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Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Blogs/3pl-blog

03/20/2023

318 views

Atlas Air acquired by investor consortium

    Atlas Air acquired by investor consortium

    Photo: Atlas Air

    A consortium of investors led by Apollo Global Management has acquired freighter operator Atlas Air Worldwide Holdings. The final transaction was worth approximately $2.9 billion, and the completion of the acquisition transforms Atlas Air into a privately held company

    Deal Details

    The Apollo group led by funds were joined in the acquisition by investment affiliates of JF Lehman & Company and Hill City Capital. Under the terms of the agreement, Atlas Air Worldwide shareholders will receive $102.50 per share in cash. The New York-headquartered firm previously said in a stock exchange filing that it had gained the necessary approvals for the acquisition on March 14.

    Impact on Atlas Air

    The completion of the acquisition makes Atlas Air a privately held company and its stock will no longer be listed on the Nasdaq stock exchange. It will continue to operate under the Atlas Air Worldwide name. Atlas will continue to be led by president and chief executive John Dietrich and the company’s current executive leadership team.

    Future Plans

    The acquisition “marks the start of an exciting new chapter for Atlas, and we are eager to begin our partnership with Apollo, J.F. Lehman and Hill City”, said Dietrich. “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."

    Investor's Perspective

    On behalf of the investor group, Apollo partners Antoine Munfakh and Jason Scheir, JF Lehman partner Alex Harman, and Hill City Capital chief investment officer Chip Frazier stated, "We are thrilled to partner with the talented Atlas team and build upon the Company's solid foundation as an industry leader in airfreight. Atlas is poised for continued growth and expansion as the company capitalizes on the long-term demand for global air cargo services.

    Financial Performance

    In the fourth quarter of the year, Atlas Air saw its revenues grow but profits were down.

     

     

    MintN

    Mint Nguyen

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