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.
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.
Air Transport Services Group (ATSG) has announced a second order with Boeing (BA) for the conversion of four 767-300 aircraft into Boeing Converted Freighters (BCF), with an option for four more. The conversions are set to begin in late 2023, building on ATSG's prior order in November 2021. With this latest commitment, ATSG has secured over 80 conversion slots over the next five years, reflecting ongoing strong demand for the 767-300 platform among e-commerce and express providers.
Air Transport Services Group, Inc. (ATSG) announced its leasing subsidiary, Cargo Aircraft Management, has begun the first Airbus A321 aircraft for passenger-to-freighter conversion at its Tampa, Fla. facility. The aircraft will undergo the A321-200PCF freighter conversion, developed in partnership with Precision Aircraft Solutions. This move allows ATSG to provide a comprehensive service for leased aircraft, enhancing efficiency and capability for e-commerce logistics. The A321-200PCF is noted for its superior payload and fuel efficiency, presenting significant upgrades over existing models.
Air Transport Services Group (Nasdaq: ATSG) reported strong financial results for Q4 and full-year 2021, with revenues of $482.4 million in Q4, up 21%, and $1.73 billion for the year, up 10%. GAAP EPS for Q4 reached $0.60, up from $0.04, while Adjusted EPS for the year was $1.66, up 4%. Operating cash flows increased 14% to $584 million. ATSG forecasts Adjusted EBITDA of $640 million for 2022, nearly $100 million higher than 2021. The company secured 15 new customer leases, enhancing its freighter fleet and expanding operations, including planned conversions of Airbus A330s.
Air Transport Services Group (ATSG) will host an investor conference call on February 25, 2022, at 10 a.m. Eastern time to discuss its financial results for the fourth quarter and year ended December 31, 2021. The earnings release will be made available on February 24, 2022, after market close. Participants can join the call by dialing 800-708-4540 (international: 847-619-6397) and using passcode 50283284. A live webcast will also be available on ATSG’s website, including a slide presentation accompanying the discussion.
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