|BOARD OF DIRECTORS|
|STOCK AND FILINGS|
WILMINGTON, OH - March 3, 2010 – Air Transport Services Group, Inc. (NASDAQ:ATSG) announced today that its leasing subsidiary, Cargo Aircraft Management, Inc. (CAM), has delivered the first of two efficient, Boeing 767 wide body freighters to Amerijet International, Inc.
Amerijet, which operates throughout Miami and Central America, has been a long-term ACMI customer of ABX Air, an ATSG cargo airline.
Under the seven-year lease agreement, Amerijet will dry-lease two Boeing 767-232 special freighters from CAM. The second leased freighter is scheduled to be delivered to Amerijet this spring. Amerijet also holds options to lease three additional 767 freighters from CAM.
CAM will provide a turnkey transition for the aircraft entering Amerijet’s operating fleet. Engines will be maintained under CAM’s contract with Delta TechOps, a subsidiary of Delta Air Lines, Inc. CAM arranged Boeing 767 training for Amerijet pilots through ABX Air, which also provided maintenance manuals and technical assistance to help Amerijet obtain 767 operating certificate approval. Airborne Maintenance & Engineering Services, another ATSG subsidiary, will provide ground and heavy maintenance services, fly-away kits, component exchange services and engineering and records service to Amerijet to support its daily aircraft operations.
"Our Boeing 767 freighter aircraft continue to attract attention from leading cargo airlines and other operators seeking high quality, wide body aircraft,” ATSG CEO and President Joe Hete said. “This arrangement with Amerijet capitalizes on the flexibility that the ATSG family of companies offers to its customers.”
Amerijet operates Boeing 727-200 and Boeing 767-200 aircraft from its primary hub at Miami International Airport and provides airfreight services from Miami and throughout Central America, South America and the Caribbean. Its main base is Fort Lauderdale-Hollywood International Airport.
David Bassett, President and CEO of Amerijet, said: “This aircraft is our launch aircraft into wide body freighter operations. It provides efficient capacity to service our core business and the flexibility to pursue new opportunities. The ACMI operation provided by ATSG allowed us to test-drive the performance and economics of the aircraft, while their dry-leasing opportunity and 360-degree support services made it easier for us to transition the aircraft into our own operation.”
ATSG’s relationship with Amerijet has grown from 767 freighter service on an ACMI basis through ABX Air, to a CAM dry lease and full operation by Amerijet with maintenance and support services provided through ATSG subsidiaries. Amerijet received options to dry lease the 767s from CAM a year ago.
”We are pursuing leasing arrangements with other operators throughout the world, along with our traditional ACMI and logistics support services,” Hete added. “Our goal is to provide aviation solutions that fit the short and long term needs of our customers.”
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 regulatory authorities 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.
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