ATSG operating profit up 16.6% in 2020

Air Transport Services Group (ATSG) reported (25-Feb-2021) the following financial highlights:

• Three months ended 31-Dec-2020:
  • Revenue: USD399.4 million, -1.0% year-on-year;
    • Cargo Aircraft Management: USD83.4 million, -1.7%;
    • ACMI: USD275.3 million, -6.1%;
  • Operating expense: USD339.9 million, -3.2%;
    • Labour: USD145.3 million, +15.7%;
    • Fuel: USD31.6 million, -29.4%;
  • Operating profit: USD59.4 million, +13.8%;
  • Net profit: USD5.1 million, compared to a loss of USD40.2 million in p-c-p;
• 12 months ended 31-Dec-2020:
  • Revenue: USD1571 million, +8.2%;
    • Cargo Aircraft Management: USD308.7 million, +8.1%;
    • ACMI: USD1147 million, +6.4%;
  • Operating expense: USD1364 million, +7.0%;
    • Labour: USD519.0 million, +19.7%;
    • Fuel: USD148.4 million, -4.3%;
  • Operating profit: USD206.4 million, +16.6%;
  • Net profit (loss): USD32.1 million, -47.5%;
  • Total assets: USD3002 million;
    • Cash and cash equivalents: USD39.7 million;
  • Total liabilities: USD2146 million. [more - original PR]