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.
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.
Airborne Maintenance & Engineering Services, a subsidiary of Air Transport Services Group Inc. (ATSG), has inked a multi-year agreement to provide heavy maintenance for United Airlines. This contract supports the expansion of Airborne's facilities and personnel. The maintenance will focus on United's Boeing 767, 737, 757, and Airbus A320 fleets at Airborne’s locations in Wilmington, Ohio and Tampa, Florida. The agreement transfers part of United's maintenance work from other service providers, enhancing Airborne's service capacity significantly.
Air Transport Services Group's subsidiary, PEMCO Conversions, has delivered a second Passenger-to-FlexCombi™ aircraft to Chisholm Enterprises in Bahrain. This Boeing 737-700FC, operational since August 29, 2021, supports Texel Air, enhancing cargo capabilities. The FlexCombi™ features versatile configurations for up to 40,000 pounds of cargo and provides operational enhancements like head-up displays and medevac capability. PEMCO has a strong track record with over 70 FAA-approved modifications and 350 modified aircraft, solidifying its position as a leader in passenger-to-freighter conversions.
LGSTX Services, a subsidiary of Air Transport Services Group (NASDAQ:ATSG), was awarded 2021 Airport Business of the Year by the Ohio Aviation Association. This accolade recognizes LGSTX's positive contributions to the community and local airport operations. Wilmington Air Park, managed by LGSTX, is Ohio's highest-volume freight airport, covering nearly 2,000 acres. The company also provides extensive aviation services globally across over 400 locations, reinforcing ATSG's commitment to comprehensive aviation support.
Air Transport Services Group held a luncheon to honor six recipients of the inaugural Hete Family Scholarship and 35 interns. The scholarship, worth
FAQ
What is the current stock price of Air Transport Services Group (ATSG)?
What is the market cap of Air Transport Services Group (ATSG)?
What services does Air Transport Services Group, Inc. offer?
Which segments generate the majority of ATSG's revenue?
What recent achievements has ATSG accomplished?
What are the major subsidiaries of ATSG?
What types of aircraft does ATSG's fleet include?
Where can I find more information about ATSG?
What is the Specialized Procedures Aeroengine Hospital (SPAH)?
What is the significance of the EASA certification for ATSG?
What is the primary mission of ATSG?
What are the key business segments of ATSG?
