Air Transport Services Group, the air cargo industry’s Swiss Army knife, revealed that a Dublin-based contract airline with customers such as Amazon Air and FedEx has ordered five Airbus converted freighters, building on the first-quarter profit contribution of its leasing arm.
The provider of aircraft leasing and outsourced air transport reported revenue increased 29% to $486 million and adjusted pretax earnings of $64 million, more than triple the amount in 2021, on the strength of a larger Boeing 767 fleet and greater passenger flying for the military. Both line items beat analysts’ consensus expectations.
The company boosted its full-year performance estimate to a record $640 million for adjusted earnings before noncore items, up almost $100 million from 2021, as demand for express package transport continues to grow.
