Investment Case

Strong sustainable cash flows through economic cycles. More than 90% of EBITDA is derived from long-term aircraft leases, revenues from governmental sources not subject to trade disruption or cyclical GDP, and multi-year contracts for our airline operating services from customers who offer their own express and e-commerce-driven regional air networks.

Investment Highlights

  • Unmatched mix of service for cargo and passenger markets
  • Increased Revenue diversification with blue-chip customers
  • Solid balance sheet and cash flows back value accretive capital allocation options
  • Strong sustainable cash flow from aircraft lease portfolio and DoD contracts.
  • Established feedstock supply and diversity of aircraft to support operations

Revenue By Segment

Revenue segment chart

Revenue By customer

Revenue customer chart

1♔.Segment revenue before elimination of internal revenues and revenue by customer percentages are calculated based on 9M2019 results.

2🎃.ATSG adopted Topic 606 revenue recognition rules on 1/1/2018. Revenues for 2015-2017 show revenues that would have been excluded if Topic 606 rule were in effect.