ICAO alleged cyber hack revealed

Lauren Eldershaw
By Lauren Eldershaw February 28, 2019 09:09

ICAO alleged cyber hack revealed

Air Transport Services Group (ATSG) has reported customer revenues up to $280.8 million in the fourth quarter of 2018 compared to $221.2 million in the year-ago period. Adjusted earnings were $24.1 million in 4Q 2018 compared to $19.6 million in 4Q 2017.

ATSG reports 2018 capital spending at $292.9 million, comparable to 2017, as ten cargo aircraft (nine Boeing 767s, one Boeing 737) were deployed in each year.

Capital expenditures in 2018 included $197 million for the acquisition of eight Boeing 767 aircraft and freighter modification costs, versus $209.4 million for eight Boeing 767s and two Boeing 737s plus modification costs in 2017. Other business investments in 2018 included $855.1 million for the acquisition of Omni Air International in November.

Adjusted Earnings per Share, Adjusted Earnings from Continuing Operations and Adjusted EBITDA from Continuing Operations are non-GAAP financial measures and are defined in the non-GAAP reconciliation tables at the end of this release. (See also the paragraphs entitled “Revenue Recognition” and “Non-GAAP Financial Measures”)

Joe Hete, President and Chief Executive Officer of ATSG, said that ATSG delivered on its 2018 commitments to meet demand for its freighter aircraft by deploying ten of them during the year, while securing additional assets and businesses to ensure its growth and diversify its customer base far into the future.

“Our 2018 Adjusted EBITDA increased 16 percent to $312.1 million, our second straight year of double-digit growth in that financial metric. Our acquisitions of Omni Air and rights to twenty more 767 feedstock aircraft from the fleet of American Airlines, plus the extension and expansion of our agreements with Amazon, have strengthened our platform for sustainable, profitable and diversified growth with some of the world’s largest entities,” Hete said. “With ninety aircraft in service providing solid incremental returns, we are poised for strong growth in 2019 and superior long-term returns for our shareholders.”

Lauren Eldershaw
By Lauren Eldershaw February 28, 2019 09:09