Air Transport Services Group (ATSG) is to acquire Oklahoma-based Omni Air International (Omni Air) for $845m. Omni Air has a fleet of 13 passenger aircraft, a mix of Boeing 767 and Boeing 777, which serves the US and allied foreign governments and commercial customers.
The acquisition is anticipated to add over $430m in annual revenues to ATSG, which is also a provider of B767 converted freighter services to e-commerce giant Amazon. The agreement is expected to close during the fourth quarter of 2018, subject to regulatory approvals, and ATSG did not assume any debt in connection with the acquisition.
Joe Hete, President and Chief Executive of ATSG, said the acquisition would allow the group to pursue new growth opportunities, “including serving the expanding global e-commerce demand.”
After the acquisition is completed, ATSG companies will have a combined fleet of more than 90 aircraft in service by year-end.
Source: Air Cargo News
