Key Developments For Air Transport Services Group, Inc.
Air Transport Services Group, Inc. (ATSG.O) (Nasdaq)
Air Transport Services Group Inc.'s ABX Air Pilots Ratify Collective Bargaining Agreement
ABX Air, Inc., a wholly owned subsidiary of Air Transport Services Group Inc. announced that its employees represented by Teamsters Local 1224 have voted in favor of a new Collective Bargaining Agreement (CBA) with ABX Air. The amendments provide for more market-competitive wages, benefits and work rules than under the current agreement. It also provides furloughed and retired members with substantial severance and post-retirement benefits. This new CBA is contingent upon the signing of a new commercial agreement between ABX Air and DHL that provides for DHL`s continued use of ABX Air aircraft and flight crews in its U.S. express network. ABX Air is discussing such an agreement with DHL to replace the seven-year ACMI Agreement that extends to August 15, 2010, and which will not be renewed.
Air Transport Services Group Inc. To Lease 767 Freighter To First Air
Air Transport Services Group Inc. announced 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 will also provide engine maintenance services for the leased aircraft.
Air Transport Services Group Inc. Unit In Pact To Lease Up To Five 767-200 Freighters
Air Transport Services Group Inc. announced that its subsidiary, Cargo Aircraft Management, Inc. (CAM), has signed an option agreement under which Amerijet International, Inc., of Ft. Lauderdale, Fla., may lease up to five Boeing 767-200 freighters from CAM. Under the agreement, Amerijet has exercised options for its first two freighters under seven-year dry-lease agreements. Amerijet is expected to begin operating those two aircraft following FAA approval around mid-year.
Air Transport Services Group Inc. Warns Of 6,000 Layoffs-Reuters
Reuters reported that Air Transport Services Group Inc. said its main air cargo operator ABX Air could shed 6,000 or more jobs, about 75% of the unit's total staff, if German parcel carrier DHL stops using its services, as it plans to do. DHL, owned by German mail group Deutsche Post AG, plans to use rival United Parcel Service Inc instead, as part of a $2 billion restructuring of its loss-making business in the United States. In May, DHL said it would terminate the services of 55 DC-9 aircraft that ABX is operating on behalf of DHL over the course of the next 12 months. Air Transport Services said about 6,000 employees working in Wilmington, Ohio, will lose their jobs as a result of DHL's plan if it is fully implemented. ABX is Air Transport's operating unit, with about 8,000 total staff.
Air Transport Services Group Inc.'s ABX Air Cuts 200 Jobs-Reuters
Reuters reported that ABX Air, a unit of Air Transport Services Group Inc., said it would cut 200 jobs, or about 2.5% of its staff. ABX said it had already been through a period of voluntary reductions, but will start to cut about 200 further employees next week, with all leaving their jobs within two months. ABX said further layoffs will be necessary as it reduces its fleet.
