Atlas Air Worldwide acquires Southern Air

Atlas Air Worldwide has completed its acquisition of privately held Southern Air Holdings, Inc., a provider of intercontinental and domestic CMI (crew, maintenance and insurance) services, in an immediately accretive transaction for cash consideration of approximately $110 million, subject to customary adjustments. The company did not assume any debt in connection with the acquisition. The combination provides Atlas Air Worldwide immediate entry into 777 and 737 aircraft operating platforms with opportunities for additional growth, enhancing Atlas Air Worldwide’s position as a global provider of outsourced aircraft and aviation operating services. Southern Air is the parent company of Worldwide Air Logistics