ATSG, DHL Extend Agreement Through March 2019
January 15 2015 - 5:27PM
Business Wire
Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced
that it has completed a new agreement that extends its support of
DHL’s air cargo network in the United States through at least March
2019. Principal elements of the new agreement include:
- Extended dry leases through March 2019
for the 13 Boeing 767 freighters currently leased to DHL for its
U.S. air network.
- New dry leases of two Boeing 767
freighters through March 2019.
- ABX Air’s continued operation of the
fifteen Boeing 767 freighters leased to DHL through March
2019.
- Continued incentives for superior
operating performance.
- Attractive terms for DHL to broaden
ATSG’s support of its global network operations.
Joe Hete, President and CEO of ATSG, said the agreement marks
the next stage in ATSG’s more than 11-year relationship with DHL,
under which ATSG provides the aircraft assets and services that
support the majority of the air freight that moves through DHL’s
U.S. network each day, and provides additional freighter support to
DHL elsewhere in the world.
“This new agreement will give DHL continued access to efficient,
reliable freighter services in the U.S. market,” Hete said. “With
more than half of our 45 Boeing 767 freighters deployed under
multi-year dry leases producing attractive cash flow returns,
additional business arising from an improving air freight
environment, and growth in our maintenance services and other
operations, we intend to begin returning capital to our
shareholders through our share repurchase program starting in the
second quarter of 2015.”
About 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
two airlines with separate and distinct U.S. FAA Part 121 Air
Carrier certificates, ATSG provides aircraft leasing, air cargo
lift, aircraft maintenance services and airport ground services.
ATSG's subsidiaries include ABX Air, Inc.; Airborne Global
Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft
Management, Inc.; and Airborne Maintenance and Engineering
Services, Inc. For more information, please see
www.atsginc.com.
ATSG Inc.Quint O. Turner, Chief Financial Officer,
937-382-5591
Air Transport Services (NASDAQ:ATSG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Air Transport Services (NASDAQ:ATSG)
Historical Stock Chart
From Apr 2023 to Apr 2024