ATSG forecasts earnings of at least USD470m for 2020, 'even stronger results' once pandemic fades

Air Transport Services Group (ATSG) forecast (05-Aug-2020) adjusted EBITDA of at least USD470 million for 2020, due in part to robust demand for cargo aircraft and related airline services, and due to stronger than expected demand from government agencies for passenger charter services in 2Q2020. The projection reflects ATSG's assumptions regarding the level and duration of coronavirus pandemic impacts on commercial and military passenger operations and a reduced likelihood of continued passenger charter opportunities in 2H2020. President and CEO Rich Corrado stated: "Overall, ATSG's long term outlook is very bright, with especially strong demand for our cargo aircraft from lease and ACMI customers around the globe... When the pandemic fades, we expect to deliver even stronger results from our leasing, airline, aircraft maintenance and logistics operations". [more - original PR]