Air Transport Services Grp Inc Stock Price, News & Analysis

Air Transport Services Group, Inc. (NASDAQ: ATSG) has announced a commitment to purchase two Airbus A321-200 passenger aircraft for conversion to freighters. The first aircraft will be acquired this year, with conversion starting in Q4 2021 and expected delivery to a customer by Q2 2022. The second aircraft will follow in Q2 2022, with delivery projected by Q4 2022. The conversions will take place at ATSG’s PEMCO Conversions facility, leveraging a design approved by the FAA. This initiative is aimed at expanding ATSG's freighter leasing portfolio and meeting demand from express-network customers.

TriFactor Solutions, a subsidiary of Air Transport Services Group (NASDAQ: ATSG), has launched a newly redesigned website aiming to enhance customer engagement. The site showcases improved functionality and tools to address material handling design needs efficiently. Visitors can explore TriFactor's expertise in material handling solutions, system design, and engineering. This launch marks the second of six planned website updates throughout 2021. Clients can access valuable resources, including white papers and case studies, reinforcing TriFactor's commitment to quality service in material handling.

Air Transport Services Group (NASDAQ: ATSG) held a virtual stockholder meeting, re-electing ten directors to the Board for one-year terms. Stockholders ratified Deloitte & Touche LLP as the independent auditor for fiscal 2021 and approved the 2020 executive compensation on an advisory basis. A stockholder proposal regarding the right to act by written consent was rejected. The full results will be submitted in a Form 8-K with the SEC, and an audio replay of the meeting will be available after May 28, 2021.

Air Transport Services Group (ATSG) announced that its subsidiary, Cargo Aircraft Management, will lease four Boeing 767-300 converted freighters to DHL Network Operations. These leases, structured as stand-alone dry agreements for seven years, will expand DHL's capabilities within its global network. Three aircraft are scheduled for delivery in the second half of 2021, with one more in early 2022. This addition will bring the total number of leased Boeing 767 aircraft from ATSG to 17, enhancing support for DHL's growing shipment volume amidst a competitive freighter market.

Air Transport Services Group (Nasdaq: ATSG) reported a first-quarter 2021 revenue of $376.1 million, down $13.2 million from the previous year. ACMI Services revenues fell by $37 million, while aircraft leasing revenues increased by $14.1 million due to new leases. GAAP Earnings from Continuing Operations were $42.3 million, compared to $133.7 million a year prior. Government grants added $21.6 million to net income. ATSG expects a 2021 Adjusted EBITDA of at least $525 million, driven by a strong leasing business and Amazon's support through the exercise of warrants, despite slower recovery in passenger operations.

Air Transport Services Group (NASDAQ: ATSG) will host an investor conference call on May 6, 2021, at 10 a.m. ET to discuss its Q1 financial results ending March 31, 2021. The earnings release will be issued on May 5, 2021, after market close. Participants can join by calling (800) 708-4540 with passcode 50155298 or via live webcast on ATSG's website. A replay will be available starting May 6, 2021, at 2 p.m. ET. Additionally, ATSG's annual stockholders meeting is scheduled for May 26, 2021, at 11 a.m. ET, open to shareholders of record as of March 29, 2021.

Airborne Maintenance & Engineering Services, Inc., a subsidiary of Air Transport Services Group (NASDAQ: ATSG), has completed a 17-week renovation and expansion of its Component Repair/Overhaul and Manufacturing facility. This investment aims to enhance repair services and align with customer service commitments. The project, in collaboration with the University of Akron, advances research in Supersonic Particle Deposition (SPD) technology. The renovation includes new machinery and increases the manufacturing footprint, which allows for additional repair opportunities for aircraft components.

Air Transport Services Group (NASDAQ: ATSG) announced the delivery of a Boeing 767-200 converted freighter to Raya Airways, a Malaysian cargo airline, under a five-year lease. This marks the third freighter leased to Raya by ATSG, reinforcing its position as a leader in 767 freighter leasing. Raya Airways, which operates a network across Southeast Asia and North Asia, expressed satisfaction with the Boeing 767's performance, noting its pivotal role in the airline's growth. ATSG plans to further develop its relationship with Raya to support the airline's expansion in the Asia-Pacific market.

Air Transport Services Group (NASDAQ: ATSG) has announced the upsize of its previously planned private offering of senior notes by its subsidiary, Cargo Aircraft Management (CAM), from $150 million to $200 million. The new 4.750% senior notes due 2028 will be priced at 102.750% of their face amount, yielding 3.96%. Proceeds will be used to reduce revolving credit commitments under ATSG’s credit agreement. The offering, which complies with Rule 144A and Regulation S, is expected to close on April 13, 2021.