World, ATA , and North American

[Whine Lover]

Soon to be owned by ONE Company and operated separately.

YKW

 

[mhermann596]

ATA Airlines Parent to Acquire World Air Holdings for $315 Million in Cash
PEACHTREE CITY, Ga. (AP) -- Charter operator World Air Holdings Inc. said Thursday it agreed to be acquired by the parent company of ATA Airlines for $315 million in cash.
After the deal closes, pending shareholder approval, Global Aero Logistics Inc. will operate three independent airlines: ATA Airlines, as well as World Air's World Airways and North American Airlines. Global Aero Logistics had been called New ATA Holdings Inc.

The $12.50 per-share offer provides an 11 percent premium to World Air Holding's Thursday closing price of $11.25. It also represents a 56 percent premium over the stock's average closing price for the 30 trading days before World said it would explore strategic alternatives on Sept. 5.
Global Aero Logistics said it expects the deal to close during the third quarter.
World Air Holdings rose 45 cents, or 4.2 percent, to close at $11.25 in over-the-counter trading. It climbed as high as $11.30 earlier in the session, topping its prior 52-week high of $11 set in late

 

[HalinTexas]

This rumor has been hot and heavy around ATA's little realitly, lately.

It's about like I predicted.

 

[HalinTexas]

One List!
No Whipsawing!

 

[ATADSIP]

So anyone want to guess who will remain and who will go. I speculate that World will survive and be cargo only. ATA will absorbe North American aircraft and will operate passengers only. This will take awhile but that what I see happening.

 

[HalinTexas]

The stated intent is to operate three different airlines. ATA has language in their pilot contract that might make keeping the airlines separate a little troublesome if not impossible.

 

[MD11Drvr]

One List!
No Whipsawing!

I'm with you! The last thing I want to see is Mgmt playing one against the other and no one but Mgmt winning in the end. I see at least 2 years as WOA's pilot contract has 2 more years on it and I am not sure things could move faster than that anyway. The pilots at NAA are still working on thier first and I am not sure how far they have to go before a TA is on the table. Either way I am sure all will not be happy.

Hang on Katie it looks like someone just kicked the door in....

 

[ATADSIP]

It appears in the companies release to all the employees this will probably take a year or so to sort things out. Does any know if World or North American has a hanger in NY or Atlanta

 

[MD11Drvr]

It appears in the companies release to all the employees this will probably take a year or so to sort things out. Does any know if World or North American has a hanger in NY or Atlanta

World was in hot pursuit of a hanger on the north side of ATL and then all of the sudden stopped. It seemed to be about 6-8 months ago when they started looking at options with the legacy group. Now maybe it makes sense why the brakes were put on. I am not sure about NAA in NYC whether they have a hanger or not.

 

[ATADSIP]

ATA was talking about getting ride of theirs as close as 3 days ago but all of sudden in a meeting they did a 180 and are keeping it. Hmm sound interesting. I have heard that World was wanting to get out of passenger carrying service due to the high cost of Flight Attendants contract