Atlas Purchases Southern Air
Breaking news: Atlas Air to acquire Southern Air in $110m takeover - Air Cargo News
http://www.businesswire.com/news/hom...n-Air-Holdings From the article We are very pleased to announce a strategically compelling, highly complementary and immediately accretive acquisition of Southern Air,” said William J. Flynn, President and Chief Executive Officer of Atlas Air Worldwide. “And we are eager to capitalize on the substantial opportunities that the transaction will provide, especially 777 and 737 aircraft operations. “The result will be a more diversified and profitable company offering access to the widest range of modern, efficient aircraft, together with a broader mix of services and a greater scale and global footprint that will drive significant value for our customers and shareholders.” “We very much look forward to joining the Atlas Air family of companies,” said Daniel J. McHugh, Chief Executive Officer of Southern Air Holdings. “We share the same commitment to providing superior customer service via our exceptional team of aviation professionals. And Southern Air will now have a strong and viable parent to enable us to continue to grow.” Interesting way to start the day. I am sure there will be more to come. Best of luck to everyone. |
Wow! Well good for the Southern guys.
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Anyone closer to Atlas or Southern care to speculate on how this is going to affect current and near future hiring? The last I heard, Atlas wanted to hire several hundred pilots this year.
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Originally Posted by Kougarok
(Post 2050444)
Wow! Well good for the Southern guys.
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SAH group is 250 roughly, and they will be operated as a separate certificate for the time being. I Atlas needs 700 they will still be 900 between now and the time that certificate is merged to make the numbers work.
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downndirty side by side
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Atlas and Southern side by side pay scales for quick ref.
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Originally Posted by Treehorn
(Post 2050480)
Not the atlas guys.
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Atlas and Southern FO's pay scales side by side for reference
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Originally Posted by Treehorn
(Post 2050480)
Not the atlas guys.
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The only loser in this will be DHL and LAN cargo. Depending on when the contracts expire, they pay more, or lose 13 airplanes to Amazon.
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