ATSG continues revenue, earnings growth

News Journal

WILMINGTON — Air Transport Services Group, Inc. reported this week consolidated financial results for the quarter ended Sept. 30.

The third-quarter 2018 customer revenues were $204.9 million based on revenue recognition standards adopted in 2018. 3Q 2017 revenues were $182.0 million excluding $72.1 million in revenues from reimbursed expenses.

Joe Hete, President and Chief Executive Officer of ATSG, said,“In the third quarter, we continued to grow revenues and deliver increases in Adjusted EBITDA. Our airline businesses performed well and are expecting a good peak season. We intend to add five more 767-300 freighters, including three more external dry leases, to our in-service fleet by the end of the year, or all ten of the 767s we planned to deliver in 2018.

“Additionally, we expect to dry lease two 767-200 freighter aircraft, currently on lease to our airline affiliate, to external customers by year-end. That does not include the thirteen Boeing 767 and 777 passenger aircraft we expect to add in November when we complete our all-cash purchase of Omni Air International.”

News Journal