WILMINGTON, OH: Air Transport Services Group (ATSG) has signed a new leasing deal with DHL to operate 15 B767 freighters for the company's U.S. air network.
The contract extends current dry leases to DHL of 13 B767 freighters through March 2019 and adds two more B767 freighters over the same period.
Joe Hete, president and CEO of ATSG, said the agreement marks the next stage in the company's 11-year relationship with DHL: "This new agreement will give DHL continued access to efficient, reliable freighter services in the U.S. market," Hete said. "With more than half of our 45 Boeing 767 freighters deployed under multi-year dry leases producing attractive cash flow returns, additional business arising from an improving air freight environment, and growth in our maintenance services and other operations, we intend to begin returning capital to our shareholders through our share repurchase program starting in the second quarter of 2015."
ATSG claims to be the world's largest owner and operator of converted Boeing B767 freighter aircraft. The company provides aircraft leasing, air cargo lift, aircraft maintenance services and airport ground services.
DHL has also recognized another supplier for its service with an award to ocean carrier CMA CGM for the second year running: "Over the last three years, the company has proven to be a trustworthy partner of ours and reliably delivers on most of our requirements," said Dominique von Orelli, global head of FCL Product & Capacity Management, DHL Global Forwarding. "CMA CGM has aligned its regional footprint, which resulted in a true global strategy and coverage. This allows us to have one common approach regardless of the geographic location, our and thus offer a high-level service to customers around the globe," she added.
Not surprisingly DHL says it will be increasing its business with the carrier "even further" in 2015.