Classicdriver
Well-known member
- Joined
- Jan 25, 2006
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Purchase, NY - November 3,2009 -- Atlas Air Worldwide Holdings, Inc. (AAWW or the Company) (Nasdaq: AAWW), a leading provider of global air cargo assets and outsourced aircraft operating services, today announced the completion of its offering of AAWW common shares to the public. The offering, which was priced at $25.75 per share on October 28, 2009, covered an aggregate of 4,600,000 common shares, including 600,000 shares purchased by the underwriters to cover over-allotments. The aggregate net proceeds from the offering, after underwriting discounts and estimated expenses, were approximately $112.5 million. The Company expects to use the proceeds for general corporate purposes, including the financing of capital expenditures or funding of potential acquisitions or other business transactions.
So, Atlas does a secondary offering where they get $112.5 mil in cash. They already had $481.7 mil in cash. SO what are they gonna do with it.
First guess would be, buy some more/new planes. The 747-8's are in pretty good shape, finance wise with Boeing extending out the payments as a result of the delays. Atlas has expressed an interest in a light twin, 767/777. Rumor has it, the VP of Ops has said he could have the crews up and running in 90 days for a light twin. Atlas just needs a customer. Rumors of a South American interest has been around and then DHL of course. With Polar in bed with DHL, Atlas has a close relationship there. ANA is another possible customer. Atlas already has a deal in waiting with ANA for a pair of 747's.
Next to consider would be an outright purchase of a 767 operator. First in line, ABX. They are ACMI and have 767's. They have a relationship with DHL, ANA and have work to S. America. Only downer is they don't have a relationship with the military, nor any Pax experience. Also, I heard they have seen movement in their much delayed negotiations for a new contract. Labor peace may be a prerequisite.
Next on the HIT parade, get it, "hit" parade. Yuck, yuck. Next, World. There have been some posts on other forums/threads where World guys were asking the question because of some actions by management. They have a pair of 747-400's cargo and are in the pax service with the military with MD-11’s and DC-10’s. Also, if Atlas bought them, all opposition to Atlas picking up the "Houston Express" would be dropped.
Would they buy the Holding Global Aviation Holdings outright, that also has North American? Six 767's and three 757's. Maybe just North American, as a small operation to manage any future pax service. They are real cozy with the military pax side and some nice charter work.
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?
So, Atlas does a secondary offering where they get $112.5 mil in cash. They already had $481.7 mil in cash. SO what are they gonna do with it.
First guess would be, buy some more/new planes. The 747-8's are in pretty good shape, finance wise with Boeing extending out the payments as a result of the delays. Atlas has expressed an interest in a light twin, 767/777. Rumor has it, the VP of Ops has said he could have the crews up and running in 90 days for a light twin. Atlas just needs a customer. Rumors of a South American interest has been around and then DHL of course. With Polar in bed with DHL, Atlas has a close relationship there. ANA is another possible customer. Atlas already has a deal in waiting with ANA for a pair of 747's.
Next to consider would be an outright purchase of a 767 operator. First in line, ABX. They are ACMI and have 767's. They have a relationship with DHL, ANA and have work to S. America. Only downer is they don't have a relationship with the military, nor any Pax experience. Also, I heard they have seen movement in their much delayed negotiations for a new contract. Labor peace may be a prerequisite.
Next on the HIT parade, get it, "hit" parade. Yuck, yuck. Next, World. There have been some posts on other forums/threads where World guys were asking the question because of some actions by management. They have a pair of 747-400's cargo and are in the pax service with the military with MD-11’s and DC-10’s. Also, if Atlas bought them, all opposition to Atlas picking up the "Houston Express" would be dropped.
Would they buy the Holding Global Aviation Holdings outright, that also has North American? Six 767's and three 757's. Maybe just North American, as a small operation to manage any future pax service. They are real cozy with the military pax side and some nice charter work.
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?
