What/who is Atlas going to buy?

[jmreii]

We're gonna buy UPS or maybe FedEx (just kidding) not to offend any of the Brown or Purple boys out there. Not sure what's going on behind the scenes here, heard that this money could be for further deposits on the 747-8's we have on order, supposed to get the first one a year from now.

If you don't have a fleet of trucks to go with it, don't bother.

 

[Keelhaul]

Last but not least, was this a move to make them buyable? Drove the stock price down over 25% and improved their cash position, which might have been a precondition to purchase. The buyer?

Oak Hill Capital Partners

 

[Classicdriver]

I thought that Atlas had secured the contract and that it was already a done deal.

Atlas/Sonair require a permit to operate this flight. World has opposed this permit process and submited for rights to operate a flight as a scheduled service. If they can't get it with Sonair, they'll do it on their own. No telling where DOT will come down on this. So Atlas/Sonair are moving forward on the assumtion that things will go their way.

 

[WabiSabi]

Atlas/Sonair require a permit to operate this flight. World has opposed this permit process and submited for rights to operate a flight as a scheduled service. If they can't get it with Sonair, they'll do it on their own. No telling where DOT will come down on this. So Atlas/Sonair are moving forward on the assumtion that things will go their way.

Thanks. Do you have any idea when the DOT will make their final decision on World's application for scheduled service?

 

[Classicdriver]

Nope.

 

[BlueCanoe]

Last but not least, was this a move to make them buyable? Drove the stock price down over 25% and improved their cash position, which might have been a precondition to purchase. The buyer?

What say you, experts of the aviation world?

Doubt they'd be bought...big price to pay since the got the "Poison Pill" in May.

Source: http://www.atlasair.com/holdings/archive.asp?Pressid=480

News Releases

Print this Release
Atlas Air Worldwide Holdings, Inc. Adopts Stockholder Rights Plan

Tuesday, May 26, 2009 -- Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW) announced that its Board of Directors has approved the adoption of a stockholder rights plan. The rights plan is designed to encourage the fair treatment of AAWW stockholders in connection with attempts to acquire AAWW on terms or through tactics that could deny all stockholders the opportunity to realize the full value of their investment. AAWW said that the plan is also designed to enhance the ability of the Board of Directors to protect the interests of AAWW stockholders.

AAWW stated that the rights are not being issued in response to any outside effort to gain control of AAWW, and that it is not aware of any takeover attempt. The rights will not affect AAWW's reported earnings per share.

Under the plan, one right will be issued for each share of AAWW common stock outstanding on June 5, 2009. Shares of common stock that are issued after that date will be issued with an attached right. Each right would initially represent the right, under certain circumstances, to purchase a share of AAWW common stock at an exercise price of $55.00 per share.

If a person or group acquires beneficial ownership of 15% or more of the then outstanding shares of AAWW's common stock or announces a tender or exchange offer that would result in such person or group owning 15% or more of the then outstanding AAWW common stock, each right would entitle its holder to purchase shares of AAWW common stock having a market value of two times the exercise price of the right. The rights, however, would not be triggered by any person or group that is presently the beneficial owner of 15% or more of AAWW's outstanding common stock on the date of the adoption of the Rights Agreement, unless such person or group acquires beneficial ownership of additional shares of AAWW common stock in the future (other than pursuant to a stock dividend or stock split).

The Board of Directors may redeem the rights at the redemption price of $0.01 per right, subject to adjustment, at any time prior to the earlier of May 25, 2012, the expiration date of the rights, or the date of distribution of the rights, as determined under the plan.

Details of the stockholder rights plan will be outlined in a letter which will be mailed as soon as practicable after June 5, 2009, to all stockholders of record on such date.

 

[EuroWheenie]

500 mill doesn't go a very long way when you've got a bunch of 250 mill aeroplanes inbound.

Boeing usually require 25% of purchase price at contract signing, another 25% a year prior to delivery and the balance the day the new toy is handed over. Could very well be that's what the money will be used for, knowing that obtaining finance through the usual suspects has become rather difficult as of late.

I therefore expect that Atlas will be going for a purchase of the -8s, then go for a sell and lease back deal, as it doesn't really make financial sense tying up that much capital in flying aluminium.

 

[ASA_Aviator]

Any idea on recalls or hiring?

 

[Arkady]

A few more recalls of pilots & some delayed/revised/recalls of PFE's due to a bit more increased bid'ness. I think we will still have approx 36 pilots on furlough after the latest recalls get back in their seats (still depressing but quite an improvement over the original 130 or so originally on the pilot furlough list). The Classics are still slated to (eventually) go to the bone yard but that schedule is forever bending with the (mostly military) customer demands.

 

[ASA_Aviator]

A few more recalls of pilots & some delayed/revised/recalls of PFE's due to a bit more increased bid'ness. I think we will still have approx 36 pilots on furlough after the latest recalls get back in their seats (still depressing but quite an improvement over the original 130 or so originally on the pilot furlough list). The Classics are still slated to (eventually) go to the bone yard but that schedule is forever bending with the (mostly military) customer demands.

Well, that's a start. I'm hoping Atlas hires in 2010.