Reported 13 days ago
Air Transport Services Group (ATSG), the leading freighter aircraft lessor globally, reported a 10% decline in revenue for the third quarter due to the return of many leased aircraft and a reduction in outsourced cargo flights. Despite increased operational costs from expanding its fleet for Amazon, revenue fell to $471 million, while pretax earnings dropped 22%. ATSG is adapting by diversifying its client base and anticipates improvements in the fourth quarter as new lease agreements come into effect.
Source: YAHOO