Airlines and logistics company Fly Express Logistics announced plans to buy out US-based Enkay Express Logistica for $2.8 billion
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The parent company of Fly Express, a US-listed logistics company, has acquired Enkay Logistics, a French-based logistics company that operates in several countries.
The deal will create a company with a fleet of nearly 1,000 airplanes, 1,400 trucks and 1,100 trains, as well as an aircraft leasing service that will provide flights to customers in over 200 countries.
Fly Express Logis plans to add an aircraft lease service to its fleet of over 1,200 aircraft and 1 and100 trucks.
Enkay Logisticas parent company, Enkay, has a fleet that includes Boeing 767s and Airbus A330s.
“Enkay is the most innovative and innovative business in the world, and we are thrilled to be able to work together on Fly Express,” Fly’s chairman and CEO, Tom Koehler, said in a statement.
In a blog post, EnKay’s chief financial officer, Patrick Foschini, said the acquisition would result in a combined company that has “excellent long-term prospects” for revenue growth and is “a strong candidate for our growth.”
“Fly Express is one of the most sophisticated logistics companies in the business today,” Foschi said.
The deal, which was approved by a panel of the US Securities and Exchange Commission, is expected to close in the second quarter of 2021.
Fly Express currently operates in more than 40 countries and operates in nearly 30 different regions of the world.
On Monday, Fly announced that it had entered into an agreement to acquire the company, which has operations in five continents.
Last week, Fly reported that it was acquiring Enkay and that it would launch a new company, Fly Express Air Logistics.
(Read more: Fly Express CEO Tom Kroehler: Enkay is ‘the most innovative business’ in the aviation industry)
The parent company of Fly Express, a US-listed logistics company, has acquired Enkay Logistics, a French-based logistics company that operates…