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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 success of its 2024 Aviation Camp, held in June at Wilmington Air Park. The camp aimed to inspire students in grades six through twelve to pursue aviation careers via interactive activities in aircraft maintenance, flight operations, logistics, and aviation safety. Highlights included maintenance checks on a Boeing 767-300, air traffic control simulations, and flights on Boeing simulators. Applications doubled from last year, with 20 campers selected. Lauren McCreary received a $1,000 scholarship for her excellence in mechanics and aerospace manufacturing.
Air Transport Services Group (NASDAQ: ATSG) announced that its subsidiary, Airborne Global Leasing, has signed lease agreements for two additional Boeing 767-300 converted freighter aircraft with My Freighter Cargo Airlines of Tashkent, Uzbekistan. This deal expands My Freighter's ATSG-leased fleet to five aircraft. CEO Mike Berger highlighted the strategic expansion into emerging e-commerce markets, emphasizing Tashkent's importance for geographical capacity. The partnership aims to boost economic growth by connecting major trade hubs along the modern Silk Road. My Freighter CEO Abdulaziz Abdurakhmanov noted that this collaboration enhances their service portfolio and customer base. ATSG's Lease+Plus strategy, which includes maintenance and insurance, supports My Freighter's operational focus.
Air Transport Services Group (ATSG) recently announced the recipients of the annual Hete Family Scholarship, established in 2021 by Executive Chairman Joe Hete and his wife Carrie. The scholarship is administered by the Clinton County Foundation and offers $5,000 to ATSG employees and their children pursuing technical or undergraduate degrees in STEM, medical, business, or technical/vocational fields. This year’s recipients include Stephen Connair (The Ohio State University, electrical engineering), Emily Duffy (University of Denver, engineering), Oliver Gao (Duke University, physics), Ade Briana Hines (The Ohio State University, nursing), Timothy Roosa (Southern State Community College, computer science), and Benjamin Smith (University of Cincinnati, mechanical engineering). The application deadline for the scholarship is March 31 each year.
Air Transport Services Group (ATSG), a leader in medium wide-body freighter aircraft leasing and air operations, announced a leadership change effective immediately. Joe Hete, the current Chairman of the Board and CEO, has been appointed Executive Chairman. Mike Berger, previously President, has been named CEO and joins the Board. Jeffrey Dominick, a current Board member, has been appointed President. These changes are aimed at leveraging the extensive experience and strategic insights of the new leadership team to drive the company’s future growth and success. The appointments highlight the company's deep talent pool and commitment to delivering value for shareholders.
Air Transport Services Group (ATSG) held its annual stockholder meeting virtually. Key outcomes included the reelection of nine directors, ratification of Deloitte & Touche LLP as the independent accounting firm for fiscal year 2024, and approval of executive compensation for 2023. Additionally, a proposal related to managing climate risk was rejected. Reelected directors include Phyllis J. Campbell, Jeffrey A. Dominick, Joseph C. Hete, Raymond E. Johns, Jr., Laura J. Peterson, Randy D. Rademacher, J. Christopher Teets, Jeffrey J. Vorholt, and Paul S. Williams. An audio replay of the meeting will be available after May 23 at www.virtualshareholdermeeting.com/ATSG2024. A complete report will be filed in a Form 8-K with the SEC.
Air Transport Services Group, Inc. (ATSG) reported first quarter 2024 financial results with revenues of $486 million, down 3% compared to 2023. GAAP Earnings per Share (diluted) decreased by $0.12 to $0.13. Adjusted EBITDA was $127.3 million, down 8%.
ATSG expanded and extended its flying agreement with Amazon, adding ten Boeing 767 freighters by 2024. The company expects Adjusted EBITDA to reach $516 million in 2024, excluding additional aircraft leases or flying opportunities not yet committed.
Air Transport Services Group, Inc. (ATSG) has expanded its operations in the Amazon Air network by agreeing to operate ten additional Boeing 767 freighters for Amazon.com Services The operating agreement has been extended to May 2029, with the option for a five-year extension. The agreement includes features such as the operation of initial ten freighters by ATSG airlines starting in Summer 2024 and the potential addition of up to ten more aircraft. ATSG has also issued new warrants for shares to Amazon as part of the agreement.
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