ATSG report Q1 results

Air Transport Services Group (ATSG), which leases wide-body freighter aircraft, air cargo transportation and related services, has a 21% increase in revenue to $177.4 million. Excluding revenues from reimbursed expenses, revenues increased 18%. This increase included contributions from five more dry leases of Boeing 767 cargo aircraft with external customers, and expanded air network operations for ATSG’s newest customer, Amazon Fulfillment Services (AFS), a subsidiary of Amazon. Pre-tax Earnings from Continuing Operations were $12.1 million, versus $14.5 million in the prior-year period. Adjusted Pre-Tax Earnings increased 13% to $16.1 million. That metric excludes non-cash charges associated with pension costs, debt