Global Aero Logistics completes World Air takeover

Global Aero Logistics completes World Air takeover Global Aero Logistics Inc., parent company of ATA Airlines, has completed the acquisition of World Air Holdings Inc., parent of World Airways and North American Airlines, in a deal worth about $315 million.
   The combined company will provide diverse airlift services, including scheduled and charter passenger service as well as cargo charters. The new entity will have a combined workforce of more than 4,500 employees, 56 aircraft and 2006 revenues of about $1.6 billion.
   Global’s majority owner is MatlinPatterson Global Opportunities Partners II.