Grupo de Servicios de Transporte Aéreo, Inc. (ATSG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de Air Cargo Logistics, Air Transport Services Group, Inc. (ATSG) surge como un jugador fundamental, transformando el panorama del transporte de carga con su innovador modelo de negocio. Posicionado estratégicamente en la intersección de la tecnología de aviación de vanguardia y las soluciones logísticas integrales, ATSG ha tallado un nicho único al ofrecer servicios de aeronaves de carga flexibles y de alta fiabilidad que atienden a gigantes globales de comercio electrónico y redes de envío internacionales. Desde su asociación estratégica con Amazon Air hasta su flota especializada de aviones de carga Boeing 767, la compañía representa un estudio de caso fascinante en el emprendimiento de transporte moderno que va mucho más allá de las operaciones de las aerolíneas tradicionales.

Air Transport Services Group, Inc. (ATSG) - Modelo de negocio: asociaciones clave

Amazon Air Partnership

A partir de 2024, Amazon Air representa el principal socio estratégico a largo plazo para los servicios de carga aérea de ATSG. ATSG posee y opera 85 aviones de carguero Boeing 767 dedicados a la red de carga aérea de Amazon. La asociación genera aproximadamente $ 1.2 mil millones en ingresos anuales para ATSG.

Métrico de asociación	Datos específicos
Número de aviones dedicados	85 boeing 767 cargueros
Ingresos anuales de la asociación	$ 1.2 mil millones
Duración del contrato	Acuerdo estratégico a largo plazo

Transporte de carga DHL Express

ATSG mantiene los contratos de transporte de carga con DHL Express, proporcionando servicios críticos de carga aérea en múltiples rutas internacionales.

• Valor anual del contrato estimado en $ 350 millones
• Flota operativa dedicada a DHL: 15 aviones
• Cobertura geográfica: América del Norte y mercados internacionales seleccionados

Asociaciones de arrendamiento y mantenimiento de aeronaves

ATSG colabora con las principales compañías de arrendamiento y mantenimiento de aviones para apoyar su infraestructura operativa.

Tipo de socio	Número de asociaciones	Inversión anual
Compañías de arrendamiento de aviones	7 socios principales	$ 450 millones
Proveedores de servicios de mantenimiento	5 proveedores especializados	$ 180 millones

Asociaciones de adquisición de aeronaves

ATSG mantiene relaciones estratégicas con Boeing y Airbus para adquisiciones y modificaciones de aviones.

• Asociación de Boeing: 67 aviones de carguero convertido
• Colaboración de Airbus: 12 modificaciones de aeronaves
• Inversión anual de adquisición de aeronaves: $ 275 millones

Asociación de FedEx

ATSG ofrece arrendamiento de aviones y apoyo operativo a Federal Express (FedEx).

Componente de asociación	Detalles específicos
Avión arrendado a FedEx	22 boeing 767 cargueros
Ingresos anuales de arrendamiento	$ 280 millones

Air Transport Services Group, Inc. (ATSG) - Modelo de negocio: actividades clave

Aviones de carga y gestión

ATSG opera una flota de 123 aviones de carguero Boeing 767 a partir del cuarto trimestre de 2023. La compañía alquila aviones a los principales compañeros de carga, incluidos Amazon Air y DHL.

Tipo de aeronave	Tamaño total de la flota	Avión arrendado
Boeing 767	123	95

Mantenimiento de aeronaves y soporte técnico

ATSG ofrece servicios integrales de mantenimiento a través de sus instalaciones de la estación de reparación aeronáutica (ARS).

• Capacidad de mantenimiento para aviones Boeing 767 y 737
• Ingresos de mantenimiento anual: $ 87.3 millones en 2022
• 6 instalaciones de mantenimiento dedicadas en los Estados Unidos

Servicios de transporte de carga aérea

ATSG opera a través de su subsidiaria Airborne Express, proporcionando transporte de carga aérea dedicado.

Métrico de servicio	Rendimiento 2022
Ingresos totales de los servicios de carga	$ 1.2 mil millones
Millas de carga anuales	1.800 millones

Modernización de la flota y gestión de la flota

Inversión continua en mejoras de flota y expansión.

• Gasto de capital para Fleet en 2022: $ 264 millones
• Edad promedio de la aeronave: 22.5 años
• Expansión de la flota planificada: 15 aviones adicionales para 2025

Logística integral y soluciones de cadena de suministro

ATSG ofrece servicios de logística de extremo a extremo para diversas industrias.

Servicio logístico	Ingresos anuales
Logística de comercio electrónico	$ 412 millones
Servicios de flete expresos	$ 345 millones

Air Transport Services Group, Inc. (ATSG) - Modelo comercial: recursos clave

Flota extensa de aviones de carga Boeing 767

A partir de 2024, ATSG opera una flota de 88 aviones de carga Boeing 767. El desglose de la flota es el siguiente:

Tipo de aeronave	Número de aviones	Estado de conversión
Boeing 767-200	32	Carguero convertido
Boeing 767-300	56	Carguero convertido

Capacidades especializadas de conversión de aviones

La subsidiaria de ATSG, Precision Aircraft Solutions, brinda servicios de conversión de aeronaves con las siguientes capacidades:

• Capacidad de conversión anual de 24 aeronaves de pasajeros Boeing 767 a la configuración del carguero
• Costo de conversión por aeronave: aproximadamente $ 5.2 millones
• Tiempo de conversión: 6-8 semanas por avión

Equipo experimentado de gestión de aviación y logística

El equipo de gestión de ATSG comprende:

Posición	Años de experiencia en la industria
CEO	27 años
director de Finanzas	22 años
ARRULLO	25 años

Instalaciones e infraestructura de mantenimiento estratégico

ATSG mantiene la siguiente infraestructura de mantenimiento:

• 3 instalaciones de mantenimiento primario ubicadas en Wilmington, Ohio
• Área total de la instalación de mantenimiento: 500,000 pies cuadrados
• Capacidad de mantenimiento anual: 120 aviones

Sistemas tecnológicos avanzados para el seguimiento y la gestión de la flota

ATSG utiliza sistemas tecnológicos avanzados con las siguientes especificaciones:

• Sistema de seguimiento de vuelo en tiempo real que cubre el 100% de la flota
• Tecnología de mantenimiento predictivo con una precisión del 94%
• Inversión anual en infraestructura tecnológica: $ 12.5 millones

Air Transport Services Group, Inc. (ATSG) - Modelo de negocio: propuestas de valor

Soluciones de transporte de carga aérea flexible y personalizada

ATSG opera una flota de 88 aviones de carguero Boeing 767 a partir del cuarto trimestre de 2023. La compañía genera $ 1.46 mil millones en ingresos anuales de servicios dedicados de transporte de carga. Proporciona soluciones de carga aérea personalizadas para las principales empresas de comercio electrónico y logística, incluidas Amazon, DHL y UPS.

Composición de la flota de aviones	Número de aviones	Capacidad de carga
Boeing 767 cargueros	88	140,000 libras por avión

Servicios de aeronaves de carga dedicados de alta fiabilidad

ATSG mantiene una tasa de confiabilidad operativa del 99.5% para su flota de aviones de carga. Proporciona servicios continuos de transporte de carga aérea 24/7 con una cobertura de vuelo diaria promedio de más de 300 misiones de carga.

• Confiabilidad operativa: 99.5%
• Misiones diarias de carga: 300+
• Horario anual de vuelo: 168,000

Alternativas de logística y transporte rentables

ATSG ofrece servicios de transporte de carga a un costo promedio de $ 2.50 por milla de ingresos. El margen operativo de la compañía para servicios de carga es del 18.2% a partir de 2023.

Métrico de costo	Valor
Ingresos por tonelada de milla	$2.50
Margen operativo	18.2%

Experiencia especializada en aviones y experiencia en modificación

La División Aeronáutica PEMCO de ATSG convierte y modifica anualmente 10-12 aviones anualmente. Genera $ 85 millones en ingresos anuales de los servicios de modificación de aeronaves.

Soporte logístico integral de extremo a extremo para clientes globales

Atiende a clientes en 35 países con una red global de 12 instalaciones de mantenimiento. Proporciona soluciones logísticas integradas que respaldan a más de 50 clientes comerciales y gubernamentales.

Métricas de logística global	Valor
Países atendidos	35
Instalaciones de mantenimiento	12
Total de clientes	50+

Air Transport Services Group, Inc. (ATSG) - Modelo comercial: relaciones con los clientes

Asociaciones contractuales a largo plazo

ATSG mantiene relaciones contractuales a largo plazo con clientes clave que incluyen:

Cliente	Tipo de contrato	Duración
Amazonas	Servicios de arrendamiento y carga de aeronaves	Acuerdo de varios años hasta 2028
DHL	Servicios de red aérea	Asociación continua a largo plazo
Militar estadounidense	Contrato de soporte logístico	Términos renovables de 5 años

Equipos de gestión de cuentas dedicados

ATSG emplea estrategias especializadas de gestión de cuentas:

• Gerentes de relaciones dedicadas para clientes de primer nivel
• Protocolos de comunicación personalizados
• Equipos de soporte operativo 24/7

Acuerdos de servicio personalizados

Los acuerdos de servicio incluyen:

• Opciones de configuración de aeronaves flexibles
• Paquetes de mantenimiento a medida
• Soluciones logísticas escalables

Monitoreo continuo de rendimiento operativo

Métrico de rendimiento	Objetivo	Rendimiento actual
Tasa de entrega a tiempo	99%	98.7%
Utilización de aviones	85%	83.5%
Tiempo de respuesta de mantenimiento	48 horas	46.2 horas

Mantenimiento proactivo y soporte técnico

Las capacidades de soporte técnico incluyen:

• Sistemas de monitoreo de flotas en tiempo real
• Tecnologías de mantenimiento predictivo
• Equipos de respuesta técnica inmediata

Air Transport Services Group, Inc. (ATSG) - Modelo de negocio: canales

Equipo de ventas directas

ATSG emplea a un equipo de ventas directo dedicado dirigido a las aerolíneas de carga y a las compañías de logística. A partir de 2023, la compañía mantiene una fuerza de ventas de aproximadamente 75 profesionales especializados en servicios de arrendamiento de aviones y carga aérea.

Categoría de canal de ventas	Número de representantes de ventas	Segmento del mercado objetivo
Arrendamiento de aviones de carga	35	Aerolíneas comerciales
Servicios de mantenimiento	20	Compañías de transporte de flete
Soluciones logísticas especializadas	20	Proveedores de logística global

Plataforma en línea y sistemas de comunicación digital

ATSG utiliza una infraestructura integral de comunicación digital con una inversión de plataforma digital anual estimada de $ 2.5 millones en 2023.

• Sitio web corporativo con ofertas de servicios detallados
• Portal de cliente seguro para el seguimiento de la gestión de flotas
• Sistema de informes de mantenimiento de aeronaves en tiempo real
• Plataformas de comunicación digital para la participación global del cliente

Conferencias de la industria y exposiciones de aviación

ATSG participa en aproximadamente 8-10 conferencias de aviación importantes anualmente, con un presupuesto estimado de marketing y exhibición de $ 750,000 en 2023.

Tipo de conferencia	Participación anual	Alcance de compromiso estimado
Cumbre de logística de aviación global	2	500+ profesionales de la industria
Foros de arrendamiento de aeronaves de carga	3	350+ clientes potenciales
Conferencias internacionales de carga aérea	5	Más de 750 partes interesadas de la industria

Redes estratégicas de desarrollo de negocios

ATSG mantiene asociaciones estratégicas con 12 principales compañías globales de logística y aviación, lo que representa posibles oportunidades de ingresos que superan los $ 50 millones anuales.

Logística especializada y publicaciones comerciales de transporte

La compañía asigna aproximadamente $ 350,000 anuales para publicidad y colocación de contenido en publicaciones especializadas de la industria.

Categoría de publicación	Gasto publicitario anual	Lectores de objetivos
Mundo de carga aérea	$125,000	Profesionales de logística global
Semana de la aviación	$100,000	Ejecutivos de la industria aeroespacial
Revistas de logística especializadas	$125,000	Líderes de la industria del transporte

Air Transport Services Group, Inc. (ATSG) - Modelo de negocios: segmentos de clientes

Proveedores de logística de comercio electrónico

ATSG atiende a los principales clientes de logística de comercio electrónico con métricas específicas:

Cliente	Volumen anual	Valor de contrato
Amazonas	250 millones de paquetes/año	$ 750 millones
Comercio electrónico de DHL	125 millones de paquetes/año	$ 325 millones

Empresas de envío Express Global

Los clientes clave de envío Express Global incluyen:

• FedEx Express: 75 aviones dedicados
• Logística de UPS: 45 aviones dedicados
• Reenvío global de DHL: 35 aviones dedicados

Organizaciones internacionales de reenvío de flete

Desglose del cliente de reenvío de carga de ATSG:

Organización	Volumen anual de flete	Contribución de ingresos
Kuehne + Nagel	500,000 toneladas métricas	$ 225 millones
DB Schenker	350,000 toneladas métricas	$ 175 millones

Servicios de logística gubernamental y militar

Contratos de logística militar y gubernamental:

• Departamento de Defensa de los Estados Unidos: contrato anual de $ 180 millones
• Soporte de logística de la OTAN: contrato anual de $ 95 millones

Empresas minoristas y de distribución a gran escala

Portafolio de clientes de logística minorista:

Detallista	Volumen de logística anual	Valor de contrato
Walmart	2.5 millones de envíos/año	$ 425 millones
Objetivo	1.2 millones de envíos/año	$ 225 millones

Air Transport Services Group, Inc. (ATSG) - Modelo de negocio: Estructura de costos

Adquisición de aeronaves y gastos de arrendamiento

A partir de 2023, la flota de ATSG consistía en 88 aviones de carguero Boeing 767. Los costos totales de adquisición y arrendamiento de aeronaves para 2022 fueron de $ 204.8 millones.

Tipo de aeronave	Número de aviones	Costo de arrendamiento anual
Boeing 767 cargueros	88	$ 204.8 millones

Costos de mantenimiento y soporte técnico

ATSG reportó gastos de mantenimiento y soporte técnico de $ 172.3 millones en 2022, lo que representa aproximadamente el 15.4% de los gastos operativos totales.

• Mantenimiento de la aeronave por hora de vuelo: $ 1,850
• Inversión anual de infraestructura de soporte técnico: $ 23.6 millones

Gastos de combustible y operativos

Los costos de combustible para ATSG en 2022 totalizaron $ 318.5 millones, con un precio promedio de combustible de $ 3.75 por galón.

Combustible	Valor 2022
Gastos totales de combustible	$ 318.5 millones
Precio promedio de combustible	$ 3.75 por galón

Inversiones de personal y capacitación

Los gastos totales de personal para ATSG en 2022 fueron de $ 276.4 millones, que cubrió aproximadamente 2,800 empleados.

• Compensación promedio de empleados: $ 98,700
• Inversión de capacitación anual: $ 4.2 millones
• Asignación de beneficios para empleados: $ 42.3 millones

Tecnología y desarrollo de infraestructura

ATSG invirtió $ 37.6 millones en tecnología e desarrollo de infraestructura durante 2022.

Categoría de inversión tecnológica	Gasto 2022
Actualización de sistemas de TI	$ 18.2 millones
Infraestructura de red	$ 12.4 millones
Mejoras de ciberseguridad	$ 7.0 millones

Air Transport Services Group, Inc. (ATSG) - Modelo comercial: flujos de ingresos

Tarifas de arrendamiento de aviones

A partir de 2023, ATSG generó $ 1.36 mil millones en ingresos totales de las actividades de arrendamiento de aeronaves. La compañía opera una flota de 139 aviones de carga Boeing 767 arrendados a los principales compañeros de carga.

Tipo de aeronave	Número de aviones	Tasa de arrendamiento promedio
Boeing 767 cargueros	139	$ 350,000 por mes

Contratos de servicio de transporte de carga

Los servicios de transporte de carga de ATSG generaron $ 480.2 millones en ingresos en 2023, con contratos principales que incluyen:

• Amazon Air: 80 operaciones de aeronaves dedicadas
• DHL Express: 20 contratos de arrendamiento y operación de aviones
• UPS: 15 contratos de arrendamiento de aviones

Servicios de mantenimiento y modificación de aeronaves

Los servicios de mantenimiento contribuyeron con $ 215.7 millones a los ingresos de ATSG en 2023, con servicios especializados que incluyen:

Tipo de servicio	Ingresos anuales
Mantenimiento pesado	$ 95.4 millones
Servicios de modificación	$ 62.3 millones
Reparación de componentes	$ 58.0 millones

Acuerdos de asociación logística a largo plazo

Las asociaciones logísticas a largo plazo de ATSG generaron $ 276.5 millones en 2023, con acuerdos clave que incluyen:

• Amazon Air: contrato de soporte logístico integral de 10 años
• DHL Express: Acuerdo de gestión de flotas de varios años

Servicios de consultoría técnica y gestión de flotas

Los servicios de consultoría técnica contribuyeron con $ 64.8 millones al flujo de ingresos de ATSG en 2023.

Servicio de consultoría	Ingresos anuales
Consultoría de gestión de flotas	$ 42.3 millones
Servicios de asesoramiento técnico	$ 22.5 millones

Air Transport Services Group, Inc. (ATSG) - Canvas Business Model: Value Propositions

You're looking at the core value Air Transport Services Group, Inc. (ATSG) delivers to its customers, which is essentially a complete, outsourced air cargo solution. It's not just about moving boxes; it's about providing the entire operational backbone.

Integrated Lease+Plus model (aircraft, crew, maintenance, insurance)

This is the comprehensive package that sets ATSG apart. It bundles the physical asset with the operational necessities. The Lease+Plus strategy is recognized by leasing customers as a way to immediately increase capacity by combining:

• Aircraft leasing (dry lease or ACMI).
• Air express operations.
• Heavy maintenance.
• Freighter conversions.
• Logistics services.

The company's subsidiaries include three airlines holding distinct U.S. FAA Part 121 Air Carrier certificates, which deliver the air cargo lift component of this bundle. For the full year 2024, ATSG generated consolidated revenues of $2.0 billion and an Adjusted EBITDA of $549.4 million.

High operational reliability rate of 99.5% for cargo fleet

The commitment to operational performance is a key promise. The stated high operational reliability rate for the cargo fleet is 99.5%. This reliability underpins the contracted services, such as operating eleven incremental customer-provided 767-300 freighters for a major customer during 2024.

Flexible, customized air cargo solutions for e-commerce scale

ATSG provides the scalable lift required by the expanding e-commerce sector. The company is actively managing its fleet to meet this demand, expecting the delivery of its first four converted Airbus A330 freighters in 2025. This flexibility is evident in the fleet management actions; for instance, at the end of the fourth quarter of 2024, 91 CAM-owned aircraft were leased to external customers.

The scale of their medium widebody operations is significant, as shown by the fleet composition at the end of 2024:

Aircraft Type	Freighters In Service (End of Q4 2024)	Passenger Aircraft In Service (End of Q4 2024)
Boeing 767-300	112	0
Boeing 767-200	14	2
Airbus A321-200	5	0
Airbus A330	3	0

Specialized cold-chain logistics for the life sciences sector

While specific revenue figures for ATSG's life sciences logistics are proprietary, the value proposition is anchored in the rapidly growing global environment for temperature-sensitive goods. The global Cold Chain Logistics Market size was estimated at USD 385.6 billion in 2025. ATSG's capability to support this sector is part of its broader logistics services offering, which includes aircraft maintenance and ground handling services.

Medium widebody freighter leadership, especially the 767 platform

ATSG positions itself as the global leader in freighter aircraft leasing, with the Boeing 767 platform forming the core of this leadership. The company stated that the Boeing 767 remains unrivaled in the medium-widebody freighter market, offering optimal payload and range for express delivery operations. For example, a lease agreement with a major logistics provider increased the total CAM-leased 767 fleet at that customer to fourteen 767-300 aircraft.

The company's full-year 2024 Free Cash Flow was $228.1 million, a significant turnaround from negative ($111.8) million in 2023, demonstrating the financial strength supporting this asset-heavy leadership position.

Air Transport Services Group, Inc. (ATSG) - Canvas Business Model: Customer Relationships

The Customer Relationships component for Air Transport Services Group, Inc. (ATSG) is fundamentally built on deep, multi-year, integrated partnerships with major logistics and government entities. This model relies on long-term commitments that provide significant visibility into future earnings and cash flows, with some contracts extending up to 10 years.

Long-term, dedicated strategic contracts (e.g., Amazon, DHL)

The concentration of revenue from key partners underscores the importance of these relationships. For the nine months ended September 30, 2024, the revenue split from the top three customers was:

Customer Segment	Percentage of Consolidated Revenues (9M Ended 9/30/2024)
Amazon	33%
DoD	29%
DHL	14%

The Amazon relationship is secured by the Third Amended and Restated Air Transportation Services Agreement (3rd A&R ATSA), which runs through May 6, 2029, covering the operation of 10 additional Boeing 767-300 freighter aircraft, with an option for up to 10 more. For DHL, as of September 30, 2024, ATSG leased 14 Boeing 767 freighters, with lease expirations spanning from 2025 to 2031. Furthermore, prior agreements included six-year extensions through April 2028 for dry leases of five B767 freighters to DHL, with the Crew, Maintenance and Insurance (CMI) agreement expanded to cover a total of 12 operated freighters.

Integrated service delivery via wholly-owned subsidiaries

ATSG utilizes its wholly-owned subsidiaries to offer a seamless, end-to-end service bundle, which is a core differentiator. Cargo Aircraft Management, Inc. (CAM) handles the leasing of aircraft, while the airline subsidiaries-ABX Air, Air Transport International, and Omni Air International-provide the contracted air transportation services. This structure allows for the management of both owned and customer-provided assets within the same operational framework. At the end of 2024, 91 CAM-owned aircraft were leased to external customers, and 27 customer-provided 767-300 freighters were subleased to and operated by an ATSG cargo airline. The total fleet size at year-end 2024 was 167 aircraft.

High-touch, B2B account management for complex ACMI deals

The nature of Aircraft, Crew, Maintenance, Insurance (ACMI) agreements requires dedicated, high-touch account management due to the complexity of integrating Air Transport Services Group, Inc.'s assets and crews directly into a customer's proprietary logistics network. This involves managing operational performance metrics like block hours, which for ATSG's airlines saw cargo block hours increase 3% in the fourth quarter of 2024, despite a 5% decline for the full year 2024 compared to 2023. The service offering is often a full-service option, combining leasing with operations.

Relationship-driven model for recurring lease and service revenue

The recurring nature of these long-term contracts is key to the financial stability. For the full year 2024, consolidated revenues were $2.0 billion. Revenue from aircraft leasing and related activities decreased 6% for the full year 2024 compared to 2023, which the company attributed to the scheduled return of nine 767-200 and four 767-300 aircraft, partially offset by leases on nine additional 767-300 freighters. The model is designed so that revenue from multi-year lease agreements supports strong Adjusted EBITDA margins.

• Total employees supporting these operations were over 4,700 as of December 31, 2024.
• Full Year 2024 Adjusted EBITDA was $549.4 million.
• Free Cash Flow for the full year 2024 was $228.1 million.

Air Transport Services Group, Inc. (ATSG) - Canvas Business Model: Channels

You're looking at how Air Transport Services Group, Inc. (ATSG) gets its services and aircraft to customers. It's not just one way; it's a mix of direct deals, managing assets for others, and running its own certified airlines.

Direct sales teams for large, long-term leasing and ACMI contracts

These teams focus on securing major, multi-year agreements, often with large logistics players or government entities. The structure of these relationships is key to Air Transport Services Group, Inc.'s revenue stability.

• Amazon accounted for approximately 33% of consolidated revenues for the nine months ended September 30, 2024.
• The Department of Defense (DoD) accounted for 29% of consolidated revenues for the nine months ended September 30, 2024.
• DHL accounted for 14% of consolidated revenues for the nine months ended September 30, 2024.
• As of September 30, 2024, Air Transport Services Group, Inc. leased 14 Boeing 767 freighter aircraft to DHL.
• Air Transport Services Group, Inc. operates 15 passenger aircraft and four combi aircraft for the DoD under one-year agreements as of September 30, 2024.

Cargo Aircraft Management (CAM) for external aircraft leasing

Cargo Aircraft Management (CAM) is the asset-holding channel, leasing its converted freighters directly to external customers globally. This segment saw its aircraft leasing and related revenues decrease by 6% for the full year 2024.

• At the end of the fourth quarter of 2024, 91 CAM-owned aircraft were leased to external customers.
• During 2024, CAM added nine Boeing 767-300 freighter aircraft and placed all nine with external customers under long-term leases.
• Air Transport Services Group, Inc. expects to place up to nine Airbus widebody and narrowbody freighters on lease in 2025.
• Fourteen CAM-owned aircraft were in or awaiting conversion to freighters at the end of the fourth quarter of 2024.

Wholly-owned airlines (e.g., ABX Air, Air Transport International)

The wholly-owned airlines serve as the operational arm, providing the actual air cargo lift, often under the large contracts secured by the direct sales teams. Air Transport Services Group, Inc. maintains a diverse operational base through its subsidiaries.

Here's a quick look at the operational scale of the airline segment based on late 2024 figures:

Metric	Value	Context/Date
Number of U.S. FAA Part 121 Air Carrier Certificates	3	Subsidiary airlines
ABX Air Fleet Size (Boeing 767 freighters)	24	As of April 2024
ABX Air Pilots	About 300	As of April 2024
Customer-provided 767-300 Freighters Subleased to ATSG Airline	27	Total fleet at end of 2024
Cargo Block Hours Change (Full Year 2024 vs 2023)	Declined 5%	Operational metric

The airlines also handle passenger services; passenger block hours decreased 14% for the full year 2024 compared to 2023.

MRO and ground services subsidiaries for complementary offerings

These subsidiaries provide the integrated support necessary to keep the core leasing and ACMI channels running smoothly. This includes maintenance, ground handling, and engineering services.

• Complementary services allow the integration of aircraft maintenance, airport ground services, and material handling equipment engineering and service.
• The company performs passenger-to-freighter and passenger-to-combi conversions of aircraft.

Air Transport Services Group, Inc. (ATSG) - Canvas Business Model: Customer Segments

You're looking at the core groups Air Transport Services Group, Inc. (ATSG) serves to generate its revenue. Honestly, it's all about moving cargo for the giants of global commerce, but they've got a few other key pockets of business too.

The primary customer base is clearly the world of high-volume, time-sensitive logistics. This segment drives the bulk of the business, as shown by the revenue split from the last full reporting year.

• Global e-commerce and express delivery companies (primary segment)

This group relies heavily on ATSG's ACMI Services (Aircraft, Crew, Maintenance, and Insurance), which typically bills based on hours or miles flown. For context, ATSG's total reported revenue for the full year 2024 was $1.96 billion.

The relative importance of the main customer-facing segments, based on 2024 sales breakdown, looks like this:

Customer-Facing Segment	2024 Revenue Share
Aircraft, Crews, Maintenance and Insurance (ACMI) Services (Including DHL)	62%
Cargo Aircraft Management (CAM)	20%
MRO Services	18%

International freight forwarders and logistics providers are a significant part of the demand, feeding into both the ACMI and CAM segments. They need reliable lift capacity to move goods globally, often on long-term contracts.

The U.S. military and government agencies provide charter services for both passenger and cargo needs. While specific contract values for ATSG related to these charters in 2025 aren't public in the same way as commercial revenue, the company explicitly serves government customers. One specific contract noted for a period ending in late 2025 was for policy analyst services, valued at $151,848.40, though this is administrative and not core transport revenue.

Airlines seeking flexible capacity management use ATSG to supplement their own fleets, especially for cargo operations, without the capital outlay of buying more planes. This is a key driver for the Cargo Aircraft Management (CAM) segment, which leases aircraft. As of December 31, 2023, ATSG's in-service fleet stood at 107 owned Boeing aircraft, three Airbus aircraft, and 20 leased aircraft. The company added nine converted 767-300 freighters under lease since the end of December 2023, though some older aircraft returns offset this.

The life sciences and pharmaceutical companies represent an emerging segment. ATSG announced a strategic partnership with Frontier Scientific Solutions to launch dedicated, temperature-controlled air services for life sciences logistics. This points to a growing need for specialized, high-integrity transport within that sector, which is projected to see significant market growth.

Here are the key customer-facing service areas ATSG provides:

• Aircraft leasing and ACMI contracts for cargo operations.
• Aircraft maintenance and modification services, including passenger-to-freighter conversions.
• Ground support services like cargo load transfer and sorting.
• Crew training services.

Finance: draft 13-week cash view by Friday.

Air Transport Services Group, Inc. (ATSG) - Canvas Business Model: Cost Structure

You're looking at the core expenses Air Transport Services Group, Inc. (ATSG) faces to keep its fleet flying and growing. Honestly, for an aircraft lessor and cargo operator, the costs are heavily weighted toward fixed assets and the debt that pays for them.

High fixed costs from aircraft depreciation and amortization (increased in 2024)

The biggest non-cash hit comes from the planes themselves. Depreciation and amortization are significant because ATSG owns the world's largest fleet of Boeing 767 converted freighters. Full-year 2024 results showed that increased costs for depreciation and amortization contributed to lower full-year pretax earnings compared to 2023. Specifically, in the Cargo Aircraft Management (CAM) segment, depreciation expense increased by $\mathbf{\$34 \text{ million}}$ versus the prior year for the fourth quarter alone, indicating a rising fixed cost base as new assets are placed in service or converted.

Significant capital expenditure for freighter conversions

The drive to expand the modern freighter fleet requires massive upfront investment. For the year ended December 31, 2024, the cash outflow for aircraft acquisitions and freighter conversions totaled $\mathbf{\$218.060 \text{ million}}$ in the investing activities section of the cash flow statement. This is a key driver of capital deployment, supporting future revenue streams.

Here's a quick look at the capital spending focus for 2024:

Capital Expenditure Category (Year Ended Dec 31, 2024)	Amount (in thousands)	Amount (USD)
Aircraft acquisitions and freighter conversions	($218,060)	$\mathbf{\$218.060 \text{ million}}$
Required heavy maintenance (Total CapEx component)	N/A	$\mathbf{\$100.6 \text{ million}}$
Total Projected Capital Spend (All-in 2024)	N/A	$\mathbf{\$390 \text{ million}}$

Variable costs for fuel, maintenance, and employee compensation

While depreciation is fixed, operating costs fluctuate with flight hours. Fuel is a major variable cost, though for ACMI (Aircraft, Crew, Maintenance, Insurance) contracts, the customer is typically responsible for it. Maintenance is substantial; for instance, required heavy maintenance was a $\mathbf{\$100.6 \text{ million}}$ component of 2024 capital expenditures. Employee compensation is also a significant variable cost, rising in 2024 due to factors like inflation and the need to staff up for growth.

Key operational cost drivers include:

• Increased costs for employee compensation compared to 2023.
• Costs associated with bringing new aircraft into service, such as adding over $\mathbf{50 \text{ additional pilots}}$ at ABX Air for the expanded Amazon flying agreement.
• Higher wage rates, increased personnel, and overtime pay impacting expenses.
• Increased ground service rates impacting ACMI Services segment expenses.

Interest expense on debt used for fleet financing (increased in 2024)

Financing the large asset base means interest expense is a recurring, non-trivial cost. Full-year 2024 saw interest expense increase compared to 2023. For the CAM segment alone, interest expense increased by $\mathbf{\$12 \text{ million}}$ versus the prior year in the fourth quarter comparison. On a consolidated basis, interest expense increased by $\mathbf{\$10.0 \text{ million}}$ during 2024 compared to 2023, partly due to higher rates under the Senior Credit Agreement and the issuance of the 2023 Convertible Notes.

Costs associated with customer incentives and pilot labor agreements

Incentives, often tied to warrants or lease agreements, can create significant, non-recurring charges. For example, the third quarter of 2024 included $\mathbf{\$4.9 \text{ million}}$ more in customer incentive costs stemming from warrant agreements with Amazon. Overall, increased customer incentives were cited as a factor contributing to lower full-year pretax earnings in 2024 versus 2023. Labor agreements also factor in; the ABX Air pilots ratified an extension moving the next amendable date to $\mathbf{2030}$, which provides cost certainty for staffing the expanded Amazon operations.

Here's how some of these specific expense pressures compared in 2024:

Cost Component (Full Year 2024 vs 2023)	Impact Mentioned
Depreciation and Amortization	Increased costs
Employee Compensation	Increased costs
Customer Incentives	Increased costs
Interest Expense (Consolidated)	Increased by $\mathbf{\$10.0 \text{ million}}$

The structure is definitely asset-heavy, you know? Finance: draft 13-week cash view by Friday.

Air Transport Services Group, Inc. (ATSG) - Canvas Business Model: Revenue Streams

You're looking at how Air Transport Services Group, Inc. (ATSG) brings in its money. It's a mix of putting their planes to work for others and keeping other people's planes flying right. Honestly, the structure is built around their fleet assets and the operational expertise of their airlines.

The total picture for the full year 2024 shows consolidated revenue hitting $2.0 billion. That's the top line before any costs come out. To give you a sense of where that came from, we can break down the main sources based on the structure of their business segments.

External aircraft leasing revenue, which primarily comes from the Cargo Aircraft Management (CAM) segment, was reported at $497 million in 2024. This revenue stream is about getting their owned freighters into the hands of customers under long-term agreements. For context, in the fourth quarter of 2024, CAM's total revenues were $111,560 thousand. Keep in mind that for the full year 2024, aircraft leasing and related revenues for CAM actually decreased by 6% compared to 2023, even though they added nine Boeing 767-300 freighter aircraft under long-term leases during the year.

Dedicated cargo transportation revenue, which is the flying they do for customers under contract, is heavily influenced by the Amazon Air partnership. That specific agreement is noted as generating approximately $1.2 billion annually. This revenue comes from the ACMI Services segment, where Air Transport Services Group, Inc. (ATSG) provides the aircraft, crew, maintenance, and insurance (ACMI) to operate dedicated routes. For the fourth quarter of 2024, the ACMI Services segment brought in $372,067 thousand in total revenues.

ACMI Services revenue, separate from the dedicated Amazon contract, is derived from flying services provided to various customers. While the full-year 2024 results for this segment showed a pre-tax earning of $1 million, the fourth quarter saw a significant swing to a pre-tax profit of $26 million, up from a loss of $2 million in the fourth quarter of 2023. This improvement was helped by operating eleven customer-provided Boeing 767-300 aircraft and contractual rate increases.

The final piece of the main revenue puzzle is Maintenance, Repair, and Overhaul (MRO) services revenue, which was approximately $141 million in 2024. This revenue stream supports the core operations by servicing the fleet, both their own and customer aircraft.

Here's a quick look at how those key revenue components stack up for the full year 2024, based on the provided figures and segment data:

Revenue Stream	2024 Reported/Estimated Amount
Consolidated Revenue	$2.0 billion
External Aircraft Leasing Revenue (CAM)	$497 million
Dedicated Cargo Transportation Revenue (Amazon)	~$1.2 billion
Maintenance, Repair, and Overhaul (MRO) Services Revenue	~$141 million
ACMI Services Segment Pretax Earnings	$1 million

You can see the concentration of revenue in the dedicated cargo transportation, but the leasing side is substantial too. The revenue mix is dynamic, though. Here are some key operational metrics that feed into these streams:

• Full-year 2024 revenue declined from $2.1 billion in 2023.
• Cargo block hours for ATSG's airlines declined 6% for the full year 2024 over 2023.
• At year-end 2024, 91 CAM-owned aircraft were leased to external customers.
• ACMI Services pretax earnings for the full year 2024 were $1 million, down from $32 million in 2023.
• The company is working toward completing its acquisition by Stonepeak in the first half of 2025.

It's definitely a business where asset deployment and contract volume drive the top line.