Tue. 27 Feb 2024, 2:02am ET
Benzinga
Earnings, News, Guidance
2024 Outlook
ATSG expects Adjusted EBITDA of approximately $506 million in 2024, down $56 million from 2023. Those forecasts exclude any contribution from additional aircraft leases or flying opportunities not currently under contractual commitment, which could generate additional Adjusted EBITDA above $506 million. Capital spending in 2024 is projected at $410 million, down $380 million from 2023.
Key factors in our 2024 Adjusted EBITDA forecast are:
- $55 million decline in earnings related to our 767-200 freighters versus 2023, due to fewer leased freighters and lower engine utilization.
- Four additional external dry leases of 767-300 freighters, two of which have already been delivered.
- Three 767-300 freighters returned upon lease expiration, including two late in the second half.
- Lower block hours at our airline operations.