ATSG in 3% Q1 2023 revenue increase

Air Transport Services Group (ATSG) recorded revenue of $501 million, up 3%, for the first quarter of 2023 (Q1 2023). Earnings per share were down $0.39 to 28 cents, with pre-tax earnings of $27 million, versus $65 million, and adjusted pre-tax earnings of $38 million, down from $64 million. Adjusted EBITDA came to $138 million, down $20 million. Aircraft leasing and related revenues were up 8% year-on-year, ATSG reported, saying the result was “primarily reflecting the benefit of eight newly converted Boeing 767-300 freighters leased since the beginning of the first quarter of 2022”. The rise was “offset by lower