Mergers and Acquisitions Facts, rumors, and conjecture

Atlas Purchases Southern Air

Old 01-19-2016, 05:21 AM
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Default Atlas Purchases Southern Air

I posted this in the cargo thread. Mods, feel free to delete one if necessary.

Breaking news: Atlas Air to acquire Southern Air in $110m takeover - Air Cargo News

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.
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Old 01-30-2016, 07:21 AM
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Default Something to keep an eye on

Looking further into this announcement, I saw something that could be not so comforting for the Atlas Air pilot group collectively.

One of the Board Members for SAI is one J. Ornstein (Mesa Air CEO). From personal experience I have seen his work and philosophy toward pilots first hand. In addition, from speaking with peers and reading, I understand that the SAI cba is not a stellar one. Obviously, I don't know how much direct influence he has or had, but it only takes one carcinogen to spread the negative waves throughout the upper echelons.

Again, I don't know how this will translate in the new working group or even if it will be a factor? I am not sure how or even if the BOD of SAI will get a place with Atlas or not if it comes to that?

I don't want to spread "doom and gloom", just wanted to point out this information so the group has more insight of what potentially lies ahead.
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