ABX pilots strike

Update 23 November: A judge in the United States District Court, Southern District of Ohio, will hold an evidentiary hearing on the case late today (Wednesday), but until he reaches a decision, the strike looks set to continue. This morning, four days before Black Friday, the beginning of the annual consumer shopping frenzy that runs from Thanksgiving […]
  • David Harris
  • November 22, 2016

Freighter aircraft leasing – Part III

Today we conclude our three-part series on freighter aircraft leasing. In Part I and Part II we looked at the subject from the point of view of the leasing companies, today we turn from lessors to carriers, and ask a basic question: Why lease? Why would an airline choose to lease a freighter, rather than […]
  • David Harris
  • September 28, 2016

Amazon network ramp-up drives a good quarter at ATSG

Air Transport Services Group (ATSG) reported a strong second quarter, with net income up 7.3% y-o-y to $12 million, as net revenue from customers rose 19.0% to $177 million. Operating income (EBIT) for the quarter was down 20.2% to $16 million. On an adjusted basis, pre-tax earnings were down 2.4% to $16 million, “reflecting $2.6 […]
  • David Harris
  • August 10, 2016

Details emerge regarding Amazon’s ATSG Warrants

News of Amazon’s planned foray into the air express network broke on March 8 when Air Transport Services Group (ATSG) announced it would operate twenty 767 freighters on Amazon’s behalf out of its Wilmington, OH hub. The deal however, was not limited to planes, it also granted Amazon warrants exchangeable for ATSG shares. Details regarding […]
  • Charles Kauffman
  • March 21, 2016

Amazon gains right to own 19.9% of ATSG as 20-freighter network is confirmed

One day after reporting excellent fourth-quarter results, Air Transport Services Group (ATSG) finally broke the news we have been expecting for some time: it has signed a deal with e-commerce giant Amazon to operate an express air network based on twenty ATSG-owned 767 freighters. No huge surprise there, as it has been an open secret […]
  • David Harris
  • March 9, 2016

ATSG ups guidance – where does Amazon fit in?

US-based Air Transport Services Group issued guidance for stronger fourth-quarter and full-year 2015 results than it had earlier predicted. At the beginning of this week, the company said it now expected that 2015 EBITDA would be “in a range of $196 – $200 million.” This is up 2.5% over its earlier guidance of $190 – […]
  • David Harris
  • February 11, 2016

ASL and West Atlantic are raising cash

The front-runner to acquire TNT’s two airlines – in terms of market speculation, anyway – is Ireland’s ASL Aviation Group and its 51% shareholder, Compagnie Maritime Belge (CMB). So it comes as little surprise that ASL has completed a funding round, worth US$110m, for “growth plans.” While no one is talking much about their possible […]
  • Alex Lenanne
  • December 29, 2015

Amazon Airlines?

It looks like “Amazon Airlines” is on its way. During a conference call in early November, following publication of Air Transport Services Group’s third-quarter results, CEO Joe Hete commented on the subject of managing express networks for customers, saying: “The trial ACMI express network that we launched in September for a US customer has been performing […]
  • David Harris
  • November 30, 2015
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