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Apollo led investor group to acquire Atlas Air Worldwide

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Apollo led investor group to acquire Atlas Air Worldwide. Image: Atlas Air Worldwide
Apollo led investor group to acquire Atlas Air Worldwide. Image: Atlas Air Worldwide
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Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services, announced that it has entered into a definitive agreement to be acquired 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 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. 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.

“We believe this transaction will deliver immediate and certain value to Atlas Air Worldwide shareholders at a substantial premium, and we are pleased to reach this agreement with the Consortium,” said Duncan McNabb, Chairman of the Atlas Air Worldwide Board of Directors. “The Board’s decision to unanimously approve this transaction follows a careful evaluation and thoughtful review of value creation opportunities for shareholders. We believe this transaction is the right next step to maximize value for our shareholders and the best path forward to accelerate the Company’s ability to execute its strategic plan and achieve its long-term growth objectives.”

“Over our 30-year history, Atlas Air Worldwide has grown to become a global leader in airfreight, delivering high-quality services to our diverse roster of customers around the world,” said John Dietrich, President and Chief Executive Officer of Atlas Air Worldwide. “Following the closing of the sale to the Consortium, we will seek to leverage their resources, relationships and industry expertise to build on our strong financial and operational performance. Their investment in our company demonstrates their confidence in our people and our culture as we serve the growing needs of the global supply chain.”

“Atlas Air Worldwide is a market leader that continues to set higher standards for excellence within the airfreight industry,” said Apollo Partners Antoine Munfakh and Jason Scheir and J.F. Lehman & Company Partner Alex Harman on behalf of the Consortium. “With the strong market demand and long-term secular tailwinds for global air cargo services, Atlas is poised to capitalize on many opportunities for continued growth as a fund portfolio company of Apollo, J.F. Lehman and Hill City. We look forward to leveraging our resources, capital and experience in the sector to support the talented Atlas team, alongside our partners in this exciting next phase.”

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Air Freight

DB Schenker starts its charter flights between Europe and South America

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DB Schenker starts its charter flights between Europe and South America. Image: DB Schenker
DB Schenker starts its charter flights between Europe and South America. Image: DB Schenker
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DB Schenker offers additional charter capacities across the Atlantic. The new route starts from the Netherlands and reaches Brazil after two stopovers in the USA. In South America, direct connections to Argentina and Chile are available. The weekly freight charter flight provides 50 tons of capacity and expands DB Schenker’s growing intercontinental flight network.

Thorsten Meincke, Global Board Member for Air & Ocean Freight at DB Schenker: “To keep economies running, companies require stable supply chains. By expanding our flight network to South America, we provide a new source of reliable capacity to the market. We are happy to say that the demand is already high.”

Every Sunday night, the flight leaves Amsterdam (AMS) and stops in New York City (JFK) and Miami (MIA) on Monday before reaching Viracopos (VCP) near São Paulo on the same day. On Tuesdays, a direct connection can be made to Buenos Aires (EZE), and Santiago de Chile (SCL) can be reached on Wednesdays. An airline partner will be operating the new transatlantic route with Boeing 767 freighter jets. The charter flight’s stopover in Miami allows access to numerous further destinations in the operating carrier’s portfolio.

The first bookings include a diverse range of goods, including many automotive parts. Temperature-controlled cargo and dangerous goods can also be transported upon request. Within Europe, the flights seamlessly connect to DB Schenker’s land transportation network.

DB Schenker, is committed to providing innovative supply chain solutions that challenge the status quo. As a global industry leader with more than 150 years of logistics experience, the company supports industry and trade in the global exchange of goods.

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Air Freight

Halifax Stanfield officially opens new Air Cargo Logistics Park

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Halifax Stanfield officially opens new Air Cargo Logistics Park. Image: Pixabay
Halifax Stanfield officially opens new Air Cargo Logistics Park. Image: Pixabay
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The ribbon has been cut at the new Halifax Stanfield Air Cargo Logistics Park, marking the official opening of Atlantic Canada’s largest air cargo processing facility.

Halifax International Airport Authority was joined by the Honourable Sean Fraser, Minister of Immigration, Refugees and Citizenship Canada and Member of Parliament for Central Nova, the Honourable Steve Craig, Nova Scotia Minister of Fisheries and Aquaculture and MLA for Sackville – Cobequid, Mike Savage, Mayor of Halifax Regional Municipality, air cargo tenants, cargo logistics chain partners, and other stakeholders to celebrate the grand opening of the park.

Funding for the construction of the ACLP was first announced in 2018 by the Government of Canada, which contributed $18 million of the total project cost of $36 million through the National Trade Corridors Fund. Funding for the project was also provided by the Government of Nova Scotia and HIAA.

The ACLP includes a new building with cold storage space, cargo processing facilities and offices, which has been fully leased to two tenants: Cargojet and First Catch Fisheries. Five new cargo aircraft aprons, or parking spaces, were also constructed alongside the building.

This infrastructure expansion complements existing cargo processing capabilities offered at Halifax Stanfield by Gateway Facilities and other service providers, enabling more commercial and logistics businesses in Atlantic Canada to connect to global air cargo opportunities. With a total of eight cargo aircraft aprons, cold storage capabilities, and other logistics enhancements, the ACLP increases capacity and improves efficiency for global cargo carriers operating at Halifax Stanfield, contributing to economic activity.

In 2021, 34,769 metric tonnes of cargo, valued at $496 million, were processed at Halifax Stanfield. According to the latest Halifax Stanfield economic impact report, in 2020 cargo exports contributed $664 million to the provincial economy.

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Air Freight

Kerry Logistics to start four charter flights a week from Hong Kong to USA

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Kerry Logistics to start four charter flights a week from Hong Kong to USA. Image: Pixabay
Kerry Logistics to start four charter flights a week from Hong Kong to USA. Image: Pixabay
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Kerry Logistics Network Limited is ramping up its Kerry Freight Controlled Network with four charter flights a week from Hong Kong to Huntsville, Alabama, USA, providing guaranteed and reliable services to its customers.

Weekly direct flights depart from Hong Kong to Huntsville on Mondays, Tuesdays, Thursdays and Sundays and are supported with B2B, B2C and B2B2C door-to-door services to different cities in the Americas, including Chicago, Los Angeles, New York, Miami, Bogota, Mexico City, Santiago, Lima, and Montevideo. One highlight of this service is its ability to handle pure battery, in addition to other sensitive cargoes such as pharmaceuticals, perishable and dangerous goods.

Mathieu Renard Biron, Managing Director – Global Freight Forwarding of Kerry Logistics Network, said, “Our HKG-HSV charter service is welcomed by a wide range of customers, in particular electronic brands and e-tailers since its inaugural flight in April 2022. Last month, we successfully expanded our KCN to include three weekly flights from Hanoi, Vietnam to Huntsville. We are also in dialogue with some of our key accounts to further extend our services to the Mainland of China and other parts of Asia.”

“Backed by KLN’s long-term partnership with best-in-class carriers, extensive coverage of major air transit hubs and strong in-house customs clearance capabilities, KCN is expected to meet the recurring demand for secured air freight services in an uncertain world,” added Biron.

Launched in August 2021, KCN is a time-definite solution that offers standard air freight services to customers with guaranteed space and long-term pricing, fulfilling the needs of customers looking for stable and long-term solutions.

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