ATSG Statement Concerning DB Schenker Announcement

Dépèche transmise le 22 juillet 2011 par Business Wire

WILMINGTON, Ohio--(BUSINESS WIRE)--Air Transport Services Group, Inc. (NASDAQ:ATSG) today released the following statement attributable to Joe Hete, President and Chief Executive Officer of ATSG:

“We have been advised by our second-largest customer, DB Schenker, concerning its plans to adopt a new operating model that phases out the dedicated air-cargo network supported by our airline subsidiaries, Air Transport International, LLC (ATI) and Capital Cargo International Airlines, Inc. (CCIA). While we are continuing to evaluate that notice in the context of our other communications with DB Schenker, we expect a reduction in our role as a provider of main-deck freighter lift for DB Schenker in North America.

“We are analyzing the continuing and one-time effects this phase-out will have on our fleet and our financial results, and will provide more information to shareholders as soon as practicable. We estimate that on an annualized basis, each of our eight DC-8 and eight 727 aircraft dedicated to the DB Schenker network generates approximately one cent per share in earnings after tax. We cannot yet determine, however, when or how many of those aircraft will be removed from DB Schenker service, nor how readily we can deploy them with other customers or otherwise realize their value. If all of the DC-8 and 727 aircraft currently dedicated to DB Schenker are eventually removed from service, we project an annual reduction in required capital maintenance expenditures of $10 to $15 million.”

ATSG intends to release its financial results for the second quarter ended June 30, 2011, in the next few weeks. We expect to be able to share more information about this matter, while also discussing the results of our continuing successful investment in, and deployment of, wide-body 767 freighter aircraft with major customers around the world.

About ATSG

ATSG is a leading provider of aircraft leasing and air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, through its leasing and airline subsidiaries, is the largest owner and operator of converted Boeing 767 freighter aircraft in the World. Through its principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG’s subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Air Transport International, LLC; Cargo Aircraft Management, Inc.; Capital Cargo International Airlines, 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, whether and the extent to which ATI and CCIA continue to perform services for DB Schenker in conjunction with and under its new operating model, ATI’s and CCIA’s ability to, and the speed with which, they can redeploy or otherwise realize the value of those aircraft that are displaced from DB Schenker’s network under its new operating model 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.

Business Wire

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