Atlas Air Worldwide, which is headquartered in Purchase, has been bought for $5.2 billion by an investor group led by funds managed by affiliates of Apollo, together with investment affiliates of J.F. Lehman & Company and Hill City Capital.The announcement that the deal has gone ahead was made the afternoon of March 17.
The company will continue to operate under the Atlas Air Worldwide name and be led by current President and CEO John Dietrich and the company”™s current executive leadership team.
“Today marks the start of an exciting new chapter for Atlas,” Dietrich said. “With the support and resources of our investor partners, we are well-positioned to achieve our growth objectives while continuing to serve the increasingly complex global supply chain.”
Plans for the sale were announced last August.
Atlas Air Worldwide is the parent company of Atlas Air, Inc. and Titan Aviation Holdings, Inc., and is the majority shareholder of Polar Air Cargo Worldwide, Inc. Its companies operate the world”™s largest fleet of Boeing 747 freighter aircraft and provides customers with Boeing 747, 777, 767 and 737 aircraft for domestic, regional and international cargo and passenger operations.
