Air Transport Services Grp Inc - ATSG STOCK NEWS

Air Transport Services Group (NASDAQ: ATSG) held a virtual stockholder meeting, re-electing ten directors to the Board for one-year terms. Stockholders ratified Deloitte & Touche LLP as the independent auditor for fiscal 2021 and approved the 2020 executive compensation on an advisory basis. A stockholder proposal regarding the right to act by written consent was rejected. The full results will be submitted in a Form 8-K with the SEC, and an audio replay of the meeting will be available after May 28, 2021.

Air Transport Services Group (ATSG) announced that its subsidiary, Cargo Aircraft Management, will lease four Boeing 767-300 converted freighters to DHL Network Operations. These leases, structured as stand-alone dry agreements for seven years, will expand DHL's capabilities within its global network. Three aircraft are scheduled for delivery in the second half of 2021, with one more in early 2022. This addition will bring the total number of leased Boeing 767 aircraft from ATSG to 17, enhancing support for DHL's growing shipment volume amidst a competitive freighter market.

Air Transport Services Group (Nasdaq: ATSG) reported a first-quarter 2021 revenue of $376.1 million, down $13.2 million from the previous year. ACMI Services revenues fell by $37 million, while aircraft leasing revenues increased by $14.1 million due to new leases. GAAP Earnings from Continuing Operations were $42.3 million, compared to $133.7 million a year prior. Government grants added $21.6 million to net income. ATSG expects a 2021 Adjusted EBITDA of at least $525 million, driven by a strong leasing business and Amazon's support through the exercise of warrants, despite slower recovery in passenger operations.

Air Transport Services Group (NASDAQ: ATSG) will host an investor conference call on May 6, 2021, at 10 a.m. ET to discuss its Q1 financial results ending March 31, 2021. The earnings release will be issued on May 5, 2021, after market close. Participants can join by calling (800) 708-4540 with passcode 50155298 or via live webcast on ATSG's website. A replay will be available starting May 6, 2021, at 2 p.m. ET. Additionally, ATSG's annual stockholders meeting is scheduled for May 26, 2021, at 11 a.m. ET, open to shareholders of record as of March 29, 2021.

Airborne Maintenance & Engineering Services, Inc., a subsidiary of Air Transport Services Group (NASDAQ: ATSG), has completed a 17-week renovation and expansion of its Component Repair/Overhaul and Manufacturing facility. This investment aims to enhance repair services and align with customer service commitments. The project, in collaboration with the University of Akron, advances research in Supersonic Particle Deposition (SPD) technology. The renovation includes new machinery and increases the manufacturing footprint, which allows for additional repair opportunities for aircraft components.

Air Transport Services Group (NASDAQ: ATSG) announced the delivery of a Boeing 767-200 converted freighter to Raya Airways, a Malaysian cargo airline, under a five-year lease. This marks the third freighter leased to Raya by ATSG, reinforcing its position as a leader in 767 freighter leasing. Raya Airways, which operates a network across Southeast Asia and North Asia, expressed satisfaction with the Boeing 767's performance, noting its pivotal role in the airline's growth. ATSG plans to further develop its relationship with Raya to support the airline's expansion in the Asia-Pacific market.

Air Transport Services Group (NASDAQ: ATSG) has announced the upsize of its previously planned private offering of senior notes by its subsidiary, Cargo Aircraft Management (CAM), from $150 million to $200 million. The new 4.750% senior notes due 2028 will be priced at 102.750% of their face amount, yielding 3.96%. Proceeds will be used to reduce revolving credit commitments under ATSG’s credit agreement. The offering, which complies with Rule 144A and Regulation S, is expected to close on April 13, 2021.

Air Transport Services Group, Inc. (NASDAQ: ATSG) has initiated a $150 million add-on offering of its 4.750% senior notes due 2028, via its subsidiary Cargo Aircraft Management, Inc. The new notes are fully fungible with previously issued $500 million notes under the same indenture. Proceeds will be used to repay revolving loans and cover offering-related expenses. This unregistered offering follows SEC regulations and is not available for sale in the U.S. without appropriate registration.

Airborne Training Services, a subsidiary of Air Transport Services Group (ATSG), has launched a newly redesigned website at www.airbornets.com. The updated site showcases class offerings and training equipment, including Airline Transport Pilot Certification Training Program and access to FAA-certified simulators for Boeing 767 and 757. This website is the first of six planned sites to be launched in 2021. Airborne Training Services operates under a Part 142 certificate and emphasizes safety and professionalism in pilot training.