Air Transport Services Group, the largest lessor of freighter aircraft in the world, on Friday said revenue fell 10% in the third quarter because a large number of aircraft with expiring leases were returned, cutting the number of outsourced cargo flights airline subsidiaries fly for large customers.
Financial results were released four days after ATSG (NASDAQ: ATSG) announced plans to go private in a $3.1 billion deal with investment firm Stonepeak. The company said adjusted earnings before...
Private equity firm Stonepeak has agreed to buy Air Transport Services Group, a leading lessor of mid-size cargo jets that also provides flying and other services, for $3.1 billion and take the company private.
The New York-based investment firm will pay $22.50 per share in cash for ATSG and its aviation subsidiaries, which represents a 29% premium above ATSG’s closing price on Friday and 45.5% more than its volume-weighted average price over the prior 90 trading days, ATSG (NASDAQ: ATSG)...
https://www.freightwaves.com/news/stonepeak-to-buy-air-cargo-company-atsg-for-3-1b
Amazon has committed to lease 10 additional freighter aircraft from Air Transport Services Group and pay its partner to operate the aircraft over five years as part of a deal that deepens relations between the companies and underscores how the retailer is gaining in the U.S. parcel market.
ATSG (NASDAQ: ATSG) announced late Monday that it will begin flying the Boeing 767-300 cargo jets for Amazon’s logistics network this summer, with the potential to add another 10 aircraft, under a five-year...
https://www.freightwaves.com/news/amazon-to-rent-10-boeing-767-300-freighters-in-fleet-upgrade
My Freighter, a startup cargo airline based in Tashkent, Uzbekistan, has received its third Boeing 767-300 converted freighter from Air Transport Services Group, the U.S. leasing and aviation services company announced on Monday.
My Freighter took delivery of its first 767-300 in early November. ATSG (NASDAQ: ATSG) sends the former passenger aircraft to airframe repair specialists to tear down and rebuild the interior to handle large containers before leasing them to customers.
The airline...
https://www.freightwaves.com/news/uzbekistan-based-cargo-airline-my-freighter-adds-third-boeing-767
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...
https://www.freightwaves.com/news/amazons-return-of-leased-cargo-jets-hurts-atsg-profit
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Pilots at Air Transport International, a cargo airline owned by Air Transport Services Group that...
https://www.freightwaves.com/news/ati-cargo-pilots-give-union-power-to-call-a-strike
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A number of freighter operators are starting to back out of, or postpone, commitments for upcoming...
https://www.freightwaves.com/news/cargo-airlines-throttle-back-on-aircraft-leases-atsg-says
Bismillah Airlines, a small, all-cargo airline in Bangladesh, has agreed to lease two narrowbody Airbus freighters from Air Transport Services Group, which has made it a strategic priority to diversify business by leasing cargo aircraft to customers outside the United States, FreightWaves has learned.
ATSG (NASDAQ: ATSG) has leased an Airbus A321 converted freighter into Bangladesh, Chief Executive Rich Corrado said early last month during the TD Cowen Global Transportation Conference. Company...
https://www.freightwaves.com/news/air-transport-services-group-to-lease-1st-freighters-in-bangladesh
Air Transport Services Group is not feeling the contraction in air cargo shipping as much as other carriers despite express delivery customers streamlining flight activity in their networks, CEO Rich Corrado told investors this month.
Amazon’s air logistics unit and DHL Express reduced flight schedules for their contracted fleets in early 2023 but the company’s two cargo airline subsidiaries, ABX Air and Air Transport International, are still flying the same number of Boeing 767 aircraft as...
https://www.freightwaves.com/news/in-soft-market-amazon-and-dhl-maintain-cargo-flying-with-atsg
Air Transport Services Group, a diversified lessor and operator of cargo aircraft, has rented out its first Airbus freighters to an airline in Malaysia and is raising debt to help fund more aircraft investment and buy back shares from Amazon even as it slows capital expenditures to please investors.
The Ohio-based company on Monday announced that it delivered a record six converted freighters under lease in one month to customers around the world in July, including its first two Airbus A321...
https://www.freightwaves.com/news/malaysian-cargo-airline-raya-leases-atsgs-1st-airbus-freighters