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| Type | Private |
|---|---|
| Founded | April 5, 2007 |
| Headquarters | Peachtree City, Georgia, USA |
| Industry | Transportation |
| Products | Airline Services |
| Employees | >2200 |
| Website | http://www.glah.com/ |
Global Aviation Holdings is a private airline holding company based in Peachtree City, Georgia, owned by the worldwide MatlinPatterson Investment firm. The company's principal operational holding was ATA Airlines, Inc. (ATA), which announced cessation of most scheduled service in mid-March 2008, itself filed for bankruptcy on April 2, 2008 and ceased flying altogether later that day.
On April 5, 2007, Global Aero Logistics announced an agreement to acquire World Air Holdings, Inc., an airline holding company that owns World Airways and North American Airlines via the "merger vehicle" Hugo Acquisition Corporation, in a deal worth approximately $315 million in an all-cash transaction. The transaction was completed August 15, 2007. As a result of the deal, Global Aero Logistics operate two independent airlines under one umbrella: World Airways and North American Airlines (Global also previously operated ATA Airlines). Both airlines, even though quite small in terms of modern airline economies of scale standards, as stated in the official announcement, are to keep operating independently.[1] Shortly before the announcement, ATA Holdings changed its name to "Global Aero Logistics Inc.", in a move that, according to previous CEO Subodh Karnik, "better reflects the company's diverse, worldwide operations." [2]
Contents |
History
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This section needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (October 2009) |
Originally named AmTran (Holdings) prior to 2002 and based in Indianapolis, Indiana, the holding company's name was changed to ATA Holdings Corp., for increased transparency and to attract financial investors after the September 11 attacks economic hardships that affected the industry. ATA Holdings Corp. was a publicly traded company.
On April 8, 2004, ATA Holdings announced the sale of ATA Training Corporation to Aviation Institute of Maintenance to focus on the passenger and charter business. ATA Training provided training for aircraft technicians. It was founded in Indianapolis in 1992.[3]
ATA Holdings Corp. traded on the NASDAQ as "ATAH" until the company filed bankruptcy proceedings in October, 2004.
On April 5, 2007, New ATA Holdings, Inc. changed its name to Global Aero Logistics Inc (GAL), shortly after which it announced the agreement to purchase World Airways and North American Airlines. Late in 2007, GAL moved headquarter operations to Peachtree City, Georgia, where World Airways is headquartered. This move was a silent and unnanounced move. Today, Global Aero Logistics provides military/commercial air transportation charters throughout the world.
- AMTRAN, INC. (Holdings) -------------------- 2002[4]
- ATA Holdings Corp. --------------------------- 2003-2007
- Global Aero Logistics Inc. (Holdings) -- 2007-2009
- Global Aviation Holdings Inc. ------------ 2009-present
According to an Indianapolis press release from Global Aero Logisitcs Inc., and North American airlines, the combined companies of North American, ATA, and World in 2006 revenues were approximately $1.6 Billion dollars [5].
Bankruptcy
On October 26, 2004, ATA Holdings, Inc., the former parent company of ATA Airlines, filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code, along with seven of its subsidiaries: ATA Airlines, Chicago Express Airlines, ATA Cargo, ATA Leisure Corp., ATA Training Corp., Amber Travel, and ExecuJet.
The Company and its subsidiaries continued to operate their respective business as debtors-in-possession under the jurisdiction of the Bankruptcy Court, and in accordance with the applicable provisions of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure and applicable court orders, and continued to do this for one and a half years.
Restructuring
After the company's bankruptcy filing on October 26, 2004, drastic measures were taken to turn the company around and make it profitable. As part of its restructuring, J. George Mikelsons ATA's founder and director stepped away from the MatlinPatterson Global Aero Logistics firm and the directorship, of ATA named John G. Denison as CEO in February 2005. Later that year, launched their first-ever codeshare agreement with Southwest Airlines which had been spearheaded earlier by Mikelsons, thus enabling ATA to connect their passengers to Southwest's markets and vice-versa. ATA also cut down its scheduled operations, most significantly from its former hub at Chicago Midway International Airport.
ATA sold Ambassadair Travel Club in 2004 to Grueninger Cruises and Tours, based in Indianapolis.[6]
On February 28, 2006, New ATA Holdings Inc. emerged from Chapter 11 United States Bankruptcy Protection.
Emergence of Global Aero Logistics
On April 5, 2007, Global Aero Logistics announced an agreement to acquire World Air Holdings, Inc. in a $315 million all-cash transaction. Simultaneously, New ATA Holdings officially announced their name had been changed to Global Aero Logistics, Inc., effective immediately, to reflect their diverse global operations and its recent acquisition of companies with the financial backing of the Matlin Patterson Global Opportunities investment firm. Terms of the $315 million deal were that Global Aero Logistics Inc. would operate ATA Airlines, North American Airlines, and World Airways under one umbrella (Global Aero Logistics) with each airline (ATA, North American, and World) operating independently when the transaction is completed sometime in the third quarter of 2007. Thus far the company has not addressed the potential cost savings possible through top level managerial and executive redundancies. Additionally the cost savings potential of consolidating the training, scheduling, flight crew positioning, reservations, and various other departments such as dispatch, medical, human resources, and aircraft stores has not been addressed, other than to say interesting economic "synergies" among the three airline companies exist.
Global Aero Logistics today
Today, Global Aero Logistics has combined revenues of more than $1 billion, 34 leased aircraft (most from GECAS and ILFC), and more than 2,200 employees. Global Aero Logistics Inc. provides services in the passenger, commercial passenger ad-hoc lease and wet lease charter, military-on-demand and cargo charter ACMI markets in which an increasingly greater amount is now being concentrated in the hands of this one particular company with two subsidiaries.
Among Global Aero Logistics significant competitors amidst this dwindling field of operators on the passenger side, who specialize in AMC charter contracts and (ACMI) and charter markets are, Omni Air International and TSI Holdings, Miami International Airlines, both of which are substantially smaller than ATA's former, stand alone operations. On the cargo side, Global Aeros Logistics operations performed by World Airways remain distant rivals to the vastly growing ABX Air's airline holdings operations and network which are now inclusive of the much smaller (ATI) Air Transport International and Capital Cargo International Airlines who at one time were fierce competitors for similar contracts. North American flew to the African continent with a link up to Virgin Nigeria Airlines , but all scheduled passenger service was discontinued in May 2008 as a result of the fuel price rise escalations of 2007-2008.[7] Global Aero Logistics has substantial fleet operations transiting through Atlanta ATL, New York (JFK), Baltimore Washington BWI, Dallas Ft. Worth DFW and Houston (IAH) on a regular basis.
On April 2, 2008, ATA Airlines filed Chapter 11 bankruptcy and immediately ceased all operations.[8] The sibling airlines will continue to operate. With the MatlinPatterson decision to shutter ATA Airlines, the same hedge fund in control of the remaining assets of ATA Airlines (MatlinPatterson).[9] and World Air Holdings, has now decided to acquire the cargo carrier Arrow Air, which does business as (d/b/a) Arrow Air Cargo out of Miami.
Fleet
As of December 31 2008, Global Aero Logistics has 34 transoceanic capable aircraft in its fleet, consisting of 5 narrow-body and 29 (company information)wide-body hulls [']:[10][11][12]
| Aircraft | Total | Passengers (Business/Coach) |
Routes | Notes |
|---|---|---|---|---|
| North American Airlines Fleet | ||||
| Boeing 757-200 | 5 | 199 (16/183) | Scheduled / Charters | |
| Boeing 767-300 | 5 | 206 (30/176) 247 (247) |
Scheduled / Charters | |
| World Airways Fleet | ||||
| McDonnell Douglas DC-10-30 | 7 | 291 (24/267) 357 (357) |
Charters | 2 are configured as cargo aircraft |
| McDonnell Douglas MD-11 | 14 | 323 (27/296) 400 (400) |
Charter | 9 are configured as cargo aircraft |
| Boeing 747-400 | 2 | Cargo | agreement to lease two cargo aircraft[1] |
Global Aero Logistics is expected to receive some Airbus A330-200F from an order placed by parent company MatlinPatterson.[13]
Destinations
As of May 2008, Global Aero Logistics offers no scheduled service, however maintains various charter destinations:
ATA Airlines Destinations
- ATA Airlines provided scheduled service to 13 destinations at the time of its shut down on April 3, 2008.
Main article:
ATA Airlines destinations
North American Airlines Destinations
- North American Airlines provided scheduled service to 5 destinations prior to May 20, 2008. The airline currently provides charter operations.
Main article: North American Airlines destinations
World Airways Destinations
- World Airways does not provide scheduled service to any destination, however, the airline does have extensive charter operations.
Management
Bill Garrett
- Chief Financial Officer (CFO) of Global Aero Logistics Inc. from MatlinPatterson.
- Officer since: October (with Global Aero Logistics Inc. corporate headquarters move to Atlanta.)
Charlie McDonald
- President, Global Aero Logistics Inc.
Jeff Sanborn
- Senior Vice President and Chief Marketing Officer (CMO) Global Aero Logistics Inc.[2]
Rob Binns
- CEO of Global Aero Logistics Inc.
- Officer Since: World Air Holdings merger went into effect.
Larry Montford
- COO of World and Senior Vice President Global Aero Logistics
Jeff Wehrenberg
- COO North American Airlines and Senior Vice President Global Aero Logistics Inc.
References
- ^ Global Aero Logistics acquisition of World Air Holdings
- ^ ATA Holding changes its name
- ^ ATA Holdings Corp. to Sell ATA Training Corporation
- ^ SEC Info - Ata Holdings Corp - 8-K - For 6/19/97
- ^ Global Aero Logistics Completes Acquisition of World Air Holdings
- ^ Ambassadair Travel Club - Company Profile
- ^ ATW Daily News
- ^ ATA Airlines
- ^ MarketWatch.com Story
- ^ ATA Airlines Fleet
- ^ North American Airlines Fleet
- ^ World Airways Fleet
- ^ MatlinPatterson signs for six A330-200F Airbus Press Centre, 28 January 2008
External links
- ATA's Executive Management Team
- ATA Airlines official website
- North American Airlines official website
- World Airways official website
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