Apollo Global Management is considering a potential sale of Atlas Air Worldwide Holdings, according to a report by Bloomberg citing people familiar with the matter. The alternative asset manager is said to be in the early stages of assessing options for the aviation business and could seek a valuation of more than $12bn, including debt.
Preliminary interest has reportedly been shown by other industry participants and private equity firms, though discussions remain at an early stage and Apollo could ultimately decide to retain the asset. Atlas Air provides aircraft leasing, charter cargo and passenger services, operating a fleet of Boeing aircraft including 747s, 777s, 767s and 737s. Its offering includes both dry leasing arrangements and wet leasing, where aircraft are supplied with crew, maintenance and insurance.
Apollo-led investors acquired Atlas Air in 2022 for approximately $5.2bn, including debt. The potential divestment comes amid continued consolidation in the aviation and leasing sector, following recent large-scale transactions involving strategic and financial investors.
