Air Transport Services Group revenue down 3.7%, profits soar in 3Q2010

Air Transport Services Group revenue down 3.7% - financial highlights for the three months ended 30-Sep-2010:

• Revenue: USD167.7 million, -3.7% year-on-year;
  • CAM Leasing: USD28.6 million, +78.0%;
  • ACMI Services: USD142.7 million, -11.0%;
• Operating costs: USD146.5 million, -10.3%;
• Operating profit: USD11.4 million, +298.9%;
• Net profit: USD11.2 million, +198.6%;
• Total assets: USD918.3 million, -8.4%;
• Total liabilities: USD621.2 million, -17.9%. [more]

Air Transport Services Group: "The demand for our cargo aircraft, and especially for our services and support as 767 freighter operators, is even greater than we forecast when we committed to convert 14 of our 767-200s to standard freighters, and when we committed to purchase more advanced 767-300s earlier this year. We are already working toward firm commitments for our 767-300s, the first of which is expected to enter service toward the end of the first quarter 2011," Joe Hete, CEO and President. Source: ATSG, 03-Nov-2010.