Emergence of Global Aero Logistics
On April 5, 2007, Global Aero Logistics announced an agreement to acquire World Air Holdings, Inc. in a $315 million all-cash transaction. Simultaneously, New ATA Holdings officially announced their name had been changed to Global Aero Logistics, Inc., effective immediately, to reflect their diverse global operations and its recent acquisition of companies with the financial backing of the Matlin Patterson Global Opportunities investment firm. Terms of the $315 million deal were that Global Aero Logistics Inc. would operate ATA Airlines, North American Airlines, and World Airways under one umbrella (Global Aero Logistics) with each airline (ATA, North American, and World) operating independently when the transaction is completed sometime in the third quarter of 2007. Thus far the company has not addressed the potential cost savings possible through top level managerial and executive redundancies. Additionally the cost savings potential of consolidating the training, scheduling, flight crew positioning, reservations, and various other departments such as dispatch, medical, human resources, and aircraft stores has not been addressed.
In 2007 the parent company of ATA said that it was changing its name to Global Aero Logistics Inc. and was acquiring the parent company of North American Airlines. Pacific Business News said during that year "There are interesting synergies between ATA and World Air Holdings."
Read more about this topic: Global Aviation Holdings
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