Global Aviation Holdings: Difference between revisions
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**Officer Since: [[February 21]], [[2005]] (when holding company was named "New ATA Holdings Corp.") |
**Officer Since: [[February 21]], [[2005]] (when holding company was named "New ATA Holdings Corp.") |
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===[[ |
===[[John Dennison ]]=== |
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*[[President#Non-governmental presidents|President]] of Global Aero Logistics, Inc. and [[CEO|Chief Executive Officer (CEO)]] of ATA Airlines. |
*[[ President#Non-governmental presidents|Interim President]] of Global Aero Logistics, Inc. and [[CEO|Interim Chief Executive Officer (CEO)]] of ATA Airlines. |
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**Officer Since: [[June 2]], [[2005]] (when holding company was named "New ATA Holdings Corp.") |
**Officer Since: [[June 2]], [[2005]] (when holding company was named "New ATA Holdings Corp.") |
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Revision as of 14:55, 25 March 2008
| File:Global logo.jpg | |
| Company type | Private |
|---|---|
| Industry | Transportation |
| Founded | April 5, 2007 |
| Headquarters | Indianapolis, Indiana, USA |
| Products | Airline Services |
| Website | http://www.globalaerologistics.com/ http://www.wlda.com/, http://www.worldairholdings.com/Home/tabid/338/Default.aspx |
Global Aero Logistics, Inc., formerly known as New ATA Holdings Inc., is a private airline holding company, owned by the worldwide Matlin Patterson Investment firm. The company's principal operational holding is ATA Airlines, Inc. (ATA). 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 operates three independent airlines under one umbrella: ATA Airlines[1], World Airways, and North American Airlines. Each airline, even though quite small in terms of modern airline economies of scale standards, as stated in the official announcement, is 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 CEO Subodh Karnik, "better reflects the company's diverse, worldwide operations." [2]
History
Originally named AmTran (Holdings) prior to 2002, the holding company's name was changed to ATA Holdings Corp., for increased transparency and to attract financial investors after the 9/11 economic hardships that affected the industry. ATA Holdings Corp. was a publicly traded company. 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. Today, Global Aero Logistics provides scheduled airline and cargo services, as well as military/commercial air transportation charters throughout the world.
- AMTRAN, INC. (Holdings) -------------------- 2002[2]
- ATA Holdings Corp. --------------------------- 2003-2007
- Global Aero Logistics Inc. (Holdings) - 2007- present
According to an Indianapolis press release from Global Aero Logisitcs Inc. and North American airlines, the combined companies 2006 revenues were approximately $1.6 Billion dollars [3].
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, ATA named John G. Denison as CEO in February 2005, and later that year, launched their first-ever codeshare agreement with Southwest Airlines, 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. 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 $1.7 billion, more than 50 leased aircraft (most from GECAS and ILFC), and more than 4,500 employees. Global Aero Logistics, Inc. provides services in the passenger, commercial passenger ah-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 masquerading as three separate business entities.
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.
In continued restructuring, Global Aero Logistics announced in October it would be relocating it's 94 strong IND pilot base, at one of it's three major airline subsidiaries as of December 1 2007. [4]
Currently, Global Aero Logistics is working with 49% Virgin Group / Virgin Atlantic Airways owned Virgin Nigeria Airways in securing rights for the airline to fly to the USA. Such an endeavor would likely use Global Aero Logistics longer range 767 aircraft in a wet lease agreement.[5]
Global Aero Logistics has substantial fleet operations transiting through Atlanta ATL, Baltimore Washington BWI, Chicago Midway MDW, Dallas Ft. Worth DFW, Honolulu HNL, and Oakland OAK on a regular basis.
Fleet
As of December 2007, Global Aero Logistics has 54 transoceanic capable aircraft in its fleet, consisting of 27 narrow-body and 27 wide-body hulls [']: [3][4][5]
| Aircraft | Total | Passengers (Business/Coach) |
Routes | Notes |
|---|---|---|---|---|
| ATA Airlines Fleet | ||||
| Boeing 737-800 | 12 | 160 (12/148) 175 (175) |
Medium-long haul | |
| Boeing 757-200 | 6 | 185 (12/173) 200 (200) |
Long haul and Charters | |
| Boeing 757-300 | 4 | 247 (247) | Long haul and Charters | North American launch customer |
| Lockheed L-1011-500 Tristar | 3 | 283 (283) | Military charters | Exit from service: November 2008 Replacement aircraft: Douglas DC-10-30 |
| McDonnell Douglas DC-10-30 | 4 | 318 (318) | Military charters | 9 purchased from Northwest Airlines (4 will be used by ATA) (3 will be leased to World Airways) (2 will be stored) |
| 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 | 3 | 291 (24/267) 357 (357) |
Charters | 2 are configured as cargo aircraft |
| McDonnell Douglas MD-11 | 14 | 323 (27/296) 400 (400) |
Charter | 6 are configured as cargo aircraft |
| Boeing 747-400 | 2 | Cargo | agreement to lease two cargo aircraft[6] |
Global Aero Logistics is expected to receive some Airbus A330-200F from an order placed by parent company MatlinPatterson.[6]
Destinations
As of September 2007, Global Aero Logistics serves 21 scheduled destinations, and various charter destinations:
ATA Airlines Destinations
- ATA Airlines provides scheduled service to 16 destinations.
North American Airlines Destinations
- North American Airlines provides scheduled service to 5 destinations.
- Main article: North American Airlines destinations
World Airways Destinations
- World Airways provides scheduled service to no destinations, however, the airline has an extensive charter operation.
Management
- Chairman of the Board of Global Aero Logistics, Inc.
- Officer Since: February 21, 2005 (when holding company was named "New ATA Holdings Corp.")
- Interim President of Global Aero Logistics, Inc. and Interim Chief Executive Officer (CEO) of ATA Airlines.
Bill Garrett
- Chief Financial Officer (CFO) of Global Aero Logistics, Inc. from Matlin Patterson.
- Officer since: October (with Global Aero Logistics, Inc. corporate headquarters move to Atlanta.)
Brian Hunt
- Senior Vice President of Global Aero Logistics, Inc. and Chief Administrative Officer (CAO) of ATA Airlines. Brian Hunt also serves as Associate General Counsel of Global Aero Logistics.
Charlie McDonald
- Executive Vice President and Chief Airline Officer.[8]
- COO - Chief Operating Officer of ATA Airlines Senior Vice President Global Aero Logistics, Inc.
- Officer Since: January 10, 2006 (when holding company was named "New ATA Holdings Corp.")
Larry Montford
- COO - Chief Operating Officer of World and Senior Vice President Global Aero Logistics
Jeff Wehrenberg
- COO - Chief Operating Officer North American Airlines and Senior Vice President Global Aero Logistics, Inc.
Rob Binns
- Senior Vice President and Chief Marketing Officer (CMO) of Global Aero Logistics, Inc.
- Officer Since: World Air Holdings merger went into effect.
Dick Meyer
- Senior Vice President of Employee Relations of Global Aero Logistics, Inc.
- Officer Since: (when holding company was named "New ATA Holdings Corp.")
Josef Loew
- Senior Vice President and Chief Strategy Officer Global Aero Logistics, Inc.
- Officer Since: (when holding company was named "New ATA Holdings Corp.")