ATSG reports revenue increase in 2022

US lessor and cargo carrier Air Transport Services Group (ATSG) has reported $2bn in revenue for 2022, up 18% on 2021, with $533 million coming in the fourth quarter (Q4 2022). Pretax earnings were $65 million for Q4 and $263 million for the year, ATSG said, with earnings per share of $2.28 for the year, up 42% on 2021. Adjusted EBITDA was $641 million, up $100 million or 18%, for the year, but excluded $112 million in federal grants to ATSG’s passenger airline Omni Air. Operating cash flows were given as $472 million and adjusted free cash flow was $285