ATSG Board of Directors Approves Share Repurchase Authorization

Wilmington, OH—August 5, 2014—Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced its Board of Directors has authorized the Company to repurchase up to $50 million of its common shares.

The Board authorization does not require the Company to repurchase a specific number of shares, and the Board may terminate the repurchase program at any time. Repurchases may be made from time-to-time on the open market, or in privately negotiated transactions. The timing, price and volume of any such repurchases would be based on market conditions, relevant securities laws and other factors.

ATSG President and CEO Joe Hete said, “The Board has decided to provide for a share repurchase program, to be used when and to the degree that repurchases are deemed to be in the best interest of all shareholders of ATSG. Investors are aware that ATSG is subject to debt covenants that for a time will limit the net benefit of any such repurchases. With this authority, however, we now have the means to act if and when both market conditions and our assessment of the appropriate mix of capital allocation alternatives indicate that share repurchases would be appropriate.”