Air Transportation Services: Declaration of Change of Beneficial Ownership (Form 4)

By Bronwyn T. Perea Last updated Mar 29, 2022

Property Submission

FORM 4

Check this box if you are no longer subject to section 16, the obligations of Form 4 or Form 5 may continue. To see Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549STATEMENT OF CHANGES IN THE EFFECTIVE BENEFICIARIES OF THE SHARES Filed under Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and address of reporting person ^*

Teets John Christopher

2. Name of issuer and stock symbol or trading symbol
Airline Services Group, Inc. [ATSG]

5. Relationship between the reporting person(s) and the issuer
(Check all that apply)

__X__ Director	_____ 10% Owner
_____ Officer (indicate title below)	_____ Other (specify below)

(Last)	(First)	(Environment)
C/O RED MOUNTAIN CAPITAL PARTNERS LLC, 10100 SANTA MONICA BOULEVARD, SUITE 925

3. Date of first transaction (month/day/year)

(Street)
LOS ANGELES	California	90067

4. In case of modification, date of filing of the original (month/day/year)

6. Individual or joint/group filing (check applicable row)
_X_ Form filed by a reporting person
___ Form filed by more than one declarant

Table I – Non-derivative securities acquired, sold or beneficially owned

1. Title of guarantee	2. Transaction date (month/day/year)	2A. Deemed execution date, if applicable (month/day/year)	3. Transaction code	4. Securities acquired (A) or transferred (D)	5. Amount of securities beneficially owned as a result of the reported transaction(s)	6. Form of ownership: direct (D) or indirect (I)	7. Nature of Indirect Beneficial Ownership
Coded	V	Rising	(A) or (D)	Price

Table II – Beneficial ownership derivative securities (for exampleputs, calls, warrants, options, convertible securities)
(for exampleputs, calls, warrants, options, convertible securities)

1. Title of derivative title	2. Conversion or exercise price of the derivative security	3. Transaction date (month/day/year)	3A. Deemed execution date, if applicable (month/day/year)	4. Transaction code	5. Number of derivative securities acquired (A) or sold (D)	6. Exercise date and expiry date	7. Title and amount of the securities underlying the derivative securities	8. Price of derivative securities	9. Number of derivative securities beneficially owned as a result of reported transactions	10. Form of ownership of derivative securities: direct (D) or indirect (I)	11. Nature of Indirect Beneficial Ownership
Coded	V	(A)	(D)	Exercise date	Expiration date	Title	Amount or number of shares

Reporting owners

Name/address of declaring owner	Relationships
Director	10% Owner	Officer	Other
Teets John Christopher A/S RED MOUNTAIN CAPITAL PARTNERS LLC 10100 SANTA MONICA BOULEVARD, SUITE 925 LOS ANGELES, CA90067	X

Signatures

/s/ W. Joseph Payne for: John Christopher Teets	2022-03-29
^**Signature of declaring person	Dated

Explanation of answers:

	If the form is completed by several declarants, to see
Section 5(b)(v).	(*) Intentional misrepresentation or omission of facts are federal criminal offenses.* To see
18 USC 1001 and 15 USC 78ff(a).	(1)
Restricted share units will be exchanged for common shares on an individual basis.	(2)
These units will be liquidated on March 25, 2023.	(3)
There is no expiration date.	(4)

The price of the restricted shares will be determined on the settlement date. Note: Submit three copies of this form, one of which must be manually signed. If space is insufficient, To see

Instruction 6 for the procedure. Potential individuals who need to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

Warning ATSG – Air Transport Services Group Inc. published this content on March 29, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, onMar 29, 2022 6:07:11 PM UTC

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Analyst Recommendations for AIR TRANSPORT SERVICES GROUP, INC.

	2022 sales 1,979 million –
–	2022 net income 176 million –
–	Net debt 2022 1,237 million –
–	PER 2022 ratio
16.8x	2022 return

–	Capitalization 2,481 million 2,481 million
–	EV / Sales 2022
1.88x	EV / Sales 2023
1.75x	# of employees
5,280	Floating

98.2%

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Trends in Technical Analysis AIR TRANSPORT SERVICES GROUP, INC.

		Short term	Middle term
Long term	Tendencies	Bullish	Bullish

Bullish

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To buy	Medium consensus
TO BUY	Number of analysts
6	Last closing price
$33.66	Average target price
$35.67	Average Spread / Target

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