Air Transport Services Group, Inc. - ATSG STOCK NEWS

Air Transport Services Group (Nasdaq: ATSG) reported Q2 2021 consolidated revenues of $409.9 million, up 8% from Q2 2020, driven by a $16.7 million increase in aircraft leasing revenues due to more Boeing 767 leases. GAAP earnings were $79.9 million ($1.17 per share), compared to a loss of $105.2 million last year. Adjusted EBITDA rose to $127.8 million. The company anticipates a minimum of $525 million in Adjusted EBITDA for 2021, bolstered by continued demand for e-commerce cargo operations.

Air Transport Services Group (Nasdaq: ATSG) has appointed Trisha Frank as Vice President of Government Programs, expanding her existing leadership role at Omni Air International. This strategic move aims to enhance ATSG's commitment to U.S. government agencies, a sector that accounted for 31% of its consolidated revenues in 2020. Frank's extensive experience, including her leadership of the Patriot Team, is expected to strengthen government customer relations and support ATSG's growth in this critical business area.

Air Transport Services Group (NASDAQ:ATSG) will host an investor conference call on August 6, 2021, at 10 a.m. ET to discuss its Q2 financial results. The earnings release will be available on August 5, 2021, after market close. Participants can join the call by dialing (800) 708-4540, with international callers using (847) 619-6397, and should enter passcode 50205865. A live webcast will also be accessible via www.atsginc.com. A replay of the webcast will be available starting August 6, 2021, at 2 p.m.

Air Transport Services Group (NASDAQ: ATSG) has appointed Dan Orcutt as president of Omni Air International, effective immediately. Orcutt, who has been COO since 2017 and the FAA Accountable Executive, is replacing Jeff Crippen, who has led the airline since 2008 and will retire at year-end. Under Crippen, Omni became a leader in military and government passenger flights. Orcutt, a retired Brigadier General, brings extensive leadership experience and a robust operational background to the role.

Air Transport Services Group, Inc. (NASDAQ: ATSG) has announced a commitment to purchase two Airbus A321-200 passenger aircraft for conversion to freighters. The first aircraft will be acquired this year, with conversion starting in Q4 2021 and expected delivery to a customer by Q2 2022. The second aircraft will follow in Q2 2022, with delivery projected by Q4 2022. The conversions will take place at ATSG’s PEMCO Conversions facility, leveraging a design approved by the FAA. This initiative is aimed at expanding ATSG's freighter leasing portfolio and meeting demand from express-network customers.

TriFactor Solutions, a subsidiary of Air Transport Services Group (NASDAQ: ATSG), has launched a newly redesigned website aiming to enhance customer engagement. The site showcases improved functionality and tools to address material handling design needs efficiently. Visitors can explore TriFactor's expertise in material handling solutions, system design, and engineering. This launch marks the second of six planned website updates throughout 2021. Clients can access valuable resources, including white papers and case studies, reinforcing TriFactor's commitment to quality service in material handling.

Air Transport Services Group (NASDAQ: ATSG) held a virtual stockholder meeting, re-electing ten directors to the Board for one-year terms. Stockholders ratified Deloitte & Touche LLP as the independent auditor for fiscal 2021 and approved the 2020 executive compensation on an advisory basis. A stockholder proposal regarding the right to act by written consent was rejected. The full results will be submitted in a Form 8-K with the SEC, and an audio replay of the meeting will be available after May 28, 2021.

Air Transport Services Group (ATSG) announced that its subsidiary, Cargo Aircraft Management, will lease four Boeing 767-300 converted freighters to DHL Network Operations. These leases, structured as stand-alone dry agreements for seven years, will expand DHL's capabilities within its global network. Three aircraft are scheduled for delivery in the second half of 2021, with one more in early 2022. This addition will bring the total number of leased Boeing 767 aircraft from ATSG to 17, enhancing support for DHL's growing shipment volume amidst a competitive freighter market.

Air Transport Services Group (Nasdaq: ATSG) reported a first-quarter 2021 revenue of $376.1 million, down $13.2 million from the previous year. ACMI Services revenues fell by $37 million, while aircraft leasing revenues increased by $14.1 million due to new leases. GAAP Earnings from Continuing Operations were $42.3 million, compared to $133.7 million a year prior. Government grants added $21.6 million to net income. ATSG expects a 2021 Adjusted EBITDA of at least $525 million, driven by a strong leasing business and Amazon's support through the exercise of warrants, despite slower recovery in passenger operations.