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Air Transport Services Group, Inc. - ATSG STOCK NEWS

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.

Rhea-AI Summary
Air Transport Services Group, Inc. (NASDAQ: ATSG) intends to offer $350,000,000 aggregate principal amount of convertible senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The notes will be senior, unsecured obligations of ATSG, will accrue interest payable semi-annually in arrears, and will mature on August 15, 2029. ATSG will use a portion of the net proceeds from the offering to repurchase shares of its common stock and to repay a portion of the outstanding borrowings under its revolving credit facility. The rest of the net proceeds will be used for general corporate purposes. The offer and sale of the notes and any shares of common stock issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.
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Air Transport Services Group, Inc. (ATSG) projects record 2023 freighter lease deployments with lower capital expenditure requirements. Increases 2023 adjusted EPS guidance. Q2 2023 revenues of $529 million, up 4%. Adjusted EPS of $0.57. Pretax earnings of $50 million, down from $69 million. 3.9 million shares repurchased since October 2022. CAM segment revenues up 4% driven by higher lease rates. Pre-tax earnings decreased 22% due to return of 767-200s. ACMI Services pre-tax earnings up 10% driven by improved performance. ATSG expects Adjusted EBITDA for 2023 to be $610-620 million and Adjusted EPS of $1.65-1.80. Decreases 2023 capital spending projection by $65 million to $785 million. Midsize freighter leasing driven by e-commerce growth. Capital investments in 2024 expected to be lower than 2023 levels.
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Air Transport Services Group, Inc. appoints David Ray as President of Omni Air International, Inc.
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Air Transport Services Group (ATSG) has scheduled an investor conference call for May 5, 2023, at 10 a.m. Eastern time to discuss its financial results for the first quarter that ended on March 31, 2023. The earnings release will be issued on May 4, 2023, after market close. Interested participants must register via this link, available on ATSG’s website. After registration, participants will receive dial-in numbers and a Personal Identification Number (PIN). A listen-only access to the live and replay versions of the call will also be provided through a webcast on the ATSG website. ATSG is a major provider of aircraft leasing and air transportation services, owning and operating the largest fleet of converted Boeing 767 freighters.

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FAQ

What is the current stock price of Air Transport Services Group (ATSG)?

The current stock price of Air Transport Services Group (ATSG) is $21.87 as of December 20, 2024.

What is the market cap of Air Transport Services Group (ATSG)?

The market cap of Air Transport Services Group (ATSG) is approximately 1.4B.

What services does Air Transport Services Group, Inc. offer?

ATSG offers air cargo transportation, aircraft leasing, maintenance services, airport ground support, fuel management, and air charter brokerage.

Which segments generate the majority of ATSG's revenue?

The ACMI Services (Aircraft, Crew, Maintenance, and Insurance) segment generates the majority of ATSG's revenue.

What recent achievements has ATSG accomplished?

ATSG recently obtained an Air Agency Certificate from EASA for its joint venture, the Specialized Procedures Aeroengine Hospital (SPAH), enhancing jet engine maintenance capabilities.

What are the major subsidiaries of ATSG?

Major subsidiaries include ABX Air, Inc., Air Transport International LLC, Capital Cargo International Airlines, Inc., Airborne Maintenance & Engineering Services, Inc., and Airborne Global Services, Inc.

What types of aircraft does ATSG's fleet include?

ATSG's fleet includes Boeing 767, Airbus A321, and Airbus A330 converted freighters.

Where can I find more information about ATSG?

For more details, visit the official website at www.atsginc.com.

What is the Specialized Procedures Aeroengine Hospital (SPAH)?

SPAH is a joint venture between ATSG and GA Telesis offering rapid jet engine maintenance services, certified by EASA to enhance performance reliability.

What is the significance of the EASA certification for ATSG?

EASA certification allows ATSG to offer dual-release return to service documentation, extending the global reach of its maintenance services.

What is the primary mission of ATSG?

ATSG's mission is to provide innovative solutions ensuring customer success through high-quality services and strategic partnerships.

What are the key business segments of ATSG?

The key business segments are Cargo Aircraft Management and ACMI Services (Aircraft, Crew, Maintenance, and Insurance).

Air Transport Services Group, Inc.

Nasdaq:ATSG

ATSG Rankings

ATSG Stock Data

1.44B
50.82M
22.23%
81.39%
3.98%
Airlines
Air Courier Services
Link
United States of America
WILMINGTON