Air Transport Services (ATSG) 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	6 Months Ended
	Jun. 30, 2018	Aug. 08, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Air Transport Services Group, Inc.
Entity Central Index Key	894,081
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		59,080,387
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,260,495,219

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 31,704	$ 32,699
Accounts receivable, net of allowance of $1,130 in 2018 and $2,445 in 2017	100,805	109,114
Inventory	24,147	22,169
Prepaid supplies and other	13,017	20,521
TOTAL CURRENT ASSETS	169,673	184,503
Property and equipment, net	1,200,997	1,159,962
Lease incentive	72,232	80,684
Other assets	30,573	25,435
Goodwill and acquired intangibles	43,999	44,577
Convertible note hedges	0	53,683
Intangibles	6,720	7,298
Goodwill	37,279	37,279
TOTAL ASSETS	1,517,474	1,548,844
CURRENT LIABILITIES:
Accounts payable	85,691	99,728
Accrued salaries, wages and benefits	34,189	40,127
Accrued expenses	10,833	10,455
Current portion of debt obligations	14,860	18,512
Unearned revenue	15,022	15,850
TOTAL CURRENT LIABILITIES	160,595	184,672
Long term debt	505,853	497,246
Convertible note obligations	0	54,359
Post-retirement obligations	53,032	61,355
Other liabilities	45,417	45,353
Stock Warrants	203,426	211,136
Deferred income taxes	113,571	99,444
TOTAL LIABILITIES	1,081,894	1,153,565
Commitments and contingencies (Note H)
STOCKHOLDERS’ EQUITY:
Preferred stock, 20,000,000 shares authorized, including 75,000 Series A Junior Participating Preferred Stock	0	0
Common stock, par value $0.01 per share; 110,000,000 shares authorized; 59,080,387 and 59,057,195 shares issued and outstanding in 2018 and 2017, respectively	591	591
Additional paid-in capital	469,412	471,456
Retained earnings (accumulated deficit)	27,278	(13,748)
Accumulated other comprehensive loss	(61,701)	(63,020)
TOTAL STOCKHOLDERS’ EQUITY	435,580	395,279
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,517,474	$ 1,548,844

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets, Current [Abstract]
Allowance for doubtful accounts	$ 1,130	$ 2,445
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	110,000,000	85,000,000
Common stock, shares issued (in shares)	59,080,387	59,057,195
Common stock, shares outstanding (in shares)	59,080,387	59,057,195
Preferred Stock [Member]
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Series A Junior Participating Preferred Stock [Member]
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, shares authorized (in shares)	75,000	75,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
REVENUES	$ 203,607	$ 253,211	$ 406,647	$ 491,128
OPERATING EXPENSES
Salaries, wages and benefits	74,049	65,833	144,832	138,319
Fuel	5,913	32,258	11,701	67,099
Maintenance, materials and repairs	36,817	37,588	73,683	67,870
Depreciation and amortization	41,620	37,781	81,624	74,223
Travel	7,288	6,820	13,920	14,186
Contracted ground and aviation services	2,444	32,151	4,828	52,838
Rent	3,760	3,753	6,990	7,039
Landing and ramp	1,311	4,357	2,459	9,656
Insurance	1,420	955	2,777	2,217
Other operating expenses	5,087	8,590	12,292	16,626
Operating Expenses	179,709	230,086	355,106	450,073
OPERATING INCOME	23,898	23,125	51,541	41,055
OTHER INCOME (EXPENSE)
Interest income	54	16	77	48
Non-service component of retiree benefit costs	2,045	(177)	4,090	(354)
Non-service component of retiree benefit costs	(5,366)	(3,759)	10,728	7,307
Net gain (loss) on financial instruments	11,697	(67,649)	10,812	(65,780)
Other Nonoperating Income (Expense)	6,013	(71,569)	(702)	(73,393)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	29,911	(48,444)	50,839	(32,338)
INCOME TAX EXPENSE	(5,447)	(5,474)	10,693	11,784
EARNINGS (LOSS) FROM CONTINUING OPERATIONS	24,464	(53,918)	40,146	(44,122)
EARNINGS FROM DISCONTINUED OPERATIONS, NET OF TAXES	170	192	366	384
NET EARNINGS (LOSS)	$ 24,634	$ (53,726)	$ 40,512	$ (43,738)
BASIC EARNINGS (LOSS) PER SHARE
Basic earnings per share from continuing operations (in dollars per share)	$ 0.42	$ (0.91)	$ 0.68	$ (0.75)
Discontinued operations (in dollars per share)	0	0	0.01	0.01
TOTAL BASIC EARNINGS PER SHARE (in dollars per share)	0.42	(0.91)	0.69	(0.74)
DILUTED EARNINGS (LOSS) PER SHARE
Diluted earnings per share from continuing operations (in dollars per share)	0.21	(0.91)	0.48	(0.75)
Discontinued operations (in dollars per share)	0	0	0	0.01
TOTAL DILUTED NET EARNINGS PER SHARE (in dollars per share)	$ 0.21	$ (0.91)	$ 0.48	$ (0.74)
WEIGHTED AVERAGE SHARES
Basic (in shares)	58,739	59,035	58,790	59,084
Diluted (in shares)	68,363	59,035	68,784	59,084

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
NET EARNINGS (LOSS)	$ 24,634	$ (53,726)	$ 40,512	$ (43,738)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(123)	99	(139)	136
OTHER COMPREHENSIVE INCOME (LOSS):
TOTAL COMPREHENSIVE INCOME (LOSS), net of tax	25,240	(52,355)	41,831	(41,059)
Pension Plans [Member]
Other comprehensive income (loss), net of tax	687	1,235	1,374	2,469
OTHER COMPREHENSIVE INCOME (LOSS):
Income tax (expense) or benefit	(200)	(702)	(400)	(1,405)
Post-Retirement Plans [Member]
Other comprehensive income (loss), net of tax	42	37	84	74
OTHER COMPREHENSIVE INCOME (LOSS):
Income tax (expense) or benefit	(13)	$ (21)	(26)	(42)
Retained Earnings [Member]
OTHER COMPREHENSIVE INCOME (LOSS):
TOTAL COMPREHENSIVE INCOME (LOSS), net of tax	$ 24,634		$ 40,512	$ (43,738)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Purchase of common stock	$ (3,581)	$ (11,184)
Withholding taxes paid for conversion of employee stock awards	1,329	1,436
OPERATING ACTIVITIES:
Net earnings (loss) from continuing operations	40,146	(44,122)
Net earnings from discontinued operations	366	384
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	94,270	80,097
Pension and post-retirement	1,884	3,990
Deferred income taxes	10,475	11,454
Amortization of stock-based compensation	2,304	1,710
Net (gain) loss on financial instruments	(3,152)	154
Changes in assets and liabilities:
Accounts receivable	11,006	1,905
Inventory and prepaid supplies	3,433	(1,822)
Accounts payable	(2,067)	14,244
Unearned revenue	(1,504)	1,807
Accrued expenses, salaries, wages, benefits and other liabilities	(3,406)	(6,793)
Pension and post-retirement assets	(8,323)	(5,847)
Other	4,211	1,991
NET CASH PROVIDED BY OPERATING ACTIVITIES	141,983	124,778
INVESTING ACTIVITIES:
Capital expenditures	(150,816)	(144,325)
Proceeds from property and equipment	17,452	0
Investment in nonconsolidated affiliate	(5,150)	(646)
Redemption of long term deposits	0	9,975
NET CASH (USED IN) INVESTING ACTIVITIES	(138,514)	(134,996)
FINANCING ACTIVITIES:
Principal payments on long term obligations	(29,140)	(20,500)
Proceeds from borrowings	30,000	90,000
Payments for financing costs	(414)	0
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(4,464)	56,880
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(995)	46,662
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	32,699	16,358
CASH AND CASH EQUIVALENTS AT END OF PERIOD	31,704	63,020
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid, net of amount capitalized	6,450	7,101
Federal alternative minimum and state income taxes paid	806	1,220
SUPPLEMENTAL NON-CASH INFORMATION:
Accrued capital expenditures	18,755	12,615
Net (gain) loss on financial instruments	$ 10,812	$ (65,780)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands	Total	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at at Dec. 31, 2017	$ 395,279
Balance at (in shares) at Dec. 31, 2017	59,057,195
Stock-based compensation plans
Total comprehensive income (loss)	$ 41,831	$ 40,512	$ 1,319
Balance at at Jun. 30, 2018	$ 435,580
Balance at (in shares) at Jun. 30, 2018	59,080,387

Summary of Financial Statement

Summary of Financial Statement Preparation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Financial Statement Preparation and Significant Accounting Policies	SUMMARY OF FINANCIAL STATEMENT PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Air Transport Services Group, Inc. is a holding company whose subsidiaries primarily operate within the airfreight and logistics industry. The Company leases aircraft and provides airline operations, ground services, aircraft modification and maintenance services and other support services. The Company's subsidiaries offer a range of complementary services to delivery companies, freight forwarders, airlines and government customers. The Company's leasing subsidiary, Cargo Aircraft Management, Inc. (“CAM”), leases aircraft to each of the Company's airlines as well as to non-affiliated airlines and other lessees. The airlines, ABX Air, Inc. (“ABX”) and Air Transport International, Inc. (“ATI”), each have the authority, through their separate U.S. Department of Transportation ("DOT") and Federal Aviation Administration ("FAA") certificates, to transport cargo worldwide. The Company's airlines provide a combination of aircraft, crews, maintenance and insurance services for a customer's transportation network through "CMI" and "ACMI" agreements and through charter contracts in which aviation fuel is also included. ATI provides passenger transportation, primarily to the U.S. Military, using "combi" aircraft, which are certified to carry passengers as well as cargo on the main deck. Through its subsidiary Airborne Maintenance and Engineering Services, Inc. ("AMES"), the Company provides aircraft maintenance and modification services. In addition, the Company provides ground equipment maintenance and operates mail and package sorting facilities. Basis of Presentation The accompanying unaudited condensed interim consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America and such principles are applied on a basis consistent with the financial statements reflected in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed with the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations promulgated by the SEC related to interim financial statements. In the opinion of management, the accompanying financial statements contain all adjustments, including normal recurring adjustments, necessary for the fair presentation of the Company’s results of operations and financial position for the periods presented. Due to seasonal fluctuations, among other factors common to the air cargo industry, the results of operations for the periods presented are not necessarily indicative of the results of operations to be expected for the entire year or any interim period. The preparation of consolidated financial statements requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements. The accounting estimates reflect the best judgment of management, but actual results could differ materially from those estimates. The accompanying condensed consolidated financial statements include the accounts of Air Transport Services Group, Inc. and its wholly-owned subsidiaries. Investments in affiliates in which the Company has significant influence but does not exercise control are accounted for using the equity method of accounting. Using the equity method, the Company’s share of the nonconsolidated affiliates' income or loss is recognized in the consolidated statement of earnings and cumulative post-acquisition changes in the investment are adjusted against the carrying amount of the investment. Inter-company balances and transactions are eliminated. Accounting Standards Updates Effective January 1, 2018 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Update ("ASU") No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” ("Topic 606”) which superseded previous revenue recognition guidance. Topic 606 is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The Company's lease revenues within the scope of ASC 840, Leases, are specifically excluded from Topic 606. The Company adopted the standard using a modified retrospective approach, under which financial statements are prepared under the revised guidance for the year of adoption, but not for prior years. Under this method, entities recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for open contract performance at that time. The Company's adoption efforts included the identification of revenue within the scope of the standard, the evaluation of customer contracts in conjunction with new guidance and an assessment of the qualitative and quantitative impacts of the new standard on its financial statements. The evaluation included the application of each of the five steps identified in the Topic 606 revenue recognition model. The Company determined that under Topic 606, it is an agent for aviation fuel and certain other costs reimbursed by customers under its ACMI and CMI contracts and for certain cargo handling services that it arranges for a customer. Under the new revenue standard, such reimbursed amounts are reported net of the corresponding expenses beginning in 2018. This application of Topic 606 did not have a material impact on the Company's reported earnings in any period. Additionally under Topic 606, the Company is required to record revenue over time, instead of at the time of completion, for certain customer contracts for airframe and modification services that do not have an alternative use and for which the Company has an enforceable right to payment during the service cycle. The Company adopted the provisions of this new standard using the modified retrospective method which requires the Company to record a one time adjustment to retained deficit for the cumulative effect that the standard has on open contracts at the time of adoption. Upon adoption of the new standard the Company accelerated $3.6 million of revenue resulting in an immaterial adjustment to its January 1, 2018 retained deficit for open airframe and modification services contracts. In January 2017, the FASB issued ASU "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" (“ASU 2017-04”). This new standard eliminates Step 2 from the goodwill impairment test and requires an entity to perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. ASU 2017-04 is effective for any annual or interim goodwill impairment tests in the fiscal years beginning after December 15, 2019 and must be applied prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted this new accounting guidance in January of 2018. The adoption did not have an impact on the Company's financial position, results of operations, or cash flows. In March 2017, the FASB issued ASU "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost "(ASU 2017-07"). ASU 2017-07 requires an employer to report the service cost component of retiree benefits in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented separately from the service cost component and outside a subtotal of income from operations. The Company adopted ASU 2017-07 on January 1, 2018, retrospectively to all periods presented. As a result, retiree benefit plan interest expense, investment returns, settlements and other non-service cost components of retiree benefit expenses are excluded from the Company's operating income subtotal as reported in the Company's Consolidated Statement of Operations, but remain included in earnings before income taxes. Information about retiree benefit plans' interest expense, investment returns and other components of retiree benefit expenses can be found in Note I. In February 2016, the FASB issued ASU "Leases (Topic 842)" ("ASU 2016-02"), which will require the recognition of right to-use-assets and lease liabilities for leases previously classified as operating leases by lessees. The standard will take effect for annual reporting periods beginning after December 15, 2018, including interim reporting periods. Early application will be permitted for all entities. In addition, the FASB has decided to require a lessee to apply a modified retrospective transition approach for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements (the date of initial application). The modified retrospective approach would not require any transition accounting for leases that expired before the date of initial application. The Company is currently evaluating the impact of the standard on its financial statements and disclosures. In February 2018, the FASB issued ASU “Reclassification of Certain Tax Effects From Accumulated Other Comprehensive Income" ("ASU 2018-02"). ASU 2018-02 amends ASC 220, Income Statement — Reporting Comprehensive Income, to allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from U.S. federal tax legislation known as the Tax Cuts and Jobs Act. In addition, under the ASU 2018-02, a Company will be required to provide certain disclosures regarding stranded tax effects. ASU 2018-02 is effective for years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the standard on its financial statements and disclosures. In June 2018, the FASB issued ASU “Improvements to Non-employee Share-based Payment Accounting" ("ASU 2018-07"). ASU 2018-07 amends ASC 718, "Compensation - Stock Compensation" ("ASC 718"), to simplify the accounting for share-based payments granted to non-employees for goods and services. ASU 2018-07 supersedes ASC 505-50, "Equity-Based Payments to Non-employees" ("ASC 505-50"). ASU 2018-07 aligns much of the accounting for share-based payments granted to non-employees for goods and services with the accounting for share-based payments granted to employees. ASU 2018-07 is effective for years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Companies will apply the new guidance to equity-classified non-employee awards for which a measurement date has not been established and liability-classified non-employee awards that have not been settled as of the date of adoption by recognizing a cumulative-effect adjustment to retained earnings as of the beginning of the annual period of adoption. The Company is currently evaluating the impact of the standard on its financial statements and disclosures.

Significant Customers

Significant Customers	6 Months Ended
	Jun. 30, 2018
Significant Customers [Abstract]
Significant Customers	SIGNIFICANT CUSTOMERS DHL The Company has had long term contracts with DHL Network Operations (USA), Inc. and its affiliates ("DHL") since August 2003. Revenues from aircraft leases and related services performed for DHL were approximately 28% and 28% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2018 , respectively, compared to 25% and 26% for the corresponding periods of 2017. Revenues excluding directly reimbursed expenses from continuing operations performed for DHL comprised approximately 30% and 30% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2017. The Company’s balance sheets include accounts receivable with DHL of $10.7 million and $15.7 million as of June 30, 2018 and December 31, 2017, respectively. The Company leases Boeing 767 aircraft to DHL under both long-term and short-term lease agreements. Under a separate crew, maintenance and insurance (“CMI”) agreement, the Company operates Boeing 767 aircraft that DHL leases from the Company. Pricing for services provided through the CMI agreement is based on pre-defined fees, scaled for the number of aircraft operated and the number of flight crews provided to DHL for its U.S. network. The Company provides DHL with scheduled maintenance services for aircraft that DHL leases. The Company also provides Boeing 767 and Boeing 757 air cargo transportation services for DHL through additional ACMI agreements in which the Company provides the aircraft, crews, maintenance and insurance under a single contract. Revenues generated from the ACMI agreements are typically based on hours flown. The Company also provides ground equipment, such as power units, air starts and related maintenance services to DHL under separate agreements. Amazon The Company has been providing freighter aircraft and services for cargo handling and logistical support for Amazon.com Services, Inc. ("ASI"), successor to Amazon Fulfillment Services, Inc., a subsidiary of Amazon.com, Inc. ("Amazon") since September 2015. On March 8, 2016, the Company entered into an Air Transportation Services Agreement (the “ATSA”) with ASI, pursuant to which CAM leases 20 Boeing 767 freighter aircraft to ASI, including 12 Boeing 767-200 freighter aircraft for a term of five years and eight Boeing 767-300 freighter aircraft for a term of seven years. The ATSA also provides for the operation of those aircraft by the Company’s airline subsidiaries, and the management of ground services by the Company's subsidiary LGSTX Services Inc. ("LGSTX"). The ATSA became effective on April 1, 2016 and has a term of five years. CAM owns all 20 of the Boeing 767 aircraft that are leased and operated under the ATSA. Revenues from continuing operations performed for Amazon comprised approximately 29% and 29% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2018 , respectively, compared to 42% and 41% for the corresponding periods of 2017. Revenues excluding directly reimbursed expenses from continuing operations performed for Amazon comprised approximately 26% and 26% of the Company's consolidated revenues from continuing operations for the three and six month period ending June 30, 2017. The Company’s balance sheets include accounts receivable with Amazon of $34.5 million and $44.2 million as of June 30, 2018 and December 31, 2017, respectively. In conjunction with the execution of the ATSA, the Company and Amazon entered into an Investment Agreement and a Stockholders Agreement on March 8, 2016. The Investment Agreement calls for the Company to issue warrants in three tranches which will grant Amazon the right to acquire up to 19.9% of the Company’s outstanding common shares as described below. The first tranche of warrants, issued upon the execution of the Investment Agreement and all of which are now fully vested, granted Amazon the right to purchase approximately 12.81 million ATSG common shares, with the first 7.69 million common shares vesting upon issuance on March 8, 2016, and the remaining 5.12 million common shares vesting as the Company delivered additional aircraft leased under the ATSA. The second tranche of warrants, which were issued and vested on March 8, 2018, grants Amazon the right to purchase approximately 1.59 million ATSG common shares. The third tranche of warrants will be issued and vest on September 8, 2020, and will grant Amazon the right to purchase such additional number of ATSG common shares as is necessary to bring Amazon’s ownership to 19.9% of the Company’s pre-transaction outstanding common shares measured on a GAAP-diluted basis, adjusted for share issuances and repurchases by the Company following the date of the Investment Agreement and after giving effect to the warrants granted. The exercise price of the warrants is $9.73 per share, which represents the closing price of ATSG’s common shares on February 9, 2016. Each of the three tranches of warrants are exercisable in accordance with its terms through March 8, 2021. The Company anticipates making available the common shares required for the underlying warrants through a combination of share repurchases and the issuance of additional shares. The Company’s accounting for the warrants has been determined in accordance with the financial reporting guidance for equity-based payments to non-employees and for financial instruments. The warrants issued to Amazon as of March 8, 2016, were recorded to stockholders equity, having a fair value of $4.89 per share. At that time, the fair value of the 7.69 million vested warrants issued to Amazon was recorded as a lease incentive asset and is being amortized against revenues over the duration of the aircraft leases. On May 12, 2016, the Company’s stockholders approved an amendment to the Certificate of Incorporation of the Company at the annual meeting of stockholders to increase the number of authorized common shares and to approve the warrants in full as required under the rules of the Nasdaq Global Select Market. The stockholders' approval enabled features of the warrants that required the vested warrants of the first tranche and the warrants of the second and third tranches to be classified as financial instruments as of May 12, 2016. Accordingly, the fair value of those warrants was measured and classified in liabilities on that date. Since May 12, 2016, 5.12 million additional warrants in the first tranche vested in conjunction with the execution of eight aircraft leases. As of June 30, 2018, the Company's liabilities reflected 14.83 million warrants having a fair value of $13.72 per share. The re-measurements of the warrants to fair value resulted in non-operating gains before the effect of income taxes of $10.8 million and $7.7 million for the three and six month periods ended June 30, 2018, respectively, compared to non-operating losses of $67.3 million and $65.6 million for the corresponding periods of 2017. The Company's earnings in future periods will be impacted by the number of warrants granted, the re-measurements of warrant fair value, amortizations of the lease incentive asset and the related income tax effects. For income tax calculations, the value and timing of related tax deductions will differ from the guidance described above for financial reporting. U.S. Military A substantial portion of the Company's revenues is also derived from the U.S. Military. The U.S. Military awards flights to U.S. certificated airlines through annual contracts and through temporary "expansion" routes. Revenues from services performed for the U.S. Military were approximately 11% and 11% of the Company's total revenues from continuing operations for the three and six month periods ending June 30, 2018 , respectively, compared to 7% and 7% for the corresponding periods of 2017. Revenues excluding directly reimbursed expenses from continuing operations performed for the U.S. Military comprised approximately 10% and 10% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2017. The Company's balance sheets included accounts receivable with the U.S. Military of 6.0 million and 6.7 million as of June 30, 2018 and December 31, 2017, respectively.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	GOODWILL, INTANGIBLES AND EQUITY INVESTMENTS The Company's assets for CAM and the MRO Services segments each include goodwill. An annual impairment test was performed for each, respectively, at December, 31, 2017 using industry market multiples and discounted cash flows utilizing a market-derived rate of return (level 3 fair value inputs). Goodwill was not impaired. The carrying amounts of goodwill are as follows (in thousands): CAM MRO Services Total Carrying value as of December 31, 2017 $ 34,395 $ 2,884 $ 37,279 Carrying value as of June 30, 2018 $ 34,395 $ 2,884 $ 37,279 The Company's acquired intangible assets are as follows (in thousands): Airline Amortizing Certificates Intangibles Total Carrying value as of December 31, 2017 $ 3,000 $ 4,298 $ 7,298 Amortization — (578 ) (578 ) Carrying value as of June 30, 2018 $ 3,000 $ 3,720 $ 6,720 The airline certificates have an indefinite life and therefore are not amortized. The Company amortizes finite-lived intangibles assets, including customer relationship and STC intangibles, over 4 to 7 years. Stock warrants issued to a lessee (see Note B) as an incentive are recorded as a lease incentive asset using their fair value at the time that the lessee has met its performance obligation and amortized against revenues over the duration of related aircraft leases. The Company's lease incentive granted to the lessee was as follows (in thousands): Lease Incentive Carrying value as of December 31, 2017 $ 80,684 Amortization (8,452 ) Carrying value as of June 30, 2018 $ 72,232 The lease incentive began to amortize in April 2016, with the commencement of certain aircraft leases over the duration of the related leases. In January 2014, the Company acquired a 25 percent equity interest in West Atlantic AB of Gothenburg, Sweden ("West") and in December 2017, the Company entered into a preferred equity instrument. West, through its two airlines, Atlantic Airlines Ltd. and West Air Sweden AB, operates a fleet of aircraft on behalf of European regional mail carriers and express logistics providers. The airlines operate a combined fleet of British Aerospace ATPs, Bombardier CRJ-200-PFs, and Boeing 767 and 737 aircraft. West leases three Boeing 767 aircraft and two Boeing 737 from the Company. The Company’s carrying value of West was $7.7 million and $7.1 million at June 30, 2018 and December 31, 2017, respectively, including $5.5 million of excess purchase price over the Company's fair value of West's net assets in January of 2014. The Company's equity interest and the preferred equity instrument are reflected in “Other Assets” in the Company’s consolidated balance sheets as of June 30, 2018 and December 31, 2017. On August 3, 2017 the Company entered into a joint-venture agreement with Precision Aircraft Solutions, LLC, to develop a passenger-to-freighter conversion program for Airbus A321-200 aircraft. The Company anticipates approval of a supplemental type certificate from the FAA in 2019. The Company expects to make contributions equal to its 49% ownership percentage of the program's total costs over the next two years. The Company accounts for its investment in the joint venture under the equity method of accounting, in which the carrying value of the investment is reduced for the Company's share of the joint ventures operating losses. The carrying value of the joint venture, reflected in “Other Assets” in the Company’s consolidated balance sheets, was $5.8 million and $5.6 million at June 30, 2018 and December 31, 2017.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company’s money market funds and interest rate swaps are reported on the Company’s consolidated balance sheets at fair values based on market values from identical or comparable transactions. The fair value of the Company’s money market funds, stock warrant obligations, convertible note, convertible note hedges and interest rate swaps are based on observable inputs (Level 2) from comparable market transactions. The fair value of the stock warrant obligations were determined using a Black-Scholes pricing model which considers the Company’s common stock price and various assumptions, such as the volatility of the Company’s common stock, the expected dividend yield, and the risk-free interest rate. The fair value of the note conversion obligations and the convertible note hedges were estimated using a Black-Scholes pricing model and incorporate the terms and conditions of the underlying financial instruments. The valuations are, among other things, subject to changes in both the Company's credit worthiness and the counter-parties to the instruments as well as change in general market conditions. While the change in fair value of the note conversion obligations and the convertible note hedges are generally expected to move in opposite directions, the net change in any given period may be material. The following table reflects assets and liabilities that are measured at fair value on a recurring basis (in thousands): As of June 30, 2018 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 20,835 $ — $ 20,835 Interest rate swap — 4,992 — 4,992 Total Assets $ — $ 25,827 $ — $ 25,827 Liabilities Stock warrant obligations — (203,426 ) — (203,426 ) Total Liabilities $ — $ (203,426 ) $ — $ (203,426 ) As of December 31, 2017 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 1,326 $ — $ 1,326 Interest rate swap — 1,840 — 1,840 Convertible note hedges — 53,683 — 53,683 Total Assets $ — $ 56,849 $ — $ 56,849 Liabilities Note conversion obligations — (54,359 ) — (54,359 ) Stock warrant obligation — (211,136 ) — (211,136 ) Total Liabilities $ — $ (265,495 ) $ — $ (265,495 ) As a result of higher market interest rates compared to the stated interest rates of the Company’s fixed rate debt obligations, the fair value of the Company’s debt obligations, based on Level 2 observable inputs, was approximately $7.7 million less than the carrying value, which was $520.7 million at June 30, 2018 . As of December 31, 2017, the fair value of the Company’s debt obligations was approximately $9.1 million more than the carrying value, which was $515.8 million . The non-financial assets, including goodwill, intangible assets and property and equipment are measured at fair value on a non-recurring basis.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT The Company's property and equipment consists primarily of cargo aircraft, aircraft engines and other flight equipment. Property and equipment, to be held and used, is summarized as follows (in thousands): June 30, December 31, Flight equipment $ 1,870,120 $ 1,801,808 Ground equipment 54,165 53,523 Leasehold improvements, facilities and office equipment 28,660 26,897 Aircraft modifications and projects in progress 148,999 121,760 2,101,944 2,003,988 Accumulated depreciation (900,947 ) (844,026 ) Property and equipment, net $ 1,200,997 $ 1,159,962 CAM owned aircraft with a carrying value of $751.1 million and $697.4 million that were under leases to external customers as of June 30, 2018 and December 31, 2017, respectively. The Company’s accounting policy for major airframe and engine maintenance varies by subsidiary and aircraft type. The costs of airframe maintenance for Boeing 767-200 operated by ABX are expensed as they are incurred. The costs of major airframe maintenance for the Company's other aircraft are capitalized and amortized over the useful life of the overhaul. Many of the Company's General Electric CF6 engines that power the Boeing 767-200 aircraft are maintained under “power by the hour” and "power by the cycle" agreements with an engine maintenance provider. Further, in May 2017, the Company entered into similar maintenance agreements for certain General Electric CF6 engines that power many of the Company's Boeing 767-300 aircraft. Under these agreements, the engines are maintained by the service provider for a fixed fee per cycle and/or flight hour. As a result, the cost of maintenance for these engines is generally expensed as flights occur. During their term, these maintenance agreements contain provisions for a minimum level of flight activity. Maintenance for the airlines’ other aircraft engines, including those powering Boeing 757 aircraft, are typically contracted to service providers on a time and material basis and the costs of those engine overhauls are capitalized and amortized over the useful life of the overhaul.

Debt Obligations

Debt Obligations	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt Obligations	DEBT OBLIGATIONS Debt obligations consisted of the following (in thousands): June 30, December 31, 2018 2017 Unsubordinated term loan $ 63,061 $ 70,568 Revolving credit facility 257,000 245,000 Aircraft loans — 3,640 Convertible debt 200,652 196,550 Total debt obligations 520,713 515,758 Less: current portion (14,860 ) (18,512 ) Total long term obligations, net $ 505,853 $ 497,246 The Company executed a syndicated credit agreement ("Senior Credit Agreement") in May 2011 which includes an unsubordinated term loan and a revolving credit facility which has a capacity of $545.0 million . The Senior Credit Agreement expires May 30, 2023. Each year, through May 6, 2019, the Company may request a one year extension of the final maturity date, subject to the lenders' consent. The Senior Credit Agreement permits additional indebtedness of up to $300.0 million for the convertible debt. The Senior Credit Agreement limits the amount of dividends the Company can pay and the amount of common stock it can repurchase to $100.0 million during any calender year, provided the Company's total secured debt to earnings before interest, taxes, depreciation and amortization expenses ("EBITDA") ratio is under 3.00 times, after giving effect to the dividend or repurchase. As of June 30, 2018, the unused revolving credit facility totaled $278.8 million , net of draws of $257.0 million and outstanding letters of credit of $9.2 million . Additionally, the Senior Credit Agreement includes an accordion feature such that the Company can now draw up to an additional $100.0 million subject to the lenders' consent. The Senior Credit Agreement is collateralized by certain of the Company's Boeing 767 and 757 aircraft that are not collateralized under aircraft loans. Under the terms of the Senior Credit Agreement, the Company is required to maintain collateral coverage equal to 125% of the outstanding balance of the term loan and the maximum capacity of revolving credit facility or 150% of the outstanding balance of the term loan and the total funded revolving credit facility, whichever is less. The minimum collateral coverage which must be maintained is 50% of the outstanding balance of the term loan plus the revolving credit facility commitment which was $545.0 million . The balance of the unsubordinated term loan is net of debt issuance costs of $0.7 million and $0.7 million for the periods ending June 30, 2018 and December 31, 2017, respectively. Under the terms of the Senior Credit Agreement, interest rates are adjusted quarterly based on the Company's EBITDA, its outstanding debt level and prevailing LIBOR or prime rates. At the Company's current debt-to-EBITDA ratio, the LIBOR based financing for the unsubordinated term loan and revolving credit facility bear a variable interest rate of 3.6% and 3.6% , respectively. The aircraft loan was paid off by the Company in January 2018. The Senior Credit Agreement contains covenants including, among other things, limitations on certain additional indebtedness, guarantees of indebtedness, as well as a total debt to EBITDA ratio and a fixed charge coverage ratio. The Senior Credit Agreement stipulates events of default, including unspecified events that may have material adverse effects on the Company. If an event of default occurs, the Company may be forced to repay, renegotiate or replace the Senior Credit Agreement. In September 2017, the Company issued $258.8 million aggregate principal amount of 1.125% Convertible Senior Notes due 2024 ("Notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Notes bear interest at a rate of 1.125% per year payable semi-annually in arrears on April 15 and October 15 each year, beginning April 15, 2018. The Notes mature on October 15, 2024, unless repurchased or converted in accordance with their terms prior to such date. The Notes are unsecured indebtedness, subordinated to the Company's existing and future secured indebtedness and other liabilities, including trade payables. Conversion of the Notes can only occur upon satisfaction of certain conditions and during certain periods, beginning in any calendar quarter commencing after December 31, 2017 and thereafter, until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon the occurrence of certain fundamental changes, holders of the Notes can require the Company to repurchase their notes at the cash repurchase price equal to the principal amount of the notes, plus any accrued and unpaid interest. The Notes may be settled in cash, the Company’s common shares or a combination of cash and the Company’s common shares, at the Company’s election. The initial conversion rate is 31.3475 common shares per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $31.90 per common share). If a “make-whole fundamental change” (as defined in the offering circular with the Notes) occurs, the Company will, in certain circumstances, increase the conversion rate for a specified period of time. In conjunction with the Notes, the Company purchased convertible note hedges having the same number of the Company’s common shares, 8.1 million shares, and same strike price of $31.90, that underlie the Notes. The convertible note hedges are expected to reduce the potential equity dilution with respect to the Company's common stock, and/or offset any cash payments in excess of the principal amount due, as the case may be, upon conversion of the Notes. The Company's current intent and policy is to settle all Note conversions through a combination settlement which satisfies the principal amount of the Notes outstanding with cash. The Notes could have a dilutive effect on the computation of earnings per share in accordance with accounting principles to the extent that the average traded market price of the Company’s common shares for a reporting period exceeds the conversion price. The conversion feature of the Notes required bifurcation from the principal amount under the applicable accounting guidance. Settlement provisions of the Notes and the convertible note hedges required cash settlement of these instruments until the Company's shareholders increased the number of authorized shares of common stock t o cover the full number of shares underlying the Notes. As a result, the conversion feature of the Notes and the convertible note hedges were initially accounted for as liabilities and assets, respectively, and marked to market at the end of each period. On May 10, 2018, the Company's shareholders increased the number of authorized shares of common stock to cover the full number of shares underlying the Notes. The Company reevaluated the Notes and convertible note hedges under the applicable accounting guidance including ASC 815, "Derivatives and Hedging," and determined that the instruments, which meet the definition of derivative and are indexed to the Company's own stock, should be classified in shareholder's equity. The fair value of the the conversion feature of the Notes and the convertible note hedges of $51.3 million and $50.6 million , respectively on May 10, 2018 were reclassified to paid-in capital. The Notes issuance costs and discount are being amortized to interest expense through October 2024, using an effective interest rate of approximately 5.15% . The carrying value of the Company's Convertible debt is shown below: June 30, December 31, 2018 2017 Principal value, Convertible Senior Notes, due 2024 258,750 258,750 Unamortized issuance costs (6,255 ) (6,685 ) Unamortized discount (51,843 ) (55,515 ) Convertible debt 200,652 196,550 In conjunction with the offering of the Notes, the Company also sold warrants to the convertible note hedge counterparties in separate, privately negotiated warrant transactions at a higher strike price and for the same number of the Company’s common shares, subject to customary anti-dilution adjustments. The amount received for these warrants and recorded in paid-in capital on the Company’s consolidated balance sheets was $38.5 million . These warrants could have resulted in 8.1 million additional shares of the Company's common stock, if the Company's traded market price exceeded the strike price which is $41.35 per share and is subject to certain adjustments under the terms of the warrant transactions. The warrants could have a dilutive effect on the computation of earnings per share to the extent that the average traded market price of the Company’s common shares for a reporting period exceeds the strike price.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Lease Commitments The Company leases portions of the air park in Wilmington, Ohio, under lease agreements with a regional port authority, the terms of which expire in May of 2019 and June of 2036 with options to extend the leases. The leased facilities include corporate offices, 310,000 square feet of maintenance hangars and a 100,000 square foot component repair shop at the air park. ABX also has the non-exclusive right to use the airport, which includes one active runway, taxi ways and ramp space. The Company also leases and operates a 311,500 square foot, two hangar aircraft maintenance complex in Tampa, Florida. Additionally, the Company leases certain equipment and airport facilities, office space, and maintenance facilities at other locations. As of June 30, 2018 and December 31, 2017, the Company did not lease any aircraft from lessors. Purchase Commitments The Company has agreements with Israel Aerospace Industries Ltd. ("IAI") for the conversion of Boeing 767 passenger aircraft into a standard configured freighter aircraft. The conversions primarily consist of the installation of a standard cargo door and loading system. At June 30, 2018 , the Company was committed to acquire and modify additional Boeing 767-300 passenger aircraft into standard freighter aircraft. In addition to five aircraft that were in the modification process at June 30, 2018 , the Company is committed to induct two more aircraft into the freighter modification process through 2019, including commitments to purchase two more Boeing 767-300 passenger aircraft during the second half of 2018. As of June 30, 2018 , the Company's commitments to complete the conversions of aircraft it owns or has the contracts to purchase totaled $79.8 million . Additionally, the Company could incur a cancellation fee for part kits for any aircraft that is not inducted into conversion at IAI. Guarantees and Indemnifications Certain leases and agreements of the Company contain guarantees and indemnification obligations to the lessor, or one or more other parties that are considered reasonable and customary (e.g. use, tax and environmental indemnifications), the terms of which range in duration and are often limited. Such indemnification obligations may continue after expiration of the respective lease or agreement. Other In addition to the foregoing matters, the Company is also a party to legal proceedings in various federal and state jurisdictions from time to time arising out of the operation of the Company's business. The amount of alleged liability, if any, from these proceedings cannot be determined with certainty; however, the Company believes that its ultimate liability, if any, arising from pending legal proceedings, as well as from asserted legal claims and known potential legal claims which are probable of assertion, taking into account established accruals for estimated liabilities, should not be material to our financial condition or results of operations. Employees Under Collective Bargaining Agreements As of June 30, 2018 , the flight crewmember employees of ABX and ATI and flight attendant employees of ATI were represented by the labor unions listed below: Airline Labor Agreement Unit Percentage of the Company’s Employees ABX International Brotherhood of Teamsters 7.6% ATI Air Line Pilots Association 6.9% ATI Association of Flight Attendants 1.1%

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefit Plans	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pension and Other Post-Retirement Benefit Plans	PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS Defined Benefit and Post-retirement Healthcare Plans ABX sponsors a qualified defined benefit pension plan for ABX crewmembers and a qualified defined benefit pension plan for a major portion of its other ABX employees that meet minimum eligibility requirements. ABX also sponsors non-qualified defined benefit pension plans for certain employees. These non-qualified plans are unfunded. Employees are no longer accruing benefits under any of the defined benefit pension plans. ABX also sponsors a post-retirement healthcare plan for its ABX employees, which is unfunded. Benefits for covered individuals terminate upon reaching age 65 under the post-retirement healthcare plans. The accounting and valuation for these post-retirement obligations are determined by prescribed accounting and actuarial methods that consider a number of assumptions and estimates. The selection of appropriate assumptions and estimates is significant due to the long time period over which benefits will be accrued and paid. The long term nature of these benefit payouts increases the sensitivity of certain estimates of our post-retirement costs. The assumptions considered most sensitive in actuarially valuing ABX’s pension obligations and determining related expense amounts are discount rates and expected long term investment returns on plan assets. Additionally, other assumptions concerning retirement ages, mortality and employee turnover also affect the valuations. Actual results and future changes in these assumptions could result in future costs significantly higher than those recorded in our results of operations. ABX measures plan assets and benefit obligations as of December 31 of each year. Information regarding ABX’s sponsored defined benefit pension plans and post-retirement healthcare plans follow below. The accumulated benefit obligation reflects pension benefit obligations based on the actual earnings and service to-date of current employees. The Company’s net periodic benefit costs for its defined benefit pension plans and post-retirement healthcare plans for both continuing and discontinued operations are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, Pension Plans Post-Retirement Healthcare Plan Pension Plans Post-Retirement Healthcare Plan 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $ — $ — $ 30 $ 39 $ — $ — $ 60 $ 78 Interest cost 7,284 8,775 32 36 14,568 17,550 64 72 Expected return on plan assets (10,523 ) (10,930 ) — — (21,046 ) (21,859 ) — — Amortization of prior service cost — — — (13 ) — — — (26 ) Amortization of net (gain) loss 887 1,937 55 71 1,774 3,874 110 142 Net periodic benefit cost (income) $ (2,352 ) $ (218 ) $ 117 $ 133 $ (4,704 ) $ (435 ) $ 234 $ 266 During the six month period ending June 30, 2018, the Company contributed $1.8 million to the pension plans. The Company expects to contribute an additional $20.7 million during the remainder of 2018.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The provision for income taxes for interim periods is based on management's best estimate of the effective income tax rate expected to be applicable for the current year, plus any adjustments arising from changes in the estimated amount of taxable income related to prior periods. Federal legislation known as the The Tax Cuts and Jobs Acts ("Tax Act") was enacted on December 22, 2017. The Tax Act reduces the U.S. federal corporate tax rate from the previous rate of 35% to 21% effective January 1, 2018. The Tax Act also makes broad and complex changes to the U.S. tax code, including, but not limited to a one time tax on earnings of certain foreign subsidiaries, limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017, bonus depreciation for full expensing of qualified property, and limitations on the deductibility of certain executive compensation. The Company will continue to refine the calculations as additional analysis is completed and the Company gains a more thorough understanding of the Tax Act, including the tax law related to the deductibility of purchased assets, state tax treatment, and amounts related to employee compensation. Income tax expense recorded through June 30, 2018 utilized a projected annualized 24.3% rate applied to year-to-date income. Additionally, the Company recorded discrete tax items for the conversion of employee stock awards during the first quarter of 2018, resulting in an effective tax rate of 21.0% . The final effective tax rate applied to 2018 will depend on the actual amount of pre-tax book results by the Company for the full year, the additional conversions of employee stock awards, issuance of stock warrants and other items. The Company has operating loss carryforwards for U.S. federal income tax purposes. Management expects to utilize the loss carryforwards to offset federal income tax liabilities in the future. Due to the Company's deferred tax assets, including its loss carryforwards, management does not expect to pay federal income taxes until 2023 or later. The Company may, however, be required to pay some federal tax due to loss carryforward usage limitations and certain state and local income taxes before then.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS The Company's Senior Credit Agreement requires the Company to maintain derivative instruments for protection from fluctuating interest rates, for at least fifty percent of the outstanding balance of the term loan. Accordingly, the Company entered into interest rate swaps. The table below provides information about the Company’s interest rate swaps (in thousands): June 30, 2018 December 31, 2017 Expiration Date Stated Interest Rate Notional Amount Market Value (Liability) Notional Amount Market Value (Liability) May 5, 2021 1.090 % 31,875 943 35,625 719 May 30, 2021 1.703 % 31,875 570 35,625 240 March 31, 2022 1.900 % 50,000 1,444 50,000 416 March 31, 2022 1.950 % 75,000 2,035 75,000 465 The outstanding interest rate swaps are not designated as hedges for accounting purposes. The effects of future fluctuations in LIBOR interest rates on derivatives held by the Company will result in the recording of unrealized gains and losses into the statement of operations. The Company recorded pre-tax gains on derivatives of $3.2 million and pre-tax losses of $0.2 million for the six month periods ending June 30, 2018 and 2017, respectively. The liability for outstanding derivatives is recorded in other liabilities and in accrued expenses. The Company recorded a net loss before the effects of income taxes of $0.1 million during the six month periods ending June 30, 2018 for the revaluation of the convertible note hedges and the note conversion obligations to fair value before these instruments were reclassified to paid-in capital.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2018
Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated other comprehensive income (loss) includes the following items by components for the three and six month periods ending June 30, 2018 and 2017 (in thousands): Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of March 31, 2017 (75,854 ) (1,264 ) (1,440 ) (78,558 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — 152 152 Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 1,937 71 — 2,008 Negative prior service cost — (13 ) — (13 ) Income Tax (Expense) or Benefit (702 ) (21 ) (53 ) (776 ) Other comprehensive income (loss), net of tax 1,235 37 99 1,371 Balance as of June 30, 2017 (74,619 ) (1,227 ) (1,341 ) (77,187 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of December 31, 2016 (77,088 ) (1,301 ) (1,477 ) (79,866 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — 210 210 Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 3,874 142 — 4,016 Negative prior service cost — (26 ) — (26 ) Income Tax (Expense) or Benefit (1,405 ) (42 ) (74 ) (1,521 ) Other comprehensive income (loss), net of tax 2,469 74 136 2,679 Balance as of June 30, 2017 (74,619 ) (1,227 ) (1,341 ) (77,187 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of March 31, 2018 (59,888 ) (1,055 ) (1,364 ) (62,307 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (186 ) (186 ) Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 887 55 — 942 Income Tax (Expense) or Benefit (200 ) (13 ) 63 (150 ) Other comprehensive income (loss), net of tax 687 42 (123 ) 606 Balance as of June 30, 2018 (59,201 ) (1,013 ) (1,487 ) (61,701 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of December 31, 2017 (60,575 ) (1,097 ) (1,348 ) (63,020 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (211 ) (211 ) Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 1,774 110 — 1,884 Income Tax (Expense) or Benefit (400 ) (26 ) 72 (354 ) Other comprehensive income (loss), net of tax 1,374 84 (139 ) 1,319 Balance as of June 30, 2018 (59,201 ) (1,013 ) (1,487 ) (61,701 )

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The Company's Board of Directors has granted stock incentive awards to certain employees and board members pursuant to a long term incentive plan which was approved by the Company's stockholders in May 2005 and in May 2015. Employees have been awarded non-vested stock units with performance conditions, non-vested stock units with market conditions and non-vested restricted stock. The restrictions on the non-vested restricted stock awards lapse at the end of a specified service period, which is typically three years from the date of grant. Restrictions could lapse sooner upon a business combination, death, disability or after an employee qualifies for retirement. The non-vested stock units will be converted into a number of shares of Company stock depending on performance and market conditions at the end of a specified service period, lasting approximately three years. The performance condition awards will be converted into a number of shares of Company stock based on the Company's average return on invested capital during the service period. Similarly, the market condition awards will be converted into a number of shares depending on the appreciation of the Company's stock compared to the NASDAQ Transportation Index. Board members were granted time-based awards with vesting periods of approximately six or twelve months. The Company expects to settle all of the stock unit awards by issuing new shares of stock. The table below summarizes award activity. Six Months Ended June 30, 2018 June 30, 2017 Number of Awards Weighted average grant-date fair value Number of Awards Weighted average grant-date fair value Outstanding at beginning of period 873,849 $ 12.30 1,040,569 $ 9.97 Granted 207,295 26.50 243,940 17.52 Converted (96,616 ) 10.89 (173,210 ) 9.69 Expired (500 ) 28.38 — — Forfeited (2,600 ) 26.76 (3,800 ) 13.66 Outstanding at end of period 981,428 $ 15.39 1,107,499 $ 11.66 Vested 326,928 $ 7.18 324,599 $ 6.39 The average grant-date fair value of each performance condition award, non-vested restricted stock award and time-based award granted by the Company in 2018 was $25.15 , the fair value of the Company’s stock on the date of grant. The average grant-date fair value of each market condition award granted in 2018 was $31.60 . The market condition awards were valued using a Monte Carlo simulation technique, a risk-free interest rate of 2.4% and a volatility of 33.8% based on volatility over three years using daily stock prices. For the six month periods ending June 30, 2018 and 2017, the Company recorded expense of $2.3 million and $1.7 million , respectively, for stock incentive awards. At June 30, 2018 , there was $7.2 million of unrecognized expense related to the stock incentive awards that is expected to be recognized over a weighted-average period of 1.6 years. As of June 30, 2018 , none of the awards were convertible, 326,928 units of the Board members time-based awards had vested and none of the outstanding shares of the restricted stock had vested. These awards could result in a maximum number of 1,216,478 additional outstanding shares of the Company’s common stock depending on service, performance and market results through December 31, 2020.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	COMMON STOCK AND EARNINGS PER SHARE Earnings per Share The calculation of basic and diluted earnings per common share are as follows (in thousands, except per share amounts): Three Months Ending Six Months Ending June 30, June 30, 2018 2017 2018 2017 Numerator: Earnings (loss) from continuing operations - basic $ 24,464 $ (53,918 ) $ 40,146 $ (44,122 ) Gain from stock warrants revaluation, net of tax (10,448 ) — (7,473 ) — Earnings (loss) from continuing operations - diluted $ 14,016 $ (53,918 ) $ 32,673 $ (44,122 ) Denominator: Weighted-average shares outstanding for basic earnings per share 58,739 59,035 58,790 59,084 Common equivalent shares: Effect of stock-based compensation awards and warrants 9,624 — 9,994 — Weighted-average shares outstanding assuming dilution 68,363 59,035 68,784 59,084 Basic earnings per share from continuing operations $ 0.42 $ (0.91 ) $ 0.68 $ (0.75 ) Diluted earnings per share from continuing operations $ 0.21 $ (0.91 ) $ 0.48 $ (0.75 ) The determination of diluted earnings per share requires the exclusion of the fair value re-measurement of the stock warrants recorded as a liability (see Note B), if such warrants have a anti-dilutive effect on earnings per share. The dilutive effect of the weighted-average diluted shares outstanding is calculated using the treasury method for periods in which equivalent shares have a dilutive effect on earnings per share. Under this method, the number of diluted shares is determined by dividing the assumed proceeds of the warrants recorded as a liability by the average stock price during the period and comparing that amount with the number of corresponding warrants outstanding. The underlying warrants recorded as a liability as of June 30, 2017, could result in 13.6 million additional shares of the Company's common stock if the warrants are settled by tendering cash. The number of equivalent shares that were not included in weighted average shares outstanding assuming dilution, because their effect would have been anti-dilutive, were 8.5 million and 7.2 million for the three and six month periods ended June 30, 2017, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Information	SEGMENT AND REVENUE INFORMATION The Company operates in three reportable segments. The CAM segment consists of the Company's aircraft leasing operations and its segment earnings include an allocation of interest expense. The ACMI Services segment consists of the Company's airline operations, including CMI agreements as well as ACMI and charter service agreements that the Company has with its customers. The MRO Services segment provides airframe maintenance services, aircraft modifications and other maintenance services. The MRO Services became reportable during 2018 due to the size of its revenues. Prior periods presented below have been prepared by separating MRO Services from "All other" for comparative purposes. The Company's ground services and other activities, which include the mail and package sorting services, maintenance services for ground equipment, facilities and material handling equipment, the sales of aviation fuel and other services, are not large enough to constitute reportable segments and are combined in All other. Inter-segment revenues are valued at arms-length market rates. Cash and cash equivalents are reflected in Assets - All other below. The Company's segment information for revenue from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2018 2017 2018 2017 Total revenues: CAM $ 54,377 $ 49,530 $ 106,753 $ 97,508 ACMI Services 119,606 144,499 238,980 289,448 MRO Services 45,794 66,336 98,517 106,674 All other 19,730 50,172 39,013 99,040 Eliminate inter-segment revenues (35,900 ) (57,326 ) (76,616 ) (101,542 ) Total $ 203,607 $ 253,211 $ 406,647 $ 491,128 Customer revenues: CAM $ 38,016 $ 32,380 $ 73,903 $ 63,162 ACMI Services 119,589 144,499 238,963 289,448 MRO Services 29,069 31,159 60,009 56,576 All other 16,933 45,173 33,772 81,942 Total $ 203,607 $ 253,211 $ 406,647 $ 491,128 The Company adopted Topic 606 for revenue recognition using a modified retrospective approach, under which financial statements are prepared under the revised guidance for the year of adoption, but not for prior years. The effects of Topic 606 on the Company's customer revenues are summarized below: For the three months ending For the six months ending June 30, 2018 June 30, 2018 Revenue Revenue As Reported Without Topic 606 Increase (decrease) As Reported Without Topic 606 Increase (decrease) ACMI Services $ 119,589 $ 167,724 $ (48,135 ) $ 238,963 $ 336,272 $ (97,309 ) MRO Services 29,069 28,549 520 60,009 54,918 5,091 Other (ground services) 16,933 62,682 (45,749 ) 33,772 130,868 (97,096 ) ACMI Services revenues are generated from airline service agreements and are typically based on hours flown, the amount of aircraft operated and crew resources provided during a month. ACMI Services revenues are recognized over time as flight hours are performed for the customer. Certain agreements include provisions for incentive payments based upon on-time reliability. These incentives are measured on a monthly basis and recorded to revenue in the corresponding month earned. Under CMI agreements, the Company's airlines have an obligation to provide integrated services including flight crews, aircraft maintenance and insurance for the customer's cargo network. Under ACMI agreements, the Company's airlines are also obligated to provide aircraft. Under CMI and ACMI agreements, customers are generally responsible for aviation fuel, landing fees, navigation fees and certain other flight expenses. When functioning as the customers agent for arranging such services, the Company records amounts reimbursable from the customer as revenues net of the related expenses as the costs are incurred. Under charter agreements the Company's airline is obligated to provide full services for one or more flights having specific origins and destinations. Under charter agreements, in which the Company's airline is responsible for fuel, airport fees and all flight services, the related costs are recorded in operating expenses. ACMI Services are invoiced monthly or more frequently. MRO Services revenues for customer contracts for airframe maintenance and aircraft modification services that do not have an alternative use and for which the Company has an enforceable right to payment are generally recognized over time based on the percentage of costs completed. Other MRO Services revenues for aircraft part sales, component repairs and line service are recognized at a point in time typically when the parts are delivered to the customer and the the services are completed. For airframe maintenance, aircraft modifications and aircraft component repairs, contracts include assurance warranties that are not sold separately. Effective January 1, 2018 the Company records revenues and estimated earnings for its airframe maintenance and aircraft modification contracts using the percentage-of-completion cost-to-cost method. For such services, the Company estimates the earnings on a contract as the difference between the expected revenue and estimated costs to complete a contract and recognizes revenues and earnings based on the proportion of costs incurred compared to the total estimated costs. The Company's estimates consider the timing and extent of the services, including the amount and rates of labor, materials and other resources required to perform the services. The Company recognizes adjustments in estimated earnings on a contract under the cumulative catch-up method in which the impact of the adjustment on estimated earnings of a contract is recognized in the period the adjustment is identified. The Company's external customer revenues for providing mail and package sorting services and related equipment maintenance for the three and six month periods ending June 30, 2018 were $16.2 million and $32.3 million , respectively, compared to $44.7 million and $80.9 million for the corresponding periods in 2017. During the three and six month periods ended June 30, 2018 , the Company netted $45.7 million and $97.1 million of customer reimbursable revenues against the related expenses when functioning as the customers agent for arranging ground services, respectively. These revenues are reported in All other. The Company's external customer revenues from providing mail and package sorting services are recognized as the services are performed for the customer over time. Revenues from related equipment maintenance services are recognized over time and at a point in time depending on the nature of the customer contracts. Revenue is not recognized until collectibility of customer payment is probable. For customers that are not a governmental agency or department, the Company generally receives partial payment in advance of services, otherwise customer balances are typically paid within 30 to 60 days of service. For the three and six month periods ended June 30, 2018 , the Company recognized $3.4 million and $8.0 million of non lease revenue that was reported in deferred revenue at the beginning of the respective period. CAM's aircraft lease revenues are recognized as operating lease revenues on a straight-line basis over the term of the applicable lease agreements. Customer payments for leased aircraft and equipment are typically paid monthly in advance. The Company's other segment information from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2018 2017 2018 2017 Depreciation and amortization expense: CAM $ 30,540 $ 26,253 $ 59,465 $ 50,554 ACMI Services 10,327 10,491 20,552 21,563 MRO Services 830 685 1,680 1,359 All other (77 ) 352 (73 ) 747 Total $ 41,620 $ 37,781 $ 81,624 $ 74,223 Segment earnings (loss): CAM $ 15,394 $ 12,795 $ 30,858 $ 26,125 ACMI Services 991 258 4,932 (3,276 ) MRO Services 1,321 11,103 5,783 14,291 All other 2,749 1,400 5,330 3,863 Inter-segment earnings eliminated (1,031 ) (5,958 ) (4,356 ) (6,820 ) Net unallocated interest expense (838 ) (216 ) (1,657 ) (387 ) Net gain (loss) on financial instruments 11,697 (67,649 ) 10,812 (65,780 ) Other non-service components of retiree benefit costs, net 2,045 (177 ) 4,090 (354 ) Loss from non-consolidated affiliate (2,417 ) — (4,953 ) — Pre-tax earnings from continuing operations $ 29,911 $ (48,444 ) $ 50,839 $ (32,338 ) The Company's assets are presented below by segment (in thousands): June 30 December 31 2018 2017 Assets: CAM $ 1,214,986 $ 1,192,890 ACMI Services 190,309 189,379 MRO Services 99,129 87,177 All other 13,050 79,398 Total $ 1,517,474 $ 1,548,844 Interest expense allocated to CAM was $4.5 million and $9.0 million for the three and six month periods ending June 30, 2018, respectively, compared to $3.5 million and $6.9 million for the corresponding periods of 2017.

Summary of Financial Statemen22

Summary of Financial Statement Preparation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed interim consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America and such principles are applied on a basis consistent with the financial statements reflected in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed with the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations promulgated by the SEC related to interim financial statements. In the opinion of management, the accompanying financial statements contain all adjustments, including normal recurring adjustments, necessary for the fair presentation of the Company’s results of operations and financial position for the periods presented. Due to seasonal fluctuations, among other factors common to the air cargo industry, the results of operations for the periods presented are not necessarily indicative of the results of operations to be expected for the entire year or any interim period. The preparation of consolidated financial statements requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements. The accounting estimates reflect the best judgment of management, but actual results could differ materially from those estimates. The accompanying condensed consolidated financial statements include the accounts of Air Transport Services Group, Inc. and its wholly-owned subsidiaries. Investments in affiliates in which the Company has significant influence but does not exercise control are accounted for using the equity method of accounting. Using the equity method, the Company’s share of the nonconsolidated affiliates' income or loss is recognized in the consolidated statement of earnings and cumulative post-acquisition changes in the investment are adjusted against the carrying amount of the investment. Inter-company balances and transactions are eliminated.
New Accounting Pronouncements	Accounting Standards Updates Effective January 1, 2018 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Update ("ASU") No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” ("Topic 606”) which superseded previous revenue recognition guidance. Topic 606 is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The Company's lease revenues within the scope of ASC 840, Leases, are specifically excluded from Topic 606. The Company adopted the standard using a modified retrospective approach, under which financial statements are prepared under the revised guidance for the year of adoption, but not for prior years. Under this method, entities recognize a cumulative catch-up adjustment to the opening balance of retained earnings at the effective date for open contract performance at that time. The Company's adoption efforts included the identification of revenue within the scope of the standard, the evaluation of customer contracts in conjunction with new guidance and an assessment of the qualitative and quantitative impacts of the new standard on its financial statements. The evaluation included the application of each of the five steps identified in the Topic 606 revenue recognition model. The Company determined that under Topic 606, it is an agent for aviation fuel and certain other costs reimbursed by customers under its ACMI and CMI contracts and for certain cargo handling services that it arranges for a customer. Under the new revenue standard, such reimbursed amounts are reported net of the corresponding expenses beginning in 2018. This application of Topic 606 did not have a material impact on the Company's reported earnings in any period. Additionally under Topic 606, the Company is required to record revenue over time, instead of at the time of completion, for certain customer contracts for airframe and modification services that do not have an alternative use and for which the Company has an enforceable right to payment during the service cycle. The Company adopted the provisions of this new standard using the modified retrospective method which requires the Company to record a one time adjustment to retained deficit for the cumulative effect that the standard has on open contracts at the time of adoption. Upon adoption of the new standard the Company accelerated $3.6 million of revenue resulting in an immaterial adjustment to its January 1, 2018 retained deficit for open airframe and modification services contracts. In January 2017, the FASB issued ASU "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" (“ASU 2017-04”). This new standard eliminates Step 2 from the goodwill impairment test and requires an entity to perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. ASU 2017-04 is effective for any annual or interim goodwill impairment tests in the fiscal years beginning after December 15, 2019 and must be applied prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company adopted this new accounting guidance in January of 2018. The adoption did not have an impact on the Company's financial position, results of operations, or cash flows. In March 2017, the FASB issued ASU "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost "(ASU 2017-07"). ASU 2017-07 requires an employer to report the service cost component of retiree benefits in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented separately from the service cost component and outside a subtotal of income from operations. The Company adopted ASU 2017-07 on January 1, 2018, retrospectively to all periods presented. As a result, retiree benefit plan interest expense, investment returns, settlements and other non-service cost components of retiree benefit expenses are excluded from the Company's operating income subtotal as reported in the Company's Consolidated Statement of Operations, but remain included in earnings before income taxes. Information about retiree benefit plans' interest expense, investment returns and other components of retiree benefit expenses can be found in Note I. In February 2016, the FASB issued ASU "Leases (Topic 842)" ("ASU 2016-02"), which will require the recognition of right to-use-assets and lease liabilities for leases previously classified as operating leases by lessees. The standard will take effect for annual reporting periods beginning after December 15, 2018, including interim reporting periods. Early application will be permitted for all entities. In addition, the FASB has decided to require a lessee to apply a modified retrospective transition approach for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements (the date of initial application). The modified retrospective approach would not require any transition accounting for leases that expired before the date of initial application. The Company is currently evaluating the impact of the standard on its financial statements and disclosures. In February 2018, the FASB issued ASU “Reclassification of Certain Tax Effects From Accumulated Other Comprehensive Income" ("ASU 2018-02"). ASU 2018-02 amends ASC 220, Income Statement — Reporting Comprehensive Income, to allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from U.S. federal tax legislation known as the Tax Cuts and Jobs Act. In addition, under the ASU 2018-02, a Company will be required to provide certain disclosures regarding stranded tax effects. ASU 2018-02 is effective for years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the standard on its financial statements and disclosures. In June 2018, the FASB issued ASU “Improvements to Non-employee Share-based Payment Accounting" ("ASU 2018-07"). ASU 2018-07 amends ASC 718, "Compensation - Stock Compensation" ("ASC 718"), to simplify the accounting for share-based payments granted to non-employees for goods and services. ASU 2018-07 supersedes ASC 505-50, "Equity-Based Payments to Non-employees" ("ASC 505-50"). ASU 2018-07 aligns much of the accounting for share-based payments granted to non-employees for goods and services with the accounting for share-based payments granted to employees. ASU 2018-07 is effective for years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. Companies will apply the new guidance to equity-classified non-employee awards for which a measurement date has not been established and liability-classified non-employee awards that have not been settled as of the date of adoption by recognizing a cumulative-effect adjustment to retained earnings as of the beginning of the annual period of adoption. The Company is currently evaluating the impact of the standard on its financial statements and disclosures.

Summary of Financial Statemen23

Summary of Financial Statement Preparation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property, Plant and Equipment	Property and equipment, to be held and used, is summarized as follows (in thousands): June 30, December 31, Flight equipment $ 1,870,120 $ 1,801,808 Ground equipment 54,165 53,523 Leasehold improvements, facilities and office equipment 28,660 26,897 Aircraft modifications and projects in progress 148,999 121,760 2,101,944 2,003,988 Accumulated depreciation (900,947 ) (844,026 ) Property and equipment, net $ 1,200,997 $ 1,159,962

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Lease Incentive Intangible [Table Text Block]	The Company's lease incentive granted to the lessee was as follows (in thousands): Lease Incentive Carrying value as of December 31, 2017 $ 80,684 Amortization (8,452 ) Carrying value as of June 30, 2018 $ 72,232
Schedule of Goodwill	The carrying amounts of goodwill are as follows (in thousands): CAM MRO Services Total Carrying value as of December 31, 2017 $ 34,395 $ 2,884 $ 37,279 Carrying value as of June 30, 2018 $ 34,395 $ 2,884 $ 37,279
Schedule Intangible Assets by Major Class	The Company's acquired intangible assets are as follows (in thousands): Airline Amortizing Certificates Intangibles Total Carrying value as of December 31, 2017 $ 3,000 $ 4,298 $ 7,298 Amortization — (578 ) (578 ) Carrying value as of June 30, 2018 $ 3,000 $ 3,720 $ 6,720

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table reflects assets and liabilities that are measured at fair value on a recurring basis (in thousands): As of June 30, 2018 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 20,835 $ — $ 20,835 Interest rate swap — 4,992 — 4,992 Total Assets $ — $ 25,827 $ — $ 25,827 Liabilities Stock warrant obligations — (203,426 ) — (203,426 ) Total Liabilities $ — $ (203,426 ) $ — $ (203,426 ) As of December 31, 2017 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 1,326 $ — $ 1,326 Interest rate swap — 1,840 — 1,840 Convertible note hedges — 53,683 — 53,683 Total Assets $ — $ 56,849 $ — $ 56,849 Liabilities Note conversion obligations — (54,359 ) — (54,359 ) Stock warrant obligation — (211,136 ) — (211,136 ) Total Liabilities $ — $ (265,495 ) $ — $ (265,495 )

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment, to be held and used, is summarized as follows (in thousands): June 30, December 31, Flight equipment $ 1,870,120 $ 1,801,808 Ground equipment 54,165 53,523 Leasehold improvements, facilities and office equipment 28,660 26,897 Aircraft modifications and projects in progress 148,999 121,760 2,101,944 2,003,988 Accumulated depreciation (900,947 ) (844,026 ) Property and equipment, net $ 1,200,997 $ 1,159,962

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Convertible Debt [Table Text Block]	The carrying value of the Company's Convertible debt is shown below: June 30, December 31, 2018 2017 Principal value, Convertible Senior Notes, due 2024 258,750 258,750 Unamortized issuance costs (6,255 ) (6,685 ) Unamortized discount (51,843 ) (55,515 ) Convertible debt 200,652 196,550
Schedule of Long-term Debt Instruments	Debt obligations consisted of the following (in thousands): June 30, December 31, 2018 2017 Unsubordinated term loan $ 63,061 $ 70,568 Revolving credit facility 257,000 245,000 Aircraft loans — 3,640 Convertible debt 200,652 196,550 Total debt obligations 520,713 515,758 Less: current portion (14,860 ) (18,512 ) Total long term obligations, net $ 505,853 $ 497,246

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedules of Concentration of Risk, by Risk Factor	As of June 30, 2018 , the flight crewmember employees of ABX and ATI and flight attendant employees of ATI were represented by the labor unions listed below: Airline Labor Agreement Unit Percentage of the Company’s Employees ABX International Brotherhood of Teamsters 7.6% ATI Air Line Pilots Association 6.9% ATI Association of Flight Attendants 1.1%

Pension and Other Post-Retire29

Pension and Other Post-Retirement Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The Company’s net periodic benefit costs for its defined benefit pension plans and post-retirement healthcare plans for both continuing and discontinued operations are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, Pension Plans Post-Retirement Healthcare Plan Pension Plans Post-Retirement Healthcare Plan 2018 2017 2018 2017 2018 2017 2018 2017 Service cost $ — $ — $ 30 $ 39 $ — $ — $ 60 $ 78 Interest cost 7,284 8,775 32 36 14,568 17,550 64 72 Expected return on plan assets (10,523 ) (10,930 ) — — (21,046 ) (21,859 ) — — Amortization of prior service cost — — — (13 ) — — — (26 ) Amortization of net (gain) loss 887 1,937 55 71 1,774 3,874 110 142 Net periodic benefit cost (income) $ (2,352 ) $ (218 ) $ 117 $ 133 $ (4,704 ) $ (435 ) $ 234 $ 266

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The table below provides information about the Company’s interest rate swaps (in thousands): June 30, 2018 December 31, 2017 Expiration Date Stated Interest Rate Notional Amount Market Value (Liability) Notional Amount Market Value (Liability) May 5, 2021 1.090 % 31,875 943 35,625 719 May 30, 2021 1.703 % 31,875 570 35,625 240 March 31, 2022 1.900 % 50,000 1,444 50,000 416 March 31, 2022 1.950 % 75,000 2,035 75,000 465

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2018
Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) includes the following items by components for the three and six month periods ending June 30, 2018 and 2017 (in thousands): Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of March 31, 2017 (75,854 ) (1,264 ) (1,440 ) (78,558 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — 152 152 Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 1,937 71 — 2,008 Negative prior service cost — (13 ) — (13 ) Income Tax (Expense) or Benefit (702 ) (21 ) (53 ) (776 ) Other comprehensive income (loss), net of tax 1,235 37 99 1,371 Balance as of June 30, 2017 (74,619 ) (1,227 ) (1,341 ) (77,187 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of December 31, 2016 (77,088 ) (1,301 ) (1,477 ) (79,866 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — 210 210 Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 3,874 142 — 4,016 Negative prior service cost — (26 ) — (26 ) Income Tax (Expense) or Benefit (1,405 ) (42 ) (74 ) (1,521 ) Other comprehensive income (loss), net of tax 2,469 74 136 2,679 Balance as of June 30, 2017 (74,619 ) (1,227 ) (1,341 ) (77,187 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of March 31, 2018 (59,888 ) (1,055 ) (1,364 ) (62,307 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (186 ) (186 ) Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 887 55 — 942 Income Tax (Expense) or Benefit (200 ) (13 ) 63 (150 ) Other comprehensive income (loss), net of tax 687 42 (123 ) 606 Balance as of June 30, 2018 (59,201 ) (1,013 ) (1,487 ) (61,701 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of December 31, 2017 (60,575 ) (1,097 ) (1,348 ) (63,020 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (211 ) (211 ) Amounts reclassified from accumulated other comprehensive income: Actuarial costs (reclassified to non-service costs) 1,774 110 — 1,884 Income Tax (Expense) or Benefit (400 ) (26 ) 72 (354 ) Other comprehensive income (loss), net of tax 1,374 84 (139 ) 1,319 Balance as of June 30, 2018 (59,201 ) (1,013 ) (1,487 ) (61,701 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Equity Instruments Other Than Options, Activity	The table below summarizes award activity. Six Months Ended June 30, 2018 June 30, 2017 Number of Awards Weighted average grant-date fair value Number of Awards Weighted average grant-date fair value Outstanding at beginning of period 873,849 $ 12.30 1,040,569 $ 9.97 Granted 207,295 26.50 243,940 17.52 Converted (96,616 ) 10.89 (173,210 ) 9.69 Expired (500 ) 28.38 — — Forfeited (2,600 ) 26.76 (3,800 ) 13.66 Outstanding at end of period 981,428 $ 15.39 1,107,499 $ 11.66 Vested 326,928 $ 7.18 324,599 $ 6.39

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted earnings per common share are as follows (in thousands, except per share amounts): Three Months Ending Six Months Ending June 30, June 30, 2018 2017 2018 2017 Numerator: Earnings (loss) from continuing operations - basic $ 24,464 $ (53,918 ) $ 40,146 $ (44,122 ) Gain from stock warrants revaluation, net of tax (10,448 ) — (7,473 ) — Earnings (loss) from continuing operations - diluted $ 14,016 $ (53,918 ) $ 32,673 $ (44,122 ) Denominator: Weighted-average shares outstanding for basic earnings per share 58,739 59,035 58,790 59,084 Common equivalent shares: Effect of stock-based compensation awards and warrants 9,624 — 9,994 — Weighted-average shares outstanding assuming dilution 68,363 59,035 68,784 59,084 Basic earnings per share from continuing operations $ 0.42 $ (0.91 ) $ 0.68 $ (0.75 ) Diluted earnings per share from continuing operations $ 0.21 $ (0.91 ) $ 0.48 $ (0.75 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Topic 606 Effect on Revenue by Segment [Table Text Block]	The effects of Topic 606 on the Company's customer revenues are summarized below: For the three months ending For the six months ending June 30, 2018 June 30, 2018 Revenue Revenue As Reported Without Topic 606 Increase (decrease) As Reported Without Topic 606 Increase (decrease) ACMI Services $ 119,589 $ 167,724 $ (48,135 ) $ 238,963 $ 336,272 $ (97,309 ) MRO Services 29,069 28,549 520 60,009 54,918 5,091 Other (ground services) 16,933 62,682 (45,749 ) 33,772 130,868 (97,096 )
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	The Company's segment information for revenue from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2018 2017 2018 2017 Total revenues: CAM $ 54,377 $ 49,530 $ 106,753 $ 97,508 ACMI Services 119,606 144,499 238,980 289,448 MRO Services 45,794 66,336 98,517 106,674 All other 19,730 50,172 39,013 99,040 Eliminate inter-segment revenues (35,900 ) (57,326 ) (76,616 ) (101,542 ) Total $ 203,607 $ 253,211 $ 406,647 $ 491,128 Customer revenues: CAM $ 38,016 $ 32,380 $ 73,903 $ 63,162 ACMI Services 119,589 144,499 238,963 289,448 MRO Services 29,069 31,159 60,009 56,576 All other 16,933 45,173 33,772 81,942 Total $ 203,607 $ 253,211 $ 406,647 $ 491,128
Schedule of Segment Reporting Information, by Segment	The Company's other segment information from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2018 2017 2018 2017 Depreciation and amortization expense: CAM $ 30,540 $ 26,253 $ 59,465 $ 50,554 ACMI Services 10,327 10,491 20,552 21,563 MRO Services 830 685 1,680 1,359 All other (77 ) 352 (73 ) 747 Total $ 41,620 $ 37,781 $ 81,624 $ 74,223 Segment earnings (loss): CAM $ 15,394 $ 12,795 $ 30,858 $ 26,125 ACMI Services 991 258 4,932 (3,276 ) MRO Services 1,321 11,103 5,783 14,291 All other 2,749 1,400 5,330 3,863 Inter-segment earnings eliminated (1,031 ) (5,958 ) (4,356 ) (6,820 ) Net unallocated interest expense (838 ) (216 ) (1,657 ) (387 ) Net gain (loss) on financial instruments 11,697 (67,649 ) 10,812 (65,780 ) Other non-service components of retiree benefit costs, net 2,045 (177 ) 4,090 (354 ) Loss from non-consolidated affiliate (2,417 ) — (4,953 ) — Pre-tax earnings from continuing operations $ 29,911 $ (48,444 ) $ 50,839 $ (32,338 )
Reconciliation of Assets from Segment to Consolidated	The Company's assets are presented below by segment (in thousands): June 30 December 31 2018 2017 Assets: CAM $ 1,214,986 $ 1,192,890 ACMI Services 190,309 189,379 MRO Services 99,129 87,177 All other 13,050 79,398 Total $ 1,517,474 $ 1,548,844

Significant Customers (Details)

Significant Customers (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Mar. 08, 2016
Concentration Risk [Line Items]
Accounts receivable	$ 100,805			$ 100,805		$ 109,114
Fair Value Adjustment of Warrants	$ 10,800		$ (67,300)	$ 7,700	$ (65,600)
DHL [Member] | Revenues from Leases and Contracted Services [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues	28.00%		25.00%	28.00%	26.00%
DHL [Member] | Non reimbursable revenue [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues			30.00%		30.00%
DHL [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 10,700			$ 10,700		15,700
Amazon [Member] | Revenues from Leases and Contracted Services [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues	29.00%		42.00%	29.00%	41.00%
Amazon [Member] | Non reimbursable revenue [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues			26.00%		26.00%
Amazon [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 34,500			$ 34,500		44,200
US Military [Member] | Non reimbursable revenue [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues			10.00%		10.00%
US Military [Member] | Revenues from Services Performed [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues	11.00%		7.00%	11.00%	7.00%
US Military [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 6,000			$ 6,000		$ 6,700
Amazon Warrant [Member]
Concentration Risk [Line Items]
Fair value warrants issued	$ 0			$ 0			$ 0
Class of Warrant or Right, Outstanding	14,830			14,830			7,690
Warrants vested		5,120

Goodwill and Other Intangible36

Goodwill and Other Intangibles (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Carrying value, beginning balance	$ 37,279	$ 37,279
Carrying value, ending balance	37,279
CAM [Member]
Goodwill [Roll Forward]
Carrying value, beginning balance	34,395	34,395
Carrying value, ending balance	34,395
Pemco [Member]
Goodwill [Roll Forward]
Carrying value, beginning balance	2,884	$ 2,884
Carrying value, ending balance	$ 2,884

Goodwill and Other Intangible37

Goodwill and Other Intangibles (Schedule Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
Incentive to Lessee		$ 72,232	$ 80,684
Amortization of Lease Incentives	$ (8,452)
Finite and Indefinite-lived Intangible Assets [Roll Forward]
Carrying value at beginning of period	4,298
Carrying value at beginning of period	7,298
Amortization expense	(578)
Carrying value at end of period	4,298	$ 3,720	$ 4,298
Carrying value at end of period	6,720
ACMI Services [Member] | Airline Certificates [Member]
Finite and Indefinite-lived Intangible Assets [Roll Forward]
Carrying value at beginning of period	3,000
Amortization expense	0
Carrying value at end of period	$ 3,000

Goodwill and Other Intangible38

Goodwill and Other Intangibles Investment in West Atlantic (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 7,700	$ 7,100
Goodwill	37,279	$ 37,279
Investment in West Atlantic [Member]
Schedule of Equity Method Investments [Line Items]
Goodwill	$ 5,500

Goodwill and Other Intangible39

Goodwill and Other Intangibles Investment A321 (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 5.8	$ 5.6

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2018	May 10, 2018	Dec. 31, 2017
Assets, Fair Value Disclosure [Abstract]
Convertible note hedge fair value	$ 0		$ 53,683
Liabilities, Fair Value Disclosure [Abstract]
Note conversion obligation fair value	0		54,359
Warrant liability	203,426		211,136
Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	20,835		1,326
Derivative Asset	4,992		1,840
Convertible note hedge fair value			53,683
Total Assets	25,827		56,849
Liabilities, Fair Value Disclosure [Abstract]
Note conversion obligation fair value			(54,359)
Warrant liability	(203,426)		(211,136)
Total Liabilities	(203,426)		(265,495)
Carrying value, debt	520,700		515,800
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	0		0
Derivative Asset	0		0
Convertible note hedge fair value			0
Total Assets	0		0
Liabilities, Fair Value Disclosure [Abstract]
Note conversion obligation fair value			0
Warrant liability	0		0
Total Liabilities	0		0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	20,835		1,326
Derivative Asset	4,992		1,840
Convertible note hedge fair value		$ 50,559	53,683
Total Assets	25,827		56,849
Liabilities, Fair Value Disclosure [Abstract]
Note conversion obligation fair value		$ (51,285)	(54,359)
Warrant liability	(203,426)		(211,136)
Total Liabilities	(203,426)		(265,495)
Difference between fair value and carrying value, debt	(7,700)		9,100
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	0		0
Derivative Asset	0		0
Convertible note hedge fair value			0
Total Assets	0		0
Liabilities, Fair Value Disclosure [Abstract]
Note conversion obligation fair value			0
Warrant liability	0		0
Total Liabilities	$ 0		$ 0

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 2,101,944	$ 2,003,988
Accumulated depreciation	(900,947)	(844,026)
Property and equipment, net	1,200,997	1,159,962
Flight Equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	1,870,120	1,801,808
Ground equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	54,165	53,523
facilities, leasehold improvements and office equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	28,660	26,897
Construction in Progress [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 148,999	$ 121,760

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
CAM [Member] | Flight Equipment [Member]
Property, Plant and Equipment [Line Items]
Leased aircraft, carrying value	$ 751.1	$ 697.4

Debt Obligations (Schedule of L

Debt Obligations (Schedule of Long Term Obligations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Total long term obligations	$ 520,713	$ 515,758
Convertible Debt	200,652	196,550
Less: current portion	(14,860)	(18,512)
Total long term obligations, net	$ 505,853	497,246
Unsubordinated term loan and Revolving credit facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Collateral, Coverage Percentage	125.00%
Unsubordinated term loan [Member]
Debt Instrument [Line Items]
Total long term obligations	$ 63,061	70,568
Revolving credit facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Accordion Feature Amount			$ 100,000
Total long term obligations	257,000	245,000
line of credit, increase in maximum borrowing capacity			$ 300,000
Aircraft loans [Member]
Debt Instrument [Line Items]
Total long term obligations	$ 0	$ 3,640

Debt Obligations (Schedule of44

Debt Obligations (Schedule of Long Term Debt Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Long-term Debt, Fiscal Year Maturity [Abstract]
Total long term obligations	$ 520,713	$ 515,758

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2018	May 10, 2018	Dec. 31, 2017	Sep. 25, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Long term obligations	$ 520,713		$ 515,758
Debt Issuance Costs, Line of Credit Arrangements, Net	700		700
Convertible Debt	200,652		196,550
Note conversion obligation fair value	0		(54,359)
Convertible note hedge fair value	$ 0		53,683
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	8,100
Unsubordinated term loan and Revolving credit facility [Member]
Debt Instrument [Line Items]
Collateral coverage percentage	125.00%
Unsubordinated term loan [Member]
Debt Instrument [Line Items]
Long term obligations	$ 63,061		70,568
Variable interest rate	3.60%
Revolving credit facility [Member]
Debt Instrument [Line Items]
Long term obligations	$ 257,000		245,000
Accordion feature amount					$ 100,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 545,000
Variable interest rate	3.60%
Credit facility, revolving credit loan, remaining borrowing capacity	$ 278,800
Letters of credit outstanding	9,200
Aircraft loans [Member]
Debt Instrument [Line Items]
Long term obligations	$ 0		3,640
Maximum [Member] | Unsubordinated term loan and Revolving credit facility [Member]
Debt Instrument [Line Items]
Collateral coverage percentage	150.00%
Maximum amount of common stock authorized for repurchase	$ 100,000
Minimum [Member] | Unsubordinated term loan and Revolving credit facility [Member]
Debt Instrument [Line Items]
Collateral coverage percentage	50.00%
Convertible Debt [Member]
Debt Instrument [Line Items]
Convertible Debt	$ 258,750		258,750	$ 258,750
Debt Conversion, Converted Instrument, Rate	0.00%
Convertible note hedge shares				8,111
Debt Instrument, Interest Rate, Effective Percentage	0.00%
Warrants and Rights Outstanding	$ 38,502
Unamortized Debt Issuance Expense	(6,255)		(6,685)
Debt Instrument, Unamortized Discount	$ (51,843)		(55,515)
Fair Value, Measurements, Recurring [Member]
Debt Instrument [Line Items]
Note conversion obligation fair value			54,359
Convertible note hedge fair value			53,683
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Debt Instrument [Line Items]
Note conversion obligation fair value		$ 51,285	54,359
Convertible note hedge fair value		$ 50,559	$ 53,683

Commitments and Contingencies46

Commitments and Contingencies (Commitments) (Details) $ in Millions	Jun. 30, 2018USD ($)
Long-term Purchase Commitment [Line Items]
costs to complete aircraft modification	$ 79.8

Commitments and Contingencies47

Commitments and Contingencies (Labor Unions) (Details) - Workforce Subject to Collective Bargaining Arrangements [Member] - Labor Unions [Member]	12 Months Ended
	Dec. 31, 2016
ABX [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	7.60%
ATI [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	6.90%
Air Transport International, Flight Attendants [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	1.10%

Pension and Other Post-Retire48

Pension and Other Post-Retirement Benefit Plans (Funded Status) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Plans [Member]
Change in benefit obligation [Roll Forward]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	7,284	8,775	14,568	17,550
Change in plan assets [Roll Forward]
Employer contributions			1,787
Post-Retirement Healthcare Plans [Member]
Change in benefit obligation [Roll Forward]
Service cost	30	39	60	78
Interest cost	$ 32	$ 36	$ 64	$ 72

Pension and Other Post-Retire49

Pension and Other Post-Retirement Benefit Plans (Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Plans [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	7,284	8,775	14,568	17,550
Expected return on plan assets	(10,523)	(10,930)	(21,046)	(21,859)
Amortization of prior service cost	0	0	0	0
Amortization of net (gain) loss	887	1,937	1,774	3,874
Net periodic benefit cost (income)	(2,352)	(218)	(4,704)	(435)
Post-Retirement Healthcare Plans [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	30	39	60	78
Interest cost	32	36	64	72
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	(13)	0	(26)
Amortization of net (gain) loss	55	71	110	142
Net periodic benefit cost (income)	$ 117	$ 133	$ 234	$ 266

Pension and Other Post-Retire50

Pension and Other Post-Retirement Benefit Plans (Cash Flows) (Details) - Pension Plans [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 1,787
Estimated future employer contributions	$ 20,700

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	6 Months Ended
	Jun. 30, 2018Rate
Income Tax Disclosure [Line Items]
Effective Income Tax Rate Reconciliation, Deduction, Employee Stock Ownership Plan Dividend, Percent	24.30%
Effective Income Tax Rate Reconciliation, Percent	(21.03%)

Income Taxes (Income Tax Provis

Income Taxes (Income Tax Provision (Benefit)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Deferred taxes:
Total income tax expense from continuing operations	$ 5,447	$ 5,474	$ (10,693)	$ (11,784)

Income Taxes (Tax Rate Reconcil

Income Taxes (Tax Rate Reconciliation) (Details)	6 Months Ended
	Jun. 30, 2018Rate
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Effective income tax rate	(21.03%)

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) shares in Thousands, number in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	May 10, 2018	Dec. 31, 2017	Sep. 25, 2017
Derivative [Line Items]
Pre-tax (charge) on derivative instruments	$ 11,697	$ (67,649)	$ 10,812	$ (65,780)
Net (gain) loss on financial instruments			(3,152)	$ 154
Convertible note hedge fair value	$ 0		0			$ 53,683
gain/loss convertible debt hedge asset and note obligation valuation			$ (100)
May 30, 2021 [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	0.00%		0.00%
Market Value (Liability)	$ (570)		$ (570)			(240)
Derivative Liability, Notional Amount	$ 31,875		$ 31,875			35,625
May 5, 2021 [Member] [Member] [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	0.00%		0.00%
Market Value (Liability)	$ (943)		$ (943)			(719)
Derivative Liability, Notional Amount	$ 31,875		$ 31,875			35,625
March 31, 2022 One [Member] [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	0.00%		0.00%
Market Value (Liability)	$ (1,444)		$ (1,444)			(416)
Derivative Liability, Notional Amount	$ 50,000		$ 50,000			50,000
March 31, 2022 Two [Member] [Member] [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	0.00%		0.00%
Market Value (Liability)	$ (2,035)		$ (2,035)			(465)
Derivative Liability, Notional Amount	$ 75,000		$ 75,000			75,000
Convertible Debt [Member]
Derivative [Line Items]
Convertible note hedge shares							8,111
Fair Value, Measurements, Recurring [Member]
Derivative [Line Items]
Convertible note hedge fair value						53,683
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative [Line Items]
Convertible note hedge fair value					$ 50,559	$ 53,683

Accumulated Other Comprehensi55

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Schedule of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (1,487)	$ (1,341)	$ (1,487)	$ (1,341)	$ (1,364)	$ (1,348)	$ (1,440)	$ (1,477)
Accumulated other comprehensive income (loss), beginning balance	(62,307)	(78,558)	(63,020)	(79,866)
Other comprehensive income (loss) before reclassifications:
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	(186)	152	(211)	210
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	63	(53)	72	(74)
Amounts reclassified from accumulated other comprehensive income:
Actuarial costs (reclassified to salaries, wages and benefits)	942	2,008	1,884	4,016
Negative prior service cost (reclassified to salaries, wages and benefits)		(13)		(26)
Income Tax (Expense) or Benefit	(150)	(776)	(354)	(1,521)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(123)	99	(139)	136
Other comprehensive income (loss), net of tax		1,371
Accumulated other comprehensive income (loss), ending balance	(61,701)	(77,187)	(61,701)	(77,187)
Total comprehensive income (loss)	25,240	(52,355)	41,831	(41,059)
Pension Plans [Member]
Schedule of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(59,888)	(75,854)	(60,575)	(77,088)
Amounts reclassified from accumulated other comprehensive income:
Actuarial costs (reclassified to salaries, wages and benefits)	887	1,937	1,774	3,874
Income Tax (Expense) or Benefit	(200)	(702)	(400)	(1,405)
Other comprehensive income (loss), net of tax	687	1,235	1,374	2,469
Accumulated other comprehensive income (loss), ending balance	(59,201)	(74,619)	(59,201)	(74,619)
Post-Retirement Plans [Member]
Schedule of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(1,055)	(1,264)	(1,097)	(1,301)
Amounts reclassified from accumulated other comprehensive income:
Actuarial costs (reclassified to salaries, wages and benefits)	55	71	110	142
Negative prior service cost (reclassified to salaries, wages and benefits)		(13)		(26)
Income Tax (Expense) or Benefit	(13)	(21)	(26)	(42)
Other comprehensive income (loss), net of tax	42	37	84	74
Accumulated other comprehensive income (loss), ending balance	(1,013)	$ (1,227)	(1,013)	(1,227)
AOCI Attributable to Parent [Member]
Amounts reclassified from accumulated other comprehensive income:
Total comprehensive income (loss)	$ 606		$ 1,319	$ 2,679

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period (in shares)	873,849	1,040,569
Granted (in shares)	207,295	243,940
Converted (in shares)	(96,616)	(173,210)
Expired (in shares)	(500)	0
Forfeited (in shares)	(2,600)	(3,800)
Outstanding at end of period (in shares)	981,428	1,107,499	1,040,569
Vested (in shares)	326,928	324,599
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning of period, Weighted average grant-date fair value (in dollars per share)	$ 12.30	$ 9.97
Granted, Weighted average grant-date fair value (in dollars per share)	26.50	17.52
Converted, Weighted average grant-date fair value (in dollars per share)	10.89	9.69
Expired, Weighted average grant-date fair value (in dollars per share)	28.38	0
Forfeited, Weighted average grant-date fair value (in dollars per share)	26.76	13.66
Outstanding at end of period, Weighted average grant-date fair value (in dollars per share)	15.39	11.66	$ 9.97
Vested (in dollars per share)	$ 7.18	$ 6.39
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Share-based compensation expense	$ 2.3	$ 1.7
Unrecognized share-based compensation expense	$ 7.2
Unrecognized share-based compensation, weighted average recognition period	1 year 7 months
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Historical volatility period	3 years		3 years	3 years
Risk-free interest rate	2.40%
Expected volatility rate	33.80%
Market Condition Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, Weighted average grant-date fair value (in dollars per share)	$ 31.60
Performance Condition Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, Weighted average grant-date fair value (in dollars per share)	$ 25.15
Time-Based Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Number of additional outstanding shares issued (in shares)	1,216,478
Director [Member] | Time-Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vested (in shares)	326,928
Director [Member] | Time-Based Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	6 months
Director [Member] | Time-Based Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	12 months

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share Reconciliation [Abstract]
Earnings from continuing operations	$ 24,464	$ (53,918)	$ 40,146	$ (44,122)
Fair Value Adjustment of Warrants, net of tax	(10,448)	0	(7,473)	0
Undistributed Continuing Operation Earnings (Loss), Diluted	$ 14,016	$ (53,918)	$ 32,673	$ (44,122)
Weighted-average shares outstanding for basic earnings per share (in shares)	58,739	59,035	58,790	59,084
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	8,100		8,100
Weighted Average Number Diluted Shares Outstanding Adjustment		8,500		7,200
Common equivalent shares:
Effect of stock-based compensation awards (in shares)	9,624	0	9,994	0
Basic earnings per share from continuing operations (in dollars per share)	$ 0.42	$ (0.91)	$ 0.68	$ (0.75)
Diluted earnings per share from continuing operations (in dollars per share)	$ 0.21	$ (0.91)	$ 0.48	$ (0.75)
Amazon Warrant [Member]
Earnings Per Share Reconciliation [Abstract]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		13,600		13,600

Segment Information (Segment Re

Segment Information (Segment Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
REVENUES	$ 203,607	$ 253,211	$ 406,647	$ 491,128
Customer revenues	203,607	253,211	406,647	491,128
Depreciation and amortization expense	41,620	37,781	81,624	74,223
Inter-segment earnings eliminated	(1,031)	(5,958)	(4,356)	(6,820)
Net unallocated interest expense	(5,366)	(3,759)	10,728	7,307
Net gain (loss) on financial instruments	11,697	(67,649)	10,812	(65,780)
non-service components of retiree costs	2,045	(177)	4,090	(354)
Pre-tax earnings from continuing operations	29,911	(48,444)	50,839	(32,338)
Assets	1,517,474		1,517,474		$ 1,548,844
Deferred Revenue, Revenue Recognized	3,400		8,000
Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	203,607	253,211	406,647	491,128
Customer revenues	203,607	253,211	406,647	491,128
CAM [Member]
Segment Reporting Information [Line Items]
REVENUES	54,377	49,530	106,753	97,508
Customer revenues	54,377	49,530	106,753	97,508
Depreciation and amortization expense	30,540	26,253	59,465	50,554
Segment earnings (loss)	15,394	12,795	30,858	26,125
Net unallocated interest expense	(4,500)	(3,500)	(9,000)	(6,900)
Assets	1,214,986		1,214,986		1,192,890
CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	38,016	32,380	73,903	63,162
Customer revenues	38,016	32,380	73,903	63,162
ACMI Services [Member]
Segment Reporting Information [Line Items]
REVENUES	119,606	144,499	238,980	289,448
Customer revenues	119,606	144,499	238,980	289,448
Depreciation and amortization expense	10,327	10,491	20,552	21,563
Segment earnings (loss)	991	258	4,932	(3,276)
Assets	190,309		190,309		189,379
ACMI Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	119,589	144,499	238,963	289,448
Customer revenues	119,589	144,499	238,963	289,448
MRO Services [Member]
Segment Reporting Information [Line Items]
REVENUES	45,794	66,336	98,517	106,674
Customer revenues	45,794	66,336	98,517	106,674
Depreciation and amortization expense	830	685	1,680	1,359
Segment earnings (loss)	1,321	11,103	5,783	14,291
Assets	99,129		99,129		87,177
MRO Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	29,069	31,159	60,009	56,576
Customer revenues	29,069	31,159	60,009	56,576
All other [Member]
Segment Reporting Information [Line Items]
REVENUES	19,730	50,172	39,013	99,040
Customer revenues	19,730	50,172	39,013	99,040
Depreciation and amortization expense	(77)	352	(73)	747
Segment earnings (loss)	2,749	1,400	5,330	3,863
Assets	13,050		13,050		$ 79,398
All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	16,933	45,173	33,772	81,942
Customer revenues	16,933	45,173	33,772	81,942
Significant Reconciling Items [Member]
Segment Reporting Information [Line Items]
Net unallocated interest expense	(838)	(216)	(1,657)	(387)
Non-operating charges from a non-consolidating affiliate	(2,417)	0	(4,953)	0
Eliminate inter-segment revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	(35,900)	(57,326)	(76,616)	(101,542)
Customer revenues	(35,900)	(57,326)	(76,616)	(101,542)
Customer Revenues [Member] | ACMI Services [Member]
Segment Reporting Information [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(48,135)		(97,309)
Customer Revenues [Member] | MRO Services [Member]
Segment Reporting Information [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	520		5,091
Customer Revenues [Member] | All other [Member]
Segment Reporting Information [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(45,749)		(97,096)
Customer Revenues [Member] | ACMI Services [Member]
Segment Reporting Information [Line Items]
REVENUES	167,724		336,272
Customer revenues	167,724		336,272
Customer Revenues [Member] | MRO Services [Member]
Segment Reporting Information [Line Items]
REVENUES	28,549		54,918
Customer revenues	28,549		54,918
Customer Revenues [Member] | All other [Member]
Segment Reporting Information [Line Items]
REVENUES	62,682		130,868
Customer revenues	62,682		130,868
Ground Services [Member] | All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	16,159	44,650	32,314	80,949
Customer revenues	$ 16,159	$ 44,650	$ 32,314	$ 80,949

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2018USD ($)	Mar. 31, 2018segments	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Deferred Revenue, Revenue Recognized	$ 3,400			$ 8,000
REVENUES	203,607		$ 253,211	406,647	$ 491,128
Number of reportable segments (in segments) | segments		3
Interest expense	5,366		3,759	(10,728)	(7,307)
Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	203,607		253,211	406,647	491,128
ACMI Services [Member]
Segment Reporting Information [Line Items]
REVENUES	119,606		144,499	238,980	289,448
ACMI Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	119,589		144,499	238,963	289,448
Other Segments [Member]
Segment Reporting Information [Line Items]
REVENUES	19,730		50,172	39,013	99,040
Other Segments [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	16,933		45,173	33,772	81,942
CAM [Member]
Segment Reporting Information [Line Items]
REVENUES	54,377		49,530	106,753	97,508
Interest expense	4,500		3,500	9,000	6,900
CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	38,016		32,380	73,903	63,162
Ground Services [Member] | Other Segments [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	$ 16,159		$ 44,650	$ 32,314	$ 80,949

Segment Information (Entity-Wid

Segment Information (Entity-Wide Disclosures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Interest Expense	$ 5,366	$ 3,759	$ (10,728)	$ (7,307)
Customer revenues	203,607	253,211	406,647	491,128
Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues	203,607	253,211	406,647	491,128
CAM [Member]
Segment Reporting Information [Line Items]
Interest Expense	4,500	3,500	9,000	6,900
Customer revenues	54,377	49,530	106,753	97,508
CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues	38,016	32,380	73,903	63,162
All other [Member]
Segment Reporting Information [Line Items]
Customer revenues	19,730	50,172	39,013	99,040
All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues	16,933	45,173	33,772	81,942
Ground Services [Member] | All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues	$ 16,159	$ 44,650	$ 32,314	$ 80,949

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Fair Value Adjustment of Warrants	$ 10,800	$ (67,300)	$ 7,700	$ (65,600)
REVENUES	203,607	253,211	406,647	491,128
Net earnings (loss) from continuing operations	24,464	(53,918)	40,146	(44,122)
EARNINGS FROM DISCONTINUED OPERATIONS, NET OF TAXES	$ 170	$ 192	$ 366	$ 384
Weighted average shares:
Basic (in shares)	58,739	59,035	58,790	59,084
Diluted (in shares)	68,363	59,035	68,784	59,084
Earnings per share from continuing operations
Basic (in dollars per share)	$ 0.42	$ (0.91)	$ 0.68	$ (0.75)
Diluted (in dollars per share)	$ 0.21	$ (0.91)	$ 0.48	$ (0.75)
ACMI Services [Member]
REVENUES	$ 119,606	$ 144,499	$ 238,980	$ 289,448