Air Transport Services Group, Inc. (NASDAQ:ATSG) said today that its subsidiary, Cargo Aircraft Management, Inc. (CAM), has signed an option agreement under which Amerijet International, Inc., of Ft. Lauderdale, Fla., may lease up to five Boeing 767-200 freighters from CAM.
Under the agreement, Amerijet has exercised options for its first two freighters under seven-year dry-lease agreements. Amerijet is expected to begin operating those two aircraft following FAA approval around mid-year.
"We are pleased by Amerijet’s decision to lease our 767 freighter aircraft to serve its growing markets,” ATSG CEO and President Joe Hete said. "As the world’s principal source of highly efficient Boeing 767 widebody freighters, we look forward to serving Amerijet and other carriers with these valued assets, under either leased or ACMI agreements, as their needs evolve.”
Amerijet is a diversified transportation services company with air, land and ocean freight operations around the world. It currently operates Boeing 727-200 and Boeing 767-200 cargo aircraft from its primary hub at Miami International Airport.
ATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG also provides aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG’s subsidiaries include ABX Air, Inc., Air Transport International, LLC, Capital Cargo International Airlines, Inc., Cargo Aircraft Management, Inc., and LGSTX Services, Inc.
Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. There are a number of important factors that could cause Air Transport Services Group's ("ATSG's") actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, Amerijet obtaining the necessary approvals from the FAA and other factors that are contained from time to time in ATSG's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on ATSG's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ATSG undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
Quint O. Turner, 937-382-5591
Chief Financial Officer