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Posted On: 09/04/2017 1:28:58 PM
Post# of 41414
USGlobal inks $6.5mn deal to buy Songbird Airways
USGlobal Airways (BTL, Newburgh) has announced it has completed the acquisition of Part 121-certified carrier Songbird Airways (SGB, Lakeland) following the signing of a Letter of Intent (LOI) in June.
USGlobal, formerly known as Baltia Air Lines, said in an SEC filing last week that it entered into a formal agreement with AerLine Holdings Inc. to acquire all Songbird stock. The transaction is valued at USD6.5 million and expected to close on October 15, 2017.
In addition to the purchase, USGlobal will lease B737-400 - N417XA (msn 25417) - from AerLine. The aircraft will undergo a C Check prior to induction into USGlobal service.
In addition to its air carrier certificate, USGlobal Airways is also eyeing Songbird's certificate of public convenience and necessity issued by the Department of Transportation to conduct interstate and foreign charter air transportation.
Source...
USGlobal Airways (BTL, Newburgh) has announced it has completed the acquisition of Part 121-certified carrier Songbird Airways (SGB, Lakeland) following the signing of a Letter of Intent (LOI) in June.
USGlobal, formerly known as Baltia Air Lines, said in an SEC filing last week that it entered into a formal agreement with AerLine Holdings Inc. to acquire all Songbird stock. The transaction is valued at USD6.5 million and expected to close on October 15, 2017.
In addition to the purchase, USGlobal will lease B737-400 - N417XA (msn 25417) - from AerLine. The aircraft will undergo a C Check prior to induction into USGlobal service.
In addition to its air carrier certificate, USGlobal Airways is also eyeing Songbird's certificate of public convenience and necessity issued by the Department of Transportation to conduct interstate and foreign charter air transportation.
Source...
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