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World Airways Being Bought Out?  
User currently offlineAirTran737 From United States of America, joined Apr 2004, 3690 posts, RR: 12
Posted (7 years 2 weeks 5 days 12 hours ago) and read 3864 times:
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I have heard a lot of rumblings about World being bought out by either Omni, ATA, or the Polar/Atlas group. Has anyone else heard any rumors that may indicate that this is happening?


Nice Trip Report!!! Great Pics, thanks for posting!!!! B747Forever
18 replies: All unread, jump to last
 
User currently offlineSrbmod From , joined Dec 1969, posts, RR:
Reply 1, posted (7 years 2 weeks 5 days 11 hours ago) and read 3791 times:

I doubt ATA or Polar/Atlas has the  dollarsign   dollarsign   dollarsign  to pick up World Air Holdings (Parent company of WO and NA.). As for OAI, who knows what their money situation is?

Browsing through the prelim Q3 2006 info on World's website, this little bit of info was discovered:

Quote:
Legacy Partners Group, which was retained to examine various strategic alternatives to enhance shareholder value, is approximately 80 days into the process and has recently incorporated World Air Holdings' 2007 business plan into its analysis. Alternatives that are being evaluated include, but are not limited to, repositioning the company, operating partnerships, potential strategic acquisition or merger opportunities, leveraged recapitalization, and potential sale of the company to a financial or strategic partner.


http://www.worldair.com/news/20061227.htm

So there is a chance WO and NA could be sold off, but at the same time, World Air Holdings could buy someone. Either way, I think OAI's name will figure into this. But at the same time, if OAI, World, and North American were all under the same corporate umbrella, that could potentially be detrimental to the Air Mobility Command contracts all three airline currently have. As for the "repositioning the company" angle, a return to scheduled service, at least by WO?


User currently offlineAirTran737 From United States of America, joined Apr 2004, 3690 posts, RR: 12
Reply 2, posted (7 years 2 weeks 4 days 5 hours ago) and read 3375 times:
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I've been chatting with a fellow over at ATA and they are hearing the World will be buying them out. A supposed announcement will come this month.


Nice Trip Report!!! Great Pics, thanks for posting!!!! B747Forever
User currently offlineIAirAllie From , joined Dec 1969, posts, RR:
Reply 3, posted (7 years 2 weeks 4 days 5 hours ago) and read 3353 times:

This is the first time I've heard a rumor about WO being bought. Usually the rumor is that WO is doing the buying.

User currently offlineAirTran737 From United States of America, joined Apr 2004, 3690 posts, RR: 12
Reply 4, posted (7 years 2 weeks 4 days 4 hours ago) and read 3277 times:
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Quoting IAirAllie (Reply 3):
This is the first time I've heard a rumor about WO being bought. Usually the rumor is that WO is doing the buying

It's seemed odd to us all as well, but like I said, a fellow at TZ is hearing that WO is going to be buying them.



Nice Trip Report!!! Great Pics, thanks for posting!!!! B747Forever
User currently offlineFloridaflyboy From United States of America, joined Jun 2006, 1999 posts, RR: 0
Reply 5, posted (7 years 2 weeks 4 days 4 hours ago) and read 3261 times:

Quoting AirTran737 (Reply 4):
It's seemed odd to us all as well, but like I said, a fellow at TZ is hearing that WO is going to be buying them.

A pilot I know works for TZ, and he was saying that there were "light rumors" circulating about a tieing up between WO and TZ in one way or another.



Good goes around!
User currently offlineSkyguyj From United States of America, joined Aug 2006, 2 posts, RR: 0
Reply 6, posted (7 years 2 weeks 1 day 1 hour ago) and read 2879 times:

Just announced...."Global Aero Logistics" parent of ATA, just purchased WorldAirHoldings (World, North American and World Risk Solutions) for $315 Mil ALL Cash deal.......... who'd a thunk?

User currently offlineFloridaflyboy From United States of America, joined Jun 2006, 1999 posts, RR: 0
Reply 7, posted (7 years 2 weeks 1 day 1 hour ago) and read 2867 times:

Quoting Skyguyj (Reply 6):
who'd a thunk?

Not me! This is a very interesting development, indeed. Wonder what changes we will see with the two coming together.



Good goes around!
User currently offlineSkyguyj From United States of America, joined Aug 2006, 2 posts, RR: 0
Reply 8, posted (7 years 2 weeks 1 day 1 hour ago) and read 2842 times:

Memo from our CEO (World's) says we will be operating as 3 seperate airlines.....let's see how long this lasts!  bigthumbsup 

User currently offlineAirCop From , joined Dec 1969, posts, RR:
Reply 9, posted (7 years 2 weeks 1 day 1 hour ago) and read 2823 times:

Why would WO want TZ to begin with? From what I can see TZ doesn't bring any real value to the table.

User currently offlineLN-MOW From United States of America, joined Jan 2000, 1907 posts, RR: 14
Reply 10, posted (7 years 2 weeks 1 day ago) and read 2814 times:

Quoting AirCop (Reply 9):
Why would WO want TZ to begin with?

Emm ..... it's TZ that bought WO....

Surprising indeed. Matlin Patterson has amitions. Today World .. Tomorrow THE world..??



- I am LN-MOW, and I approve this message.
User currently offlineN908AW From United States of America, joined Aug 2005, 903 posts, RR: 1
Reply 11, posted (7 years 2 weeks 23 hours ago) and read 2725 times:

Quoting AirCop (Reply 9):
Why would WO want TZ to begin with? From what I can see TZ doesn't bring any real value to the table.

Largest charter operator in the world and increasingly profitable from its military operations? Yeah, what would you gain in that?



'Cause you're on ATA again, and on ATA, you're on vacation!
User currently offlineAirCop From , joined Dec 1969, posts, RR:
Reply 12, posted (7 years 2 weeks 23 hours ago) and read 2723 times:

And what happens when the war winds down? Predict the military dollars will also drop dramatically.

User currently offlineA330323X From United States of America, joined Oct 2003, 3039 posts, RR: 44
Reply 13, posted (7 years 2 weeks 22 hours ago) and read 2639 times:

Quoting LN-MOW (Reply 10):
Surprising indeed. Matlin Patterson has amitions. Today World .. Tomorrow THE world..??

MatlinPatterson has been *really* wanting into the airline business in a big way, since before they bought ATA.

Had US Airways not merged with America West, MatlinPatterson was to have been the primary equity investor in a stand-alone US upon emergence from bankruptcy.



I'm the expert on here on two things, neither of which I care about much anymore.
User currently offlineB52murph From United States of America, joined Feb 2006, 239 posts, RR: 0
Reply 14, posted (7 years 2 weeks 22 hours ago) and read 2618 times:

I have to ask...could one of the factors in this deal be TZs recent DC-10 purchase from NW? IIRC, WO also has several DC-10s in addition to M11s. This gives TZ/WO fleet commonality (and potential swapping) for the AMC Patriot Express routes.

I think this may have just made TZs planned-L15 retirement virtually unreversable.  no 


User currently offlineTZTriStar500 From United States of America, joined Jan 2004, 1448 posts, RR: 9
Reply 15, posted (7 years 2 weeks 20 hours ago) and read 2525 times:

Quoting LN-MOW (Reply 10):
Emm ..... it's TZ that bought WO....

Surprising indeed. Matlin Patterson has amitions. Today World .. Tomorrow THE world..??

The New ATA Holdings has been renamed Global Aero Logistics with ATA Airlines (TZ) as a subsidiary. At the same time, Global Aero Logistics argeed to acquire World Holdings which owns World Airways and North American. The acquisition is expected to close in the 3rd quarter and Matlin Patterson will remain the largest shareholder in the new holding company.

This indeed an endorsement of ATA Holdings mangement as they will run the new holding company and are the acquirers, not acquirees. In fact Subodh Karnik, current CEO of ATA Airlines is now CEO of Global Aero Logisitics.

Quoting A330323X (Reply 13):
And what happens when the war winds down? Predict the military dollars will also drop dramatically.

One of the main reasons for the acquisition is to have more diversification in scheduled, commercial charter, military charter, and cargo operations in order to weather downturns like lower miltary charter demand.

Quoting B52murph (Reply 14):
I have to ask...could one of the factors in this deal be TZs recent DC-10 purchase from NW? IIRC, WO also has several DC-10s in addition to M11s. This gives TZ/WO fleet commonality (and potential swapping) for the AMC Patriot Express routes.

I think this may have just made TZs planned-L15 retirement virtually unreversable.

I don't see this as being one of the main reasons, but there is or will be some fleet synergies with all 3 airlines. Yes, I do see the L10 retirement as a sure thing, but I also wonder if this will have any affect on how many DC10s we will actually operate. The plan was for 7, but I wonder if this will change and what the future brings for that matter....very inetresting times.



35 years of American Trans Air/ATA Airlines, 1973-2008. A great little airline that will not be soon forgotten.
User currently offlineLV From United States of America, joined Jun 2001, 1914 posts, RR: 0
Reply 16, posted (7 years 2 weeks 19 hours ago) and read 2518 times:

So I have to ask, does that mean TZ's HQ on West Washington will be closing down?

User currently offlineTZTriStar500 From United States of America, joined Jan 2004, 1448 posts, RR: 9
Reply 17, posted (7 years 2 weeks 19 hours ago) and read 2498 times:

Quoting LV (Reply 16):
So I have to ask, does that mean TZ's HQ on West Washington will be closing down?

No plans for that since the three airlines will be operated independently, but you never know where TZ's HQ may end up or what may happen to all three airlines....not sure where Global Aero Logistics HQ will be though.



35 years of American Trans Air/ATA Airlines, 1973-2008. A great little airline that will not be soon forgotten.
User currently offlineTrijetsRMissed From United States of America, joined Oct 2006, 2231 posts, RR: 7
Reply 18, posted (7 years 2 weeks 19 hours ago) and read 2497 times:

What will be the future with the merged airline? Will any of the wide-bodies see scheduled service or all charter? Will the MD-11's be retained or sold to freight operators?


There's nothing quite like a tri-jet.
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