Air Transport Group (ATSG) shares increase after conversion of subsidiary PEMCO, which delivers second converted passenger aircraft to FlexCombi

What’s going on with the Air Transport Services Group?

PEMCO Conversions, a subsidiary of Air Transport Services Group, Inc. (ATSG), announced the delivery of a second converted passenger aircraft to FlexCombi to Bahrain-based Chisholm Enterprises, a provider of bespoke aviation and business solutions in the Middle -East. Texel Air, a subsidiary of Chisholm, a non-scheduled cargo airline, will operate the Boeing 737-700FC from Bahrain International Airport.

ATSG shares rose 0.48% to $ 27.32 per share on Thursday afternoon.

What does this mean for ATSG?

The Chisholm aircraft includes several enhancements to increase operational flexibility, including head-up displays, enhanced vision systems, medevac capability and emergency vision assurance systems.

“The FlexCombi range is ideal for supporting Texel Air operation with non-stop routes of up to six hours,” said Mike Andrews, director of conversion programs for PEMCO. “We are proud that Chisholm Enterprises continues to trust PEMCO to deliver a high quality conversion that incorporates a customer focused design backed by long term operational reliability. “

John Chisholm, President and Owner of Chisholm Enterprises, added that the company has “shared a very successful story with PEMCO Conversions… having received and deployed the first B737-700 FlexCombi in August 2020, as well as four previous converted B737-300 freighters” .

Air Transport Services Group Inc. has a bullish sentiment reading. Find out what this means to you and get the rest of the leaderboard on ATSG!

Air Transport Services Group Inc and its subsidiaries operate in the air cargo and logistics industry. It leases aircraft and provides flight operations, ground services, aircraft modification and maintenance, and other support services primarily to the freight transportation and parcel delivery industries. The company has two segments to present, namely cargo aircraft management and ACMI services (aircraft, crew, maintenance and insurance). It generates the majority of its turnover in the ACMI services segment.

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