EBITDA from Continuing Operations is defined as Earnings from Continuing Operations Before Income Taxes plus net interest expense, depreciation, and amortization expense. Adjusted EBITDA from Continuing Operations is defined as EBITDA from Continuing Operations plus asset impairment charges, net derivative losses, less derivative gains, plus the write-off related to the termination of certain credit agreements in conjunction with the refinancing of the Company's debt.

Management uses EBITDA from Continuing Operations as an indicator of the cash-generating performance of the operations of the Company. Management uses Adjusted EBITDA and Adjusted Pre-tax Earnings from Continuing Operations to assess the performance of its operating results among periods. EBITDA and Adjusted EBITDA from Continuing Operations, and Adjusted Pre-tax Earnings should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP, or as an alternative measure of liquidity.
 
AIR TRANSPORT SERVICES GROUP, INC. AND SUBSIDIARIES

IN-SERVICE AIRCRAFT FLEET
 
Aircraft Types
  December 31,       September 30,       December 31,
2011 2012 2012 Projected
    Operating     Operating     Operating
Total Owned Lease Total Owned Lease Total Owned Lease
B767-200 40 36 4 40 36 4 40 36 4
B767-300 3 2 1 6 4 2 7 5 2
B757-200 3 3 3 3 4 4
DC-8 3 3 2 2 2 2
DC-8 Combi 4 4 4 4 4 4
B727-200 4 4 4 4 3 3
Total Aircraft In-Service 57 52 5 59 53 6 60 54 6
 
Owned Aircraft Placements
December 31, September 30, December 31,
2011 2012 2012 Projected
 
ATSG airlines 31 32 32-34
External customers 21 21 20-22
52 53

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