Air Transport Services Group (ATSG) has completed the sale of passenger ACMI and charter operator Omni Air International to OAI Holdings, as it refocuses its business on air cargo transportation, aircraft leasing and associated aviation services.
Financial terms of the transaction, which was previously announced, have not been disclosed.
OAI Holdings is a private investor group that includes Rob Coretz, founder of Omni Air International, and Jude Bricker, former president and chief executive of Sun Country Airlines.
Headquartered at Tulsa International Airport in Oklahoma, Omni operates Boeing 767 and 777 aircraft, providing passenger ACMI and charter services to US and allied governments, scheduled airlines and other customers.
The divestment follows a period in which ATSG had been exploring strategic options for Omni and leaves the company focused on its core cargo operations, including aircraft leasing, maintenance, ground handling and logistics services.
Greg Mays, president and chief executive of ATSG, said: “We are pleased to have completed this transaction after having explored strategic options for Omni for some time. We are confident Omni has a bright future ahead as it continues to serve its customers under OAI.”
He added that the sale would enable ATSG to accelerate investment in its core markets and respond to evolving customer requirements.
ATSG's remaining businesses include cargo airlines ABX Air and Air Transport International, alongside Cargo Aircraft Management and Airborne Maintenance & Engineering Services.
Goldman Sachs advised ATSG on the transaction, while BDT & MSD Partners acted as financial advisor to OAI Holdings.
