Air Transport Services Group subsidiary, Airborne Global Leasing has delivered a newly converted Boeing 767-300 freighter to new customer My Freighter Cargo Airlines of Tashkent, Uzbekistan under the terms of a multi-year lease.
Thursday 16 November 2023
ATSG Delivers Boeing 767-300BCF to My Freighter
Air Transport Services Group subsidiary, Airborne Global Leasing has delivered a newly converted Boeing 767-300 freighter to new customer My Freighter Cargo Airlines of Tashkent, Uzbekistan under the terms of a multi-year lease.
Tuesday 3 October 2023
ATSG Names Mike Berger as President
Monday 14 August 2023
ATSG completes record month of freighter deployments
Two Airbus A321-200 delivered to Raya Airways of Malaysia, which also currently operates three Boeing 767-200 aircraft leased from CAM.A Boeing 767-300 leased to Cargojet Airways of Mississauga, Canada, bringing the total number of their CAM-leased Boeing 767 freighters to four.A Boeing 767-300 leased to new customer Georgian Airlines LLC of Tbilisi, Georgia.A Boeing 767-300 leased to Amerijet International Airlines of Miami, Florida. CAM now leases a total of ten Boeing 767-300 freighters to Amerijet.A Boeing 767-300 leased to SkyTaxi of Wroclaw, Poland. SkyTaxi also leases two Boeing 767-200 freighters from CAM.
Friday 4 August 2023
ATSG Reports Second Quarter 2023 Results
Air Transport Services Group, one of the leading providers of medium wide-body aircraft leasing, contracted air transportation, and related services, today reported consolidated financial results for the second quarter ended June 30, 2023. Those results, as compared with the same quarter in 2022 were as follows:
Revenues of $529 million, up 4%GAAP EPS (basic) from Continuing Operations of $0.54, down $0.19Adjusted EPS* from Continuing Operations of $0.57, versus $0.59 dilutedPretax Earnings of $50 million, down from $69 million.Adjusted Pretax* Earnings of $58 million, down from $67 millionAdjusted EBITDA* of $157 million, comparable to prior year3.9 million shares repurchased since October 2022, including 950,000 shares in the second quarter
Aircraft leasing and related revenues from external customers in the second quarter were up 4% compared with the prior year quarter, driven by higher average lease rates as more 767-300s have been deployed, offset in part by fewer leased 767-200 aircraft.Pre-tax earnings decreased 22% to $31 million versus the prior year quarter. Earnings were impacted by the scheduled return of ten 767-200s since June 2022, including seven in the second quarter this year. Interest expense versus the prior year period increased $5 million, and depreciation was up $2 million, also impacting pre-tax earnings.CAM deployed one 767-300 leased freighter to an external customer during the quarter. Six more leased freighters have been deployed since June 30, 2023, including four more 767-300s, and two A321-200s.Twenty-three aircraft are currently in or awaiting conversion to freighters. That total includes seven A321 aircraft and sixteen 767-300s.
ACMI Services
Pre-tax earnings were $24 million in the second quarter, up 10% versus the prior year quarter, driven by improved performance of passenger operations, including both military and commercial flying, and greater operating efficiencies.Revenue block hours for ATSG's cargo airlines were up 1% for the second quarter while operating a net three more 767 freighters compared with the prior-year period. Cargo block hours were affected by the loss of certain long-haul ACMI flying between the U.S. and Europe versus 2022.Hours flown by the four Boeing 757 combination freighter-passenger aircraft were up significantly due to the resumption of a Pacific route in late 2022.Passenger block hours, including combi flying, decreased 2%. The prior-year quarter included passenger hours flown for additional routes to Europe.
Thursday 20 July 2023
ATSG names new president of Omni Air International
Friday 5 May 2023
ATSG saw revenues of $501 million in the first quarter of 2023.
Segment Results
Aircraft leasing and related revenues from external customers in the first quarter were up 8% compared to the first quarter of 2022, primarily reflecting the benefit of eight newly converted Boeing 767-300 freighters leased since the beginning of the first quarter of 2022, offset by lower revenues from engine pooling arrangements for customers leasing 767-200 freighters.CAM’s first-quarter pretax earnings decreased 2% to $34 million versus the prior-year quarter. Those earnings were impacted by $2.3 million more interest expense allocated to CAM, driven by more aircraft assets, including feedstock in or awaiting freighter modification.CAM deployed two 767-300 freighters to an external customer during the quarter. One 767-200 freighter was returned upon lease expiration. Ninety-two CAM-owned 767 freighter aircraft were leased to external customers at the end of the quarter, six more than a year ago.CAM intends to deploy eighteen more freighters in 2023, including twelve 767s and six A321s. Twenty-seven CAM-owned aircraft were in or awaiting conversion to freighters, twelve more than a year ago. That quarter-end total includes nine A321 aircraft and eighteen 767s.
ACMI Services

Wednesday 26 April 2023
ATSG delivers its first Boeing Converted Freighter to Amerijet
Air Transport Services Group, the world's largest lessor of freighter aircraft, recently announced the addition of two newly converted Boeing 767-300 freighters to their leasing fleet, one of which is the company's first Boeing Converted Freighter (BCF). The second aircraft was converted by Tel Aviv-based Israel Aerospace Industries.
Friday 17 March 2023
ATSG ends 2022 with over $850,000 raised for charity
Friday 24 February 2023
ATSG Reports Record 2022 Revenues
Air Transport Services Group, Inc. the leading provider of medium wide-body aircraft leasing, contracted air transportation, and related services, today reported consolidated financial results for the quarter and year ended December 31, 2022.
Fourth Quarter Results
- Revenues $533 million, up 11%
- GAAP EPS (basic) from Continuing Operations $0.58, down $0.02 on GAAP Pretax Earnings from Continuing Operations $61.2 million, up 1%
- Adjusted Pretax* Earnings $65 million, up 16%
- Adjusted EPS* $0.53, up $0.03
- Adjusted EBITDA* $163 million, up 5%
Full Year 2022 Results
- Revenues $2.0 billion, up 18%
- GAAP EPS (basic) from Continuing Operations $2.67, down $0.66 on GAAP Pretax Earnings from Continuing Operations $260 million, down 14%
- Adjusted Pretax Earnings* $263 million, up 51%
- Adjusted EPS* $2.28, up $0.67 or 42%
- Adjusted EBITDA* $641 million, up $100 million or 18%
- Operating Cash Flows $472 million and Adjusted Free Cash Flow* $285 million
Rich Corrado, president and chief executive officer of ATSG, said, "In 2022, our revenues and Adjusted EBITDA each grew 18%, with revenues reaching a record $2 billion, and Adjusted EBITDA increasing $100 million to $641 million. Our Adjusted Pretax Earnings also grew sharply, excluding 2021 benefits from pandemic related government grants for our passenger airline. At the same time, we invested nearly $600 million in our businesses which will allow us to take advantage of the continued attractive leasing market for midsize freighter aircraft. I expect those investments and the outstanding performance of our employees to drive even more robust growth and earnings in the years to come."
2022 Operating Highlights
- Six more dry leases of Boeing 767-300 freighters, plus one re-lease and four lease extensions of Boeing 767-200s. Two of the six newly converted 767-300 freighters leased last year are also being operated by ATSG’s airlines under Crew, Maintenance and Insurance (CMI) agreements.
- Seven more customer-provided 767 freighters were subleased to and operated by ATSG’s cargo airlines during 2022, totaling thirteen such aircraft in the fleet at the end of the year.
- Feedstock aircraft secured for the twenty freighters ATSG expects to lease in 2023.
- Completed a strong schedule of passenger airline missions for government customers, including the resumption of a full schedule of combi service worldwide for the Department of Defense.
- Executed a six-year extension and expansion of ATSG’s longstanding commercial relationship with DHL. The number of 767s our airline operates for DHL has more than doubled since the beginning of 2021.
Monday 6 February 2023
ATSG offers an outlook for fleet transitions in 2023 and beyond
Complete the passenger-to-freighter conversion and deliver at least six Airbus A321-200 cargo aircraft to fulfill lease orders from customers based in Europe and Asia. A similar number of Airbus A321-200 cargo conversions and deliveries are anticipated in 2024. Deliveries and dry leases, however, are pending regulatory review by the European Union Aviation Safety Agency (EASA). ATSG anticipates EASA approvals for the A321-200 design it developed via a joint venture before mid-year 2023.Begin the passenger-to-freighter conversion of what it expects to become a leased fleet of thirty Airbus A330-300s, equal to the number for conversion slots it holds. CAM expects to begin leasing A330 freighters in 2024 and continuing into 2028. It has already received customer commitments to lease more than two thirds of those A330 freighters, which are medium widebody aircraft that perform regional missions, but with greater payload and range than Boeing 767-300 freighters.
Continue to lease into 2024 four of twelve Boeing 767-200 freighters currently leased to Amazon and operated by ATSG’s cargo airlines. Leases for the other eight are due to expire between May and September 2023. CAM expects to retire at least three of the eight due to airframe cycle limitations and utilize the engines removed to support other 767-200 lease customers. CAM expects to re-lease and/or sell the remaining five 767-200 freighters which Amazon may not extend.Operate 767 freighters dedicated to principal customers DHL and Amazon for reduced schedules and fewer block hours per aircraft across the United States in the first half of 2023 versus 2022. Both companies are adjusting their ground and air distribution and fulfillment networks in the United States to conform to reduced U.S. economic growth and consumer spending levels in the first half of 2023. ATSG’s passenger aircraft operations are likely to face similar effects.
Tuesday 22 November 2022
TSG Selects Paul Chase as New Chief Commercial Officer
Wednesday 28 September 2022
ATSG Elects Jeffrey Dominick to Board of Directors
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Photo ATSG |
Saturday 6 August 2022
ATSG Reports Strong Second Quarter 2022 Results
ATSG's second quarter 2022 results, as compared with the second quarter 2021, include:
Second Quarter 2022 Results
- Revenues of $510 million, up 24%
- GAAP Earnings of $54 million, or $0.73 per share basic, down from $80 million, or $1.17. Second quarter 2021 results included $38 million pretax in government grants representing pandemic relief for ATSG’s passenger airline, $30 million in incremental pretax gains primarily related to warrant revaluations.
- Adjusted Earnings Per Share* of $0.59, versus $0.35 a year ago. Amounts exclude, among other items, government grant and warrant revaluation gains. Results for each year reflect additional shares for a change in GAAP presentation related to convertible notes
- Adjusted Pretax Earnings* of $67 million, up 80%
- Adjusted EBITDA* of $158 million, up 23%
- Operating Cash Flow of $125 million, versus $183 million for the year ago quarter ended June 30. Also, Adjusted Free Cash Flow* of $72 million, versus $123 million for the year ago quarter, reflecting higher customer receivables.
Rich Corrado, president and chief executive officer of ATSG, said, "Leasing converted midsize freighter aircraft and flying them in express-package networks remained a powerful and resilient driver of our strong cash flow in the second quarter. CAM, our aircraft lessor, again fueled our adjusted earnings momentum, with nine more Boeing 767 freighters leased to third-party customers than a year ago. Our cargo airlines continue to fly more hours, using both freighters that CAM owns plus others that customers have assigned to them. Inflation-driven increases in employee costs, contracted labor, crew travel and other costs are affecting our ACMI Services results and we are taking steps to mitigate the impact where we can."
* Adjusted Earnings Per Share, Adjusted Pretax Earnings, Adjusted EBITDA and Adjusted Free Cash Flow are non-GAAP financial measures and are defined and reconciled to GAAP measures at the end of this release.
Segment Results
CAM
- External leases of nine more Boeing 767s since June 2021 contributed to CAM’s 24 percent second-quarter revenue gain. CAM also realized more 2022 revenues from new pay-by-cycle engine support services with several lessees of its 767-200 freighters. Aircraft leasing and related revenues from external customers were up 21 percent.
- CAM’s second-quarter pretax earnings increased 76 percent to $39.6 million versus the prior-year quarter. Allocated interest decreased $3 million and depreciation increased $6 million.
- Eighty-nine CAM-owned 767 freighter aircraft were leased to external customers as of June 30, 2022. CAM expects to lease six more freighters in the second half, including four 767s and two Airbus A321-200s.
- CAM purchased five 767-300 and four A321-200 passenger aircraft during the first half for conversion to freighters. One CAM-owned 767-300 passenger aircraft was removed from service with Omni Air and scheduled for freighter conversion. Nineteen CAM-owned aircraft were in or awaiting conversion to freighters as of June 30, 2022, consisting of fourteen 767-300s and five A321s.
ACMI Services
- Second-quarter revenues increased 27 percent to $347 million. Block hours for ATSG's airlines reflected sharply higher passenger flying and the benefit of four more CAM-leased freighters in CMI service than a year ago, plus four more 767 freighters provided by customers for our airlines to operate.
- Second-quarter flight schedules were up from a year ago, particularly for passenger charter operations. Revenue block hours increased nine percent overall, including a 13 percent increase for passenger and combi flying and a 7 percent increase for cargo aircraft.
- Pretax segment earnings decreased $23 million to $22 million for the quarter. Prior-year results included $38 million from government grants awarded to offset pandemic effects on Omni Air’s passenger operations.
- Excluding the government grants, segment earnings more than tripled from a year ago.
- Second-quarter results were affected by additional costs for crew coverage and inflation-driven increases in operating costs, including crew travel, fuel costs for positioning aircraft, and labor costs, including contracted worker costs.

Friday 1 July 2022
Air Transport Services Group's ABX Air names new Chief Operating Officer
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Wednesday 25 May 2022
Air Transport Services Group and GA Telesis to open engine maintenance facility at Wilmington Air Park

Friday 6 May 2022
ATSG Reports Record First Quarter 2022 Results
ATSG's first quarter 2022 results, as compared with the first quarter 2021, include:
Revenues of $486 million, up 29%GAAP Earnings of $50 million, up 18%Adjusted Earnings Per Share* of $0.56, nearly triple the year-earlier $0.20. Amounts for both years reflect additional shares for a change in GAAP presentation related to convertible notesAdjusted Pretax Earnings* of $64 million, more than triple $20 million a year agoAdjusted EBITDA* $158 million, up 49%Adjusted Free Cash Flow* $89 million, up 13% and $406 million for the trailing twelve months
Segment Results
CAM
A larger fleet of externally leased Boeing 767s versus a year ago contributed to CAM’s $24 million first-quarter revenue gain. CAM also realized 2022 revenues from new pay-by-cycle engine support services with several lessees of its 767-200 freighters. Aircraft leasing and related revenues from external customers were up 26 percent.
CAM’s first-quarter pretax earnings increased 63 percent to $35 million versus the prior-year quarter.Eighty-six CAM-owned 767 freighter aircraft were leased to external customers as of March 31, eleven more than a year ago. CAM expects to lease nine more 767 and two A321 freighters in 2022.
CAM purchased one 767-300 and two A321-200 passenger aircraft during the first quarter for conversion to freighters. Fifteen CAM-owned aircraft were in or awaiting conversion to freighters as of March 31, 2022, including three A321s.
Tuesday 15 March 2022
More Boeing freighter conversions for ATSG
Air Transport Services Groups leasing subsidiary Cargo Aircraft Management has placed a second order with U.S. planemaker Boeing for the conversion of four CAM-owned 767-300 aircraft into Boeing Converted Freighters (BCF), with an option for four additional conversions beyond that. The conversions are slated to begin in late 2023.
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Wednesday 9 March 2022
Cargo Aircraft Management Inducts Its First A321 to Freighter Conversion
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Monday 7 March 2022
Air Transport Services Group commitment to 29 Airbus A330P2F aircraft....
Air Transport Services Group, Inc. (ATSG), the world’s largest lessor of freighter aircraft, has committed to a total of 29 Airbus A330 Passenger-to-Freighter (P2F) conversion slots with Elbe Flugzeugwerke (EFW), center of excellence for Airbus freighter conversions and a joint venture between ST Engineering and Airbus.
The commitment of 29 A330P2F reflects a strategic step by ATSG to diversify its existing in-service fleet of 117 aircraft with the addition of next generation wide-body freighters.
“The A330-300 passenger-to-freighter conversion is a natural next step for ATSG as it is an excellent complement to the Boeing 767-300 medium wide-body freighter, which has long been the freighter of choice for the e-commerce air cargo market,” stated Mike Berger, chief commercial officer of ATSG. “The availability of feedstock combined with impressive cargo capacity make the A330 a very attractive option for conversion and will enable ATSG to continue to meet the demands for full-capacity freighters long into the future. The customer response to the news that we will have A330-300 freighters available for lease has been exceptionally strong, and we already have customer deposits toward future leases for half of these 29 converted freighters.”


Wednesday 19 January 2022
More than $560,000 raised for charities by ATSG
Air Transport Services Group, a leading provider of aircraft leasing and air cargo transportation, announced today that more than $560,000 was raised for various charitable causes during 2021.
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