ATSG

Turkey’s ULS Cargo Airlines to receive 1st A330 freighter in March

Air Transport Services Group, a major lessor and operator of freighter aircraft, expects to deliver its first Airbus A330-300 converted freighter this month to Turkey-based ULS Airlines Cargo and a second one in April, an industry source close to the company said. 

The Airbus A330-300 cargo jets are much larger than the three A310 converted freighters ULS Airlines Cargo currently operates from Istanbul Airport. 

Air Transport Services Group (NASDAQ: ATSG) said in Tuesday’s fourth-quarter earnings...

https://www.freightwaves.com/news/turkeys-uls-cargo-airlines-to-receive-1st-a330-freighter-in-march

Cargo carrier Air Transport Services dinged by fewer jet leases, flights

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...

https://www.freightwaves.com/news/cargo-carrier-air-transport-services-dinged-by-fewer-jet-leases-flights

Stonepeak to buy air cargo company ATSG for $3.1B

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

ATSG takes profit hit as Amazon returns leased freighters

Fewer flight hours by airline units and the scheduled return of Boeing 767-200 freighters from expiring leases pushed down second-quarter revenue by 15.3% at Air Transport Services Group. Those factors caused a 17% drop in adjusted earnings, the company reported after the market’s close on Thursday, but results exceeded analysts expectations.

The diversified lessor and operator of freighter aircraft said adjusted earnings before interest, taxes, depreciation and amortization fell 17% year over...

https://www.freightwaves.com/news/atsg-takes-profit-hit-as-amazon-returns-leased-freighters

Uzbek airline My Freighter adds 2 more Boeing 767s

My Freighter, a startup cargo airline based in Tashkent, Uzbekistan, has signed long-term leases with Air Transport Services Group for two additional Boeing 767-300 converted freighter aircraft, the U.S. leasing and aviation services company announced on Tuesday.

The deal increases the size of My Freighter’s fleet to five aircraft, all of them medium widebody freighters supplied by Air Transport Services Group (NASDAQ: ATSG) via its Irish leasing subsidiary. The airline received its first 767...

https://www.freightwaves.com/news/uzbek-airline-my-freighter-adds-2-more-boeing-767s

Air Transport Services Group promotes Berger to CEO

Air Transport Services Group, the top air cargo partner for Amazon and largest global lessor of freighter aircraft, on Tuesday named Mike Berger, the current president, to replace Joe Hete as CEO seven months after Hete stepped in to stabilize the company’s finances and stock price during a transitional period.

Hete, who also serves as chairman, has been appointed executive chairman, which means he will continue to play a role in running the holding company. Jeffrey Dominick, who has served for...

https://www.freightwaves.com/news/air-transport-services-group-promotes-berger-to-ceo

ABX pilots win back Amazon business with power of positivity

A new transportation services agreement to operate 10 Boeing 767 cargo jets for Amazon paved the way for pilots at cargo airline ABX Air over the weekend to ratify an extension of their labor contract until 2030, company officials said Tuesday.

Amazon’s assignment of planes to ABX Air was also made possible by union leaders’ more collaborative approach to jointly growing business after a history of tensions and a shortage of captains at sister airline Air Transport International, they said.

Parent...

https://www.freightwaves.com/news/abx-pilots-win-back-amazon-business-with-power-of-positivity

Amazon to rent 10 Boeing 767-300 freighters in fleet upgrade

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

ABX Air pilots choose cooperation over confrontation 

LOUISVILLE, Ky. — The exhibit hall at the Omni Hotel here was filled in mid-February with booths representing airlines, logistics providers, airports, truck delivery companies and technology vendors marketing their capabilities to industry peers attending the AirCargo 2024 conference. The stall with a handful of ABX Air pilots from the Teamsters union stood out.

Pilots never attend air logistics conferences, let alone rent space for a display. Why would they? They don’t have anything to sell....

https://www.freightwaves.com/news/abx-air-pilots-choose-cooperation-over-confrontation

Amazon’s return of leased cargo jets hurts ATSG profit

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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