Less leasing demand for freighter aircraft significantly contributed to a 12% reduction in adjusted core operating profit at Air Transport Services Group during 2023, including a 20% decline in the fourth quarter, and to management’s decision to further slash the budget for investment in new equipment.
Lower revenue and higher costs for ATSG’s transportation segment, especially passenger airline Omni International, also weighed on earnings.
The cargo-oriented aviation company gave a sober...
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