Air Transport Services Group Inc. (Nasdaq: ATSG) is buying a 25 percent stake in West Atlantic AB.
Gothenburg, Sweden-based West Atlantic operates 40 aircrafts through two airlines Atlantic Airlines Ltd. and West Air Sweden AB. The company says it is Europe’s largest regional cargo aircraft operator.
Air Transport, headquartered in Wilmington, Ohio, provides aircraft leasing and air cargo transportation services. The deal should help grow the company’s role in the European market.
The deal is expected to close on Jan. 2, and the company plans to file further information in its end-of-year 10-K filing with the U.S. Securities and Exchange Commission.