Air Transport Services Group reported financial results as for the third quarter of 2012. Pre-tax third-quarter earnings for Cargo Aircraft Management (CAM) were $17.3m, up 7% from the year-earlier period. Revenues increased 6% to $39.2m. At the end of September, CAM owned 53 aircraft in service condition, including 21 leased to external customers and 32 leased to its ATSG airline affiliates. ATSG airline affiliates pay market rates on aircraft leased from CAM. ATSG’s airlines operate an additional six freighters (four Boeing 767-200s, and two 767-300s) under operating leases with third parties.
Third quarter revenues for ATSG’s airline operations were $102.9m, excluding fuel and other reimbursed expenses, down from $118.9m in the third quarter of 2011. The third-quarter pre-tax loss of $1.7m was down from a $2.8m pre-tax profit in the third quarter of 2011, excluding third-quarter 2011 impairment charges.
