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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 (ATSG) announced the election of Jeffrey A. Dominick to its Board of Directors effective September 26, 2022. Dominick, a former Board member from 2008 to 2012, brings significant expertise in aircraft acquisition and freighter conversions. His return restores the Board's size to ten members following the retirement of Rich Baudouin in April 2022. Dominick is expected to be nominated for a full term at the May 2023 annual meeting. ATSG remains a leading provider in aircraft leasing and air transportation services.
Air Transport Services Group (ATSG) will present a webcast at the Global Transportation & Sustainable Mobility Conference on September 7, 2022, at 3 p.m. ET. Cowen analyst Helane Becker will lead a discussion with ATSG's CEO Rich Corrado, CFO Quint Turner, and VP Matt Fedders, focusing on the company’s business model and growth strategy in converted freighter aircraft and dedicated passenger transport services. The live audio webcast will be available on ATSG's website for 10 days after the event.
Air Transport Services Group (ATSG) reported a 24% increase in revenue for Q2 2022, totaling $510 million. However, GAAP earnings dropped to $54 million from $80 million due to previous pandemic relief grants. Adjusted earnings per share rose to $0.59. ATSG expects a record $640 million in adjusted EBITDA for 2022, driven by leasing growth, despite inflation-related cost increases. The company plans to lease a record 18 freighters in 2023, with strong demand anticipated for its express-package delivery services.
Air Transport Services Group (ATSG) will host an investor conference call on August 5, 2022, at 10 a.m. Eastern time to discuss its financial results for Q2 ending June 30, 2022. The earnings release will be issued on August 4, 2022, after market close. Participants must register here. Webcast access and replays will be available on ATSG’s website.
ABX Air, a subsidiary of Air Transport Services Group, Inc. (ATSG), has appointed Patrick Fluegeman as its new Chief Operating Officer, effective July 1, 2022. Fluegeman has been with ABX Air since 2016 and has held various roles, demonstrating strategic leadership and critical business acumen. His efforts have led to growth opportunities for the company. ABX Air specializes in cargo airline operations, offering flexible solutions to e-commerce and express delivery sectors. This leadership change signifies a continued focus on operational excellence and customer relations.
On a virtual meeting, stockholders of Air Transport Services Group, Inc. (ATSG) re-elected nine directors to the Board. Key outcomes included the ratification of Deloitte & Touche LLP as auditors for fiscal 2022, approval of executive compensation for 2021, and amendments to the 2015 Long-Term Incentive Plan. A stockholder proposal for special meeting rights was rejected. The directors re-elected for one-year terms were Phyllis J. Campbell, Richard F. Corrado, and others. Full results will be reported in a Form 8-K with the SEC.
GA Telesis and Air Transport Services Group (ATSG) announced a partnership to establish a 72,000 sq. ft. Specialized Procedures Aeroengine Hospital (SPAH) at Wilmington Air Park, Ohio. Projected to open in September 2022, the facility aims to service over 200 aircraft engines annually, particularly from General Electric and CFM International. This investment will create 50 jobs and enhance the local economy, supported by a 1.3% seven-year Job Creation Tax Credit from the Ohio Tax Credit Authority.
Air Transport Services Group (Nasdaq: ATSG) reported strong Q1 2022 results with revenues of $486 million, a 29% increase year-over-year. GAAP earnings rose 18% to $50 million, and Adjusted Earnings Per Share reached $0.56, nearly tripling from $0.20. Notable growth in freighter leasing and passenger operations was highlighted, driven by 86 leased 767 freighters and substantial new customer orders for aircraft conversions. ATSG projects $640 million in Adjusted EBITDA for 2022, with a capital investment plan of $590 million.
Air Transport Services Group (NASDAQ:ATSG) will host an investor conference call on May 6, 2022, at 10 a.m. Eastern time, to discuss its financial results for the first quarter ended March 31, 2022. The earnings release will be issued on May 5, 2022, after market close. Participants can join via phone or a live webcast using passcode 96734798. A slide presentation will accompany the discussion, covering quarterly results and 2022 outlook. A replay of the call will be available on the same day at 2 p.m. Eastern.
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