WILMINGTON, Ohio--(BUSINESS WIRE)--Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced that its Cargo Aircraft Management (CAM) subsidiary has completed a new six-year lease of a Boeing 767-300 freighter to Cargojet of Canada.
This freighter is in addition to four other Boeing 767 freighters that CAM has leased to Cargojet, including two added in 2014. Together with agreements with DHL for the lease of two more 767 freighters starting next month, CAM expects to have 27 of its 45 Boeing 767 freighters under lease to third parties by the end of March 2015. The remaining aircraft are leased to CAM’s airline affiliates to operate on behalf of other customers.
Joe Hete, President and CEO of ATSG, said that he is confident about ATSG’s outlook for 2015, based on recent freighter leases with Cargojet, DHL, and Amerijet, plus the extension of ATSG’s air network services agreement with DHL through March 2019, and improving trends in its ACMI business that included new service between Hawaii and the U.S. mainland in the fourth quarter last year.
“We ended 2014 on a strong positive trend, and we expect to report solid gains for the year in both earnings and cash flow, excluding non-cash charges. We anticipate that our 2014 Adjusted EBITDA from Continuing Operations will be approximately $178 million, and expect to share our outlook for 2015 when we report our fourth-quarter and full-year results for 2014 on Thursday, March 5, 2015.”
Webcast at BB&T Conference
ATSG’s management team will deliver a webcast presentation at the BB&T 30th Annual Transportation Services Conference at the Biltmore Hotel in Coral Gables, Florida, on Wednesday, February 11, 2015, at 3:40 p.m. Eastern time. Joe Hete, President and Chief Executive Officer; Quint Turner, Chief Financial Officer; and Richard Corrado, Chief Commercial Officer, will discuss ATSG’s unique business model as the leading independent provider of converted Boeing 767 freighter aircraft, with a full range of complementary services.
A link to the live audio webcast of the company’s presentation and associated slides will be available at www.atsginc.com or at wsw.com/webcast/bbt27/atsg. An archived replay of the presentation will be available at the same sites for 30 days.
ATSG is a leading provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air-cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the world's largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including two airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services. ATSG's subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Airborne Maintenance and Engineering Services, Inc. For more information, please see www.atsginc.com.
Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. There are a number of important factors that could cause Air Transport Services Group's ("ATSG's") actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, changes in the market demand for our assets and services; the number and timing of deployments of our aircraft; our operating airlines' ability to maintain on-time service and control costs, and other factors that are contained from time to time in ATSG's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this presentation and should not place undue reliance on ATSG's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this presentation. ATSG undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.