Apollo-led investors consider acquisition of Atlas Air: WSJ
A group of investors led by US-based investment management firm Apollo Global Management is considering the purchase of airfreight company Atlas Air Worldwide Holdings, sources familiar with that matter confirmed to the Wall Street Journal (WSJ) on August 1, 2022,
While details have not been made public, the sources said that both parties are currently undergoing advanced talks. Since news of a possible deal was announced, shares in Atlas Air increased by 13%.
Founded in 1992, Atlas Air currently holds the title of the world’s fourth largest air carrier in terms of fleet size. Operating a monogamous fleet, consisting of a total of 81 Boeing family jets with an average age of 22.9 years, Atlas Air is also the world’s largest operator of Boeing 747 aircraft available for lease. The airline currently flies 46 planes of the type. Its remaining fleet is composed of eight Boeing 737-800s, 26 767-300s, and a single Boeing 777F cargo plane, according to Planespotters.com data.
The airline, whose headquarters are based at New York's John F. Kennedy International Airport (JFK), provides both long-term and short-term ACMI (aircraft, crew, maintenance, insurance) freight and passenger operations depending on specific destinations, customer needs and seasonal trends. However, it typically provides ACMI services throughout regions such as North and South America, Europe, Asia, Africa, and Oceania.
According to NasdaqGS, Atlas Air currently has a market capitalization of more than $2 billion.
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