Atlas Air Completes Operating Certificate Merger with Southern Air
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) has completed the transition to operate Southern Air, Inc. under a Single Operating Certificate (SOC).
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Rhea-AI Summary
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) has completed the transition to operate Southern Air, Inc. under a Single Operating Certificate (SOC). This integration allows Atlas Air to diversify its fleet with 777 and 737 aircraft, enhancing service offerings and expanding its global reach. CEO John W. Dietrich stated the merger strengthens the company’s position as a leading provider of outsourced aircraft services and appreciates the FAA’s support during the transition. Atlas Air operates the world's largest fleet of 747 freighters, offering a wide range of aviation services worldwide.
Positive
- Completion of Southern Air integration enhances operational capabilities.
- Diversifies fleet with 777 and 737 aircraft, broadening service offerings.
- Strengthens market position as a leading provider of outsourced aviation services.
Negative
- None.
Details
News Market Reaction – AAWW
The recorded move for AAWW in the trading session of this news was +0.68%.
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PURCHASE, N.Y., Nov. 17, 2021 (GLOBE NEWSWIRE) --
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) today announced that the transition to bring operations of Southern Air, Inc. under a Single Operating Certificate (SOC) with Atlas Air, Inc. is now complete.
With the addition of Southern Air, Atlas Air was able to add 777 and 737 aircraft operating platforms, resulting in a more diversified company offering customers access to a wider range of aircraft, a broader array of services, greater scale and an expanded global footprint.
“The 2016 acquisition of Southern Air enhanced our company’s position as a leading global provider of outsourced aircraft and aviation operating services by expanding our fleet and global capabilities to drive significant value for our customers and shareholders,” said John W. Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. “It also brought us a talented team of aviation professionals who share in our commitment to our customers as we create an even stronger company for the future. We are excited to have all our Southern Air employees assume positions with Atlas Air as we complete the final step in merging these two great airlines.”
Mr. Dietrich expressed the company’s appreciation for the U.S. Federal Aviation Administration’s (FAA) assistance during the transition.
“We are grateful to the FAA for its support throughout this process as we focused on a safe and compliant operational transition,” Mr. Dietrich said. “The efforts and insight of the FAA team have been invaluable. We look forward to continuing to work closely with the FAA under this Single Operating Certificate.”
About Atlas Air Worldwide:
Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services. It is the parent company of Atlas Air, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Our 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.
Atlas Air Worldwide’s press releases, SEC filings and other information may be accessed through the company’s home page, www.atlasairworldwide.com.
| Contacts: | Investors – InvestorRelations@atlasair.com |
| Media – CorpCommunications@atlasair.com |
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