atafan
Well-known member
- Joined
- Aug 9, 2003
- Posts
- 434
From the Company web site:
Great News! Today, Global Aero Logistics Inc., ATA’s parent company, completed the acquisition of World Air Holdings, Inc. We signed the “Merger Agreement” on April 05. Until now, we were working to secure the financing and getting legal matters sorted out in order to reach this goal line. Here are some facts and figures:
· The holding company, Global Aero Logistics Inc. (GAL) will have more than 4,500 employees, 56 aircraft, and 2006 revenues exceeding $1.6 billion. GAL will have 3 independent airlines – ATA, World Airways, and North American Airlines – under its umbrella.
· World Air Holdings shares ceased trading today. The shareholders of World Holdings will receive $12.50 per share – or a total of approximately $315 Million.
· The new company will be stronger, more diversified and will have access to the resources of all 3 airlines. Leveraging these considerable synergies will help increase market share, presence, and profitability. To do that we will:
o Build upon our Scheduled Service codeshare agreement with Southwest.
o Continue to increase market share of both the AMC charter and the
commercial charter business, and
o Focus on the air cargo business, which is expected to grow at a high pace in the coming years.
What kind of IMMEDIATE impact will this have on all of us? We, at ATA, will continue our daily focus on achieving our “5C” goals. And the folks at World and North American will focus on their individual and company goals. Also, in the coming weeks, we will announce the GAL Executive Management team and embark on employee “road shows” – so you can ask questions directly of us.
After that, as we develop and roll out plans to grow, taking advantage of the synergies that exist across the 3 airlines to improve our overall revenues and our cost efficiency, I will make sure that we communicate our plans in the most transparent manner possible – so that we can all be chasing the same dream!
Great News! Today, Global Aero Logistics Inc., ATA’s parent company, completed the acquisition of World Air Holdings, Inc. We signed the “Merger Agreement” on April 05. Until now, we were working to secure the financing and getting legal matters sorted out in order to reach this goal line. Here are some facts and figures:
· The holding company, Global Aero Logistics Inc. (GAL) will have more than 4,500 employees, 56 aircraft, and 2006 revenues exceeding $1.6 billion. GAL will have 3 independent airlines – ATA, World Airways, and North American Airlines – under its umbrella.
· World Air Holdings shares ceased trading today. The shareholders of World Holdings will receive $12.50 per share – or a total of approximately $315 Million.
· The new company will be stronger, more diversified and will have access to the resources of all 3 airlines. Leveraging these considerable synergies will help increase market share, presence, and profitability. To do that we will:
o Build upon our Scheduled Service codeshare agreement with Southwest.
o Continue to increase market share of both the AMC charter and the
commercial charter business, and
o Focus on the air cargo business, which is expected to grow at a high pace in the coming years.
What kind of IMMEDIATE impact will this have on all of us? We, at ATA, will continue our daily focus on achieving our “5C” goals. And the folks at World and North American will focus on their individual and company goals. Also, in the coming weeks, we will announce the GAL Executive Management team and embark on employee “road shows” – so you can ask questions directly of us.
After that, as we develop and roll out plans to grow, taking advantage of the synergies that exist across the 3 airlines to improve our overall revenues and our cost efficiency, I will make sure that we communicate our plans in the most transparent manner possible – so that we can all be chasing the same dream!
