Air Transport Services Group posts quarter and full year 2016 results

Air Transport Services Group reported consolidated financial results for the quarter and full year ended December 31, 2016. Revenues increased 24% to US$768.9m for the year, and were up 22% to US$221.7m for the quarter. Excluding revenues from reimbursable airline expenses, revenues increased 18% for the year and 17% for the quarter. Principal contributors were ATSG’s aircraft leasing, maintenance, and logistics businesses. Adjusted EBITDA increased seven percent to US$211.8m for 2016. Fourth-quarter Adjusted EBITDA was US$56.4m, even with the prior year. Adjusted EBITDA and the other non-GAAP measures above do not exclude the effects of the work stoppage in the fourth quarter. Operating cash flow increased 10% in 2016 to US$193.1m. 2016 capital expenditures were US$264.5m.