ATSG Air Transport Services Group Inc.

Court Ruling Ends ABX Air Work Stoppage

Air Transport Services Group, Inc. (NASDAQ:ATSG) today said its ABX Air pilots will be returning to work beginning tonight following a ruling by U.S. District Court Judge Timothy S. Black that the striking pilots must resolve differences with ABX Air through arbitration and other provisions of their labor agreement.

The judge determined that disagreements with the pilots and their union, Airline Professionals Association of the International Brotherhood of Teamsters, Local 1224, over work scheduling issues constitute a “minor dispute” and must be resolved under terms of the labor agreement between ABX Air and the union.

John Starkovich, President of ABX Air, said that he expects ABX Air flight operations to resume effective immediately.

“I am pleased that the court continues to recognize the value to all parties from continuing to work out remaining differences in negotiations and through arbitration,” Starkovich said. “We intend to resume those discussions at the appropriate time and place in order to find solutions that are in the best interests of our customers, shareholders and employees.”

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 world's largest owner and operator of converted Boeing 767 freighter aircraft. Through its principal subsidiaries, including two airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services. ATSG's subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Airborne Maintenance and Engineering Services, Inc. For more information, please see www.atsginc.com.

EN
23/11/2016

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Air Transport Services Group Inc.

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vital Signs: Actionable charts

In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Booster Shots: Attractive bottom-fishing stocks

For investors looking for bottom-fishing candidates; stocks that are breaking downtrends, exhibiting ascending reaction lows, and showing stabilizing relative strength.

Air Transport Services Group, Inc.: Update to credit analysis followin...

Our credit view of this issuer reflects weakening operating performance and high customer concentration, offset by moderate leverage and adequate liquidity.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch