ATSG Air Transport Services Group Inc.

ABX Air Taking Steps to End Work Stoppage

Air Transport Services Group, Inc. (NASDAQ:ATSG) today said one of its two airline subsidiaries, ABX Air, Inc., is taking multiple steps to resolve and end an illegal work stoppage that began today by its pilots represented by the Airline Professionals Association of the International Brotherhood of Teamsters, Local 1224.

“We will seek a court order later today to restore the status quo operating environment, even as we continue discussions with union representatives about specific issues of concern,” ABX Air President John Starkovich said today. “We expect the court will uphold our position that the actions taken by the union to refuse work assignments is not legal, and the issues involved constitute a minor dispute to be resolved via arbitration under terms of our current labor agreements.”

At the same time, Starkovich said, “ABX Air is notifying its customers and other affected parties about temporary interruptions in ABX’s flight operations, allowing them to adjust their networks until pilots return to work and normal flight operations resume. We stand ready to assist our customers in any way we can to minimize any impact on their own operations during this critical holiday period.”

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
22/11/2016

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