A Boeing 747 cargo freighter belonging to Atlas Air.
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No deal has been reached and details of the transaction, including the purchase price and the composition of the investment group, could not be learned.
Atlas Air is a holding company that provides air-freight and charter passenger travel for individuals, businesses and government agencies. Based in Purchase, New York, it has a market capitalization of more than $2 billion.
Atlas Air boasts of the world’s largest fleet of Boeing 747 freight aircraft, according to its website. Apollo Global is a buyout behemoth with about $500 billion in assets under management. The Wall Street Journal reported the talks between Apollo and Atlas Air earlier on Monday. Atlas Air shares rose 13%.
Atlas Air did not immediately respond to a request for comment.