ATSG finalises Omni Air sale to focus on core air cargo operations

Air Transport Services Group, Inc. (ATSG), a prominent provider of aircraft leasing, air transportation, and aviation support solutions based in Wilmington, Ohio, has officially announced the completion of a major corporate divestiture. The company has finalised its previously announced sale of Omni Air International (Omni) to OAI Holdings, LLC.

Omni Air International is recognised as a dedicated provider of passenger Aircraft, Crew, Maintenance, and Insurance (ACMI), as well as passenger charter services. The acquiring entity, OAI Holdings, is a private company guided by a management team that brings deep expertise within the aviation sector. Both parties have kept the specific monetary value of the agreement confidential, noting that the financial terms of the transaction were not disclosed.

Following the completion of this sale, ATSG is actively transitioning its corporate strategy to concentrate on its foundational markets. The company has stated that its portfolio is now firmly centred on air cargo transportation and aircraft leasing. Furthermore, the organisation will maintain and develop its associated aviation support functions, which encompass related maintenance, ground handling, and logistics services.

Addressing the completion of the divestiture and the subsequent operational pivot, Greg Mays, President and Chief Executive Officer of ATSG, stated: “We are pleased to have completed this transaction after having explored strategic options for Omni for some time. We are confident Omni has a bright future ahead as it continues to serve its customers under OAI,” said Greg Mays, President and Chief Executive Officer of ATSG. “ATSG is now sharpening its strategic focus on the significant opportunities in air cargo and related aviation services. This milestone allows us to accelerate our investment in our core markets and meet the evolving needs of our air cargo and related customers. We are excited about the opportunities ahead and look forward to continuing to execute on our strategy and deliver for our customers.”

To facilitate this transaction, several prominent institutions were retained by both organisations. ATSG was advised on financial matters by Goldman Sachs & Co. LLC, whilst legal counsel was provided by Simpson Thacher & Bartlett LLP and Hogan Lovells Cadwalader US LLP. Conversely, OAI Holdings engaged BDT & MSD Partners as its financial adviser, with Spencer Fane, LLP serving as its legal adviser throughout the process.