Welcome to our dedicated page for Air Transport Services Group news (Ticker: ATSG), a resource for investors and traders seeking the latest updates and insights on Air Transport Services Group stock.
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) reported consolidated financial results for Q4 and FY 2020, highlighting a decline in customer revenues by $4 million to $399.4 million in Q4, yet an annual increase of $118.4 million to $1.57 billion. ACMI Services revenues fell $17.9 million, attributed to pandemic impacts. Aircraft leasing saw a rise of $9.3 million due to increased Boeing 767 deployments. ATSG's GAAP earnings turned positive at $2.3 million in Q4, contrasting a loss of $41.1 million in 2019, yet down from $25.1 million for the year. Adjusted EBITDA for 2020 was $497 million, a $44.9 million increase.
Air Transport Services Group (NASDAQ:ATSG) will host an investor conference call on February 26, 2021, at 10 a.m. ET to discuss its fourth quarter and year-end financial results for 2020. The earnings release will be available on February 25, 2021, after market closure. Participants can join the call by dialing (800) 708-4540 or (847) 619-6397 for international callers. The call will also be webcast live on the company's website. A replay will be accessible after the call ends.
ATSG is a leader in aircraft leasing and air cargo services, operating the largest fleet of converted Boeing 767 freighters.
Air Transport Services Group (NASDAQ: ATSG) announced that its subsidiary, LGSTX Services, secured a five-year contract with the U.S. Postal Service to establish a Surface Transfer Center (STC) in Orlando, Florida. This facility will streamline the sorting and consolidation of postal products. LGSTX Services has hired around 150 full-time employees for the center, with potential for more hires as demand increases. The company's experience in managing similar facilities for the Postal Service highlights their capability to meet operational needs and deliver efficient service.
Air Transport Services Group (Nasdaq: ATSG) will present a webcast at the Stifel Virtual Transportation & Logistics Conference on February 10, 2021, at 2 p.m. ET. CEO Rich Corrado and CFO Quint Turner will discuss ATSG's business model as a leading lessor of freighter aircraft, servicing clients like Amazon and UPS. They will highlight financial performance, focusing on growing cash flows from their leased aircraft portfolio. The live audio webcast and investor slide presentation will be accessible on their website for 30 days.
The Board of Directors of Air Transport Services Group (NASDAQ: ATSG) has appointed Phyllis J. Campbell and Paul S. Williams to its Board. Campbell, currently chairman of the Pacific Northwest region for JPMorgan Chase, brings extensive financial services experience. Williams, a former managing director at Major, Lindsey & Africa, adds executive recruiting expertise. Board chairman Joe Hete expressed confidence that their insights will enhance ATSG's strategic direction and growth opportunities. Both will be nominated for a one-year term at ATSG's annual shareholder meeting in May.
Air Transport Services Group (NASDAQ:ATSG) has announced a significant milestone, agreeing to purchase two Boeing 767-300ER aircraft from Air Canada. The deal includes converting the planes from passenger to freighter configurations and leasing them back to Air Canada. The first aircraft will undergo conversion in March 2021, with an expected redelivery by year-end. This partnership marks ATSG's first sale-leaseback agreement with Air Canada, aimed at enhancing Air Canada's cargo operations in response to growing market opportunities.
Air Transport Services Group (NASDAQ: ATSG) announced that pilots of its subsidiary ABX Air have approved an amendment to their Collective Bargaining Agreement. This vote, supported by the Airline Professionals Association of the IBT, reflects a unified approach towards growth and enhanced customer service. The amended agreement will take effect on January 1, 2021, and will remain amendable for six years. Specific terms of the agreement were not disclosed. ATSG is a leading provider in aircraft leasing and air cargo services, operating the largest fleet of converted Boeing 767 freighter aircraft.
Air Transport Services Group (ATSG) announced that its subsidiary, ABX Air, has reached a tentative agreement to amend its collective bargaining agreement with over 230 pilots. This agreement, if ratified, will extend for six years and aims to enhance ABX Air's competitive position, providing employees with opportunities for career advancement. Specific terms will be disclosed before a ratification vote, expected to conclude by year-end. ATSG is a leading provider of aircraft leasing and air cargo services, operating the largest fleet of converted Boeing 767 freighters.
Air Transport Services Group (Nasdaq: ATSG) will present a webcast at the 2020 Stephens Investment Conference on November 18, 2020, at 8:00 a.m. Eastern time. The presentation, led by CEO Rich Corrado and CFO Quint Turner, will cover ATSG's business model as a top independent provider of converted Boeing 767 freighter aircraft and will highlight recent developments, including their Q3 2020 financial results and new leasing agreements. The presentation will be accessible live and on-demand for 10 days via www.atsginc.com.
FAQ
What is the current stock price of Air Transport Services Group (ATSG)?
What is the market cap of Air Transport Services Group (ATSG)?
What services does Air Transport Services Group, Inc. offer?
Which segments generate the majority of ATSG's revenue?
What recent achievements has ATSG accomplished?
What are the major subsidiaries of ATSG?
What types of aircraft does ATSG's fleet include?
Where can I find more information about ATSG?
What is the Specialized Procedures Aeroengine Hospital (SPAH)?
What is the significance of the EASA certification for ATSG?
What is the primary mission of ATSG?
What are the key business segments of ATSG?
