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Air Transport Services Group, Inc. Message Board

  • eagledragon1 eagledragon1 Mar 11, 2013 11:41 AM Flag

    I Like It!

    WILMINGTON, Ohio--(BUSINESS WIRE)--

    Air Transport Services Group, Inc. (ATSG) announced today the completion of the merger of two of its airline subsidiaries, Air Transport International Inc. (ATI) and Capital Cargo International Airlines, Inc. (CCIA).

    The merger creates a single airline, ATI, with its headquarters in Little Rock, Ark., its operations center in Wilmington, Ohio, and its management team led by ATI President Dennis Manibusan. ATI currently operates 13 aircraft, including seven Boeing 767 freighters (five 767-200s and two 767-300s), three Boeing 757 freighters, and three DC-8 combi (combination passenger and main-deck cargo) aircraft. The three DC-8 combis are to be replaced soon with four Boeing 757 combis.

    The Air Carrier Certificate for CCIA has been surrendered to the Federal Aviation Administration, and its aircraft leases and other assets transferred to ATI, following that agency’s review and approval of the technical aspects of ATI’s airline merger plan. Further, the economic authority for CCIA has been surrendered to the U.S. Department of Transportation for cancellation.

    Joe Hete, President and CEO of ATSG, said completing the merger is an important milestone in an overall effort to make ATSG more profitable, and to better serve its customers.

    “This merger is the most significant of a number of steps we are taking throughout ATSG to better fit our airline overhead and operating cost structures to the airline operations we have today, and expect to add in the future,” Hete said. “Dennis Manibusan and his teams in each company have worked hard to complete this process, and I applaud their efforts. The larger scale and strength of the new combined ATI they have created will be better prepared to support ATI’s customers, including DHL and the U.S. military, and attract new business in the months to come.”

    Sentiment: Buy

 
ATSG
8.73-0.11(-1.24%)Jan 23 4:00 PMEST

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