ATSG RECEIVES NASDAQ DEFICIENCY NOTICE

WILMINGTON, Ohio – Sept. 22, 2008 – Air Transport Services Group, Inc. (NASDAQ: ATSG) received a writtennotification from The NASDAQ Stock Market (“NASDAQ”) on September 16, 2008, indicating that the minimum bidprice of the Company’s common stock had fallen below $1.00 for 30 consecutive trading days and that it wastherefore not in compliance with NASDAQ Marketplace Rule 4405(a)(5). The notice further provided that inaccordance with the NASDAQ Marketplace Rules, the Company will be provided 180 calendar days, or until March16, 2009, to regain compliance with the minimum bid price requirement.

If at any time before March 16, 2009, the bid price of the Company’s stock closes at $1.00 or higher for a minimum often consecutive business days, NASDAQ will notify the Company that it has achieved compliance with the minimumbid price requirement. If the Company does not regain compliance with the minimum bid price requirement by March16, 2009, NASDAQ will notify the Company that its common stock will be delisted from The NASDAQ Global Market.

In the event the Company receives notice that its common stock is being delisted from The NASDAQ Global Market,the NASDAQ Marketplace Rules permit the Company to appeal the delisting to a NASDAQ Listing QualificationsPanel. Alternatively, NASDAQ may permit the Company to transfer its common stock to The NASDAQ Capital Marketif it satisfies the requirements for initial inclusion set forth in NASDAQ Marketplace Rule 4310(c), except for theminimum bid price requirement. If its application for transfer is approved, the Company would have an additional 180calendar days to comply with the minimum bid price requirement in order to remain on The NASDAQ Capital Market.

About ATSG
ATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers andother companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including threeairlines 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.

For more information, contact:
Quint Turner
Chief Financial Officer
Air Transport Services Group, Inc.937-382-5591