Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services, has announced that the investor group led by funds managed by affiliates of Apollo, together with investment affiliates of JF Lehman & Company and Hill City Capital, has completed its previously announced acquisition of the company.
Atlas Air Worldwide is the parent company of Atlas Air and Titan Aviation Holdings, and is the majority shareholder of Polar Air Cargo Worldwide.
The companies operate the world’s largest fleet of 747 freighter aircraft and provide customers the broadest array of Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.
The company will continue to maintain its global presence, continue to operate under the Atlas Air Worldwide name and be led by President and Chief Executive Officer John Dietrich and the Company’s current executive leadership team.
Exciting new chapter
“Today marks the start of an exciting new chapter for Atlas, and we are eager to begin our partnership with Apollo, JF Lehman and Hill City,” Dietrich said.
“With the support and resources of our investor partners, we are well-positioned to achieve our growth objectives while continuing to serve the increasingly complex global supply chain.
“I want to thank the entire Atlas team, whose customer focus and dedication made this milestone possible. I look forward to the opportunities this next phase provides for our Company and our employees.”
On behalf of the investor group, Apollo Partners Antoine Munfakh and Jason Scheir, JF Lehman Partner Alex Harman and Hill City Capital Chief Investment Officer Chip Frazier said: “We are thrilled to partner with the talented Atlas team and build on the Company’s strong foundation as a leader in the airfreight industry.
“We have long admired Atlas’ reputation of providing high-quality service to its customers, as well as the financial and operational excellence the team has established. Atlas is poised for continued growth and expansion as it capitalises on the long-term demand for global air cargo services.”
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