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Air Transport Services Group, Inc. (ATSG) is a leading provider of air cargo transportation and related services, catering to both domestic and international clients. With a portfolio of principal subsidiaries, ATSG offers a comprehensive range of solutions including air cargo lift, aircraft leasing, maintenance services, airport ground support, fuel management, and air charter brokerage.
The company's core business revolves around two primary segments: Cargo Aircraft Management (CAM) and ACMI Services (Aircraft, Crew, Maintenance, and Insurance). The ACMI Services segment generates the majority of the company's revenue, showcasing its significant role in the cargo transportation and package delivery sectors.
ATSG's major subsidiaries include ABX Air, Inc., Air Transport International LLC, and Capital Cargo International Airlines, Inc., among others. Additionally, the company operates Airborne Maintenance & Engineering Services, Inc. and Airborne Global Services, Inc., which contribute to its diverse service offerings.
Recently, ATSG, in collaboration with GA Telesis, LLC, achieved a significant milestone by obtaining an Air Agency Certificate from the European Union Aviation Safety Agency (EASA) for their joint venture, the Specialized Procedures Aeroengine Hospital (SPAH) at the Wilmington Air Park in Ohio. This certification allows the joint venture to offer rapid jet engine maintenance services, enhancing performance reliability for up to 200 engines annually.
ATSG's robust infrastructure and strategic partnerships have enabled it to expand its global footprint, providing innovative solutions and ensuring customer success. The company's mission is further supported by its high-quality repair and overhaul services, as well as its advanced supply chain capabilities.
For more information, please visit the official website at www.atsginc.com.
Air Transport Services Group (NASDAQ:ATSG) announced the completion of its 35-day 'go-shop' period related to its previously announced merger agreement with Stonepeak. Under the agreement, Stonepeak will acquire ATSG for $22.50 per share in cash. During the go-shop period, which ended at 11:59 p.m. ET on December 8, 2024, ATSG had the right to solicit alternative takeover proposals but received none.
The transaction is expected to close in the first half of 2025, subject to ATSG shareholder approval and regulatory clearances. Goldman Sachs is serving as ATSG's exclusive financial advisor, while Evercore is advising Stonepeak.
Air Transport Services Group (ATSG) has delivered a Boeing 767-300 converted freighter to Tbilisi-based CAMEX Airlines through its subsidiary Airborne Global Leasing under a long-term lease agreement. A second Boeing 767-300 is expected to be delivered to CAMEX in 2025. CAMEX Airlines, founded in 2022, operates from hubs in Slovenia and Georgia with three Boeing 737-800BCF freighters. This delivery brings ATSG's total externally leased aircraft worldwide to 90, showcasing the success of their Lease+Plus package which offers complementary services alongside aircraft leasing.
Air Transport Services Group (ATSG) reported third quarter 2024 financial results, showing revenues of $471 million, down from $523 million in Q3 2023. The company posted a GAAP loss per share of ($0.05) compared to earnings of $0.24 in the prior year. Free Cash Flow improved significantly to $86.4 million versus negative $51.6 million last year. ATSG announced its acquisition by Stonepeak in an all-cash transaction valued at $3.1 billion, with shareholders receiving $22.50 per share. The company added four Boeing 767-300 freighter leases during Q3, though results were impacted by fewer block hours flown and higher expenses, including start-up costs for Amazon-provided aircraft operations.
Air Transport Services Group (ATSG) has announced its acquisition by Stonepeak in an all-cash transaction valued at approximately $3.1 billion. ATSG shareholders will receive $22.50 per share, representing a 29.3% premium over the closing price on November 1, 2024, and a 45.5% premium over the 90-day VWAP. Upon completion, ATSG will become private and delist from NASDAQ. The transaction, expected to close in H1 2025, includes a 35-day 'go-shop' period through December 8, 2024. The deal requires shareholder and regulatory approvals and features fully committed equity and debt financing.
Air Transport Services Group (ATSG) has partnered with Purdue Global to provide educational benefits for its employees and their immediate family members. The agreement offers a 20% tuition reduction for undergraduate programs and certificates, and 14% reduction for graduate programs, including the EdD in Leadership and Innovation. Aviation mechanics with FAA certifications can receive up to 77 transfer credits toward undergraduate degrees. The initiative aims to enhance workforce readiness and promote lifelong learning in the aviation industry through Purdue Global's online education platform designed for working adults.
Air Transport Services Group (NASDAQ:ATSG) has announced its upcoming third quarter 2024 investor conference call, scheduled for Friday, November 8, 2024, at 10 a.m. Eastern time. The company will release its Q3 2024 earnings report before the financial markets open on the same day. To participate in the Q&A session, investors must register in advance through the Events & Presentations section of ATSG's website. Registrants will receive dial-in numbers and a unique PIN for the live call.
Accompanying slides will be available on the website shortly before the call begins. For those who prefer listen-only access, both live and replay versions of the call, along with the slides, will be accessible via separate links on the ATSG website.
Omni Air International, a subsidiary of Air Transport Services Group (NASDAQ:ATSG), has announced a long-term agreement with the New England Patriots. Under this partnership, Omni will operate the Patriots' two Boeing 767-300 passenger aircraft for team travel and other charter flights. The aircraft, featuring the Patriots' team colors and Super Bowl trophies on their tails, will also be available for Omni's other charter customers.
One of the aircraft, N36NE, offers a unique cabin layout with 80 business class seats among its total 203 seats. This partnership expands Omni's diverse charter services, which include support for sports teams, film crews, music tours, corporate travel, and government and military transport worldwide.
Air Transport Services Group (ATSG) reported its Q2 2024 results, showing a decline in revenues and earnings compared to Q2 2023. Key highlights include:
- Revenues of $488 million, down from $529 million
- GAAP EPS from Continuing Operations of $0.11, versus $0.49
- Adjusted EBITDA of $130.4 million, compared to $157.1 million
- Free Cash Flow of $91.8 million, up from negative $1.3 million
Despite the decline, ATSG raised its 2024 Adjusted EBITDA outlook to approximately $526 million. The company leased four Boeing 767 Freighters to customers since June 30 and expects improved performance in the second half of 2024, particularly in Q4.
Air Transport Services Group (NASDAQ: ATSG) has announced that its subsidiary, Cargo Aircraft Management (CAM), has leased a Boeing 767-300 converted freighter to SLG Worldwide. The aircraft will be subleased to Euroavia Airlines, a cargo airline based in Larnaca, Cyprus. This lease arrangement demonstrates the appeal of ATSG's Lease+Plus package, which offers multiple services including maintenance support.
Mike Berger, CEO of ATSG, emphasized the company's focus on developing freighter capacity in growth markets where economic data supports investment. Martin Zhu, chairman of Euroavia Airlines, expressed enthusiasm about the partnership, stating that the addition will significantly enhance their ability to serve the growing demand in the Eurasia & Middle East region.
Air Transport Services Group (NASDAQ:ATSG) has promoted Todd France to Chief Commercial Officer. In this new role, France will oversee commercial activities for all ATSG companies, reporting to ATSG President Jeff Dominick. France has been with ATSG in various leadership roles, most recently serving as president of the company's aircraft leasing subsidiary, Cargo Aircraft Management. His experience includes key positions in business development and operational management across ATSG's subsidiaries.
Jeff Dominick praised France's exceptional leadership and success in developing customer relationships while managing ATSG's fleet and maintenance operations. France expressed enthusiasm for leveraging ATSG's comprehensive aviation assets and services to maximize customer value and drive sustained growth for the company.
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