ATSG completes Omni Air acquisition

posted on 12th November 2018 by Justin Burns
ATSG completes Omni Air acquisition

Air Transport Services Group (ATSG) has completed the acquisition of Omni Air International LLC (Omni Air) – a passenger ACMI and charter services provider – along with related entities for $845 million, subject to customary adjustments.

ATSG president and chief executive officer, Joe Hete said completing the Omni acquisition is a “milestone achievement” for ATSG.

He added: “It increases both our revenue and our Adjusted EBITDA expectations for 2019 by more than 40 per cent, brings increased revenue diversification, and adds both passenger service and Boeing 777 capabilities to our range of services.

“We are eager to work with Omni’s management to pursue the many opportunities our combined assets and talented associates can address.”

ATSG said Omni Air’s fleet, which includes seven 767-300ER, three 767-200ER and three 777-200ER passenger aircraft, enhances its position as the world’s largest source of dedicated 767 cargo aircraft to selected express and other operators.  Eleven of the 13 aircraft Omni Air operates are owned, with one 767-200ER and one 767-300ER leased.

In total, the ATSG companies will have a combined fleet of more than 90 aircraft in service by year-end. The combination with Omni Air is anticipated to add over $430 million in annualised revenues to ATSG.