the airline's parent company – new ata holdings, inc. (the successor to ata holdings inc., which was also once known as amtran) – later changed its name to global aero logistics, inc. and purchased world air holdings, inc. for $315 million in an all-cash transaction with the financial backing of the investment firm, matlinpatterson. world air holdings, inc. owned and operated north american airlines and world airways as two separate us-certified air carriers. ata was north america's largest charter airline, and until its shutdown transported more troops for the united states military than any other commercial airline.