ATSG Subsidiaries to Convert Two B737-400 Aircraft for China-Based Airline
April 11 2017 - 3:05PM
Business Wire
Air Transport Services Group, Inc. (NASDAQ: ATSG) announced
today that its subsidiaries have acquired two Boeing 737-400
aircraft and will convert them to freighter configuration for lease
to China-based Okay Airways.
ATSG West Leasing Limited, an aircraft leasing company based in
Ireland and a wholly owned ATSG subsidiary, has acquired and will
lease the aircraft to Okay in late 2017 for terms of seven years.
PEMCO World Air Services, another wholly owned ATSG subsidiary,
will convert the 737-400s to freighters this summer at PEMCO’s
facilities at the Tampa International Airport.
Brad Heath, Managing Director of ATSG West Leasing, said, “We
are very pleased to acquire, convert and lease these aircraft into
the air express market in China. This initiative leverages the core
capabilities of PEMCO, ATSG West Leasing and of our strategic
partners in China.”
Okay Airways will operate the aircraft in support of its express
services for e-commerce and other companies in the domestic China
market. ATSG, Okay Airways, and Tianjin Dongjiang Investment
holdings, a Tianjin government affiliate, are establishing a joint
venture company to support the growing e-commerce market there.
Mike Andrews, PEMCO’s director of conversion programs, said,
“We’re excited to be working with our affiliate ATSG West Leasing
Limited and to be redelivering more PEMCO-converted aircraft into
the Chinese market.”
PEMCO and its affiliates continue to lead the narrow-body
freighter conversion market in China through conversions of 70
percent of China-based 737-300 and -400 freighters in service.
Through its subsidiaries, including PEMCO and ATSG West Leasing
Limited, ATSG provides aircraft leasing, air cargo lift, aircraft
maintenance services, cargo conversion and airport ground
services.
The 737-400 PEMCO-converted cargo aircraft features 11 pallet
positions, up to 48,000 pounds of payload, and 4,600 cubic feet of
total volume under PEMCO’s supplemental type certificate. The
optimized center of gravity of PEMCO’s B737-400 freighter yields
the highest possible usable payload and retains maximum
best-in-class fuel efficiency for unbeatable range and operating
economics. PEMCO’s 60-plus customers select the company’s
passenger-to-freighter conversion services for its superior cargo
door and system, superior operating functions, on-time turnaround,
and a track record of 2 million hours of safe, reliable
operation.
About Air Transport Services Group
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., including its division, PEMCO World Air Services,
Inc. For more information, please see www.atsginc.com.
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ATSG Inc.Quint O. Turner, 937-366-2303Chief Financial
Officer
Air Transport Services (NASDAQ:ATSG)
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