Air Transport Services Grp Inc Stock Price, News & Analysis

Air Transport Services Group (ATSG) reported its Q4 and full-year 2024 results, showing stable Q4 revenues of $517 million year-over-year. The company achieved significant improvements in Q4, with GAAP EPS from continuing operations rising to $0.21 from a loss of ($0.24), and Adjusted EBITDA increasing to $162.2 million from $129.9 million.

For full-year 2024, revenues were $2.0 billion compared to $2.1 billion in 2023. Free cash flow improved substantially to $228.1 million from negative ($111.8) million. The company's CAM leasing business placed nine Boeing 767-300 freighters with external customers in 2024, while ACMI Services showed improved Q4 profitability with increased cargo block hours.

Notably, ATSG is in the process of being acquired by Stonepeak, with stockholder approval received on February 10, 2025. The transaction is expected to close in the first half of 2025, pending U.S. Department of Transportation approval.

GA Telesis Engine Services (GATES) SPAH, a joint venture between GA Telesis and Air Transport Services Group (NASDAQ:ATSG), has announced a new agreement with GE Aerospace On-Wing Support (OWS) for maintenance offload services of CF6 and CFM56 engines. The partnership leverages GATES' strategic location in Wilmington, Ohio, just an hour from GE's OWS facility near Cincinnati & Northern Kentucky International Airport.

The collaboration aims to enhance support for open MRO ecosystems for both engine types, promising faster turn times and simplified logistics. The facility's location in southeast Ohio's aerospace corridor, near GE Aerospace's global headquarters, ensures access to a skilled workforce for customer support.

This initiative expands GATES' Engine Services capabilities and strengthens its position in providing local, Americas-based solutions for the aviation industry.

Air Transport Services Group (NASDAQ:ATSG) stockholders have approved the proposed merger with Stonepeak, an alternative investment firm specializing in infrastructure and real assets. Under the merger agreement, ATSG shareholders will receive $22.50 per share in cash upon closing. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.

Upon completion, ATSG, a global leader in medium widebody freighter aircraft leasing and air transport operations, will become a privately held company and will be delisted from NASDAQ. The final voting results will be filed with the SEC on February 10, 2025.

Air Transport Services Group (NASDAQ:ATSG) announced the completion of its 35-day 'go-shop' period related to its previously announced merger agreement with Stonepeak. Under the agreement, Stonepeak will acquire ATSG for $22.50 per share in cash. During the go-shop period, which ended at 11:59 p.m. ET on December 8, 2024, ATSG had the right to solicit alternative takeover proposals but received none.

The transaction is expected to close in the first half of 2025, subject to ATSG shareholder approval and regulatory clearances. Goldman Sachs is serving as ATSG's exclusive financial advisor, while Evercore is advising Stonepeak.

Air Transport Services Group (ATSG) has delivered a Boeing 767-300 converted freighter to Tbilisi-based CAMEX Airlines through its subsidiary Airborne Global Leasing under a long-term lease agreement. A second Boeing 767-300 is expected to be delivered to CAMEX in 2025. CAMEX Airlines, founded in 2022, operates from hubs in Slovenia and Georgia with three Boeing 737-800BCF freighters. This delivery brings ATSG's total externally leased aircraft worldwide to 90, showcasing the success of their Lease+Plus package which offers complementary services alongside aircraft leasing.

Air Transport Services Group (ATSG) reported third quarter 2024 financial results, showing revenues of $471 million, down from $523 million in Q3 2023. The company posted a GAAP loss per share of ($0.05) compared to earnings of $0.24 in the prior year. Free Cash Flow improved significantly to $86.4 million versus negative $51.6 million last year. ATSG announced its acquisition by Stonepeak in an all-cash transaction valued at $3.1 billion, with shareholders receiving $22.50 per share. The company added four Boeing 767-300 freighter leases during Q3, though results were impacted by fewer block hours flown and higher expenses, including start-up costs for Amazon-provided aircraft operations.

Air Transport Services Group (ATSG) has announced its acquisition by Stonepeak in an all-cash transaction valued at approximately $3.1 billion. ATSG shareholders will receive $22.50 per share, representing a 29.3% premium over the closing price on November 1, 2024, and a 45.5% premium over the 90-day VWAP. Upon completion, ATSG will become private and delist from NASDAQ. The transaction, expected to close in H1 2025, includes a 35-day 'go-shop' period through December 8, 2024. The deal requires shareholder and regulatory approvals and features fully committed equity and debt financing.

Air Transport Services Group (ATSG) has partnered with Purdue Global to provide educational benefits for its employees and their immediate family members. The agreement offers a 20% tuition reduction for undergraduate programs and certificates, and 14% reduction for graduate programs, including the EdD in Leadership and Innovation. Aviation mechanics with FAA certifications can receive up to 77 transfer credits toward undergraduate degrees. The initiative aims to enhance workforce readiness and promote lifelong learning in the aviation industry through Purdue Global's online education platform designed for working adults.

Air Transport Services Group (NASDAQ:ATSG) has announced its upcoming third quarter 2024 investor conference call, scheduled for Friday, November 8, 2024, at 10 a.m. Eastern time. The company will release its Q3 2024 earnings report before the financial markets open on the same day. To participate in the Q&A session, investors must register in advance through the Events & Presentations section of ATSG's website. Registrants will receive dial-in numbers and a unique PIN for the live call.

Accompanying slides will be available on the website shortly before the call begins. For those who prefer listen-only access, both live and replay versions of the call, along with the slides, will be accessible via separate links on the ATSG website.