A provider of aircraft leasing, air transportation and aviation support solutions, today announced the completion of the sale of Omni Air International to OAI Holdings, LLC. The deal is a follow-up to a previously announced divestment, and in part a return to the group’s core air cargo activities.

Omni Air International specializes in passenger Aircraft, Crew, Maintenance and Insurance (ACMI) services as well as passenger charter operations. OAI Holdings, its new owner, is a privately held company with a management team with deep experience in the aviation industry. The financial terms and purchase price of the deal have not been disclosed by either side.

The sale has now closed and ATSG is reshaping its business around the markets that are central to its operations. The company’s strategic focus will be air cargo transport and aircraft leasing and it will continue to build the aviation services that support these activities. These are aircraft maintenance, ground handling and logistics solutions.

“We are pleased to have completed the process after exploring strategic alternatives for Omni over an extended period,” said ATSG President and Chief Executive Officer Greg Mays. He also expressed confidence in the new owners’ ability to run the airline and continue to serve customers through OAI Holdings.

"ATSG will be able to focus greater attention and resources on opportunities in air cargo and related aviation services as a consequence of the divestiture," Mays added. “The company’s refreshed strategic focus will help accelerate investment in its core markets, respond to changing customer needs and support the continued execution of its long-term business strategy,” he said.

Both parties were advised on the transaction by financial and legal advisers. Goldman Sachs & Co. LLC was the financial advisor to ATSG, with Simpson Thacher & Bartlett LLP and Hogan Lovells Cadwalader US LLP acting as legal counsel.

On the buyer’s side, OAI Holdings retained BDT & MSD Partners as its financial adviser and Spencer Fane, LLP acted as legal counsel throughout the transaction.

Completing the sale is a major portfolio change for ATSG that will allow the group to simplify its operations and concentrate its resources on the air cargo and aviation support markets that will drive its future growth.