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4-Traders Homepage  >  Equities  >  Nasdaq  >  Air Transport Services Group Inc.    ATSG

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AIR TRNSPRT SRV : ATSG Contracts for Purchase of Boeing 767-300 Aircraft

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09/08/2011 | 04:00pm CET

Air Transport Services Group, Inc. (NASDAQ:ATSG) said today that its Cargo Aircraft Management Inc. (CAM) subsidiary has committed to purchase a Boeing 767-300-series extended-range aircraft from Qantas Airways Ltd.

ATSG said it anticipates that CAM will take delivery of its fifth 767-300 aircraft from Qantas in the fourth quarter, and schedule it for conversion from passenger to standard freighter configuration by mid-year 2012. CAM owns four other Boeing 767-300 aircraft and 36 Boeing 767-200 aircraft, all of which are in service as standard freighters or undergoing conversion from passenger to freighter configuration.

Joe Hete, President and CEO of ATSG, said, "This additional 767-300ER aircraft extends our leading global position in the medium wide-body freighter market. Our 14 years of experience operating and maintaining 767s around the world, including the expertise of our veteran 767 flight crews and maintenance personnel, make us the preferred source of 767 freighter airlift for customers seeking a comprehensive solution for missions best suited to the 767's unique performance and fuel-efficiency advantages."

About Air Transport Services Group, Inc. (ATSG)

ATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides air cargo lift, aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG's subsidiaries include ABX Air, Inc.; Air Transport International, LLC; Capital Aircraft Management, Inc.; Capital Cargo International Airlines, Inc.; LGSTX Services, 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 market demand for our assets and services, the cost and timing associated with the modification of Boeing 767-300 aircraft, 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 release 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 release. 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.

Air Transport Services Group, Inc.
Quint Turner, 937-382-5591


© Business Wire 2011
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Financials ($)
Sales 2016 757 M
EBIT 2016 73,7 M
Net income 2016 37,4 M
Debt 2016 447 M
Yield 2016 -
P/E ratio 2016 30,40
P/E ratio 2017 16,55
EV / Sales 2016 1,86x
EV / Sales 2017 1,67x
Capitalization 960 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 16,7 $
Spread / Average Target 3,5%
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Managers
NameTitle
Joseph C. Hete President, Chief Executive Officer & Director
Randy D. Rademacher Chairman
Quint O. Turner Chief Financial Officer & Head-Media Relations
Jeffrey J. Vorholt Independent Director
John Christopher Teets Independent Director
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