ATSG gains rights to acquire 20 Boeing 767-300ER aircraft

Air Transport Services Group, Inc. (Nasdaq: ATSG) has announced it has entered into an agreement with Jetran, LLC to acquire 20 Boeing 767-300 extended-range passenger aircraft from Jetran over the next three years, the company said.

The aircraft covered by this agreement are currently operated by American Airlines. They were manufactured between 1993 and 2003, and are powered by General Electric CF6-series engines. ATSG currently expects to begin freighter modification of six of the twenty 767-300s during 2019, up to nine during 2020, and no fewer than five in 2021.

Based on that anticipated schedule, and apart from any other transactions involving 767-300s, ATSG projects that it would own at least fifty-nine 767-300 freighter aircraft by the end of 2021, compared with thirty-nine at the end of 2018.

Cargo Aircraft Management, ATSG´s aircraft leasing subsidiary, will purchase, manage freighter conversion, and lease the 20 aircraft. Based on customer demand, however, CAM may choose to refurbish and lease one or more of them internally as passenger aircraft to Omni Air for charter or ACMI service with Omni Air´s government and commercial customers.

Air Transport Services Group, Inc. is a provider of medium wide-body cargo aircraft leasing, passenger and cargo air transport and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements.