Atlas Air Worldwide Holdings has completed the acquisition of Southern Air Holdings for approximately US$110 million.

“We are proud to welcome Southern Air, its operating companies, and its professional, experienced workforce to the Atlas family,” said William J. Flynn, president and chief executive officer of Atlas Air Worldwide. “Together, we will be a stronger, more diversified, more profitable company offering access to the widest range of modern, efficient aircraft for domestic, regional and international applications. We have known and respected Southern Air for some time, and we have a lot in common. We are both committed to safety, customer service, and performance excellence. Our complementary operations will also provide a broader array of services for customers and new avenues of business growth, which will generate greater opportunities for employees and drive value for shareholders.”

Southern Air’s fleet consists of five Boeing 737-400Fs and five 777Fs, operated on an ACMI or CMI basis.

The acquisition will result in a fleet of more than 75 aircraft and is expected to bring about US$100 million in additional annual revenue, according to Atlas.

The deal was announced in January 2016.