AIR Transport Services Group (ATSG) is now operating all 10 of the additional Boeing 767 freighters that it previously said it would take on for Amazon, according to London's Air Cargo News.
The freighter lessor and operator announced in May that it would operate the additional ten 767 freighters for Amazon over a five-year period.
The operating deal, which runs until May 2029, also included the option to extend it for an additional five years. Amazon has the opportunity to take extra shares in atsg as part of the arrangement.
In a release announcing ATSG's third quarter 2024 results, chief executive Mike Berger said: ' I am delighted to report that the 10th aircraft entered operations this week.'
He noted, however, that third quarter results were affected by start-up costs for the Amazon aircraft.
The aircraft development with Amazon comes as ATSG reported a loss in the third quarter of the year as block hours decreased and costs increased.
The company, which is in the process of being bought by investment firm Stonepeak for US$3.1 billion, saw revenues decline by 9.9 per cent to $471.3 million.
Operating income was down 52.9 per cent to $21.7 million and the company swung to a net loss of $3.3 million compared with a profit of $17.2 million last year.
SeaNews Turkey
The freighter lessor and operator announced in May that it would operate the additional ten 767 freighters for Amazon over a five-year period.
The operating deal, which runs until May 2029, also included the option to extend it for an additional five years. Amazon has the opportunity to take extra shares in atsg as part of the arrangement.
In a release announcing ATSG's third quarter 2024 results, chief executive Mike Berger said: ' I am delighted to report that the 10th aircraft entered operations this week.'
He noted, however, that third quarter results were affected by start-up costs for the Amazon aircraft.
The aircraft development with Amazon comes as ATSG reported a loss in the third quarter of the year as block hours decreased and costs increased.
The company, which is in the process of being bought by investment firm Stonepeak for US$3.1 billion, saw revenues decline by 9.9 per cent to $471.3 million.
Operating income was down 52.9 per cent to $21.7 million and the company swung to a net loss of $3.3 million compared with a profit of $17.2 million last year.
SeaNews Turkey
