ATSG reports strong year, quarter


News Journal



WILMINGTON — Air Transport Services Group, Inc. reported consolidated financial results for the quarter and year ended Dec.31, 2018.

Customer revenues were $280.8 million in 4Q 2018 vs. same-basis $221.2 million in 4Q 2017.

Fourth-quarter 2017 revenues exclude $101.8 million in revenues from reimbursed expenses.

Capital expenditures in 2018 included $197 million for the acquisition of eight Boeing 767 aircraft and freighter modification costs, versus $209.4 million for eight Boeing 767s and two Boeing 737s plus modification costs in 2017. Other business investments in 2018 included $855.1 million for the acquisition of Omni Air International in November.

Joe Hete, President and Chief Executive Officer of ATSG, said that ATSG delivered on its 2018 commitments to meet demand for its freighter aircraft by deploying ten of them during the year, while securing additional assets and businesses to ensure its growth and diversify its customer base far into the future.

“Our 2018 Adjusted EBITDA increased 16 percent to $312.1 million, our second straight year of double-digit growth in that financial metri,” said Hete. “Our acquisitions of Omni Air and rights to twenty more 767 feedstock aircraft from the fleet of American Airlines, plus the extension and expansion of our agreements with Amazon, have strengthened our platform for sustainable, profitable and diversified growth with some of the world’s largest entities.

“With ninety aircraft in service providing solid incremental returns, we are poised for strong growth in 2019 and superior long-term returns for our shareholders.”

More information is available online at www.atsginc.com .

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News Journal