AMERICAS: ATSG sees 1Q earnings drop 61%

First-quarter earnings fell 61 per cent for Air Transport Services Group because of increased maintenance expenses for its cargo aircraft and the cost of obtaining a new line of corporate financing, the company reported recently. The Wilmington-based company, which owns the freight carrier ABX Air, leases aircraft for cargo transport and provides aircraft maintenance services […]


First-quarter earnings fell 61 per cent for Air Transport Services Group because of increased maintenance expenses for its cargo aircraft and the cost of obtaining a new line of corporate financing, the company reported recently. The Wilmington-based company, which owns the freight carrier ABX Air, leases aircraft for cargo transport and provides aircraft maintenance services reported earnings for the first three months of 2011 of US$2.8 million, compared with $7.2 million for the same period a year earlier.