Atlas to be sold? Hmmm...
08-03-2022, 10:09 PM
#72
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Position: B-777 Captain
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08-03-2022, 10:30 PM
#73
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Doh, that makes a lot of sense. Not desirable at all. Thx.
08-03-2022, 10:45 PM
#74
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True, not that we can really morph them into our desired overlord. They are quick studies and not conformists by any means. Every time the eager folks believe Amazon will buy us we should remind them Amazon does not take prisoners they just take over and they don’t do unions, etc. Not a push I would be looking for just my take.
*Watch out as they learn to work around pilots it won’t be pretty. Keep up your due diligence to stem the tide.
*Watch out as they learn to work around pilots it won’t be pretty. Keep up your due diligence to stem the tide.
08-03-2022, 11:36 PM
#75
Rubber dogsh#t out of HKG
Joined APC: Jan 2008
Position: Senior Seat Cushion Tester Extraordinaire
Posts: 625
As much as I enjoy the easy domestic Amazon flying (live in base CVG) I don’t really want Amazon owning or controlling us. They’re a nastier, more poorly run version of DHL. They micro-manage Atlas operations. After one recent red eye we were given the wrong parking assignment by Amazon ops. They parked us on the Amazon ramp when we were supposed to be over at the DHL side. About 25 minutes after blocking in we were waiting for the van over to ops (where my truck was parked). The Amazon ramp lead told me I “was not allowed to leave” until they figured out who was going to reposition the aircraft over to DHL. I called Atlas ops and they said mx was already on its way to tow the plane over. The Amazon Lead told me I wasn’t allowed to leave until they showed up. Of course I told her she had zero operational control over my duties. Got in the van and left.
08-04-2022, 05:30 AM
#76
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Looks like it’s a done deal:
https://www.globenewswire.com/news-r...2-Billion.html
PURCHASE, N.Y., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Atlas Air Worldwide (Nasdaq: AAWW) (“Atlas” or the “Company”), a leading global provider of outsourced aircraft and aviation operating services, today announced that it has entered into a definitive agreement to be acquired by an investor group (“the Consortium”) led by funds managed by affiliates of Apollo (NYSE: APO) together with investment affiliates of J.F. Lehman & Company and Hill City Capital in an all-cash transaction with an enterprise valuation of approximately $5.2 billion.
Under the terms of the agreement, Atlas Air Worldwide shareholders will receive $102.50 per share in cash, representing a 57% premium to the 30-day volume-weighted average trading price per share of Atlas Air Worldwide common stock as of July 29, 20221. Upon completion of the transaction, Atlas Air Worldwide will become a privately held company and shares of Atlas Air Worldwide common stock will no longer be listed on the Nasdaq stock exchange. Atlas Air Worldwide will continue operating under the Atlas Air Worldwide name, be led by John Dietrich and the current executive team and maintain its global presence.
https://www.globenewswire.com/news-r...2-Billion.html
PURCHASE, N.Y., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Atlas Air Worldwide (Nasdaq: AAWW) (“Atlas” or the “Company”), a leading global provider of outsourced aircraft and aviation operating services, today announced that it has entered into a definitive agreement to be acquired by an investor group (“the Consortium”) led by funds managed by affiliates of Apollo (NYSE: APO) together with investment affiliates of J.F. Lehman & Company and Hill City Capital in an all-cash transaction with an enterprise valuation of approximately $5.2 billion.
Under the terms of the agreement, Atlas Air Worldwide shareholders will receive $102.50 per share in cash, representing a 57% premium to the 30-day volume-weighted average trading price per share of Atlas Air Worldwide common stock as of July 29, 20221. Upon completion of the transaction, Atlas Air Worldwide will become a privately held company and shares of Atlas Air Worldwide common stock will no longer be listed on the Nasdaq stock exchange. Atlas Air Worldwide will continue operating under the Atlas Air Worldwide name, be led by John Dietrich and the current executive team and maintain its global presence.
08-04-2022, 06:48 AM
#79
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Time will tell. Keeping JD as CEO and the rest of the anti labor team isn’t a good start. Hopefully that’s temporary till Apollo brings in their own people to clean house. If not, our current management has made no secret over the past decade of their desire to make Atlas an all dry leasing company. Bought today by an investor that already has a 200 plus aircraft dry leasing subsidiary, they’ll now be able to accomplish that goal very easily.
08-04-2022, 08:03 AM
#80
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Joined APC: Oct 2018
Posts: 300
Time will tell. Keeping JD as CEO and the rest of the anti labor team isn’t a good start. Hopefully that’s temporary till Apollo brings in their own people to clean house. If not, our current management has made no secret over the past decade of their desire to make Atlas an all dry leasing company. Bought today by an investor that already has a 200 plus aircraft dry leasing subsidiary, they’ll now be able to accomplish that goal very easily.
I’m not sure. Why didn’t they purchase Titan then? Purchasing an airline with 767/747s with an average airframe age of 20+ years is very short sighted if you’re thinking of turning it into aircraft leasing. The value of Atlas Air as we know has tripled since the pandemic, so I just don’t see such a large bid for it to turn it away from what it actually does right. Time will tell
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