World, ATA, and North American One, big happy family
08-16-2007, 05:15 PM
#1
Gets Weekends Off
Thread Starter
Joined APC: Dec 2005
Posts: 1,412
World, ATA, and North American One, big happy family
Global Aero Logistics Completes Acquisition of World Air Holdings
INDIANAPOLIS, Indiana – Aug. 14, 2007 - Global Aero Logistics Inc., the parent company of ATA Airlines, Inc., announced today the completion of its acquisition of World Air Holdings, Inc., (OTC: WLDA.PK) the parent company of World Airways, Inc. and North American Airlines, Inc. Global acquired World Air in a cash merger with a price per share of $12.50 and a total transaction value of approximately $315 million.
The combined company will provide diverse airlift services, including scheduled and charter passenger service as well as cargo charters. The new entity will have a combined workforce of more than 4,500 employees, 56 aircraft and 2006 revenues of approximately $1.6 Billion.
Global's majority owner is MatlinPatterson Global Opportunities Partners II. As a result of the merger, World Air Holdings will cease being a public SEC reporting company and its stock will cease trading. World Air Holdings' shareholders will receive instructions on submitting their shares to the exchange agent for a cash payment.
About Global Aero Logistics Inc.
Global Aero Logistics Inc. is the parent company of ATA Airlines, Inc, World Airways, Inc. and North American Airlines, Inc.
In its 34 th year of operations, ATA offers affordable scheduled service travel from destinations such as Guadalajara , Cancun , Hawaii , Oakland , Chicago , New York , Dallas/Ft. Worth and Washington , DC . Through connecting Southwest Airlines codeshare flights, ATA now serves customers in more than 60 markets. ATA is also a leading passenger charter airline serving the U.S. military and many other government and commercial customers. ATA operates a fleet of 29 aircraft. For more information, visit www.ata.com .
World Airways, Inc. provides customized transportation services for major international passenger and cargo carriers, international freight forwarders, the U.S. military and international leisure tour operators. Founded in 1948, World operates a fleet of 17 wide-body aircraft to meet the specialized needs of its customers. For more information, visit www.worldairways.com .
North American Airlines, Inc. offers air transportation services throughout the world for the U.S. military and commercial customers. Founded in 1989, North American operates a fleet of 10 aircraft in charter and scheduled service. For more information, visit www.flynaa.com .
Media Contacts:
Maya Wagle, Global Aero Logistics Inc.
317-282-2659
Steve Forsyth, World Air Holdings, Inc.
770-632-8322
INDIANAPOLIS, Indiana – Aug. 14, 2007 - Global Aero Logistics Inc., the parent company of ATA Airlines, Inc., announced today the completion of its acquisition of World Air Holdings, Inc., (OTC: WLDA.PK) the parent company of World Airways, Inc. and North American Airlines, Inc. Global acquired World Air in a cash merger with a price per share of $12.50 and a total transaction value of approximately $315 million.
The combined company will provide diverse airlift services, including scheduled and charter passenger service as well as cargo charters. The new entity will have a combined workforce of more than 4,500 employees, 56 aircraft and 2006 revenues of approximately $1.6 Billion.
Global's majority owner is MatlinPatterson Global Opportunities Partners II. As a result of the merger, World Air Holdings will cease being a public SEC reporting company and its stock will cease trading. World Air Holdings' shareholders will receive instructions on submitting their shares to the exchange agent for a cash payment.
About Global Aero Logistics Inc.
Global Aero Logistics Inc. is the parent company of ATA Airlines, Inc, World Airways, Inc. and North American Airlines, Inc.
In its 34 th year of operations, ATA offers affordable scheduled service travel from destinations such as Guadalajara , Cancun , Hawaii , Oakland , Chicago , New York , Dallas/Ft. Worth and Washington , DC . Through connecting Southwest Airlines codeshare flights, ATA now serves customers in more than 60 markets. ATA is also a leading passenger charter airline serving the U.S. military and many other government and commercial customers. ATA operates a fleet of 29 aircraft. For more information, visit www.ata.com .
World Airways, Inc. provides customized transportation services for major international passenger and cargo carriers, international freight forwarders, the U.S. military and international leisure tour operators. Founded in 1948, World operates a fleet of 17 wide-body aircraft to meet the specialized needs of its customers. For more information, visit www.worldairways.com .
North American Airlines, Inc. offers air transportation services throughout the world for the U.S. military and commercial customers. Founded in 1989, North American operates a fleet of 10 aircraft in charter and scheduled service. For more information, visit www.flynaa.com .
Media Contacts:
Maya Wagle, Global Aero Logistics Inc.
317-282-2659
Steve Forsyth, World Air Holdings, Inc.
770-632-8322
08-18-2007, 04:47 AM
#2
Gets Weekends Off
Joined APC: Dec 2006
Position: I was acquired, Not Hired
Posts: 1,784
I wonder how long it will be before they start pitting one group against the next to reduce labor costs.
Who knows maybe they will hire Michael Vick in for labor negotiations....woof woof.
FF
Who knows maybe they will hire Michael Vick in for labor negotiations....woof woof.
FF
08-18-2007, 06:23 PM
#3
Gets Weekends Off
Joined APC: Feb 2007
Position: Pawn
Posts: 1,138
I am not sure how I feel about the merger. One one side we all know that North American is what cost us our profit sharing checks, but on the other is it really good to have three airlines that are on competing AMC teams? Should be interesting how this all pans out.
08-19-2007, 01:29 AM
#4
Gets Weekends Off
Joined APC: Feb 2007
Posts: 219
They won't hire Michael Vick, he will be too busy with his new endorsment deal with Hush Puppies.
I am not sure how I feel about the merger. One one side we all know that North American is what cost us our profit sharing checks, but on the other is it really good to have three airlines that are on competing AMC teams? Should be interesting how this all pans out.
I am not sure how I feel about the merger. One one side we all know that North American is what cost us our profit sharing checks, but on the other is it really good to have three airlines that are on competing AMC teams? Should be interesting how this all pans out.
08-19-2007, 07:18 AM
#6
Feeling blessed.
Joined APC: Feb 2005
Position: Happily coasting in the left seat until it ends.
Posts: 541
SWA had to divest themselves from owning any part of another airline. Scope clause.
However, our union was told by a "four star" on the World BOD that Herb had a hand in this GAL-World, NA transaction.
08-19-2007, 10:38 AM
#8
Freightmama!
Joined APC: Dec 2005
Position: 757/767 FO
Posts: 2,880
08-19-2007, 07:47 PM
#9
Feeling blessed.
Joined APC: Feb 2005
Position: Happily coasting in the left seat until it ends.
Posts: 541
