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Air Transport Services Group, Inc. (ATSG) reported first quarter 2024 financial results with revenues of $486 million, down 3% compared to 2023. GAAP Earnings per Share (diluted) decreased by $0.12 to $0.13. Adjusted EBITDA was $127.3 million, down 8%.
ATSG expanded and extended its flying agreement with Amazon, adding ten Boeing 767 freighters by 2024. The company expects Adjusted EBITDA to reach $516 million in 2024, excluding additional aircraft leases or flying opportunities not yet committed.
Air Transport Services Group, Inc. (ATSG) has expanded its operations in the Amazon Air network by agreeing to operate ten additional Boeing 767 freighters for Amazon.com Services The operating agreement has been extended to May 2029, with the option for a five-year extension. The agreement includes features such as the operation of initial ten freighters by ATSG airlines starting in Summer 2024 and the potential addition of up to ten more aircraft. ATSG has also issued new warrants for shares to Amazon as part of the agreement.
