Air Transport Reports Q2 Increase in Aircraft Leasing Revenues

Air Transport Services Group, a provider of medium wide-body aircraft leasing, air cargo transportation and related services, reported Q2/18 aircraft leasing and related revenues of $58.6 million, up from $52.8 million in Q2/17.

The following highlights were excerpted from the ATSG news release:

  • Cargo Asset Management (CAM) deployed five additional cargo aircraft in the second quarter. Four were 767-300s, including a six-year dry lease with Air Incheon in April, an eight-year dry-lease with Amerijet in May, and a seven-year dry lease with Northern Aviation Services in June. One 767 was leased internally to Air Transport International. One 737-400 was dry-leased to West Atlantic in April for five years. As of June 30, two 767-200s returned from customers were being staged for redeployment.
  • CAM had 73 cargo aircraft in service at June 30 this year, including seven more 767s and two 737s. Fifty-four of those cargo aircraft were under lease to external customers, and 19 were being operated by ATSG airlines on an ACMI basis.
  • Since it completed its 20-aircraft commitment to Amazon in August 2017, CAM has delivered nine more freighters to dry-lease customers through June 2018.
  • CAM acquired one 77 aircraft during the second quarter, and four in total in the first half of 2018, for freighter conversion and redeployment in 2018.

Joe Hete, president and CEO of ATSB, said, “Growth in our aircraft leasing and airline businesses led to another solid quarter for ATSG. We added four more 767 freighters to our dry-lased fleet, and expect to secure additional 767 aircraft for freighter conversion to meet 2019 demand. We are uniquely positons with our assets and complementary services for another great year in 2018 and even better results in 2019.”

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