An investment consortium led by asset manager Apollo Global Management and affiliates of equity investment firms JF Lehman & Company and Hill City Capital LP has completed its USD5.2 billion acquisition of Atlas Air Worldwide Holdings, parent firm of Atlas Air (5Y, New York JFK).

As ch-aviation previously reported, the merger was completed on March 17, 2023, following regulatory approval from the United States Department of Transportation (DOT).

"The company will continue to maintain its global presence, continue to operate under the Atlas Air Worldwide name, and be led by President and Chief Executive Officer John Dietrich and the current executive leadership team," Atlas Air Worldwide Holdings declared in a statement.

"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. I want to thank the entire Atlas team, whose customer focus and dedication made this milestone possible. I look forward to the opportunities this next phase provides for our company and our employees," commented Dietrich.

"Atlas is poised for continued growth and expansion as it capitalises on the long-term demand for global air cargo services," Chief Investment Officer Chip Frazier added on behalf of the investors.

In line with the terms of the transaction announced on August 4, 2022, the investor group has now acquired all of the outstanding shares of Atlas Air Worldwide stock. Atlas Air Worldwide shareholders are entitled to receive USD102.50 in cash for each share of Atlas common stock owned. As a result of the transaction's completion, Atlas Air Worldwide's common stock is no longer traded on the NASDAQ stock exchange.