Averitt Reportedly to Sell Air Unit for $17.8 Million

he Nashville, Tenn.-based parent-company of FractionAir plans to buy the air assets of trucking firm Averitt Express for $17.8 million, the Nashville Business Journal reported.

eda Travel said in a regulatory filing it signed a letter of intent to purchase Averitt Air, Averitt Aviation, Averitt Air Charter and Averitt Aviation Group, the paper reported.

The deal, which would not include Averitt's trucking and supply chain ventures, is expected to be completed by Feb. 9, the Journal reported.

Privately held Averitt, based in Cookeville, Tenn., has truckload and less-than-truckload operations, as well as freight brokerage, warehousing and other operations.

Averitt Express is ranked No. 31 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.