Welcome to our dedicated page for Air Transport Services Grp news (Ticker: ATSG), a resource for investors and traders seeking the latest updates and insights on Air Transport Services Grp 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 (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.
Air Transport Services Group (ATSG) has secured six-year lease extensions with DHL Network Operations for five Boeing 767 freighters, extending agreements to April 2028. The arrangement includes an expansion of the Crew, Maintenance, and Insurance agreement, adding two more freighters to a total of twelve operated by ABX Air for DHL. Following the 2021 announcement of leasing four additional freighters, the total leased fleet at DHL will rise to fifteen by 2022. This deal solidifies ATSG's support of DHL's global logistics network.
Air Transport Services Group (NASDAQ: ATSG) announced the successful raising of over
Air Transport Services Group, Inc. (NASDAQ: ATSG) announced new leadership appointments within its subsidiaries. Todd France, currently president of Airborne Maintenance & Engineering Services, will take over as president of Cargo Aircraft Management in April 2022, succeeding Brady Templeton, who is retiring. Mark Snook will become the new president of Airborne. France has a strong background in management and leadership roles within ATSG, while Snook brings 37 years of aviation experience. These changes signal a strategic move in leadership to enhance operational success.
Air Transport Services Group (NASDAQ: ATSG) will present at the Stephens Annual Investment Conference in Nashville, Tennessee, on Thursday, December 2, 2021, at 10 a.m. Central time. CEO Rich Corrado, CFO Quint Turner, and VP Matt Fedders will discuss ATSG's business model and strategy in leased freighter aircraft, including partnerships with Amazon and DHL. The presentation will be available as a live audio webcast on ATSG's website, with a replay option for 30 days. ATSG is a leading aircraft leasing and transport provider, known for its large fleet of Boeing 767 freighters.
Air Transport Services Group (ATSG) reported third quarter 2021 results showing record customer revenues of $466 million, a 15% increase year-over-year. GAAP EPS reached $0.85, a significant recovery from a loss of $0.10 last year. Adjusted EBITDA rose to $153 million, up 22%. The company increased its 2021 Adjusted EBITDA guidance to at least $535 million. Demand for midsize freighters remains high, evidenced by ATSG’s expansion of its fleet with thirteen additional Boeing 767 leases. Despite pandemic impacts, strong cash flows and strategic investments are driving growth.
Air Transport Services Group (NASDAQ: ATSG) announced an investor conference call to discuss its third quarter 2021 financial results on November 5, 2021, at 10 a.m. Eastern time. The earnings release will be available on November 4, 2021, after market close. Participants can join the call by dialing (800) 708-4540, using passcode 50246249, or via a live webcast on www.atsginc.com. A replay will be accessible after the call on the same website.
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