Expanding ATSG profit shrinks

US-based air cargo carrier Air Transport Services Group (ATSG) has reported a 41.7 per cent drop in 2011 net income to US$23.2 million.

Costly upgrades to the fleet included nine 767 converted freighters and one 757F during the year. ATSG expects to add a further seven 767Fs and two 757 combi-aircraft this year.

The company is in the process of retiring its remaining 727 and DC-8 freighters.

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