ATSG Secures Rights to Fleet of Boeing 767-300ER Aircraft
Twenty aircraft to be acquired through 2021 will meet strong e-commerce-driven demand for mid-size
freighters
Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body cargo aircraft leasing, passenger
and cargo air transport and related services, today announced an agreement with Jetran, LLC to acquire twenty Boeing 767-300
extended-range passenger aircraft from Jetran over the next three years.
The aircraft covered by this agreement are currently operated by American Airlines. They were manufactured between 1993 and
2003, and are powered by General Electric CF6-series engines. ATSG currently expects to begin freighter modification of six of the
twenty 767-300s during 2019, up to nine during 2020, and no fewer than five in 2021.
Based on that anticipated schedule, and apart from any other transactions involving 767-300s, ATSG projects that it would own at
least fifty-nine 767-300 freighter aircraft by the end of 2021, compared with thirty-nine at the end of 2018. ATSG also owns six
other passenger 767-300s, all currently operated by its recently acquired passenger airline subsidiary, Omni Air International, and
owns other Boeing 737, 757, 767 and 777 aircraft.
“As the world’s leading source of mid-sized converted 767 freighters, we have the appetite and financial strength to respond
when a large fleet of commonly configured, high quality feedstock aircraft becomes available,” said Joe Hete, President and CEO of
ATSG. “Our discussions with a number of customers about leasing multiple 767-300s from us for deployment in new and expanding
networks give us confidence that the market will remain strong. Contracting to acquire these aircraft at good value, along with our
unique abilities to convert, lease, operate and maintain them for our customers, is proof of our commitment to serve that market
growth for several more years to come.”
Cargo Aircraft Management, ATSG’s aircraft leasing subsidiary, will purchase, manage freighter conversion, and lease the 20
aircraft. Based on customer demand, however, CAM may choose to refurbish and lease one or more of them internally as passenger
aircraft to Omni Air for charter or ACMI service with Omni Air’s government and commercial customers.
About Air Transport Services Group, Inc. (ATSG)
ATSG is a leading provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air
carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries,
is the world's largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including
three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo
lift, passenger ACMI and charter services, aircraft maintenance and conversion services, and airport ground services. ATSG's
subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne Maintenance and Engineering Services, Inc. including
its subsidiary, Pemco World Air Services, Inc.; Air Transport International, Inc.; ATSG West Leasing; Cargo Aircraft Management,
Inc.; and Omni Air International, LLC. For more information please visit 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, continuing demand for our assets and services; the cost and timing with respect to which we are able to
purchase and modify aircraft to a cargo configuration; the number and timing of deployments and redeployments of our aircraft to
customers; 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.
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Quint O. Turner
ATSG Inc. Chief Financial Officer
937-366-2303
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