Air Transport Services Group (ATSG) has reported that its customer revenues stood at $334.6 million in its Q2 2019 financial results, up 64% from $131 million experienced in the same period last year.
The increase is said to come from Omni Air International, which ATSG acquired in November 2018, as the largest contributor to the year-over-year revenue gain.
ATSG's second-quarter 2019 after-tax earnings stood at $33.6 million an increase from its second-quarter 2018 after-tax earnings, which stood at $11.1 million.
Thegroup's first-half capital spending was $216.8 million, up 44%. Capital expenditures in the first half of 2019 included $159 million for the purchase of seven Boeing 767 aircraft, including three in the second quarter, and for freighter modification costs.
Adjusted EBITDA from continuing operations (non-GAAP) were $104.8 million, up 50%, an increase of $35 million from the same period last year.
Contributions from Omni Air and from the increase in externally leased 767 freighters since June 2018 drove the majority of the Adjusted EBITDA increase.
Joe Hete, President and Chief Executive Officer of ATSG, said: "In December 2018, ATSG agreed to lease ten more Boeing 767-300 converted freighters to Amazon, anticipating five deliveries in each of the next two years.
"At Amazon's request, we now expect to deliver them six 767 freighters this year, and the remaining four in 2020. The first of those six was delivered in June, the second in early July, and the third is due later this month. At the same time, we have agreed to lease four 767 freighters to United Parcel Service this year, starting in September."