Welcome to our dedicated page for Air Transport Services Grp news (Ticker: ATSG), a resource for investors and traders seeking the latest updates and insights on Air Transport Services Grp stock.
Air Transport Services Group, Inc. (NASDAQ: ATSG) features prominently in news coverage as a global leader in medium widebody freighter aircraft leasing, air transport operations, and related aviation support services. Company news frequently highlights its role in aircraft leasing, contracted cargo and passenger transportation, and the broader air logistics ecosystem.
Recent releases describe ATSG’s consolidated financial results, including quarterly and full-year performance for its Cargo Aircraft Management (CAM) and ACMI Services segments. These updates discuss trends in revenues, pretax earnings, adjusted non-GAAP metrics, free cash flow, and operating statistics such as cargo and passenger block hours. Investors following ATSG news can see how the company’s leasing activity, aircraft conversions, and flight operations contribute to its reported results.
Another major theme in ATSG news is corporate transactions. The company has announced a definitive agreement to be acquired by Stonepeak in an all-cash transaction and later reported that its stockholders approved the proposed merger, with closing subject to customary conditions and regulatory approvals. Additional releases cover related milestones such as the expiration of a “go-shop” period and the impact of the acquisition on holders of ATSG’s convertible senior notes, including the occurrence of a “Fundamental Change” and “Make-Whole Fundamental Change” under the applicable indenture.
Operational news items describe aircraft deliveries and leasing activity, such as the delivery of a Boeing 767-300 converted freighter under a long-term lease to CAMEX Airlines, and the leasing of additional freighters to external customers. Other stories cover partnerships and initiatives, including a joint venture engine services facility with GA Telesis and an educational alliance with Purdue Global to support employee learning. Readers who follow ATSG news can track developments in its fleet, customer relationships, financial performance, and the progress of its planned acquisition by Stonepeak.
Air Transport Services Group (ATSG) held its annual stockholder meeting virtually. Key outcomes included the reelection of nine directors, ratification of Deloitte & Touche LLP as the independent accounting firm for fiscal year 2024, and approval of executive compensation for 2023. Additionally, a proposal related to managing climate risk was rejected. Reelected directors include Phyllis J. Campbell, Jeffrey A. Dominick, Joseph C. Hete, Raymond E. Johns, Jr., Laura J. Peterson, Randy D. Rademacher, J. Christopher Teets, Jeffrey J. Vorholt, and Paul S. Williams. An audio replay of the meeting will be available after May 23 at www.virtualshareholdermeeting.com/ATSG2024. A complete report will be filed in a Form 8-K with the SEC.
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.
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