ATSG Archives - The Loadstar Making sense of the supply chain Tue, 05 Nov 2024 12:02:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 Law firm urges shareholders to join probe into ATSG sale to Stonepeak https://theloadstar.com/law-firm-urges-shareholders-to-join-probe-into-atsg-sale-to-stonepeak/ https://theloadstar.com/law-firm-urges-shareholders-to-join-probe-into-atsg-sale-to-stonepeak/#respond Tue, 05 Nov 2024 12:02:00 +0000 https://theloadstar.com/?p=284302 ATSG shareholders are being encouraged to join an investigation into whether the proposed sale of the group to investor Stonepeak is fair. 
On the announcement of the deal yesterday, which would see shareholders receive $22.50 per share – a premium of about 29.3% on Friday’s closing share price, and a 45.5% premium on the volume-weighted average price – investor rights law firm Halper Sadeh urged shareholders to join it to investigate ...

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]]> https://theloadstar.com/law-firm-urges-shareholders-to-join-probe-into-atsg-sale-to-stonepeak/feed/ 0 284302 Halper Sadeh investigating whether the sale of ATSG is fair to shareholders https://theloadstar.com/halper-sadeh-investigating-whether-the-sale-of-atsg-is-fair-to-shareholders/ https://theloadstar.com/halper-sadeh-investigating-whether-the-sale-of-atsg-is-fair-to-shareholders/#respond Tue, 05 Nov 2024 09:01:43 +0000 https://theloadstar.com/?p=284262 PRESS RELEASE
ATSG Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Air Transport Services Group, Inc. Is Fair to Shareholders

November 04, 2024 10:27 AM Eastern Standard Time

NEW YORK–(BUSINESS WIRE)–Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Air Transport Services Group, Inc. (NASDAQ: ATSG) to Stonepeak for $22.50 per share in cash is fair to Air Transport shareholders.
Halper Sadeh encourages Air Transport shareholders ...

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]]> https://theloadstar.com/halper-sadeh-investigating-whether-the-sale-of-atsg-is-fair-to-shareholders/feed/ 0 284262 ATSG set to be acquired by Stonepeak https://theloadstar.com/atsg-set-to-be-acquired-by-stonepeak/ https://theloadstar.com/atsg-set-to-be-acquired-by-stonepeak/#respond Mon, 04 Nov 2024 12:59:32 +0000 https://theloadstar.com/?p=284188 ATSG could follow in the footsteps of rival Atlas Air and delist, following news that it is to be acquired. 
Reuters has reported that investor Stonepeak is in “advanced” talks to buy the airline and leasing group for some $3.1bn, including debt, or $22.50 per share. 
ATSG is due to report third-quarter earnings on Friday, but its Q2 results saw a pre-tax loss of $7m after fewer aircraft leases. Stonepeak last year ...

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]]> https://theloadstar.com/atsg-set-to-be-acquired-by-stonepeak/feed/ 0 284188 ATSG soars as takeover is confirmed https://theloadstar.com/atsg-soars-on-takeover-talk/ https://theloadstar.com/atsg-soars-on-takeover-talk/#respond Mon, 04 Nov 2024 11:31:09 +0000 https://theloadstar.com/?p=284092 The risk of writing what follows is that it will be out of date as soon as it’s published.
However, following reports that ATSG could be taken over by a New-York based investment firm, what follows is worth the pain of a… quick recap.
(PS: The deal was confirmed after this note was published; all main terms confirmed, the full release is here.)
If…
News agency Reuters is accurate – it so often is ...

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]]> https://theloadstar.com/atsg-soars-on-takeover-talk/feed/ 0 284092 Air cargo rates still on a high, but ATSG reports a quarter to forget https://theloadstar.com/air-cargo-rates-still-on-a-high-but-atsg-reports-a-quarter-to-forget/ https://theloadstar.com/air-cargo-rates-still-on-a-high-but-atsg-reports-a-quarter-to-forget/#respond Fri, 09 Aug 2024 11:39:44 +0000 https://theloadstar.com/?p=278327 Early August has seen something of a boost for airfreight rates, with volumes also on the up. But in this air cargo round-up let us pause for a moment as ATSG announces declining second-quarter profits and revenues.
Starting with the upward trends, WorldACD’s week 31 figures showed strong demand – driven by e-commerce and ceaseless supply chain disruptions – had led to a year-on-year bump of 12% for both rates and ...

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]]> https://theloadstar.com/air-cargo-rates-still-on-a-high-but-atsg-reports-a-quarter-to-forget/feed/ 0 278327 ATSG appoints Mike Berger as new CEO https://theloadstar.com/atsg-appoints-mike-berger-as-new-ceo/ https://theloadstar.com/atsg-appoints-mike-berger-as-new-ceo/#respond Wed, 05 Jun 2024 11:39:20 +0000 https://theloadstar.com/?p=273609 Air Transport Services Group (ATSG) has appointed president Mike Berger (pictured) as its new CEO, to replace Joe Hete.
Mr Hete, also chair of the board, becomes executive chair in the change. Mr Berger will take up a place on the board, while board member Jeffrey Dominick becomes president. All the moves are effective immediately.
Mr Hete was CEO of ATSG from 2007 to 2020, when he became chair. He was re-appointed ...

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]]> https://theloadstar.com/atsg-appoints-mike-berger-as-new-ceo/feed/ 0 273609 Airlines face Q4 capacity ‘balancing act’ as they weigh up ecommerce potential https://theloadstar.com/airlines-face-q4-capacity-balancing-act-as-they-weigh-up-ecommerce-potential/ https://theloadstar.com/airlines-face-q4-capacity-balancing-act-as-they-weigh-up-ecommerce-potential/#respond Tue, 07 May 2024 12:25:48 +0000 https://theloadstar.com/?p=271240 Air Transport Services Group (ATSG) has made a further deal to operate freighters for Amazon in a bid to capitalise on the ecommerce boom. But airlines unable to cash in on the sector seem to be struggling.  
Yesterday, ATSG announced an agreement to operate 10 Boeing 767-300 freighters for the Amazon Air network from the end of this year until 2029. The deal also includes the potential to add up ...

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]]> https://theloadstar.com/airlines-face-q4-capacity-balancing-act-as-they-weigh-up-ecommerce-potential/feed/ 0 271240 As Amazon fails to deliver and freighters return, ATSG sees profits tumble https://theloadstar.com/as-amazon-fails-to-deliver-and-freighters-return-atsg-sees-profits-tumble/ https://theloadstar.com/as-amazon-fails-to-deliver-and-freighters-return-atsg-sees-profits-tumble/#respond Wed, 28 Feb 2024 13:19:17 +0000 https://theloadstar.com/?p=266173 “ATSG has never faced such a rapid shift in customer demand as occurred during 2023,” said returning CEO Joe Hete on yesterday’s earnings call.
“Except for 2008,” he added, “when DHL’s decision to shift from direct competition in the US express market nearly left us without a customer for our entire air cargo fleet.” (A decision which clearly still rankles after more than 15 years.)
But it wasn’t a lesson necessarily learned. ...

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]]> https://theloadstar.com/as-amazon-fails-to-deliver-and-freighters-return-atsg-sees-profits-tumble/feed/ 0 266173 ATI pilots warn of strike action in threat to Amazon https://theloadstar.com/ati-pilots-warn-of-strike-action-in-threat-to-amazon/ https://theloadstar.com/ati-pilots-warn-of-strike-action-in-threat-to-amazon/#respond Fri, 09 Feb 2024 12:32:17 +0000 https://theloadstar.com/?p=264826 Air Transport International’s pilots are nearing strike action, and have requested mediation in a first step. Three-and-a-half years in, negotiations are still ongoing, according to pilots, but with no progress made and pilots are leaving. ATI, owned by ATSG – in which Amazon has a 20% stake – works for the giant etailer. Pilots can therefore compare their wages with those at other Amazon carriers, such as Hawaiian, which upped ...

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]]> https://theloadstar.com/ati-pilots-warn-of-strike-action-in-threat-to-amazon/feed/ 0 264826 Up in the air: after Lufthansa Cargo, feel the distress with ATSG https://theloadstar.com/up-in-the-air-after-lufthansa-cargo-feel-the-distress-with-atsg/ https://theloadstar.com/up-in-the-air-after-lufthansa-cargo-feel-the-distress-with-atsg/#respond Tue, 07 Nov 2023 12:42:14 +0000 https://theloadstar.com/?p=258717 Remember the public back and forth on Premium regarding ATSG earlier this year?
(Splendid.)
Me, opportunistically arguing in favour of a takeover* of ATSG; one market specialist instead pointing out it was too early for any such scenario – read: ‘Is ATSG really a target? Not so fast with the popcorn‘.
(*Its aircraft leasing and air cargo transportation appeal also derived from the buyout of – opportunistic – Atlas Air by private equity, ...

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]]> https://theloadstar.com/up-in-the-air-after-lufthansa-cargo-feel-the-distress-with-atsg/feed/ 0 258717