Air Transport Services shares dive after DB Schenker warning

Shares of Air Transport Services Group fell 16 percent in morning trading after the company warned that it expects reduced business from its second-largest customer. The Wilmington-based cargo carrier said it received notice from DB Schenker, a transportation and logistics firm, that it is phasing out the dedicated air-cargo network supported by our ATSG subsidiaries. "While we are continuing to evaluate that notice in the context of our other communications with DB Schenker, we expect a reduction in our role as a provider of main-deck freighter lift for DB Schenker in North America," CEO Joe Hete said...

Source: http://feeds.bizjournals.com/~r/bizj_cincinnati/~3/ILlKG-CEnNI/air-transport-services-shares-dive.html

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