Atsg ati/abx
 

Here at ATI the HR department likes to remind the pilot group of how well the company is doing. On the back of a 10yr old pilot pay scale I might add. Talk about lack of class.





Please share with employees. OK to print and forward.

The following information was released to the media this afternoon.

Dry-Leasing Drives ATSG Operating Gains
Boeing 767 Operating Freighter Fleet Increases By Eight; 81% of 767 Fleet Under Multi-Year Dry Lease

WILMINGTON, OH, November 6, 2017 - Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body aircraft leasing, air cargo transportation and related services, today reported consolidated financial results for the quarter ended September 30, 2017.

Compared with amounts for the third quarter of 2016 (except as noted):

• Revenues increased $60.8 million, or 31 percent, to $254.1 million. Excluding revenues from reimbursable airline expenses, revenues increased $49 million, or 29 percent. ATSG's dry leasing, and maintenance and logistics businesses recorded double-digit revenue increases before eliminations.

• GAAP Earnings from Continuing Operations were a loss of $28.2 million, or $0.48 per share diluted, compared with a positive $2.1 million, or $0.04 per share, in the year-earlier quarter. This quarter's earnings included non-cash after-tax charges totaling $43.1 million for revaluation of the warrants granted to Amazon Fulfillment Services, Inc. in connection with operating and lease agreements which began in April 2016, the amortization of lease incentives related to those Amazon warrants, a non-cash pension settlement charge, and other items. The value of the warrant liability increased versus the same period a year ago due to additional warrants vesting, and from calculating the value based on a 12 percent gain in ATSG's stock price during the third quarter.

• Adjusted Earnings from Continuing Operations, which exclude non-cash warrant, pension, and other items, were $14.9 million, up 72 percent. Adjusted Earnings Per Share from Continuing Operations were $0.22 for the quarter, up eight cents versus a year ago. The EPS calculation also reflects 9.9 million shares related to the warrants for the third quarter, versus 3.3 million a year ago. These Adjusted Earnings and other adjusted amounts referenced below are non-GAAP financial measures, and are reconciled to GAAP results in tables in this release.

• GAAP Pre-tax Earnings from Continuing Operations were a negative $20.8 million, versus a positive $3.1 million a year ago. Adjusted Pre-tax Earnings, which exclude warrant effects along with the pension settlement charges and other non-cash items, increased 58 percent to $24.0 million.

• GAAP Operating Income increased 31 percent to $18.9 million.

• Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization, as defined and adjusted in a table later in this release) increased 27 percent to $65.9 million versus a year ago, and increased $1.8 million from the second quarter of 2017.

• Capital expenditures through the first nine months of 2017 were $218.8 million versus $182.1 million in the same period of 2016. ATSG’s operating 767 freighter fleet has increased by six, to 58, during the first nine months of 2017.

Joe Hete, President and Chief Executive Officer of ATSG, said, “As we indicated in August, our adjusted results for the third quarter were very similar to those in the second quarter, and were up significantly from the third quarter a year ago. They reflect growth in our operating fleet and strong double-digit growth in associated lease revenues. We expect to deploy five more freighters to lease customers by year-end, and increase operating utilization for our CMI and ACMI fleets during a good peak season.”

Read the rest of the release on .

It’s good to be recognized for our hard work. Scumbags!

Actually, they're saying that the businesses that they run that don't use those pesky pilots are doing great!

The dry lease is AMZ and DHL...The hawaii contract is crew only, we don’t own that AC


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No,the dry lease is the stuff going to NAC, Amerijet, Cargojet etc. The DHL and AMZN stuff are wet leases.

Read the CC transcript to hear Hete talk about his 'wet to dry' transition program that he is selling to customers now- ATSG comes in with a full "wet" (ACMI)lease and runs the route for you until you are ready to take over with your own airline, at which point it switches to a dry lease. It's what we just did with Aloha and, soon, the SAS Miami flying.

Atsg ati/abx
 

Yep I stand corrected, although AMZ DHL arent full wet since they buy gas. We bill back for that, thats literally one poor girls job in ILN.

As you said Hawaiian is crew only. Which to my knowledge is the first time we’ve done such a thing.


————-BUT————-

The above is all BS anyway because ABX ATI lease those planes at a rate that is above market. PLUS for what we pay in MX cost are twice that of industry standard. I believe 1224 has proven this.

Whats really happening is ATSG is riding the backs of the pilots on decade++ old pay rates. I mean seriously I’m/we’re taking it in the @$$ so bad here its like I have an ad on backpage.




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ATI is backpage but ABX is more like Eros cuz they make A LOT more.

Whoa!!! Omg nope those are like UPS or something...

Screw this site Im going window shopping!!!!!!


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You boys have Legacy taste and a bottom feeder pay.


The numbers above are worthless. Inflation of operational cost through maintenance and leasing is the oldest game in the book. Plus your leasing company probably took the depreciation of the aircraft they are gouging you guys on. If I was ATSG I would start a training subsidiary too as these are all becoming a stepping stones to better jobs.

The commuters are trolling highschools now with highscool to flight school programs. They will happily fly in this market for 2-3yrs. Mark my word

For what it's worth, the agreements actually work this way. Amazon dry leased the CAM 767-200s for 5 years. They dry leased the CAM 767-300s for seven years. Whatever the lease rates are on those airplanes, they are paid directly by AFS to CAM. Separately, Amazon and the ATSG carriers entered into a CMI agreement for 5 years, terminable at Amazon's convenience on 180 days notice. With respect to Atlas, the 767-300s are dry leased by Amazon from Atlas leasing subsidiaries Titan and Andromeda for 10 years, with the AFS/Atlas Air CMI agreement being for 7 years, with a similar termination for convenience provision. All of the Amazon Prime Air aircraft are controlled by Amazon; they can't be used by the carriers for anything else, and on 180 days notice, Amazon can place any of them with any carrier they wish. 1709A, 255CM and 395CM are aircraft that are dry leased by each of Atlas and ATI from their respective leasing companies, and are used by those carriers for whatever purpose they wish, including as backups if necessary for their Amazon contracts.