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DALLAS – A group led by Apollo Global Management is in advanced talks to buy cargo airline Atlas Air Worldwide (5Y), operator of the world’s largest fleet of Boeing 747 freighters.
Atlas Air’s shares went up by 13.9% on Monday after the Wall Street Journal reported on the talks. If negotiations move forward, a deal may be reached soon, according to WSJ, which made no mention of the terms of the deal.
According to seekingalpha.com, the cargo airline announced better-than-anticipated Q1 adjusted earnings of US$2.99/share on more than US$1B in revenues.
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Source:: “Airways Magazine”