ATSG Acquires Stake In West Atlantic

Air Transport Services Group (ATSG) has agreed to acquire a 25 per cent equity interest in West Atlantic. The Swedish company, through its two airlines Atlantic Airlines and West Air Sweden, operates a portfolio of 40 aircraft as a regional cargo operator. Its fleet consists of BAe ATPs, CRJ-200-PFs, and 737s, while Atlantic is currently adding the 767 to its operating capability. West Atlantic also owns an aircraft leasing company, European Turboprop Management, and an MRO, European Aircraft Maintenance. Joe Hete, president and CEO of ATSG, said: “Our leading position in the medium widebody freighter market and global reputation for delivering complete medium-size freighter solutions to major logistics services providers, together with West Atlantic’s complementary strengths in providing time-definite air cargo services in Europe, make us ideally suited to work together on emerging opportunities.” The agreement is expected to close on January 2, 2014. 

TAGS: Airlines
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