Thread: ATSG Leases
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Old 01-11-2010, 02:26 PM
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erichartmann
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Originally Posted by DC8DRIVER View Post

ABX Air also reported today that the leases for the final two of five 767 aircraft it had operated under capital leases on behalf of DHL were terminated in December 2009. Terminating these two leases will extinguish $18.6 million in debt and remove $8.3 million in net asset book value.

The first three of the five aircraft leases were terminated in the third quarter of 2009, cutting debt by $27.2 million and removing $12.6 million in net asset book value associated with the three aircraft. ABX Air has agreed to continue to operate up to four of these five aircraft under operating lease agreements fully reimbursed by DHL under the terms of its current ACMI agreement.
ATSG had 5 non cargo door 767's on leaseback. These were ex-ANA aircraft that ABX moded to its "C" container configuration, sold to banks, then leased back. I don't really know who owns the aircraft now, but I suspect it is DHL. I also wonder if the aircraft will be moded to the "A" container configuration, which might explain why ABX will continue to operate only 4.
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