ATSG’s Bank Credit Facility expands to support fleet growth

Air Transport Services Group has obtained lender commitments for a one-year extension through May 2022 of its secured credit facility, and an expansion of its revolver portion. The amendment to ATSG’s agreements with a consortium of banks, led by SunTrust, increases the revolving credit portion of the facility by US$120m, to US$545m. Additionally, the amendment preserves ATSG’s access to a US$100m accordion feature, subject to lender consent. Quint Turner, Chief Financial Officer of ATSG, said, “We appreciate the continued support of our bank consortium as we invest to meet strong domestic and international demand for our expanding fleet of midsize freighter aircraft. The additional credit, along with growing cash flows generated by ATSG’s businesses, provides us with ample resources to meet capital commitments we anticipate in the near term.”