Why Atlas Air Stock Is Flying High Today
Charter airline operator Atlas Air Worldwide Holdings (NASDAQ: AAWW) is reportedly in advanced talks to be acquired by a private equity consortium. Investors are buying the rumor, sending Atlas Air shares up as much as 16% on Monday afternoon.
Atlas operates under a number of brands providing freight, charter, and military aviation services to customers. The company is perhaps best known as one of the main operators of Amazon's cargo aviation operations, the result of a 2016 agreement that provided Amazon with warrants to acquire shares of the airline.
Atlas may not be a public company for much longer. On Monday, The Wall Street Journal reported that a group led by Apollo Global Management (NYSE: APO) is in advanced talks to acquire Atlas, with a deal announcement expected soon if talks do not fall apart.
Source Fool.com
