ATSG & Cargojet Complete Agreement for Additional 767-200 Freighter Airlift

  ATSG & Cargojet Complete Agreement for Additional 767-200 Freighter Airlift

        ATSG Subsidiary to Dry-Lease Two Additional 767-200 Freighters

Business Wire

WILMINGTON, Ohio -- May 6, 2014

Air Transport Services Group, Inc. (NASDAQ:ATSG) announced today it has signed
a new agreement with Cargojet, Canada’s Cargo Airline, to lease two 767-200ER
freighters.

Cargojet currently dry-leases two Boeing 767-200 freighters from ATSG’s
subsidiary Cargo Aircraft Management Inc. (CAM) under long-term agreements.
Cargojet has signed agreements to dry-lease an additional two Boeing 767-200
freighters from CAM, for up to three years. The first aircraft is expected to
be delivered by the end of the second quarter, with the second aircraft
delivering early in the third quarter.

“This agreement reflects ATSG’s leadership in the 767-200 freighter market and
our ability to quickly react to meet the needs of expanding cargo airlines
like Cargojet,” ATSG President and CEO Joe Hete said. “Cargojet will be
putting these aircraft to work quickly. Our long term relationship with them,
and prior experience in leasing these aircraft-types into Canada, will provide
more rapid into-service capability.”

“Cargojet is currently in the process of a fleet renewal plan. Leasing these
two additional 767-200 freighters is part of our current growth strategy to
continue to meet our customer’s requirements and needs,” said Ajay Virmani,
President and CEO of Cargojet. “The 767-200 freighters were introduced to our
fleet in 2008. These aircraft have provided our network with efficiency and
reliability, allowing Cargojet to be the most dependable air cargo service
provider in Canada.”

CAM President Rich Corrado said, “It’s gratifying when a satisfied customer
like Cargojet, expands their business with us by taking additional aircraft.
We now expect 23, or over half of our 767 freighters, to be operating under
long-term dry leases with external customers by the end of the third quarter
this year, and the remainder being leased by ATSG subsidiary airlines.”

About Cargojet

Cargojet is Canada's leading provider of time sensitive overnight air cargo
services and carries over 750,000 pounds of cargo each business night.
Cargojet operates its network across North America each business night,
utilizing a fleet of all-cargo aircraft. Cargojet recently signed an LOI with
Air Canada to explore strategic opportunities in both cargo and airline
operations within Canada and international markets. For more information,
please visit: www.cargojet.com

About ATSG

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 two
airlines with separate and distinct U.S. FAA Part 121 Air Carrier
certificates, ATSG provides air cargo lift, 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
Aircraft Management, Inc.; Inc.; LGSTX Services, Inc.; and Airborne
Maintenance and Engineering Services Inc. For more information, please see
www.atsginc.com

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, changes in market demand for our assets and services, the
number and timing of deployments of our aircraft, 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.

Contact:

ATSG, Inc.
Quint Turner, 937-382-5591
 
Press spacebar to pause and continue. Press esc to stop.