Air Transport Services (ATSG) 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	000-50368
Entity Registrant Name	Air Transport Services Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1631624
Entity Address, Address Line One	145 Hunter Drive
Entity Address, City or Town	Wilmington
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45177
City Area Code	937
Local Phone Number	382-5591
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ATSG
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		59,362,770
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Central Index Key	0000894081

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash, cash equivalents and restricted cash	$ 54,784	$ 59,322
Accounts receivable, net of allowance of $2,716 in 2019 and $1,444 in 2018	128,514	147,755
Inventory	36,477	33,536
Prepaid supplies and other	19,092	18,608
TOTAL CURRENT ASSETS	238,867	259,221
Property and equipment, net	1,650,612	1,555,005
Lease incentive	155,605	63,780
Other assets	67,285	57,220
Goodwill and acquired intangibles	533,371	535,359
Operating lease assets	57,576	0
Intangibles	137,397	144,614
Goodwill	395,974	390,745
TOTAL ASSETS	2,703,316	2,470,585
CURRENT LIABILITIES:
Accounts payable	122,092	109,843
Accrued salaries, wages and benefits	49,068	50,932
Accrued expenses	14,212	19,623
Current portion of debt obligations	39,236	29,654
Current portion of lease obligations	15,770	0
Unearned revenue	18,637	19,082
TOTAL CURRENT LIABILITIES	259,015	229,134
Long term debt	1,402,782	1,371,598
Post-retirement obligations	59,738	64,485
Long term lease obligations	40,573	0
Other liabilities	50,882	51,905
Stock Warrants	401,441	203,782
Deferred income taxes	118,076	113,243
TOTAL LIABILITIES	2,332,507	2,034,147
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; 150,000,000 shares authorized; 59,363,839 and 59,134,173 shares issued and outstanding in 2019 and 2018, respectively	594	591
Additional paid-in capital	473,053	471,158
Accumulated earnings (deficit)	(19,243)	56,051
Accumulated other comprehensive loss	(83,595)	(91,362)
TOTAL STOCKHOLDERS’ EQUITY	370,809	436,438
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 2,703,316	$ 2,470,585

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets, Current [Abstract]
Allowance for doubtful accounts	$ 2,716	$ 1,444
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	110,000,000
Common stock, shares issued (in shares)	59,363,839	59,134,173
Common stock, shares outstanding (in shares)	59,363,839	59,134,173
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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES	$ 334,576	$ 203,607	$ 682,759	$ 406,647
OPERATING EXPENSES
Salaries, wages and benefits	97,850	74,049	197,191	144,832
Fuel	33,984	5,913	68,734	11,701
Maintenance, materials and repairs	39,651	36,817	84,389	73,683
Depreciation and amortization	63,266	41,620	125,903	81,624
Travel	20,937	7,288	41,035	13,920
Contracted ground and aviation services	14,531	2,444	30,129	4,828
Rent	3,984	3,760	7,737	6,990
Landing and ramp	2,391	1,311	5,439	2,459
Insurance	1,857	1,420	3,768	2,777
Transaction fees	0	0	373	0
Other operating expenses	18,643	5,087	34,051	12,292
Operating Expenses	297,094	179,709	598,749	355,106
OPERATING INCOME	37,482	23,898	84,010	51,541
OTHER INCOME (EXPENSE)
Interest income	81	54	177	77
Non-service component of retiree benefit costs	(2,351)	2,045	(4,702)	4,090
Non-service component of retiree benefit (costs) credits	(16,804)	(5,366)	34,194	10,728
Net gain (loss) on financial instruments	(35,886)	11,697	(31,386)	10,812
Loss from non-consolidated affiliate			9,814	4,953
Other Nonoperating Income (Expense)	(60,958)	6,013	(79,919)	(702)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(23,476)	29,911	4,091	50,839
INCOME TAX EXPENSE		(5,447)	8,089	10,693
EARNINGS (LOSS) FROM CONTINUING OPERATIONS	(26,632)	24,464	(3,998)	40,146
EARNINGS FROM DISCONTINUED OPERATIONS, NET OF TAXES	31	170	62	366
NET EARNINGS (LOSS)	$ (26,601)	$ 24,634	$ (3,936)	$ 40,512
BASIC EARNINGS PER SHARE
Basic earnings per share from continuing operations (in dollars per share)	$ (0.45)	$ 0.42	$ (0.07)	$ 0.68
Discontinued operations (in dollars per share)	0	0	0	0.01
TOTAL BASIC EARNINGS PER SHARE (in dollars per share)	(0.45)	0.42	(0.07)	0.69
DILUTED EARNINGS PER SHARE
Diluted earnings per share from continuing operations (in dollars per share)	(0.45)	0.21	(0.07)	0.48
Discontinued operations (in dollars per share)	0	0	0	0
TOTAL DILUTED NET EARNINGS PER SHARE (in dollars per share)	$ (0.45)	$ 0.21	$ (0.07)	$ 0.48
WEIGHTED AVERAGE SHARES
Basic (in shares)	58,909	58,739	58,874	58,790
Diluted (in shares)	58,909	68,363	58,874	68,784

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
NET EARNINGS	$ (26,601)	$ 24,634	$ (3,936)	$ 40,512
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1,479	(123)	1,474	(139)
OTHER COMPREHENSIVE INCOME (LOSS):
TOTAL COMPREHENSIVE INCOME, net of tax	(21,813)	25,240	3,831	41,831
Pension Plans [Member]
Other comprehensive income (loss), net of tax	3,273	687	6,224	1,374
OTHER COMPREHENSIVE INCOME (LOSS):
Income tax (expense) or benefit	(609)	(200)	(1,540)	(400)
Post-Retirement Plans [Member]
Other comprehensive income (loss), net of tax	36	42	69	84
OTHER COMPREHENSIVE INCOME (LOSS):
Income tax (expense) or benefit	(7)	(13)	(17)	(26)
Retained Earnings [Member]
NET EARNINGS		$ 24,634
OTHER COMPREHENSIVE INCOME (LOSS):
TOTAL COMPREHENSIVE INCOME, net of tax	$ (26,601)		$ (3,936)	$ 40,512

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Purchase of common stock	$ 0	$ (3,581)
Withholding taxes paid for conversion of employee stock awards	1,496	1,329
OPERATING ACTIVITIES:
Net earnings (loss) from continuing operations	(3,998)	40,146
Net earnings from discontinued operations	62	366
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	139,516	94,270
Pension and post-retirement	7,850	1,884
Deferred income taxes	8,021	10,475
Amortization of stock-based compensation	3,394	2,304
Net (gain) loss on financial instruments	10,700	(3,200)
Changes in assets and liabilities:
Accounts receivable	21,235	11,006
Inventory and prepaid supplies	(4,242)	3,433
Accounts payable	(3,899)	(2,067)
Unearned revenue	896	(1,504)
Accrued expenses, salaries, wages, benefits and other liabilities	1,874	(3,406)
Pension and post-retirement assets	(4,747)	(8,323)
Other	2,281	(742)
NET CASH PROVIDED BY OPERATING ACTIVITIES	209,443	141,983
Loss from non-consolidated affiliates	9,814	4,953
INVESTING ACTIVITIES:
Expenditures for property and equipment	(216,769)	(150,816)
Proceeds from property and equipment	78	17,452
Investment in nonconsolidated affiliate	(18,429)	(5,150)
NET CASH (USED IN) INVESTING ACTIVITIES	(235,120)	(138,514)
FINANCING ACTIVITIES:
Principal payments on long term obligations	(15,938)	(29,140)
Other financing payments	(346)	0
Proceeds from borrowings	40,000	30,000
Payments for financing costs	(1,081)	414
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	21,139	(4,464)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(4,538)	(995)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	59,322	32,699
CASH AND CASH EQUIVALENTS AT END OF PERIOD	54,784	31,704
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid, net of amount capitalized	30,338	6,450
Income taxes paid	533	806
SUPPLEMENTAL NON-CASH INFORMATION:
Accrued expenditures for property and equipment	26,601	18,755
Net (gain) loss on financial instruments	$ (31,386)	$ 10,812

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at at Dec. 31, 2017	$ 395,279	$ 591	$ 471,456	$ (13,748)	$ (63,020)
Balance at (in shares) at Dec. 31, 2017		59,057,195
Stock-based compensation plans
Grant of restricted stock	0	$ 1	(1)
Grant of restricted stock (in shares)		101,400
Issuance of common shares, net of withholdings	(1,332)	$ 1	(1,333)
Withholdings of common shares, net of issuances (in shares)		80,092
Forfeited restricted stock	0	$ 0	0
Stock Repurchased and Retired During Period, Shares		(157,000)
Stock Repurchased and Retired During Period, Value	(3,580)	$ (2)	(3,578)
Bond hedge reclassification	(50,435)		(50,435)
Note conversion obligation reclassification	50,999		50,999
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Accounting Standards Update 2014-09 [Member]	514			514
Forfeited restricted stock (in shares)		(1,300)
Amortization of stock awards and restricted stock	2,304		2,304
NET EARNINGS	40,512
Total comprehensive income (loss)	41,831			40,512	1,319
Balance at at Jun. 30, 2018	435,580	$ 591	469,412	27,278	(61,701)
Balance at (in shares) at Jun. 30, 2018		59,080,387
Balance at at Mar. 31, 2018	408,498	$ 591	467,570	2,644	(62,307)
Balance at (in shares) at Mar. 31, 2018		59,080,512
Stock-based compensation plans
Issuance of common shares, net of withholdings	(12)	$ 0	(12)
Withholdings of common shares, net of issuances (in shares)		1,175
Bond hedge reclassification	(50,435)		(50,435)
Note conversion obligation reclassification	50,999		50,999
Amortization of stock awards and restricted stock	1,290		1,290
NET EARNINGS	24,634			24,634
Total comprehensive income (loss)	25,240
Other comprehensive income (loss), net of tax					606
Balance at at Jun. 30, 2018	435,580	$ 591	469,412	27,278	(61,701)
Balance at (in shares) at Jun. 30, 2018		59,080,387
Balance at at Dec. 31, 2018	$ 436,438	$ 591	471,158	56,051	(91,362)
Balance at (in shares) at Dec. 31, 2018	59,134,173	59,134,173
Stock-based compensation plans
Grant of restricted stock	$ 0	$ 2	(2)
Grant of restricted stock (in shares)		143,800
Issuance of common shares, net of withholdings	(1,496)	$ 1	(1,497)
Withholdings of common shares, net of issuances (in shares)		87,166
Forfeited restricted stock	0	$ 0	0
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | Accounting Standards Update 2018-07 [Member]	(71,358)			(71,358)
Forfeited restricted stock (in shares)		(1,300)
Amortization of stock awards and restricted stock	3,394		3,394
NET EARNINGS	(3,936)
Total comprehensive income (loss)	3,831			(3,936)	7,767
Balance at at Jun. 30, 2019	$ 370,809	$ 594	473,053	(19,243)	(83,595)
Balance at (in shares) at Jun. 30, 2019	59,363,839	59,363,839
Balance at at Mar. 31, 2019	$ 390,814	$ 594	471,245	7,358	(88,383)
Balance at (in shares) at Mar. 31, 2019		59,351,326
Stock-based compensation plans
Grant of restricted stock	0	$ 0	0
Grant of restricted stock (in shares)		18,600
Issuance of common shares, net of withholdings	(112)	$ 0	(112)
Withholdings of common shares, net of issuances (in shares)		(4,787)
Forfeited restricted stock	0	$ 0	0
Forfeited restricted stock (in shares)		(1,300)
Amortization of stock awards and restricted stock	1,920		1,920
NET EARNINGS	(26,601)
Total comprehensive income (loss)	(21,813)			(26,601)	4,788
Balance at at Jun. 30, 2019	$ 370,809	$ 594	$ 473,053	$ (19,243)	$ (83,595)
Balance at (in shares) at Jun. 30, 2019	59,363,839	59,363,839

Summary of Financial Statement

Summary of Financial Statement Preparation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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 lease aircraft, provide contracted airline operations, ground services, aircraft modification and maintenance services and other support services mainly to the air transportation and package delivery industries. 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”), Air Transport International, Inc. (“ATI”), Omni Air International LLC ("OAI" ) 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 provides air transportation services to a concentrated base of customers. The Company provides a combination of aircraft, crews, maintenance and insurance services for a customer's transportation network through customer "CMI" and "ACMI" agreements and through charter contracts in which aircraft fuel is also included. In addition to its aircraft leasing and airline services the Company sells aircraft parts, provides aircraft maintenance and modification services, equipment maintenance services and arranges load transfer and package sorting services for customers. Basis of Presentation The financial statements of the Company are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). 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, 2018 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. Under the equity method, the Company’s share of the nonconsolidated affiliate's 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. On November 9, 2018, the Company acquired OAI, a passenger airline, along with related entities Advanced Flight Services, LLC; Omni Aviation Leasing, LLC; and T7 Aviation Leasing, LLC (referred to collectively herein as "Omni"). OAI is a leading provider of contracted passenger airlift for the U.S. Department of Defense ("DoD") via the Civil Reserve Air Fleet ("CRAF") program, and a provider of full-service passenger charter and ACMI services. OAI carries passengers worldwide for a variety of private sector customers and other government services agencies. Revenues and operating expenses include the activities of Omni for periods since their acquisition by the Company on November 9, 2018. On February 1, 2019, the Company acquired TriFactor Solutions, LLC along with a group of companies that had been under under common control (referred to as "Trifactor"). Trifactor resells material handling equipment and provides engineering design solutions for warehousing, retail distribution and e-commerce operations. Revenues and operating expenses include the activities of TriFactor for periods since its acquisition by the Company. The acquisition of TriFactor did not have a significant impact on the Company's financial statements or results of operations. 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 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 Accounting Standards Codification 840, Leases, ("Topic 840") are specifically excluded from Topic 606. 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. Effective January 1, 2019 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Update No. 2016-02, “Leases (Topic 842)” which superseded previous lease guidance ASC 840, Leases. Topic 842 is a new lease model that requires a company to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet. The Company adopted the standard using the modified retrospective approach that does not require the restatement of prior year financial statements. The adoption of Topic 842 did not have a material impact on the Company’s consolidated income statement or consolidated cash flow statement. The adoption of Topic 842 resulted in the recognition of ROU assets and corresponding lease liabilities as of January 1, 2019 in the amount of $52.6 million for leases classified as operating leases. Topic 842 also applies to the Company's aircraft lease revenues, however, the adoption of Topic 842 did not have a significant impact on the Company's accounting for its customer lease agreements. The Company adopted the package of practical expedients and transition provisions available for expired or existing contracts, which allowed the Company carryforward its historical assessments of 1) whether contracts are or contain leases, 2) lease classification and 3) initial direct costs. Additionally, for real estate leases, the Company adopted the practical expedient that allows lessees to treat the lease and non-lease components of leases as a single lease component. The Company also elected the hindsight practical expedient to determine the reasonably certain lease term for existing leases. Further, the Company elected the short-term lease exception policy, permitting it to exclude the recognition requirements for leases with terms of 12 months or less. See Note H for additional information about leases. In February 2018, the FASB issued ASU No. 2018-02 “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. ASU 2018-02 is effective for years beginning after December 15, 2018, and interim periods within those fiscal years. The Company elected to retain stranded tax effects in accumulated other comprehensive income. In June 2018, the FASB issued ASU No. 2018-07 “Improvements to Non-employee Share-based Payment Accounting" ("ASU 2018-07"). ASU 2018-07 amends ASC 718, "Compensation - Stock Compensation" ("ASC 718"), with the intent of simplifying the accounting for share-based payments granted to non-employees for goods and services and aligning the accounting for share-based payments granted to non-employees with the accounting for share-based payments granted to employees. The Company adopted ASU 2018-07 on January 1, 2019 using the modified retrospective approach as required. ASU 2018-07 replaced ASC 505-50, "Equity-Based Payments to Non-employees" ("ASC 505-50") which was previously applied by the Company for warrants granted to Amazon.com, Inc. ("Amazon") as customer incentives. As a result of ASU 2018-07, the Company applied accounting guidance for financial instruments to the unvested warrants conditionally granted to Amazon in conjunction with an investment agreement reached with Amazon on December 22, 2018. Applying ASU 2018-07 as of January 1, 2019, through the modified retrospective approach, resulted in the recognition of $176.9 million for unvested warrant liabilities, $100.1 million for customer incentive assets and cumulative-effect adjustments of $71.4 million to reduce retained earnings for customer incentives that were not probable of being realized.

Significant Customers

Significant Customers	6 Months Ended
	Jun. 30, 2019
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 15% and 15% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2019, respectively, compared to 28% and 28% for the corresponding periods of 2018. The Company’s balance sheets include accounts receivable with DHL of $11.0 million and $13.4 million as of June 30, 2019 and December 31, 2018, respectively. The Company leases Boeing 767 aircraft to DHL under both long-term and short-term lease agreements. Leases for eleven Boeing 767 aircraft run through March and April 2022. Under a 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 an original term of five years and eight Boeing 767-300 freighter aircraft for an original 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 had an original term of five years. 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 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. On December 22, 2018 the Company announced agreements with Amazon to 1) lease and operate ten additional Boeing 767-300 aircraft for ASI, 2) extend the term of the 12 Boeing 767-200 aircraft currently leased to ASI by two years to 2023 with an option for three more years, 3) extend the term of the eight Boeing 767-300 aircraft currently leased to ASI by three years to 2026 and 2027 with an option for three more years.and 4) amend and extend the ATSA by five years through March 2026, with an option to extend for an additional three years. The Company plans to deliver five of the 767-300 aircraft in 2019, the first of which was leased during the second quarter, and the remainder in 2020. All ten of these aircraft leases will be for ten years. In conjunction with the commitment for ten additional 767 aircraft leases, extensions of twenty existing Boeing 767 aircraft leases and the ATSA described above, Amazon and the Company entered another Investment Agreement on December 20, 2018. Pursuant to the 2018 Investment Agreement, Amazon will be issued warrants for up to14.8 million common shares which could expand its potential ownership in the Company to approximately 33.2%, including the warrants described above for the 2016 agreements. These new warrants will vest as existing leases are extended and additional aircraft leases are executed and added to the ATSA operations. These new warrants will expire if not exercised within seven years from their issuance date. They have an exercise price of $21.53 per share, based on the volume-weighted average price of the Company's shares over the 30 trading days immediately preceding execution of a non-binding term sheet by the parties on October 29, 2018. Additionally, Amazon will be able to earn incremental warrant rights, increasing its potential ownership from 33.2% up to approximately 39.9% of the Company, by leasing up to seventeen more cargo aircraft from the Company before January 2026. Incremental warrants granted for Amazon’s commitment to any such future aircraft leases will have an exercise price based on the volume-weighted average price of the Company’s shares during the 30 trading days immediately preceding contractual commitment for each lease. The warrants potentially issuable under these new agreements with Amazon required an increase in the number of authorized common shares of the Company. Management submitted proposals for shareholder consideration at the Company’s annual meeting of shareholders on May 9, 2019 calling for an increase in the number of authorized common shares and approval of the warrants as required under the rules of the Nasdaq Global Select Market. Both proposals were approved by shareholders on May 9, 2019. The Company’s accounting for the warrants has been determined in accordance with the financial reporting guidance for financial instruments. Warrants obligations are marked to fair value at the end of each reporting period. The value of warrants is recorded as a customer incentive asset if it is probable of vesting. Upon a warrant vesting event, the customer incentive asset is amortized as a reduction of revenue over the duration of the related revenue contract and further changes in the fair value of vested warrant obligations are recorded to earnings. As of June 30, 2019, the Company's liabilities reflected 14.83 million warrants from 2016 Investment Agreement having a fair value of $222.7 million and 24.7 million warrants from the 2018 Amazon agreements having a fair value of $178.7 million . During the three and six month periods ended June 30, 2019, the re-measurements of all the warrants to fair value resulted in a net non-operating losses of $29.0 million and $20.7 million before the effect of income taxes, respectively, compared to gains of $10.8 million and losses of $7.7 million for the corresponding periods of 2018. Revenues from continuing operations performed for Amazon comprised approximately 20% and 19% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2019, respectively, compared to 29% and 29% for the corresponding periods of 2018. The Company’s balance sheets include accounts receivable with Amazon of $31.4 million and $29.2 million as of June 30, 2019 and December 31, 2018, respectively. 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. DoD The Company is a provider of cargo and passenger airlift services to the DoD. The Company's airlines have been providing services to the DoD since the 1990's. The DoD awards flights to U.S. certificated airlines through annual contracts and through temporary "expansion" routes. Revenues from services performed for the DoD were approximately 36% and 37% of the Company's consolidated revenues from continuing operations for the three and six month periods ending June 30, 2019, respectively, compared to 11% and 11% for the corresponding periods of 2018. The Company's balance sheets included accounts receivable with the DoD of $39.0 million and $50.5 million as of June 30, 2019 and December 31, 2018, respectively.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	GOODWILL, INTANGIBLES AND EQUITY INVESTMENTS The Changes in the carrying amount of goodwill, by operating segment, are as follows: CAM ACMI Services All Other Total Carrying value as of December 31, 2018 $ 153,290 $ 234,571 $ 2,884 $ 390,745 Acquisition of TriFactor — — 5,229 5,229 Carrying value as of June 30, 2019 $ 153,290 $ 234,571 $ 8,113 $ 395,974 Changes in the carrying amount of acquired intangible assets are as follows (in thousands): Airline Amortizing Certificates Intangibles Total Carrying value as of December 31, 2018 $ 9,000 $ 135,614 $ 144,614 Amortization — (5,717 ) (5,717 ) Right of use asset — (1,500 ) (1,500 ) Carrying value as of June 30, 2019 $ 9,000 $ 128,397 $ 137,397 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 20 years. The acquisition of Omni by the Company is reported in accordance with Accounting Standards Codification 805, Business Combinations , in which the total purchase price is allocated to Omni’s tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair value of net assets acquired was recorded as goodwill. The purchase price exceeded the fair value of the net assets acquired due to the strategic opportunities and expected benefits associated with adding Omni's capabilities to the Company's existing offerings in the market. The allocation of the purchase price to specific assets and liabilities is based, in part, upon preliminary valuations from internal estimates and independent appraisals. The following table provides pro forma condensed combined financial information (in thousands) for the Company after giving effect to the Omni acquisition. This information is based on adjustments to the historical consolidated financial statements of Omni using the purchase method of accounting for business combinations. The pro forma adjustments do not include any of the cost savings and other synergies anticipated to result from the acquisition. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of results that would have actually been reported as of the date or for the quarter presented had the acquisition taken place on such date or at the beginning of the quarter indicated, or to project the Company’s financial position or results of operations which may be reported in the future. The pro forma results exclude non-recurring charges recorded by Omni that were directly related to the acquisition by the Company. Combined results for Air Transport Services Group and Omni for the three and six month periods ended June 30, 2018 were adjusted for the following in order to create the unaudited pro forma results in the table: Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Pro forma revenues $ 327,801 $ 633,657 Pro forma net earnings from continuing operations 32,715 54,129 The following adjustments were made to the historical financial records to create the unaudited pro forma information in the table above: • Adjustments to eliminate transactions between the Company and Omni during the three and six month periods ended June 30, 2018. • Adjustment to reflect estimated additional depreciation and amortization expense of $2.6 million and $5.3 million for the three and six month periods ended June 30, 2018, resulting primarily from the fair value adjustments to Omni’s intangible assets. Pro forma combined depreciation expense for the periods presented reflect the increased fair values of the aircraft acquired and longer useful lives of the aircraft, indicative of the Company's policies and intent to modify certain aircraft to freighters as an aircraft is removed from passenger service. • Adjustment to reflect additional interest expense and amortization of debt issuance costs for the three and six month periods ended June 30, 2018, related to the combined $855 million from an unsubordinated term loan and revolving facility draws using the prevailing rates of 4.57%. In January 2014, the Company acquired a 25 percent equity interest in West Atlantic AB of Gothenburg, Sweden ("West"). In April 2019, West issued additional shares to a new investor in conjunction with a capital investment and purchase agreement which reduced the Company's ownership to approximately 10% and reduced the Company's influence over West. 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 one Boeing 737 from the Company. 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 2020. The Company expects to make contributions equal to its 49% ownership percentage of the program's total costs over the next two years. During the six month periods ending June 30, 2019 and 2018, the Company contributed $6.4 million and $5.2 million to the joint venture, respectively. The carrying value of West and the joint venture totaled $12.6 million and $12.5 million at June 30, 2019 and December 31, 2018, respectively. and are reflected in “Other Assets” in the Company’s consolidated balance sheets. The Company monitors its investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis in accordance with GAAP. If the Company determines that an other-than-temporary decline in value has occurred, it recognizes an impairment loss, which is measured as the difference between the recorded carrying value and the fair value of the investment. The fair value is generally determined using an income approach based on discounted cash flows or using negotiated transaction values. Stock warrants issued to a lessee (see Note C) 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, 2018 $ 63,780 Warrants granted 100,076 Amortization (8,251 ) Carrying value as of June 30, 2019 $ 155,605

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
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 and interest rate swaps are based on observable inputs (Level 2) from comparable market transactions. The fair value of stock warrant obligations (Level 2) 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. Additionally, certain warrants related to the 2018 investment agreement (see Note C) require inputs of estimated warrant strike price and other assumptions (Level 3). The following table reflects assets and liabilities that are measured at fair value on a recurring basis (in thousands): As of June 30, 2019 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 17,104 $ — $ 17,104 Interest rate swap — 218 — 218 Total Assets $ — $ 17,322 $ — $ 17,322 Liabilities Interest rate swap $ — $ (9,061 ) $ — $ (9,061 ) Stock warrant obligations — (369,485 ) (31,956 ) (401,441 ) Total Liabilities $ — $ (378,546 ) $ (31,956 ) $ (410,502 ) As of December 31, 2018 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 17,986 $ — $ 17,986 Interest rate swap — 2,971 — 2,971 Total Assets $ — $ 20,957 $ — $ 20,957 Liabilities Interest rate swap $ — $ (1,138 ) $ — $ (1,138 ) Stock warrant obligation — (203,782 ) — (203,782 ) Total Liabilities $ — $ (204,920 ) $ — $ (204,920 ) 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 $7.6 million less than the carrying value, which was $1,442.0 million at June 30, 2019 . As of December 31, 2018, the fair value of the Company’s debt obligations was approximately $6.0 million less than the carrying value, which was $1,401.3 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, 2019
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 $ 2,389,747 $ 2,340,840 Ground equipment 58,821 57,455 Leasehold improvements, facilities and office equipment 29,955 28,745 Aircraft modifications and projects in progress 218,302 74,449 2,696,825 2,501,489 Accumulated depreciation (1,046,213 ) (946,484 ) Property and equipment, net $ 1,650,612 $ 1,555,005 CAM owned aircraft with a carrying value of $758.9 million and $803.7 million

Debt Obligations

Debt Obligations	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt Obligations	DEBT OBLIGATIONS Debt obligations consisted of the following (in thousands): June 30, December 31, 2019 2018 Unsubordinated term loans $ 705,909 $ 721,406 Revolving credit facility 515,000 475,000 Convertible debt 209,115 204,846 Other financing arrangements 11,994 — Total debt obligations 1,442,018 1,401,252 Less: current portion (39,236 ) (29,654 ) Total long term obligations, net $ 1,402,782 $ 1,371,598 The Company executed a syndicated credit agreement ("Senior Credit Agreement") in May 2011 which includes an unsubordinated term loan and a revolving credit facility. Effective November 9, 2018, in conjunction with the acquisition of Omni, the Senior Credit Agreement was amended. The amendment continued the secured revolving credit facility and the existing secured term loan while securing a second term loan of $675.0 million . Effective May 28, 2019, the Senior Credit Agreement was amended to extend its the expiration to May 30, 2024. This amendment also increased the capacity of revolving credit facility to $645.0 million and set the accordion feature such that the Company can draw up to an additional $300.0 million subject to the lenders' consent. As of June 30, 2019, the unused revolving credit facility totaled $117.3 million , net of draws of $515.0 million and outstanding letters of credit of $12.7 million . The Senior Credit Agreement permits additional indebtedness of up to $500.0 million of which $258.8 million has been utilized for the issuance of convertible notes. The balance of the unsubordinated term loans is net of debt issuance costs of $9.4 million and $9.8 million for the periods ended June 30, 2019 and December 31, 2018, respectively. Under the terms of the Senior Credit Agreement, interest rates are adjusted at least 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 loans and revolving credit facility bear variable interest rates of 4.66% , 4.66% and 4.66% , respectively. The Senior Credit Agreement is collateralized by certain of the Company's Boeing 777, 767 and 757 aircraft. Under the terms of the Senior Credit Agreement, the Company is required to maintain collateral coverage equal to 102% of the outstanding balance of the term loans and the total funded revolving credit facility. 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 $645.0 million . 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. 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 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 under privately negotiated transactions for $56.1 million , 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 to 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. The fair value of the note conversion obligation at issuance was $57.4 million . 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 net proceeds from the issuance of the Notes were approximately $252.3 million , after deducting initial issuance costs. These unamortized 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, 2019 2018 Principal value, Convertible Senior Notes, due 2024 258,750 258,750 Unamortized issuance costs (5,336 ) (5,799 ) Unamortized discount (44,299 ) (48,105 ) Convertible debt 209,115 204,846 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 Stockholders' Equity in the Company’s consolidated balance sheets was $38.5 million . These warrants could result in 8.1 million additional shares of the Company's common stock, if the Company's traded market price exceeds 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 shares to the extent that the average traded market price of the Company's common shares for a reporting periods exceed the strike price.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Leases The Company leases property, two aircraft, aircraft engines and other types of equipment under operating leases. Property leases include hangars, warehouses, offices and other space at certain airports with fixed rent payments and lease terms ranging from one month to seven years. The Company is obligated to pay the lessor for maintenance, real estate taxes, insurance and other operating expenses on certain property leases. These expenses are variable and are not included in the measurement of the lease asset or lease liability. These expenses are recognized as variable lease expense when incurred and are not material. Equipment leases include ground support and industrial equipment as well as computer hardware with fixed rent payments and terms of one month to three years. The Company records the initial lease asset and lease liability at the present value of lease payments scheduled during the lease term. The leases typically do not provide an implicit rate; therefore,the Company uses its estimated incremental borrowing rate at the time of lease commencement to discount the present value of lease payments. The Company’s average discount rate for operating leases at June 30, 2019 was 4.75%. Leases often include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. Although not material, the amount of such options is reflected below in the maturity of operating lease liabilities table. Lease expense is recognized on a straight-line basis over the lease term. Our weighted-average remaining lease term is 4.3 years. As of June 30, 2019, the maturities of operating leases liabilities are as follows (in thousands): Operating Leases Remaining 2019 $ 18,053 2020 13,536 2021 10,010 2022 8,371 2023 5,428 2024 and beyond 7,436 Total 62,834 Less: amount representing interest (6,491 ) Present value of future minimum lease payments 56,343 Less: current obligations under leases 15,770 Long-term lease obligations $ 40,573 As of December 31, 2018, the cash flows of operating leases over the next five years were as follows (in thousands): Operating Leases 2019 $ 16,674 2020 14,586 2021 11,875 2022 5,906 2023 3,813 2024 and beyond 2,001 Total minimum lease payments $ 54,855 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, 2019, the Company had non-refundable deposits of $30.3 million to purchase 19 Boeing 767-300 aircraft. The Company could incur a cancellation fee with IAI for unused modification part kits. 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, 2019 , the flight crewmember employees of ABX, ATI and Omni and flight attendant employees of ATI and Omni were represented by the labor unions listed below: Airline Labor Agreement Unit Percentage of the Company’s Employees ABX International Brotherhood of Teamsters 5.8% ATI Air Line Pilots Association 7.3% Omni International Brotherhood of Teamsters 6.8% ATI Association of Flight Attendants 0.9% Omni Association of Flight Attendants 7.1%

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefit Plans	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 2019 2018 2019 2018 Service cost $ — $ — $ 27 $ 30 $ — $ — $ 54 $ 60 Interest cost 7,825 7,284 37 32 15,649 14,568 74 64 Expected return on plan assets (9,477 ) (10,523 ) — — (18,954 ) (21,046 ) — — Amortization of net loss 3,882 887 43 55 7,764 1,774 86 110 Net periodic benefit cost (income) $ 2,230 $ (2,352 ) $ 107 $ 117 $ 4,459 $ (4,704 ) $ 214 $ 234 During the six month period ending June 30, 2019, the Company contributed $1.4 million to the pension plans. The Company expects to contribute an additional $6.7 million during the remainder of 2019.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
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. Income taxes recorded through June 30, 2019 have been estimated utilizing a 25% rate based upon year-to-date income and projected results for the full year. The recognition of discrete tax items, such as the conversion of employee stock awards, the issuance of stock warrants and other items, have an impact on the effective rate during a period. During 2019, the Company recorded discrete tax items for the conversion of employee stock awards, limitations on the deductibility of executive compensation and gains and losses on warrant revaluations which were not subject to tax. During 2019, the Company recorded a valuation allowance against a deferred tax benefit related to a foreign investment. As a result of these differences in which expenses and benefits for tax purposes are different than required by generally accepted accounting principals, the Company's effective tax rate for the first six months of 2019 was 194% . The final effective tax rate for the year 2019 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, stock warrant valuations, executive compensation 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 2024 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, 2019
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 original term loan and twenty-five percent of the outstanding balance of the second term loan issued in November 2018. Accordingly, the Company entered into additional interest rate swaps in December 2018 and January 2019 having an initial values of $150.0 million and $150.0 million , respectively, and forward start dates of December 31, 2018 and June 28, 2019. The table below provides information about the Company’s interest rate swaps (in thousands): June 30, 2019 December 31, 2018 Expiration Date Stated Interest Rate Notional Amount Market Value (Liability) Notional Amount Market Value (Liability) May 5, 2021 1.090 % 24,375 213 28,125 650 May 30, 2021 1.703 % 24,375 5 28,125 366 December 31, 2021 2.706 % 148,125 (3,797 ) 150,000 (1,138 ) March 31, 2022 1.900 % 50,000 (396 ) 50,000 829 March 31, 2022 1.950 % 75,000 (695 ) 75,000 1,126 March 31, 2023 2.425 % 150,000 (4,173 ) — — 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 a net loss on derivatives of $6.9 million and $10.7 million for the three and six month periods ending June 30, 2019, respectively, compared to net gains of $0.8 million and $3.2 million for the corresponding periods of 2018. 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 $0.2 million during the three month period ended March 31, 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, 2019
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, 2019 and 2018 (in thousands): 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 salaries, wages and benefits) 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 ) Balance as of January 1, 2018 $ (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 salaries, wages and benefits) 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 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of March 31, 2019 $ (86,091 ) $ (808 ) $ (1,484 ) $ (88,383 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (4 ) (4 ) Amounts reclassified from accumulated other comprehensive income: Recognition of foreign currency loss — — 2,253 2,253 Actuarial costs (reclassified to salaries, wages and benefits) 3,882 43 — 3,925 Income Tax (Expense) or Benefit (609 ) (7 ) (770 ) (1,386 ) Other comprehensive income (loss), net of tax 3,273 36 1,479 4,788 Balance as of June 30, 2019 $ (82,818 ) $ (772 ) $ (5 ) $ (83,595 ) Balance as of January 1, 2019 $ (89,042 ) $ (841 ) $ (1,479 ) $ (91,362 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (11 ) (11 ) Amounts reclassified from accumulated other comprehensive income: Recognition of foreign currency loss — — 2,253 2,253 Actuarial costs (reclassified to salaries, wages and benefits) 7,764 86 — 7,850 Income Tax (Expense) or Benefit (1,540 ) (17 ) (768 ) (2,325 ) Other comprehensive income (loss), net of tax 6,224 69 1,474 7,767 Balance as of June 30, 2019 $ (82,818 ) $ (772 ) $ (5 ) $ (83,595 )

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
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 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, 2019 June 30, 2018 Number of Awards Weighted average grant-date fair value Number of Awards Weighted average grant-date fair value Outstanding at beginning of period 969,928 $ 15.89 873,849 $ 12.30 Granted 295,096 23.22 207,295 26.50 Converted (153,464 ) 17.29 (96,616 ) 10.89 Expired (5,600 ) 23.78 (500 ) 28.38 Forfeited (2,600 ) 22.16 (2,600 ) 26.76 Outstanding at end of period 1,103,360 $ 17.61 981,428 $ 15.39 Vested 337,060 $ 8.04 326,928 $ 7.18 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 2019 was $22.80 , 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 2019 was $24.75 . The market condition awards were valued using a Monte Carlo simulation technique, a risk-free interest rate of 2.5% and a volatility of 35.6% based on volatility over three years using daily stock prices. For the three month periods ending June 30, 2019 and 2018, the Company recorded expense of $3.4 million and $2.3 million , respectively, for stock incentive awards. At June 30, 2019, there was $10.1 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, 2019, none of the awards were convertible, 337,060 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 1,341,035 additional outstanding shares of the Company’s common stock depending on service, performance and market results through December 31, 2021.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
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, 2019 2018 2019 2018 Numerator: Earnings (loss) from continuing operations - basic $ (26,632 ) $ 24,464 $ (3,998 ) $ 40,146 Gain from stock warrants revaluation, net of tax — (10,448 ) — (7,473 ) Earnings (loss) from continuing operations - diluted $ (26,632 ) $ 14,016 $ (3,998 ) $ 32,673 Denominator: Weighted-average shares outstanding for basic earnings per share 58,909 58,739 58,874 58,790 Common equivalent shares: Effect of stock-based compensation awards and warrants — 9,624 — 9,994 Weighted-average shares outstanding assuming dilution 58,909 68,363 58,874 68,784 Basic earnings (loss) per share from continuing operations $ (0.45 ) $ 0.42 $ (0.07 ) $ 0.68 Diluted earnings (loss) per share from continuing operations $ (0.45 ) $ 0.21 $ (0.07 ) $ 0.48 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 C), 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, 2019 and 2018 would have resulted in 39.5 million and 14.8 million additional shares of the Company's common stock, respectively, if the warrants were 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 10.9 million and 10.8 million for the three and six month periods ended June 30, 2019, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	SEGMENT AND REVENUE INFORMATION The Company operates in two reportable segments. The CAM segment consists of the Company's aircraft leasing operations while the ACMI Services segment consists of the Company's airline operations, including CMI agreements as well as ACMI, charter service and passenger service agreements that the Company has with its customers. The Company's aircraft maintenance and modification services, ground services and other activities are not large enough to constitute reportable segments and are combined in All other. Intersegment revenues are valued at arms-length market rates. Revenue information is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2019 2018 2019 2018 Total revenues: CAM $ 69,256 $ 54,377 $ 139,606 $ 106,753 ACMI Services 254,938 119,606 512,894 238,980 All other 71,104 65,361 138,466 137,259 Eliminate inter-segment revenues (60,722 ) (35,737 ) (108,207 ) (76,345 ) Total $ 334,576 $ 203,607 $ 682,759 $ 406,647 Customer revenues: CAM $ 39,953 $ 38,016 $ 81,562 $ 73,903 ACMI Services 254,869 119,589 512,822 238,963 All other 39,754 46,002 88,375 93,781 Total $ 334,576 $ 203,607 $ 682,759 $ 406,647 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 using the invoice practical expedient 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. (There are no customer rewards programs associated with services offered by the Company nor does the Company sell passenger tickets or issue freight bills.) The Company's 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 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. The Company records revenues and estimated earnings over time for its airframe maintenance and aircraft modification contracts using the percentage-of-completion cost input 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 ground services revenues include load transfer and sorting services and related facility and equipment maintenance services. These revenues are recognized as the services are performed for the customer over time. Revenues from related facility and equipment maintenance services are recognized over time and at a point in time depending on the nature of the customer contracts. The Company's external customer revenues from other activities for the three and six month periods ended June 30, 2019 and 2018 are presented below (in thousands): Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 2019 2018 2019 2018 Aircraft maintenance, modifications and part sales $ 23,303 $ 29,069 $ 57,284 $ 60,008 Ground services 15,775 16,159 29,713 32,313 Other 676 774 1,378 1,460 Total customer revenues $ 39,754 $ 46,002 $ 88,375 $ 93,781 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. CAM's leases do not contain residual guarantees. Approximately 5% of CAM's leases to external customers contain purchase options at projected market values. As of June 30, 2019, minimum future payments from external customers for leased aircraft and equipment were scheduled to be $84.7 million for the remainder of 2019, $163.3 million , $157.5 million , $131.3 million , $88.2 million respectively for each of the next 4 years years ending December 31, 2023 and $139.9 million thereafter. Minimum future payments from external customers for leased aircraft and equipment as of December 31, 2018 was scheduled to be $142.3 million , $127.1 million , $124.3 million , $121.2 million , $87.1 million for each of the next five years ending December 31, 2023 and $119.8 million thereafter. 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. During the three and six month periods ending June 30, 2019, the Company recognized $0.6 million and $2.8 million of non lease revenue that was reported in deferred revenue at the beginning of the respective period, respectively, compared to $3.4 million and $8.0 million in the corresponding periods of 2018. Deferred revenue was $1.5 million and $3.1 million at June 30, 2019 and December 31, 2018, respectively, for contracts with customers. Additional segment information from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2019 2018 2019 2018 Depreciation and amortization expense: CAM $ 38,723 $ 30,540 $ 77,518 $ 59,465 ACMI Services 23,865 10,327 46,960 20,552 All other 678 753 1,425 1,607 Total $ 63,266 $ 41,620 $ 125,903 $ 81,624 Segment earnings (loss): CAM $ 16,683 $ 15,394 $ 32,857 $ 30,858 ACMI Services 973 500 13,283 3,915 All other 4,006 3,039 5,909 6,757 Net unallocated interest expense (903 ) (347 ) (1,683 ) (640 ) Net loss on financial instruments (35,886 ) 11,697 (31,386 ) 10,812 Transaction fees — — (373 ) — Other non-service components of retiree benefit (costs) credits, net (2,351 ) 2,045 (4,702 ) 4,090 Loss from non-consolidated affiliate (5,998 ) (2,417 ) (9,814 ) (4,953 ) Pre-tax earnings from continuing operations $ (23,476 ) $ 29,911 $ 4,091 $ 50,839 Interest expense allocated to CAM was $9.4 million and $19.3 million for the three and six month periods ending June 30, 2019, respectively, compared to $4.5 million and $9.0 million for the corresponding periods of 2018. Interest expense allocated to ACMI Services was $6.4 million and $13.0 million for the three and six month periods ending June 30, 2019, respectively, compared to $0.5 million and $1.0 million for the corresponding periods of 2018. The Company's assets are presented below by segment (in thousands). Cash and cash equivalents are reflected in Assets - All other. June 30, December 31, 2019 2018 Assets: CAM $ 1,782,950 $ 1,577,182 ACMI Services 751,373 759,131 All other 168,993 134,272 Total $ 2,703,316 $ 2,470,585

Summary of Financial Statemen_2

Summary of Financial Statement Preparation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The financial statements of the Company are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). 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, 2018 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. Under the equity method, the Company’s share of the nonconsolidated affiliate's 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. On November 9, 2018, the Company acquired OAI, a passenger airline, along with related entities Advanced Flight Services, LLC; Omni Aviation Leasing, LLC; and T7 Aviation Leasing, LLC (referred to collectively herein as "Omni"). OAI is a leading provider of contracted passenger airlift for the U.S. Department of Defense ("DoD") via the Civil Reserve Air Fleet ("CRAF") program, and a provider of full-service passenger charter and ACMI services. OAI carries passengers worldwide for a variety of private sector customers and other government services agencies. Revenues and operating expenses include the activities of Omni for periods since their acquisition by the Company on November 9, 2018. On February 1, 2019, the Company acquired TriFactor Solutions, LLC along with a group of companies that had been under under common control (referred to as "Trifactor"). Trifactor resells material handling equipment and provides engineering design solutions for warehousing, retail distribution and e-commerce operations. Revenues and operating expenses include the activities of TriFactor for periods since its acquisition by the Company. The acquisition of TriFactor did not have a significant impact on the Company's financial statements or results of operations.
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 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 Accounting Standards Codification 840, Leases, ("Topic 840") are specifically excluded from Topic 606. 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. Effective January 1, 2019 the Company adopted the Financial Accounting Standards Board's ("FASB") Accounting Standards Update No. 2016-02, “Leases (Topic 842)” which superseded previous lease guidance ASC 840, Leases. Topic 842 is a new lease model that requires a company to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet. The Company adopted the standard using the modified retrospective approach that does not require the restatement of prior year financial statements. The adoption of Topic 842 did not have a material impact on the Company’s consolidated income statement or consolidated cash flow statement. The adoption of Topic 842 resulted in the recognition of ROU assets and corresponding lease liabilities as of January 1, 2019 in the amount of $52.6 million for leases classified as operating leases. Topic 842 also applies to the Company's aircraft lease revenues, however, the adoption of Topic 842 did not have a significant impact on the Company's accounting for its customer lease agreements. The Company adopted the package of practical expedients and transition provisions available for expired or existing contracts, which allowed the Company carryforward its historical assessments of 1) whether contracts are or contain leases, 2) lease classification and 3) initial direct costs. Additionally, for real estate leases, the Company adopted the practical expedient that allows lessees to treat the lease and non-lease components of leases as a single lease component. The Company also elected the hindsight practical expedient to determine the reasonably certain lease term for existing leases. Further, the Company elected the short-term lease exception policy, permitting it to exclude the recognition requirements for leases with terms of 12 months or less. See Note H for additional information about leases. In February 2018, the FASB issued ASU No. 2018-02 “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. ASU 2018-02 is effective for years beginning after December 15, 2018, and interim periods within those fiscal years. The Company elected to retain stranded tax effects in accumulated other comprehensive income. In June 2018, the FASB issued ASU No. 2018-07 “Improvements to Non-employee Share-based Payment Accounting" ("ASU 2018-07"). ASU 2018-07 amends ASC 718, "Compensation - Stock Compensation" ("ASC 718"), with the intent of simplifying the accounting for share-based payments granted to non-employees for goods and services and aligning the accounting for share-based payments granted to non-employees with the accounting for share-based payments granted to employees. The Company adopted ASU 2018-07 on January 1, 2019 using the modified retrospective approach as required. ASU 2018-07 replaced ASC 505-50, "Equity-Based Payments to Non-employees" ("ASC 505-50") which was previously applied by the Company for warrants granted to Amazon.com, Inc. ("Amazon") as customer incentives. As a result of ASU 2018-07, the Company applied accounting guidance for financial instruments to the unvested warrants conditionally granted to Amazon in conjunction with an investment agreement reached with Amazon on December 22, 2018. Applying ASU 2018-07 as of January 1, 2019, through the modified retrospective approach, resulted in the recognition of $176.9 million for unvested warrant liabilities, $100.1 million for customer incentive assets and cumulative-effect adjustments of $71.4 million to reduce retained earnings for customer incentives that were not probable of being realized.

Summary of Financial Statemen_3

Summary of Financial Statement Preparation and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
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 $ 2,389,747 $ 2,340,840 Ground equipment 58,821 57,455 Leasehold improvements, facilities and office equipment 29,955 28,745 Aircraft modifications and projects in progress 218,302 74,449 2,696,825 2,501,489 Accumulated depreciation (1,046,213 ) (946,484 ) Property and equipment, net $ 1,650,612 $ 1,555,005

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2019
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
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, 2018 $ 63,780 Warrants granted 100,076 Amortization (8,251 ) Carrying value as of June 30, 2019 $ 155,605
Schedule of Goodwill	The Changes in the carrying amount of goodwill, by operating segment, are as follows: CAM ACMI Services All Other Total Carrying value as of December 31, 2018 $ 153,290 $ 234,571 $ 2,884 $ 390,745 Acquisition of TriFactor — — 5,229 5,229 Carrying value as of June 30, 2019 $ 153,290 $ 234,571 $ 8,113 $ 395,974
Schedule Intangible Assets by Major Class	Changes in the carrying amount of acquired intangible assets are as follows (in thousands): Airline Amortizing Certificates Intangibles Total Carrying value as of December 31, 2018 $ 9,000 $ 135,614 $ 144,614 Amortization — (5,717 ) (5,717 ) Right of use asset — (1,500 ) (1,500 ) Carrying value as of June 30, 2019 $ 9,000 $ 128,397 $ 137,397
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block]	Combined results for Air Transport Services Group and Omni for the three and six month periods ended June 30, 2018 were adjusted for the following in order to create the unaudited pro forma results in the table: Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Pro forma revenues $ 327,801 $ 633,657 Pro forma net earnings from continuing operations 32,715 54,129

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 17,104 $ — $ 17,104 Interest rate swap — 218 — 218 Total Assets $ — $ 17,322 $ — $ 17,322 Liabilities Interest rate swap $ — $ (9,061 ) $ — $ (9,061 ) Stock warrant obligations — (369,485 ) (31,956 ) (401,441 ) Total Liabilities $ — $ (378,546 ) $ (31,956 ) $ (410,502 ) As of December 31, 2018 Fair Value Measurement Using Total Level 1 Level 2 Level 3 Assets Cash equivalents—money market $ — $ 17,986 $ — $ 17,986 Interest rate swap — 2,971 — 2,971 Total Assets $ — $ 20,957 $ — $ 20,957 Liabilities Interest rate swap $ — $ (1,138 ) $ — $ (1,138 ) Stock warrant obligation — (203,782 ) — (203,782 ) Total Liabilities $ — $ (204,920 ) $ — $ (204,920 )

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2019
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 $ 2,389,747 $ 2,340,840 Ground equipment 58,821 57,455 Leasehold improvements, facilities and office equipment 29,955 28,745 Aircraft modifications and projects in progress 218,302 74,449 2,696,825 2,501,489 Accumulated depreciation (1,046,213 ) (946,484 ) Property and equipment, net $ 1,650,612 $ 1,555,005

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Convertible Debt [Table Text Block]	The carrying value of the Company's Convertible debt is shown below. June 30, December 31, 2019 2018 Principal value, Convertible Senior Notes, due 2024 258,750 258,750 Unamortized issuance costs (5,336 ) (5,799 ) Unamortized discount (44,299 ) (48,105 ) Convertible debt 209,115 204,846
Schedule of Long-term Debt Instruments	Debt obligations consisted of the following (in thousands): June 30, December 31, 2019 2018 Unsubordinated term loans $ 705,909 $ 721,406 Revolving credit facility 515,000 475,000 Convertible debt 209,115 204,846 Other financing arrangements 11,994 — Total debt obligations 1,442,018 1,401,252 Less: current portion (39,236 ) (29,654 ) Total long term obligations, net $ 1,402,782 $ 1,371,598

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2018, the cash flows of operating leases over the next five years were as follows (in thousands): Operating Leases 2019 $ 16,674 2020 14,586 2021 11,875 2022 5,906 2023 3,813 2024 and beyond 2,001 Total minimum lease payments $ 54,855 As of June 30, 2019, the maturities of operating leases liabilities are as follows (in thousands): Operating Leases Remaining 2019 $ 18,053 2020 13,536 2021 10,010 2022 8,371 2023 5,428 2024 and beyond 7,436 Total 62,834 Less: amount representing interest (6,491 ) Present value of future minimum lease payments 56,343 Less: current obligations under leases 15,770 Long-term lease obligations $ 40,573
Schedules of Concentration of Risk, by Risk Factor	As of June 30, 2019 , the flight crewmember employees of ABX, ATI and Omni and flight attendant employees of ATI and Omni were represented by the labor unions listed below: Airline Labor Agreement Unit Percentage of the Company’s Employees ABX International Brotherhood of Teamsters 5.8% ATI Air Line Pilots Association 7.3% Omni International Brotherhood of Teamsters 6.8% ATI Association of Flight Attendants 0.9% Omni Association of Flight Attendants 7.1%

Pension and Other Post-Retire_2

Pension and Other Post-Retirement Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 2019 2018 2019 2018 Service cost $ — $ — $ 27 $ 30 $ — $ — $ 54 $ 60 Interest cost 7,825 7,284 37 32 15,649 14,568 74 64 Expected return on plan assets (9,477 ) (10,523 ) — — (18,954 ) (21,046 ) — — Amortization of net loss 3,882 887 43 55 7,764 1,774 86 110 Net periodic benefit cost (income) $ 2,230 $ (2,352 ) $ 107 $ 117 $ 4,459 $ (4,704 ) $ 214 $ 234

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 December 31, 2018 Expiration Date Stated Interest Rate Notional Amount Market Value (Liability) Notional Amount Market Value (Liability) May 5, 2021 1.090 % 24,375 213 28,125 650 May 30, 2021 1.703 % 24,375 5 28,125 366 December 31, 2021 2.706 % 148,125 (3,797 ) 150,000 (1,138 ) March 31, 2022 1.900 % 50,000 (396 ) 50,000 829 March 31, 2022 1.950 % 75,000 (695 ) 75,000 1,126 March 31, 2023 2.425 % 150,000 (4,173 ) — —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 and 2018 (in thousands): 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 salaries, wages and benefits) 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 ) Balance as of January 1, 2018 $ (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 salaries, wages and benefits) 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 ) Defined Benefit Pension Defined Benefit Post-Retirement Foreign Currency Translation Total Balance as of March 31, 2019 $ (86,091 ) $ (808 ) $ (1,484 ) $ (88,383 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (4 ) (4 ) Amounts reclassified from accumulated other comprehensive income: Recognition of foreign currency loss — — 2,253 2,253 Actuarial costs (reclassified to salaries, wages and benefits) 3,882 43 — 3,925 Income Tax (Expense) or Benefit (609 ) (7 ) (770 ) (1,386 ) Other comprehensive income (loss), net of tax 3,273 36 1,479 4,788 Balance as of June 30, 2019 $ (82,818 ) $ (772 ) $ (5 ) $ (83,595 ) Balance as of January 1, 2019 $ (89,042 ) $ (841 ) $ (1,479 ) $ (91,362 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment — — (11 ) (11 ) Amounts reclassified from accumulated other comprehensive income: Recognition of foreign currency loss — — 2,253 2,253 Actuarial costs (reclassified to salaries, wages and benefits) 7,764 86 — 7,850 Income Tax (Expense) or Benefit (1,540 ) (17 ) (768 ) (2,325 ) Other comprehensive income (loss), net of tax 6,224 69 1,474 7,767 Balance as of June 30, 2019 $ (82,818 ) $ (772 ) $ (5 ) $ (83,595 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 June 30, 2018 Number of Awards Weighted average grant-date fair value Number of Awards Weighted average grant-date fair value Outstanding at beginning of period 969,928 $ 15.89 873,849 $ 12.30 Granted 295,096 23.22 207,295 26.50 Converted (153,464 ) 17.29 (96,616 ) 10.89 Expired (5,600 ) 23.78 (500 ) 28.38 Forfeited (2,600 ) 22.16 (2,600 ) 26.76 Outstanding at end of period 1,103,360 $ 17.61 981,428 $ 15.39 Vested 337,060 $ 8.04 326,928 $ 7.18

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 2018 2019 2018 Numerator: Earnings (loss) from continuing operations - basic $ (26,632 ) $ 24,464 $ (3,998 ) $ 40,146 Gain from stock warrants revaluation, net of tax — (10,448 ) — (7,473 ) Earnings (loss) from continuing operations - diluted $ (26,632 ) $ 14,016 $ (3,998 ) $ 32,673 Denominator: Weighted-average shares outstanding for basic earnings per share 58,909 58,739 58,874 58,790 Common equivalent shares: Effect of stock-based compensation awards and warrants — 9,624 — 9,994 Weighted-average shares outstanding assuming dilution 58,909 68,363 58,874 68,784 Basic earnings (loss) per share from continuing operations $ (0.45 ) $ 0.42 $ (0.07 ) $ 0.68 Diluted earnings (loss) per share from continuing operations $ (0.45 ) $ 0.21 $ (0.07 ) $ 0.48

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting Information [Line Items]
Segment Reporting, Additional Information about Entity's Reportable Segments	Additional segment information from continuing operations is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2019 2018 2019 2018 Depreciation and amortization expense: CAM $ 38,723 $ 30,540 $ 77,518 $ 59,465 ACMI Services 23,865 10,327 46,960 20,552 All other 678 753 1,425 1,607 Total $ 63,266 $ 41,620 $ 125,903 $ 81,624 Segment earnings (loss): CAM $ 16,683 $ 15,394 $ 32,857 $ 30,858 ACMI Services 973 500 13,283 3,915 All other 4,006 3,039 5,909 6,757 Net unallocated interest expense (903 ) (347 ) (1,683 ) (640 ) Net loss on financial instruments (35,886 ) 11,697 (31,386 ) 10,812 Transaction fees — — (373 ) — Other non-service components of retiree benefit (costs) credits, net (2,351 ) 2,045 (4,702 ) 4,090 Loss from non-consolidated affiliate (5,998 ) (2,417 ) (9,814 ) (4,953 ) Pre-tax earnings from continuing operations $ (23,476 ) $ 29,911 $ 4,091 $ 50,839
Schedule of Segment Reporting Information, by Segment	Revenue information is presented below (in thousands): Three Months Ending Six Months Ending June 30, June 30, 2019 2018 2019 2018 Total revenues: CAM $ 69,256 $ 54,377 $ 139,606 $ 106,753 ACMI Services 254,938 119,606 512,894 238,980 All other 71,104 65,361 138,466 137,259 Eliminate inter-segment revenues (60,722 ) (35,737 ) (108,207 ) (76,345 ) Total $ 334,576 $ 203,607 $ 682,759 $ 406,647 Customer revenues: CAM $ 39,953 $ 38,016 $ 81,562 $ 73,903 ACMI Services 254,869 119,589 512,822 238,963 All other 39,754 46,002 88,375 93,781 Total $ 334,576 $ 203,607 $ 682,759 $ 406,647
Reconciliation of Assets from Segment to Consolidated	The Company's assets are presented below by segment (in thousands). Cash and cash equivalents are reflected in Assets - All other. June 30, December 31, 2019 2018 Assets: CAM $ 1,782,950 $ 1,577,182 ACMI Services 751,373 759,131 All other 168,993 134,272 Total $ 2,703,316 $ 2,470,585
Other Segments [Member]
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information, by Segment	The Company's external customer revenues from other activities for the three and six month periods ended June 30, 2019 and 2018 are presented below (in thousands): Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 2019 2018 2019 2018 Aircraft maintenance, modifications and part sales $ 23,303 $ 29,069 $ 57,284 $ 60,008 Ground services 15,775 16,159 29,713 32,313 Other 676 774 1,378 1,460 Total customer revenues $ 39,754 $ 46,002 $ 88,375 $ 93,781

Significant Customers (Details)

Significant Customers (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Concentration Risk [Line Items]
Accounts receivable	$ 128,514		$ 128,514		$ 147,755
Fair Value Adjustment of Warrants	(29,000)	$ 10,800	(20,700)	$ (7,700)
Warrant liability	$ 401,441		$ 401,441		203,782
DHL [Member] | Revenues from Leases and Contracted Services [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues	15.00%	28.00%	15.00%	28.00%
DHL [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 11,000		$ 11,000		13,400
Amazon [Member] | Revenues from Leases and Contracted Services [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues	20.00%	29.00%	19.00%	29.00%
Amazon [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 31,400		$ 31,400		29,200
US Military [Member] | Revenues from Services Performed [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of consolidated revenues	36.00%	11.00%	37.00%	11.00%
US Military [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	$ 39,000		$ 39,000		$ 50,500
Amazon Warrant [Member]
Concentration Risk [Line Items]
Class of Warrant or Right, Outstanding	14,830		14,830
Warrant liability	$ 222,700		$ 222,700
Amazon Warrant C [Member] [Member]
Concentration Risk [Line Items]
Class of Warrant or Right, Outstanding	24,700		24,700
Warrant liability	$ 178,700		$ 178,700

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill, Purchase Accounting Adjustments	$ 5,229
Goodwill [Roll Forward]
Carrying value, beginning balance	395,974	$ 390,745
Carrying value, ending balance	395,974
ACMI Services [Member]
Goodwill [Roll Forward]
Carrying value, beginning balance	234,571	234,571
Carrying value, ending balance	234,571
Other Segments [Member]
Goodwill [Line Items]
Goodwill, Purchase Accounting Adjustments	5,229
Goodwill [Roll Forward]
Carrying value, beginning balance		2,884
CAM [Member]
Goodwill [Roll Forward]
Carrying value, beginning balance	153,290	$ 153,290
Carrying value, ending balance	153,290
MRO Services [Member] [Member]
Goodwill [Roll Forward]
Carrying value, beginning balance	8,113
Carrying value, ending balance	$ 8,113

Goodwill and Other Intangible_3

Goodwill and Other Intangibles (Schedule Intangible Assets) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
Incentive to Lessee		$ 155,605	$ 63,780
Warranted granted adding to lease incentive intangible	$ 100,076
Amortization of Lease Incentives	(8,251)
Finite and Indefinite-lived Intangible Assets [Roll Forward]
Carrying value at beginning of period	135,614
Carrying value at beginning of period	144,614
Amortization expense	(5,717)
Carrying value at end of period	135,614	$ 128,397	$ 135,614
Carrying value at end of period	137,397
lease intangible asset reclass	(1,500)
ACMI Services [Member] | Airline Certificates [Member]
Finite and Indefinite-lived Intangible Assets [Roll Forward]
Carrying value at beginning of period	9,000
Amortization expense	0
Carrying value at end of period	$ 9,000

Goodwill and Other Intangible_4

Goodwill and Other Intangibles Investment in West Atlantic (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Interest in Joint Venture	$ 6,400	$ 5,200
Equity Method Investments	12,600		$ 12,500
Goodwill	$ 395,974		$ 390,745

Goodwill and Other Intangible_5

Goodwill and Other Intangibles Investment A321 (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Payments to Acquire Interest in Joint Venture	$ 6.4	$ 5.2

Goodwill and Other Intangible_6

Goodwill and Other Intangibles Pro Forma Omni Acquisition (Details) - Omni Air [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Business Acquisition, Pro Forma Revenue		$ 327,801	$ 633,657
Business Acquisition, Pro Forma Net Income (Loss)		$ 32,715	54,129
Depreciation	$ 2,600		$ 5,300

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	May 10, 2018	Sep. 25, 2017
Liabilities, Fair Value Disclosure [Abstract]
Warrant liability	$ 401,441	$ 203,782
Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	17,104	17,986
Derivative Asset	218	2,971
Total Assets	17,322	20,957
Liabilities, Fair Value Disclosure [Abstract]
Interest rate swap		(1,138)
Warrant liability	(401,441)	(203,782)
Total Liabilities	(410,502)	(204,920)
Carrying value, debt	1,442,000	1,401,300
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	0	0
Derivative Asset	0	0
Total Assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Interest rate swap	0	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	17,104	17,986
Derivative Asset	218	2,971
Convertible note hedge fair value			$ 50,600	$ 56,100
Total Assets	17,322	20,957
Liabilities, Fair Value Disclosure [Abstract]
Interest rate swap	(9,061)	(1,138)
Note conversion obligation fair value			$ 51,300	$ 57,400
Warrant liability	(369,485)	(203,782)
Total Liabilities	(378,546)	(204,920)
Difference between fair value and carrying value, debt	(7,600)	(6,000)
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents - money market	0	0
Derivative Asset	0	0
Total Assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Interest rate swap	0	0
Warrant liability	(31,956)	0
Total Liabilities	(31,956)	$ 0
Fair Value, Measurements, Recurring [Member] | Total [Member]
Liabilities, Fair Value Disclosure [Abstract]
Interest rate swap	$ (9,061)

Property and Equipment (Schedul

Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 2,696,825	$ 2,501,489
Accumulated depreciation	(1,046,213)	(946,484)
Property and equipment, net	1,650,612	1,555,005
Flight Equipment [Member]
Property, Plant and Equipment [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	84,700	142,300
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	2,389,747	2,340,840
Operating Leases, Future Minimum Payments Receivable, in Two Years	163,300	127,100
Operating Leases, Future Minimum Payments Receivable, in Three Years	157,500	124,300
Operating Leases, Future Minimum Payments Receivable, in Four Years	131,300	121,200
Operating Leases, Future Minimum Payments Receivable, in Five Years	88,200	87,100
Ground equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	58,821	57,455
facilities, leasehold improvements and office equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	29,955	28,745
Construction in Progress [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property and equipment, gross	$ 218,302	$ 74,449

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - Flight Equipment [Member] - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Leases, Future Minimum Payments Receivable [Abstract]
Minimum future lease payments, Due within next 12 months	$ 84,700	$ 142,300
Minimum future lease payments, Due within next 2 years	163,300	127,100
Minimum future lease payments, Due within next 3 years	157,500	124,300
Minimum future lease payments, Due within next 4 years	131,300	121,200
Minimum future lease payments, Due within next 5 years	88,200	87,100
Operating Leases, Future Minimum Payments Receivable, Thereafter	139,900	119,800
CAM [Member]
Property, Plant and Equipment [Line Items]
Leased aircraft, carrying value	$ 758,900	$ 803,700

Debt Obligations (Schedule of L

Debt Obligations (Schedule of Long Term Obligations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Nov. 09, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Total long term obligations	$ 1,442,018	$ 1,401,252
Convertible Debt	209,115	204,846
Other Long-term Debt	11,994			$ 0
Less: current portion	(39,236)	(29,654)
Total long term obligations, net	$ 1,402,782	1,371,598
Senior Notes 2nd Term Loan [Member]
Debt Instrument [Line Items]
Total long term obligations			$ 675,000
Unsubordinated term loan and Revolving credit facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Collateral, Coverage Percentage	102.00%
Unsubordinated term loan [Member]
Debt Instrument [Line Items]
Total long term obligations	$ 705,909	721,406
Revolving credit facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Accordion Feature Amount			300,000
Total long term obligations	$ 515,000	$ 475,000
line of credit, increase in maximum borrowing capacity			$ 500,000

Debt Obligations (Schedule of_2

Debt Obligations (Schedule of Long Term Debt Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Long-term Debt, Fiscal Year Maturity [Abstract]
Total long term obligations	$ 1,442,018	$ 1,401,252

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2017	Dec. 31, 2018	Nov. 09, 2018	May 10, 2018	Sep. 25, 2017
Debt Instrument [Line Items]
Long term obligations	$ 1,442,018		$ 1,401,252
Debt Issuance Costs, Line of Credit Arrangements, Net	9,400		9,800
Convertible Debt	$ 209,115		204,846
Senior Notes 2nd Term Loan [Member]
Debt Instrument [Line Items]
Long term obligations				$ 675,000
Variable interest rate	4.66%
Unsubordinated term loan and Revolving credit facility [Member]
Debt Instrument [Line Items]
Collateral coverage percentage	102.00%
Maximum amount of common stock authorized for repurchase	$ 100,000
Unsubordinated term loan [Member]
Debt Instrument [Line Items]
Long term obligations	$ 705,909		721,406
Variable interest rate	4.66%
Revolving credit facility [Member]
Debt Instrument [Line Items]
Long term obligations	$ 515,000		475,000
Accordion feature amount				$ 300,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 645,000
Variable interest rate	4.66%
Credit facility, revolving credit loan, remaining borrowing capacity	$ 117,300
Letters of credit outstanding	$ 12,700
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			$ 258,800
Debt Conversion, Converted Instrument, Rate	1.125%
Debt Instrument, Interest Rate, Effective Percentage	5.15%
Proceeds from Convertible Debt		$ 252,300
Convertible note hedge shares						8,100
Warrants and Rights Outstanding	$ 38,500
Unamortized Debt Issuance Expense	(5,336)		(5,799)
Debt Instrument, Unamortized Discount	$ (44,299)		$ (48,105)
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Debt Instrument [Line Items]
Note conversion obligation fair value					$ (51,300)	$ (57,400)
Convertible note hedge fair value					$ 50,600	$ 56,100

Commitments and Contingencies_2

Commitments and Contingencies (Operating Lease Payments) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Leased Assets [Line Items]
Operating Leases, Future Minimum Payments Due, Next Twelve Months		$ 16,674
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2017	$ 18,053
2018	13,536
2019	10,010
2020	8,371
2021	5,428
2022 and beyond	7,436
Total minimum lease payments	56,343	54,855
Lessee, Operating Lease, Liability, Payments, Due	62,834
lessee, operating lease, interest due	(6,491)
Operating Leases, Future Minimum Payments Due, Next Twelve Months	15,770	0
Operating Lease, Liability, Noncurrent	$ 40,573	0
Operating Leases, Future Minimum Payments, Due in Two Years		14,586
Operating Leases, Future Minimum Payments, Due in Three Years		11,875
Operating Leases, Future Minimum Payments, Due in Four Years		5,906
Operating Leases, Future Minimum Payments, Due in Five Years		3,813
Operating Leases, Future Minimum Payments, Due Thereafter		$ 2,001

Commitments and Contingencies_3

Commitments and Contingencies (Commitments) (Details) $ in Millions	Jun. 30, 2019USD ($)
Long-term Purchase Commitment [Line Items]
aircraft purchase deposit	$ 30.3

Commitments and Contingencies_4

Commitments and Contingencies (Labor Unions) (Details) - Workforce Subject to Collective Bargaining Arrangements [Member] - Labor Unions [Member]	6 Months Ended
	Jun. 30, 2019
ABX [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	5.80%
ATI [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	7.30%
Omni Air International [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	6.80%
Air Transport International, Flight Attendants [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	0.90%
Omni Air International, Flight Attendants [Member] [Member]
Concentration Risk [Line Items]
Percentage of the Company's Employees	7.10%

Pension and Other Post-Retire_3

Pension and Other Post-Retirement Benefit Plans (Funded Status) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Pension Plans [Member]
Change in benefit obligation [Roll Forward]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	7,825	7,284	15,649	14,568
Change in plan assets [Roll Forward]
Employer contributions			1,400
Post-Retirement Healthcare Plans [Member]
Change in benefit obligation [Roll Forward]
Service cost	27	30	54	60
Interest cost	$ 37	$ 32	$ 74	$ 64

Pension and Other Post-Retire_4

Pension and Other Post-Retirement Benefit Plans (Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Pension Plans [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	7,825	7,284	15,649	14,568
Expected return on plan assets	(9,477)	(10,523)	(18,954)	(21,046)
Amortization of net loss	3,882	887	7,764	1,774
Net periodic benefit cost (income)	2,230	(2,352)	4,459	(4,704)
Post-Retirement Healthcare Plans [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	27	30	54	60
Interest cost	37	32	74	64
Expected return on plan assets	0	0	0	0
Amortization of net loss	43	55	86	110
Net periodic benefit cost (income)	$ 107	$ 117	$ 214	$ 234

Pension and Other Post-Retire_5

Pension and Other Post-Retirement Benefit Plans (Cash Flows) (Details) - Pension Plans [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 1,400
Estimated future employer contributions	$ 6,700

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Line Items]
Projected annual effective income tax rate reconciliation, percent	25.00%
Effective Income Tax Rate Reconciliation, Percent	(194.00%)

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, 2019	Jun. 30, 2018
Deferred taxes:
Total income tax expense from continuing operations	$ 5,447	$ (8,089)	$ (10,693)

Income Taxes (Tax Rate Reconcil

Income Taxes (Tax Rate Reconciliation) (Details)	6 Months Ended
	Jun. 30, 2019
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Effective income tax rate	(194.00%)

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Jun. 28, 2019	Sep. 25, 2017
Derivative [Line Items]
Pre-tax (charge) on derivative instruments	$ (35,886)	$ 11,697	$ (31,386)	$ 10,812
Net (gain) loss on financial instruments	$ 6,900	$ (800)	$ 10,700	$ (3,200)
gain/loss convertible debt hedge asset and note obligation valuation					$ (200)
June 30, 2017 [Member] [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	2.706%		2.706%
Market Value (Liability)	$ (3,797)		$ (3,797)		(1,138)
Derivative Liability, Notional Amount	$ 148,125		$ 148,125		150,000
May 5, 2021 [Member] [Member] [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	1.09%		1.09%
Market Value (Liability)	$ (213)		$ (213)		(650)
Derivative Liability, Notional Amount	$ 24,375		$ 24,375		28,125
May 30, 2021 [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	1.703%		1.703%
Market Value (Liability)	$ (5)		$ (5)		(366)
Derivative Liability, Notional Amount	$ 24,375		$ 24,375		28,125
March 31, 2022 One [Member] [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	1.90%		1.90%
Market Value (Liability)	$ 396		$ 396		(829)
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	1.95%		1.95%
Market Value (Liability)	$ 695		$ 695		(1,126)
Derivative Liability, Notional Amount	$ 75,000		$ 75,000		75,000
March 31, 2023 [Member] | Swap [Member]
Derivative [Line Items]
Stated Interest Rate	2.425%		2.425%
Market Value (Liability)	$ 4,173		$ 4,173		0
Derivative Liability, Notional Amount	$ 150,000		$ 150,000		$ 0	$ 150,000
Convertible Debt [Member]
Derivative [Line Items]
Convertible note hedge shares							8,100

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Schedule of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (5)	$ (1,487)	$ (5)	$ (1,487)	$ (1,484)	$ (1,479)	$ (1,364)	$ (1,348)
Accumulated other comprehensive income (loss), beginning balance	(88,383)	(62,307)	(91,362)	(63,020)
Other comprehensive income (loss) before reclassifications:
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	(4)	(186)	(11)	(211)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax	2,253		2,253
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	(770)	63	(768)	72
Amounts reclassified from accumulated other comprehensive income:
Actuarial costs (reclassified to salaries, wages and benefits)	3,925	942	7,850	1,884
Income Tax (Expense) or Benefit	(1,386)	(150)	(2,325)	(354)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1,479	(123)	1,474	(139)
Accumulated other comprehensive income (loss), ending balance	(83,595)	(61,701)	(83,595)	(61,701)
Total comprehensive income (loss)	(21,813)	25,240	3,831	41,831
Pension Plans [Member]
Schedule of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(86,091)	(59,888)	(89,042)	(60,575)
Amounts reclassified from accumulated other comprehensive income:
Actuarial costs (reclassified to salaries, wages and benefits)	3,882	887	7,764	1,774
Income Tax (Expense) or Benefit	(609)	(200)	(1,540)	(400)
Other comprehensive income (loss), net of tax	3,273	687	6,224	1,374
Accumulated other comprehensive income (loss), ending balance	(82,818)	(59,201)	(82,818)	(59,201)
Post-Retirement Plans [Member]
Schedule of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(808)	(1,055)	(841)	(1,097)
Amounts reclassified from accumulated other comprehensive income:
Actuarial costs (reclassified to salaries, wages and benefits)	43	55	86	110
Income Tax (Expense) or Benefit	(7)	(13)	(17)	(26)
Other comprehensive income (loss), net of tax	36	42	69	84
Accumulated other comprehensive income (loss), ending balance	$ (772)	$ (1,013)	$ (772)	$ (1,013)

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
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)	969,928	873,849	873,849
Granted (in shares)	295,096	207,295
Converted (in shares)	(153,464)	(96,616)
Expired (in shares)	(5,600)	(500)
Forfeited (in shares)	(2,600)	(2,600)
Outstanding at end of period (in shares)	1,103,360	981,428	969,928	873,849
Vested (in shares)	337,060	326,928
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)	$ 15.89	$ 12.30	$ 12.30
Granted, Weighted average grant-date fair value (in dollars per share)	23.22	26.50
Converted, Weighted average grant-date fair value (in dollars per share)	17.29	10.89
Expired, Weighted average grant-date fair value (in dollars per share)	23.78	28.38
Forfeited, Weighted average grant-date fair value (in dollars per share)	22.16	26.76
Outstanding at end of period, Weighted average grant-date fair value (in dollars per share)	17.61	15.39	$ 15.89	$ 12.30
Vested (in dollars per share)	$ 8.04	$ 7.18
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Share-based compensation expense	$ 3.4	$ 2.3
Unrecognized share-based compensation expense	$ 10.1
Unrecognized share-based compensation, weighted average recognition period	1 year 7 months 6 days
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	2.50%
Expected volatility rate	35.60%
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)	$ 24.75
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)	$ 22.80
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)	1,341,035
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)	337,060
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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share Reconciliation [Abstract]
Earnings from continuing operations	$ (26,632)	$ 24,464	$ (3,998)	$ 40,146
fair value adjustment to warrants, net of tax	0	(10,448)	0	(7,473)
Undistributed Earnings (Loss) from Continuing Operations Available to Common Shareholders, Diluted	$ (26,632)	$ 14,016	$ (3,998)	$ 32,673
Weighted-average shares outstanding for basic earnings per share (in shares)	58,909	58,739	58,874	58,790
Common equivalent shares:
Effect of stock-based compensation awards (in shares)	0	9,624	0	9,994
Weighted-average shares outstanding assuming dilution (in shares)	58,909	68,363	58,874	68,784
Basic earnings per share from continuing operations (in dollars per share)	$ (0.45)	$ 0.42	$ (0.07)	$ 0.68
Diluted earnings per share from continuing operations (in dollars per share)	$ (0.45)	$ 0.21	$ (0.07)	$ 0.48
Equivalent shares not included in weighted average shares outstanding because they would be anti-dilutive	10,900		10,800
Amazon Warrant AB [Member]
Earnings Per Share Reconciliation [Abstract]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	39,500	14,800	39,500	14,800

Segment Information (Segment Re

Segment Information (Segment Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Operating Expenses	$ 297,094	$ 179,709	$ 598,749	$ 355,106
REVENUES	334,576	203,607	682,759	406,647
Customer revenues	334,576	203,607	682,759	406,647
Depreciation and amortization expense	63,266	41,620	125,903	81,624
Net unallocated interest expense	(16,804)	(5,366)	34,194	10,728
Net gain (loss) on financial instruments	(35,886)	11,697	(31,386)	10,812
Non-operating charges from a non-consolidating affiliate			(9,814)	(4,953)
Pre-tax earnings from continuing operations	(23,476)	29,911	4,091	50,839
Assets	2,703,316		2,703,316		$ 2,470,585
Income Tax Expense (Benefit)		5,447	(8,089)	(10,693)
Business Combination, Acquisition Related Costs	0	0	(373)	0
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	(2,351)	2,045	(4,702)	4,090
Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	334,576	203,607	682,759	406,647
Customer revenues	334,576	203,607	682,759	406,647
Ground Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	15,775	16,159	29,713	32,313
Customer revenues	15,775	16,159	29,713	32,313
All Other non MRO or Ground Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	676	774	1,378	1,460
Customer revenues	676	774	1,378	1,460
CAM [Member]
Segment Reporting Information [Line Items]
REVENUES	69,256	54,377	139,606	106,753
Customer revenues	69,256	54,377	139,606	106,753
Depreciation and amortization expense	38,723	30,540	77,518	59,465
Segment earnings (loss)	16,683	15,394	32,857	30,858
Net unallocated interest expense	(9,400)	(4,500)	(19,300)	(9,000)
Assets	1,782,950		1,782,950		1,577,182
CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES		38,016	81,562	73,903
Customer revenues		38,016	81,562	73,903
ACMI Services [Member]
Segment Reporting Information [Line Items]
REVENUES	254,938	119,606	512,894	238,980
Customer revenues	254,938	119,606	512,894	238,980
Depreciation and amortization expense	23,865	10,327	46,960	20,552
Segment earnings (loss)	973	500	13,283	3,915
Net unallocated interest expense	(6,400)	(500)	(13,000)	(1,000)
Assets	751,373		751,373		759,131
ACMI Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES		119,589	512,822	238,963
Customer revenues		119,589	512,822	238,963
Ground Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	23,303	29,069	57,284	60,008
Customer revenues	23,303	29,069	57,284	60,008
All other [Member]
Segment Reporting Information [Line Items]
REVENUES	71,104	65,361	138,466	137,259
Customer revenues	71,104	65,361	138,466	137,259
Depreciation and amortization expense	678	753	1,425	1,607
Segment earnings (loss)	4,006	3,039	5,909	6,757
Assets	168,993		168,993		$ 134,272
All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	39,754	46,002	88,375	93,781
Customer revenues	39,754	46,002	88,375	93,781
Significant Reconciling Items [Member]
Segment Reporting Information [Line Items]
Net unallocated interest expense	(903)	(347)	(1,683)	(640)
Non-operating charges from a non-consolidating affiliate	5,998	2,417	9,814	4,953
Eliminate inter-segment revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	(60,722)	(35,737)	(108,207)	(76,345)
Customer revenues	(60,722)	$ (35,737)	$ (108,207)	$ (76,345)
Accounting Standards Update 2014-09 [Member]
Segment Reporting Information [Line Items]
Income Tax Expense (Benefit)	(3,156)
Accounting Standards Update 2014-09 [Member] | CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	39,953
Customer revenues	39,953
Accounting Standards Update 2014-09 [Member] | ACMI Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	254,869
Customer revenues	254,869
Accounting Standards Update 2014-09 [Member] | All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	39,754
Customer revenues	$ 39,754

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segments	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
REVENUES	$ 334,576	$ 203,607	$ 682,759	$ 406,647
Deferred Revenue, Revenue Recognized	600	3,400	2,800	8,000
Deferred Revenue	1,500		$ 1,500		$ 3,100
Number of reportable segments (in segments) | segments			2
Interest expense	16,804	5,366	$ (34,194)	(10,728)
Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	334,576	203,607	682,759	406,647
ACMI Services [Member]
Segment Reporting Information [Line Items]
REVENUES	254,938	119,606	512,894	238,980
Interest expense	6,400	500	13,000	1,000
ACMI Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES		119,589	512,822	238,963
CAM [Member]
Segment Reporting Information [Line Items]
REVENUES	69,256	54,377	139,606	106,753
Interest expense	9,400	4,500	19,300	9,000
CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES		38,016	81,562	73,903
Ground Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	15,775	16,159	29,713	32,313
MRO Services [Member] [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
REVENUES	23,303	$ 29,069	57,284	$ 60,008
Flight Equipment [Member]
Segment Reporting Information [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	84,700		84,700		142,300
Operating Leases, Future Minimum Payments Receivable, in Two Years	163,300		163,300		127,100
Operating Leases, Future Minimum Payments Receivable, in Three Years	157,500		157,500		124,300
Operating Leases, Future Minimum Payments Receivable, in Four Years	131,300		131,300		121,200
Operating Leases, Future Minimum Payments Receivable, in Five Years	88,200		88,200		87,100
Operating Leases, Future Minimum Payments Receivable, Thereafter	$ 139,900		$ 139,900		$ 119,800

Segment Information (Entity-Wid

Segment Information (Entity-Wide Disclosures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Interest Expense	$ 16,804	$ 5,366	$ (34,194)	$ (10,728)
Customer revenues	334,576	203,607	682,759	406,647
Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues	334,576	203,607	682,759	406,647
CAM [Member]
Segment Reporting Information [Line Items]
Interest Expense	9,400	4,500	19,300	9,000
Customer revenues	69,256	54,377	139,606	106,753
CAM [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues		38,016	81,562	73,903
ACMI Services [Member]
Segment Reporting Information [Line Items]
Interest Expense	6,400	500	13,000	1,000
Customer revenues	254,938	119,606	512,894	238,980
ACMI Services [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues		119,589	512,822	238,963
All other [Member]
Segment Reporting Information [Line Items]
Customer revenues	71,104	65,361	138,466	137,259
All other [Member] | Customer Revenues [Member]
Segment Reporting Information [Line Items]
Customer revenues	$ 39,754	$ 46,002	$ 88,375	$ 93,781

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Fair Value Adjustment of Warrants	$ (29,000)	$ 10,800	$ (20,700)	$ (7,700)
REVENUES	334,576	203,607	682,759	406,647
Net earnings (loss) from continuing operations	(26,632)	24,464	(3,998)	40,146
EARNINGS FROM DISCONTINUED OPERATIONS, NET OF TAXES	$ 31	$ 170	$ 62	$ 366
Weighted average shares:
Basic (in shares)	58,909	58,739	58,874	58,790
Diluted (in shares)	58,909	68,363	58,874	68,784
Earnings (loss) per share from continuing operations
Basic (in dollars per share)	$ (0.45)	$ 0.42	$ (0.07)	$ 0.68
Diluted (in dollars per share)	$ (0.45)	$ 0.21	$ (0.07)	$ 0.48
ACMI Services [Member]
REVENUES	$ 254,938	$ 119,606	$ 512,894	$ 238,980

Acquisition of Business (Detail

Acquisition of Business (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Nov. 09, 2018
Business Acquisition [Line Items]
REVENUES	$ 334,576	$ 203,607	$ 682,759	$ 406,647
Goodwill	395,974		395,974		$ 390,745
Business Combination, Acquisition Related Costs	0	$ 0	373	0
Long-term Debt	1,442,018		1,442,018		1,401,252
Pro Forma [Member]
Business Acquisition [Line Items]
Depreciation	2,600			$ 5,300
Revolving Credit Facility [Member]
Business Acquisition [Line Items]
Long-term Debt	$ 515,000		$ 515,000		$ 475,000
Line of Credit Facility, Accordion Feature Amount						$ 300,000
Senior Notes 2nd Term Loan [Member]
Business Acquisition [Line Items]
Long-term Debt						$ 675,000

Uncategorized Items - a2019q210

Label	Element	Value
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	$ 0
Common Stock [Member]
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	$ 0
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited	1,300
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	$ 0