Air Transport Services Grp Inc Stock Price, News & Analysis

Air Transport Services Group (ATSG) reported its Q2 2024 results, showing a decline in revenues and earnings compared to Q2 2023. Key highlights include:

• Revenues of $488 million, down from $529 million
• GAAP EPS from Continuing Operations of $0.11, versus $0.49
• Adjusted EBITDA of $130.4 million, compared to $157.1 million
• Free Cash Flow of $91.8 million, up from negative $1.3 million

Despite the decline, ATSG raised its 2024 Adjusted EBITDA outlook to approximately $526 million. The company leased four Boeing 767 Freighters to customers since June 30 and expects improved performance in the second half of 2024, particularly in Q4.

Air Transport Services Group (NASDAQ: ATSG) has announced that its subsidiary, Cargo Aircraft Management (CAM), has leased a Boeing 767-300 converted freighter to SLG Worldwide. The aircraft will be subleased to Euroavia Airlines, a cargo airline based in Larnaca, Cyprus. This lease arrangement demonstrates the appeal of ATSG's Lease+Plus package, which offers multiple services including maintenance support.

Mike Berger, CEO of ATSG, emphasized the company's focus on developing freighter capacity in growth markets where economic data supports investment. Martin Zhu, chairman of Euroavia Airlines, expressed enthusiasm about the partnership, stating that the addition will significantly enhance their ability to serve the growing demand in the Eurasia & Middle East region.

Air Transport Services Group (NASDAQ:ATSG) has promoted Todd France to Chief Commercial Officer. In this new role, France will oversee commercial activities for all ATSG companies, reporting to ATSG President Jeff Dominick. France has been with ATSG in various leadership roles, most recently serving as president of the company's aircraft leasing subsidiary, Cargo Aircraft Management. His experience includes key positions in business development and operational management across ATSG's subsidiaries.

Jeff Dominick praised France's exceptional leadership and success in developing customer relationships while managing ATSG's fleet and maintenance operations. France expressed enthusiasm for leveraging ATSG's comprehensive aviation assets and services to maximize customer value and drive sustained growth for the company.

Air Transport Services Group (NASDAQ: ATSG) has announced that its leasing subsidiary, Cargo Aircraft Management (CAM), has delivered two Boeing 767-300 aircraft to Georgian Airways under multi-year leases. One is a passenger aircraft delivered in June, while the other is a newly converted freighter delivered in July. This move aligns with ATSG's Lease+Plus strategy, providing comprehensive leasing solutions for global customers.

David Gaiashvili, general director of Georgian Airways, expressed satisfaction with the partnership, highlighting the airline's three-decade history and commitment to safety. Mike Berger, CEO of ATSG, noted that these leases reflect the growing demand for global air capacity and emphasized the suitability of medium widebody freighters like the Boeing 767 and Airbus A330 for cargo airlines in Eastern Europe and Western Asia.

Air Transport Services Group (NASDAQ:ATSG) has announced its upcoming second quarter 2024 investor conference call, scheduled for Friday, August 9, 2024, at 10 a.m. Eastern time. The company will release its Q2 2024 earnings report on Thursday, August 8, 2024, after market close. Investors wishing to participate in the Q&A session must pre-register through the Events & Presentations section of ATSG's website. Registrants will receive dial-in information and a unique PIN for call access. Presentation slides will be available on the website shortly before the call begins. A listen-only option and replay of the call, along with the slides, will also be accessible via separate links on ATSG's website.

Air Transport Services Group (Nasdaq: ATSG) announced the success of its 2024 Aviation Camp, held in June at Wilmington Air Park. The camp aimed to inspire students in grades six through twelve to pursue aviation careers via interactive activities in aircraft maintenance, flight operations, logistics, and aviation safety. Highlights included maintenance checks on a Boeing 767-300, air traffic control simulations, and flights on Boeing simulators. Applications doubled from last year, with 20 campers selected. Lauren McCreary received a $1,000 scholarship for her excellence in mechanics and aerospace manufacturing.

Air Transport Services Group (NASDAQ: ATSG) announced that its subsidiary, Airborne Global Leasing, has signed lease agreements for two additional Boeing 767-300 converted freighter aircraft with My Freighter Cargo Airlines of Tashkent, Uzbekistan. This deal expands My Freighter's ATSG-leased fleet to five aircraft. CEO Mike Berger highlighted the strategic expansion into emerging e-commerce markets, emphasizing Tashkent's importance for geographical capacity. The partnership aims to boost economic growth by connecting major trade hubs along the modern Silk Road. My Freighter CEO Abdulaziz Abdurakhmanov noted that this collaboration enhances their service portfolio and customer base. ATSG's Lease+Plus strategy, which includes maintenance and insurance, supports My Freighter's operational focus.

Air Transport Services Group (ATSG) recently announced the recipients of the annual Hete Family Scholarship, established in 2021 by Executive Chairman Joe Hete and his wife Carrie. The scholarship is administered by the Clinton County Foundation and offers $5,000 to ATSG employees and their children pursuing technical or undergraduate degrees in STEM, medical, business, or technical/vocational fields. This year’s recipients include Stephen Connair (The Ohio State University, electrical engineering), Emily Duffy (University of Denver, engineering), Oliver Gao (Duke University, physics), Ade Briana Hines (The Ohio State University, nursing), Timothy Roosa (Southern State Community College, computer science), and Benjamin Smith (University of Cincinnati, mechanical engineering). The application deadline for the scholarship is March 31 each year.

Air Transport Services Group (ATSG), a leader in medium wide-body freighter aircraft leasing and air operations, announced a leadership change effective immediately. Joe Hete, the current Chairman of the Board and CEO, has been appointed Executive Chairman. Mike Berger, previously President, has been named CEO and joins the Board. Jeffrey Dominick, a current Board member, has been appointed President. These changes are aimed at leveraging the extensive experience and strategic insights of the new leadership team to drive the company’s future growth and success. The appointments highlight the company's deep talent pool and commitment to delivering value for shareholders.