WILMINGTON’S ATSG MAKES ACQUISITION
Company will acquire air charter service Omni Air for $845 million.
Wilmington-based Air Transport Services Group has agreed to acquire an air charter services company.
ATSG said Tuesday it will acquire Omni Air for $845 million, subject to “customary adjustments.” The company said it did not assume any debt with the acquisition.
Based at Wilmington Air Park, ATSG provides aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers.
In a release, ATSG said Omni Air is a provider of passenger airlift services to the U.S. Department of Defense via the Civil Reserve Air Fleet program, and a worldwide provider of full-service passenger charter services.
Omni Air also carries passengers worldwide for a variety of private-sector customers and government-services firms.
The combination with Omni Air is anticipated to add over $430 million in annualized revenues to ATSG, the company said.
Omni Air’s fleet, which includes seven 767-300ER airplanes, three 767-200ER and three 777-200ER aircraft, complements ATSG’s fleet of Boeing 737, 757 and 767 aircraft, ATSG said.
In total, the ATSG companies will have a combined fleet of more than 90 aircraft in service by the end of 2018.
“Combining ATSG and Omni Air’s operating expertise and array of aircraft options fulfills several of our principal goals — to broaden ATSG’s ACMI (Aircraft, Crew, Maintenance and Insurance) capabilities; grow and diversify our revenue streams with government and commercial customers; and reach new global markets with our full range of leasing, operating, and aircraft maintenance capabilities,” Joe Hete, ATSG president and chief executive, said in the company’s release.
ATSG’s subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Airborne Maintenance and Engineering Services, Inc., including its division, PEMCO World Air Services, Inc. Contact this reporter at 937-2252390 or email Thomas.Gnau@ coxinc.com.
ATSG companies will have a combined fleet of more than 90 aircraft in service by the end of 2018.