Atlas Air Worldwide holdings has completed the acquisition of Southern Air with a deal worth US$110 million.
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The deal was announced in January, but was finally completed today. This deal means that Atlas Air would enter in the Boeing 777 and 737 market.
William Flynn, the president and chief executive of Atlas Air, said:”“We are proud to welcome Southern Air, its operating companies, and its professional, experienced workforce to the Atlas family.”
“Together, we will be a stronger, more diversified, more profitable company offering access to the widest range of modern, efficient aircraft for domestic, regional and international applications. We have known and respected Southern Air for some time, and we have a lot in common. We are both committed to safety, customer service, and performance excellence.”
“Our complementary operations will also provide a broader array of services for customers and new avenues of business growth, which will generate greater opportunities for employees and drive value for shareholders.”