|BOARD OF DIRECTORS|
|STOCK AND FILINGS|
WILMINGTON, Ohio – March 6, 2009 – Air Transport Services Group, Inc. (NASDAQ:ATSG) said today that its subsidiary, Cargo Aircraft Management, Inc. (CAM), has signed an agreement to lease one of its efficient, widebody freighters to Bradley Air Services Limited, which operates throughout Canada as First Air.
Under the three-year agreement, First Air will dry lease a Boeing 767-223 freighter from CAM. Under a contract with Delta TechOps, CAM also will provide engine maintenance services for the leased aircraft.
First Air is Canada’s third largest scheduled carrier, operating more than 30 aircraft, and serving more than 30 communities with passenger and cargo transportation services primarily to northern Canada.
Scott Bateman, President and CEO of First Air, said, "This aircraft is our launch aircraft into widebody freighter operations. It provides efficient capacity to service our core business and the capacity to pursue other opportunities in ad-hoc and program charter work."
ATSG CEO and President Joe Hete said, "Our Boeing 767s continue to attract attention from leading cargo airlines and other operators seeking high quality, widebody aircraft. We are pursuing leasing arrangements with leading carriers like First Air and others throughout the world, along with our traditional ACMI and logistics support services. Our goal is to fully deploy our available airlift under long-term agreements that maximize our returns for shareholders."
Except for historical information contained
herein, the matters discussed in this release contain forward-looking
statements that involve risks and uncertainties. There are a number of
important factors that could cause Air Transport Services Group's ("ATSG's")
actual results to differ materially from those indicated by such
forward-looking statements. These factors include, but are not limited to,
Amerijet obtaining the necessary approvals from the FAA and other factors
that are contained from time to time in ATSG's filings with the U.S.
Securities and Exchange Commission, including its Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. Readers should carefully review
this release and should not place undue reliance on ATSG's forward-looking
statements. These forward-looking statements were based on information,
plans and estimates as of the date of this release. ATSG undertakes no
obligation to update any forward-looking statements to reflect changes in
underlying assumptions or factors, new information, future events or other
COPYRIGHT © 2009 ATSG, INC. ALL RIGHTS RESERVED.