Acquisition to Spawn Three Carriers

Global Aero Logistics, which owns Indianapolis-based ATA Airlines, bought World Air Holdings for $315 million in cash late last week. Both company boards unanimously approved the deal and the transaction is expected to be complete in the third quarter of 2007. Following the deal, Global Aero Logistics will operate three independent airlines: World Airways, North American Airlines and ATA Airlines. Current operations will continue as normal, the company noted.

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