- Adds $430 million in revenues with strong margins, sustained cash flows
- Blue-chip customer base provides significant revenue diversification
- Adds Boeing 777 platform and more 767s to the ATSG fleet
- Exceeds ATSG’s investment hurdle and immediately accretive in 2019
- Blue-chip customer base provides significant revenue diversification
- Adds Boeing 777 platform and more 767s to the ATSG fleet
- Exceeds ATSG’s investment hurdle and immediately accretive in 2019
WILMINGTON, OH – October 2, 2018 – Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced that it has agreed to acquire Omni Air International LLC (Omni Air), a passenger ACMI and charter services provider with significant experience serving U.S. and allied foreign governments and commercial customers, for $845 million, subject to customary adjustments. The company did not assume any debt in connection with the acquisition.
Omni Air International N918AX (Boeing 777 - MSN 26935) (Ex N789UA VT-AIL ) details, operators, engines, seating, photos. Omni Air International. Latest Most liked Most popular. Boeing 777-200ER. Stefan Markov-LBSF Sofia Omni Air International Boeing 777-200ER.
Cleo ii slot machine. Omni Air is a leading provider of passenger airlift services to the U.S. Department of Defense (DoD) via the Civil Reserve Air Fleet (CRAF) program, and a worldwide provider of full-service passenger charter and ACMI services. Omni Air also carries passengers worldwide for a variety of private sector customers and government services firms. Omni Air, founded in 1993, is an FAR Part 121 certificated and IATA Operational Safety Audit registered airline.
The combination with Omni Air is anticipated to add over $430 million in annualized revenues to ATSG. It also exceeds ATSG’s investment hurdle and is expected to be immediately accretive to ATSG’s adjusted earnings per share in 2019, with Adjusted EBITDA in line with ATSG’s margin profile. After adjusting for the present value of tax benefits, which are estimated to be approximately $85 million, the implied acquisition multiple is 5.8x Omni Air’s adjusted EBITDA for the trailing 12 months ending August 2018.
The acquisition of Omni Air will further diversify ATSG’s customer base, add significant presence in the growing government passenger charter services market, add 13 aircraft to ATSG’s fleet, and broaden the ATSG carriers’ operating capabilities to include three Boeing 777-200 extended range (ER) aircraft. The transaction will further ATSG’s strategic goals by adding growth opportunities with long-time and blue-chip customers, and by positioning it to meet customers’ global cargo needs with the longer-range 777 platform. The strong recurring cash flows from Omni Air’s operations augment the sustainable cash flow generated by ATSG’s dry leasing business model.
Omni Air’s fleet, which includes seven 767-300ER, three 767-200ER and three 777-200ER aircraft, complements ATSG’s industry leading fleet of Boeing 737, 757, and 767 aircraft, and further solidifies its position as the world’s largest source of dedicated 767 cargo aircraft to selected air-express and other operators. Eleven of the thirteen 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.
Joe Hete, President and Chief Executive Officer of ATSG, said, 'Combining ATSG and Omni Air’s operating expertise and array of aircraft options fulfills several of our principal goals – to broaden ATSG’s ACMI capabilities; grow and diversify our revenue streams with government and commercial customers; and reach new global markets with our full range of leasing, operating, and aircraft maintenance capabilities. We look forward to working with Omni’s excellent management team to pursue new growth opportunities, including serving the expanding global e-commerce demand.”
Jeff Crippen, President and Chief Executive Officer of Omni Air, welcomed the acquisition, noting the two companies’ complementary cultures and a strong strategic fit.
'We have tremendous respect for the ATSG team,' Crippen said. 'Combining Omni Air and ATSG’s experience and skillsets unquestionably makes for a stronger company that can better serve its customers worldwide.'
Omni Air will operate as a separate subsidiary within ATSG under Jeff Crippen’s leadership from its existing Tulsa, Oklahoma, headquarters. An invitation has been extended to Rob Coretz, chairman, co-founder, and former CEO of Omni Air, to join ATSG’s board.
ATSG plans to fund the all-cash acquisition of Omni Air by expanding the term loan under its existing credit facility. The agreement is expected to close during the fourth quarter of 2018, subject to regulatory approvals. ATSG was advised by Goldman Sachs & Co LLC and Vorys Sater Seymour and Pease LLP, and its committed financing was arranged by SunTrust Robinson Humphrey. Omni Air was advised by BDT & Company as financial adviser and Conner & Winters, LLP as legal adviser.
Conference Call
ATSG will host a conference call with slide support via webcast today at 11 a.m. Eastern time to provide additional information about this transaction. Participants should dial (800) 708-4540 and international participants should dial (847) 619-6397 ten minutes before the scheduled start of the call and ask for conference pass code 47660959. The call will also be webcast live (listen-only mode) via www.atsginc.com. A replay of the conference call will be available by phone beginning at 2 p.m. today and continuing through October 9, 2018, at (888) 843-7419 (international callers (630) 652-3042); use pass code 47660959#. The webcast replay will remain available via www.atsginc.com for 30 days.
ATSG will host a conference call with slide support via webcast today at 11 a.m. Eastern time to provide additional information about this transaction. Participants should dial (800) 708-4540 and international participants should dial (847) 619-6397 ten minutes before the scheduled start of the call and ask for conference pass code 47660959. The call will also be webcast live (listen-only mode) via www.atsginc.com. A replay of the conference call will be available by phone beginning at 2 p.m. today and continuing through October 9, 2018, at (888) 843-7419 (international callers (630) 652-3042); use pass code 47660959#. The webcast replay will remain available via www.atsginc.com for 30 days.
About Air Transport Services Group, Inc. (ATSG)
ATSG is a leading provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the world's largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including two airlines with separate and distinct U.S. FAR Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services. ATSG's subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Airborne Maintenance and Engineering Services, Inc. including its subsidiary, Pemco World Air Services, Inc. $500 slot machine wins.
ATSG is a leading provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the world's largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including two airlines with separate and distinct U.S. FAR Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services. ATSG's subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Airborne Maintenance and Engineering Services, Inc. including its subsidiary, Pemco World Air Services, Inc. $500 slot machine wins.
About Omni Air International LLC
Winner casino reviews las vegas. Omni Air International, LLC is a privately held American charter airline headquartered at Tulsa International Airport in Tulsa, Oklahoma. It operates worldwide passenger charter flights and ACMI leasing, principally to commercial customers and U.S. and allied governments. Omni Air is an FAR Part 121 and IOSA registered airline.
Winner casino reviews las vegas. Omni Air International, LLC is a privately held American charter airline headquartered at Tulsa International Airport in Tulsa, Oklahoma. It operates worldwide passenger charter flights and ACMI leasing, principally to commercial customers and U.S. and allied governments. Omni Air is an FAR Part 121 and IOSA registered airline.
Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. There are a number of important factors that could cause Air Transport Services Group's (ATSG's) actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, (i) that one or more closing conditions to the acquisition, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the acquisition, or may require conditions, limitations or restrictions in connection with such approvals; (ii) the risk that the acquisition may not be completed on the terms or in the time frame expected by ATSG, or at all; (iii) uncertainty of the expected financial performance of the combined company following completion of the acquisition; (iv) failure to realize the anticipated benefits of the acquisition; (v) difficulties and delays in achieving synergies of the combined company; (vi) inability to retain key personnel; (vii) the occurrence of any event that could give rise to termination of the acquisition; (viii) changes in general economic and/or industry specific conditions; and (ix) actions by third parties, including government agencies; and other factors that are contained from time to time in ATSG's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on ATSG's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ATSG undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
| |||||||
Founded | 1993 | ||||||
---|---|---|---|---|---|---|---|
AOC # | CNMA334B[1] | ||||||
Fleet size | 14 | ||||||
Destinations | Worldwide | ||||||
Parent company | Air Transport Services Group (ATSG) | ||||||
Headquarters | Tulsa International Airport Tulsa, Oklahoma | ||||||
Key people | Jeff Crippen (CEO/President) Dan Orcutt (COO) | ||||||
Website | www.oai.aero |
Omni Air International, LLC. is a United Statescharter airline headquartered in Hangar 19 on the grounds of Tulsa International Airport in Tulsa, Oklahoma, United States.[2] It specializes in passenger charter flights, and Aircraft Crew Maintenance Insurance (ACMI) wet leasing.[3] Omni is an FAA Part 121 certificated airline with IATA Operational Safety Audit (IOSA) registration.
Omni Air International is one of the few airlines willing to cooperate with Immigration and Customs Enforcement (ICE) in controversial (sometimes termed 'high-risk') deportations.[4] The company has been characterized as engaging in price-gouging over its role in deportation flights.[4] For its role in deporting 163 people on Nov. 18, 2019, Omni Air charged U.S. taxpayers $1.8 million.[4] In 2020, Omni Air obtained $67 million in coronavirus relief aid, as well as a $77.65 million contract with the Donald Trump administration's Department of Defense for 'international charter airlift services.'[5]
History[edit]
A former Omni Air McDonnell Douglas DC-10 at Hanover Airport, Germany in 2008
The airline was established under the name Omni Air Express and started operations in March 1993 with a Boeing 727 freighter aircraft. In 1993, Omni started its Part 121 air carrier operations with Boeing 727F equipment in the narrow-body cargo market. Customers included many of the industry's largest integrated shipping companies such as BAX Global, DHL, Emery Worldwide and UPS.[6]
In 1997 the company changed its name to Omni Air International and launched passenger operations with D McDonnell Douglas DC-10-10s.
In 1998, the company sold its Boeing 727F fleet to focus exclusively on its growing passenger business. From 1998 to 2000 the company acquired three second-hand long-range McDonnell Douglas DC-10-30s and began providing international charter service to wholesale companies, cruise lines, wet lease Aircraft, Crew, Maintenance and Insurance (ACMI) for other airlines and the US Department of Defense.
In April 2003, the Boeing 757-200 passenger aircraft was added to its fleet. The 757-200 fleet was approved for extended range over water operations (ETOPS). With the addition of these aircraft to its fleet, Omni was awarded 180-minute ETOPS approval by the FAA. This was the second time in the history of US aviation that immediate 180-minute ETOPS approval was granted. Boeing 767-300ER aircraft were added starting in August 2009, and Boeing 777-200ER aircraft began operating in April 2011. That same year the Boeing 767-200ER was added to the fleet.
In 2011, Omni retired the McDonnell Douglas DC-10s from the fleet and received its IATA Operational Safety Audit (IOSA) registration. In 2012 Omni retired the Boeing 757-200.
In March of 2018, Omni set a new high for first officer pay that made its first-year first officers the highest-paid in the industry. The deal also provided better benefits to their pilots, including first-class travel for pilots deadheading on flights longer than three hours. [7]On October 2, 2018, Air Transport Services Group (ATSG) announced it will acquire Omni subject to regulatory approval.[8] On November 9, 2018 Air Transport Services Group (ATSG) completed its $845 million acquisition of Omni.[9]
In September 2019, Omni joined the largest ever repatriation of British citizens in peacetime after the catastrophic collapse of the UK’s Thomas Cook Airlines. The airline was contracted by the Civil Aviation Authority under the instruction of the British government to operate rescue flights returning stranded Thomas Cook passengers to the UK.[10]
On 28th August 2020, An Omni Air International Boeing 767 (registered N423AX) operated a flight between Kabul, Afghanistan and Washington, United States with a scheduled refueling stop at Bucharest, Romania. During landing at the Romanian capital, the aircraft’s left-hand main landing gear collapsed. The aircraft continued to skid along the runway. Emergency slides were used to evacuate the 80 passengers from the aircraft.[11]
Fleet[edit]
Omni Air Boeing 767-300ER
Omni Air Boeing 777-200ER
Omni currently operates an all-Boeing fleet of B767 and B777 aircraft. As of June 2020, the Omni Air International's all wide-body aircraft fleet consists of the following aircraft:
Omni Air International 777
Aircraft | Total | Orders | Passengers | Notes | ||
---|---|---|---|---|---|---|
C | Y | Total | ||||
Boeing 767-200ER | 3 | 0 | 18 | 195 | 213 | [12] |
20 | 198 | 218 | [13] | |||
Cargo | ||||||
Boeing 767-300ER | 8 | 0 | 22 | 224 | 246 | |
16 | 227 | 243 | 1 Parked | |||
0 | 272 | 272 | ||||
Cargo | ||||||
Boeing 777-200ER | 3 | 0 | 0 | 380 | 380[14] | |
Cargo | ||||||
Total | 14 | 0 |
References[edit]
Omni Air International Routes
- ^'Federal Aviation Administration - Airline Certificate Information - Detail View'. av-info.faa.gov. Retrieved 2019-06-27.
- ^'Contact as of October 15, 2018, Omni Air International, LLC., 3303 N Sheridan Rd, Hangar 19 Tulsa, OK 74115.'
- ^'Directory: World Airlines'. Flight International. 2007-04-10. pp. 58–59.
- ^ abcRohrlich, Justin. 'The sole airline willing to fly 'high-risk' deportations is price-gouging ICE'. Quartz. Retrieved 2020-06-23.
- ^'Deportation airline secures $67 million in coronavirus bailout'. news.yahoo.com. Retrieved 2020-06-23.
- ^'History' in Omni Air International Retrieved October 15, 2018.
- ^https://www.flightglobal.com/omni-air-to-set-new-high-for-first-officer-pay-union/127303.article
- ^'ATSG Press Release'
- ^'ATSG Completes Omni Air Acquisition'. MarketWatch. Retrieved 2020-01-03.
- ^https://thomascook.caa.co.uk/customers/if-you-are-currently-abroad/guidance-by-destination/usa/orlando-mco/27-september/
- ^https://www.aviation24.be/airlines/omni-air-international/boeing-767-suffers-main-landing-gear-collapse-during-landing-at-bucharest-airport/
- ^https://www.aircanada.com/ca/en/aco/home/book/travel-news-and-updates/2019/737-airspace-closure.html
- ^https://www.aircanada.com/ca/en/aco/home/book/travel-news-and-updates/2019/737-airspace-closure.html
- ^Omni Air Intl official fleet page
External links[edit]
Boeing 777 Interior Pictures
Wikimedia Commons has media related to Omni Air International. |
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