Air Transport International is one of two cargo airlines operated by Air Transport Services Group.365Trucking.com
Key Takeaways:
Air Transport Services Group (ATSG) achieved record revenues and pre-tax earnings in Q3 2021, surpassing analyst expectations and leading to a raised full-year financial outlook, driven by strong e-commerce demand and a cargo capacity shortage.
The company is significantly expanding its freighter fleet through passenger-to-cargo conversions, establishing a new partnership with Boeing to accelerate this process and expecting increased aircraft leases, notably to Amazon.
ATSG's hybrid leasing model, separating aircraft leases from operating agreements, continues to be a key driver of revenue growth by offering flexible solutions to its customers.
Air Transport Services Group, a diversified air cargo provider, racked up another win in the third quarter of 2021 with record revenues and pre-tax earnings of $81.2 million compared to $5.6 million a year ago.
Credit the strong e-commerce demand and an industry shortage of cargo capacity.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
Eric is the Air Cargo Market Editor at FreightWaves. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D.C., correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. He has won two regional Gold Medals from the American Society of Business Publication Editors for government coverage and news analysis, and was voted best for feature writing and commentary in the Trade/Newsletter category by the D.C. Chapter of the Society of Professional Journalists. As associate editor at American Shipper Magazine for more than a decade, he wrote about trade, freight transportation and supply chains. Eric is based in Portland, Oregon. He can be reached for comments and tips at ekulisch@freightwaves.com
