Air Transport Services Group (ATSG) has seen revenues increase 15 per cent to $181.6 million for the fourth quarter of 2015, and were up 5 per cent to $619.3 million for the year.
The aircraft leasing firm and air cargo transportation provider reported its consolidated financial results for the year 31 December 2015.
Revenues for Cargo Aircraft Management, ATSG’s aircraft leasing business, grew seven per cent year-over-year.
Pre-tax earnings from continuing operations increased $9.4 million to $20.5 million for the quarter and to $62.6 million for 2015.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for Q4 increased by 12 per cent to $56.8 million and for 2015 EBITDA grew by 10 per cent to $198.2 million.
ATSG president and chief executive officer, Joe Hete says: “2015 was an outstanding year for ATSG, as our principal mid-size freighter leasing and operating businesses made great strides toward expanding and extending customer relationships into new markets, all while generating record cash flow on $30 million in revenue growth. During the year, we also strengthened our balance sheet and repurchased 1 million of our common shares.
“Continued strong demand for our freighters in 2015 grew our externally leased portfolio of Boeing 767 aircraft by six to 30 aircraft at year-end, and our airlines finished the year with an exceptional holiday-season performance, with our fleet fully deployed.”
Hete adds: “Demand in our mid-size freighter market niche remains strong. We expect to maintain our focus on customer service and invest aggressively to capture and expand our growth opportunities, while maintaining our commitment to maximise shareholder returns.”