Corrado named chief operating officer of freighter lessor ATSG
12 / 09 / 2017
Air Transport Services Group (ATSG), freighter lessor to Amazon, has named Richard Corrado as chief operating officer (COO) of the US-based cargo aircraft leasing, conversion and services company.
Corrado, elected by the ATSG board of directors, has served since 2010 as chief commercial officer of ATSG, and president of its Cargo Aircraft Management (CAM) and Airborne Global Solutions(AGS) subsidiaries.
As COO, he assumes responsibility for the operating units of ATSG, including its cargo airlines and aircraft maintenance businesses. He will continue to report to ATSG president and chief executive Joe Hete in his new role, while maintaining his AGS responsibilities on an interim basis.
Hete credited Corrado with "leading the way" in presenting ATSG’s capabilities in mid-size freighter leasing and operating services for the rapidly growing regional express networks around the world. That includes the Amazon Prime Air network that ATSG serves with twenty leased Boeing 767 freighters, crews, and maintenance and logistics services.
Hete said: “During his more than seven years with ATSG, our externally leased portfolio of B767 freighters has more than tripled to forty-seven today, including the B767s we now lease to, and operate for, Amazon and DHL in the US.
“I am confident Rich will be just as effective in the future running our extensive collection of airline, maintenance and service businesses as I focus more on strategic opportunities and overall performance.”
Randy Rademacher, board chairman of ATSG, said that Corrado’s broad industry experience and success in building CAM into one of the world’s largest freighter aircraft lessors have contributed to substantial rewards for ATSG shareholders and increased opportunities for its employees.
Rademacher said: “I know I speak for the board in saying that Rich Corrado has demonstrated the comprehensive skill sets needed to both build and run profitable businesses of any scale. We are confident that as chief operating officer, he will work effectively with the talented leaders throughout the company to achieve even stronger performance and greater capabilities for our customers across the full range of our operating entities.”
Prior to joining ATSG, Corrado was chief operating officer of AFMS Logistics Management, and president of Transform Consulting Group. He also held other key senior marketing leadership positions in the air express industry, serving as executive vice president of air services for DHL Express, and senior vice president of marketing for Airborne Express.
Corrado said: "ATSG today is the pre-eminent growth story in the air cargo industry, with the right set of assets, people, and capabilities that represent comprehensive solutions for airlines, integrators and e-commerce marketers competing to reach their customers faster than ever before.
“I am eager to take on a new role as COO to work with our employees, associates and business partners around the world to help customers achieve their own business goals and to deliver increased value to our shareholders."
In August, ATSG reported adjusted earnings from continuing operations (excluding non-cash warrant-related items) up 64% at $13.9m for the second quarter 2017, ended June 30.
In the same month, Erickson Group’s Precision Aircraft Solutions arm and CAM joined the race to develop a passenger-to-freighter conversion of Airbus A321-200 aircraft.
In January this year, ATSG's Airborne Maintenance and Engineering Services subsidiary acquired passenger-to-freighter conversion firm Pemco.