<?xml version="1.0"?><?xml-stylesheet type="text/xsl" href="../4_X02.xsl"?><ownershipDocument>    <schemaVersion>X0303</schemaVersion>    <documentType>4</documentType>    <periodOfReport>2008-11-20</periodOfReport>    <notSubjectToSection16>0</notSubjectToSection16>    <issuer>        <issuerCik>0000894081</issuerCik>        <issuerName>Air Transport Services Group, Inc.</issuerName>        <issuerTradingSymbol>ATSG</issuerTradingSymbol>    </issuer>    <reportingOwner>        <reportingOwnerId>            <rptOwnerCik>0001407542</rptOwnerCik>            <rptOwnerName>Graber John Wesley</rptOwnerName>        </reportingOwnerId>        <reportingOwnerAddress>            <rptOwnerStreet1>C/O AIR TRANSPORT SERVICES GROUP, INC.</rptOwnerStreet1>            <rptOwnerStreet2>145 HUNTER DRIVE</rptOwnerStreet2>            <rptOwnerCity>WILMINGTON</rptOwnerCity>            <rptOwnerState>OH</rptOwnerState>            <rptOwnerZipCode>45177</rptOwnerZipCode>            <rptOwnerStateDescription></rptOwnerStateDescription>        </reportingOwnerAddress>        <reportingOwnerRelationship>            <isDirector>0</isDirector>            <isOfficer>1</isOfficer>            <isTenPercentOwner>0</isTenPercentOwner>            <isOther>0</isOther>            <officerTitle>President - ABX Air</officerTitle>        </reportingOwnerRelationship>    </reportingOwner>    <nonDerivativeTable>        <nonDerivativeTransaction>            <securityTitle>                <value>Common Stock</value>            </securityTitle>            <transactionDate>                <value>2008-11-20</value>            </transactionDate>            <transactionCoding>                <transactionFormType>4</transactionFormType>                <transactionCode>P</transactionCode>                <equitySwapInvolved>0</equitySwapInvolved>            </transactionCoding>            <transactionAmounts>                <transactionShares>                    <value>130000</value>                </transactionShares>                <transactionPricePerShare>                    <value>0.16</value>                </transactionPricePerShare>                <transactionAcquiredDisposedCode>                    <value>A</value>                </transactionAcquiredDisposedCode>            </transactionAmounts>            <postTransactionAmounts>                <sharesOwnedFollowingTransaction>                    <value>204400</value>                </sharesOwnedFollowingTransaction>            </postTransactionAmounts>            <ownershipNature>                <directOrIndirectOwnership>                    <value>D</value>                </directOrIndirectOwnership>            </ownershipNature>        </nonDerivativeTransaction>    </nonDerivativeTable>    <remarks>POA on file.</remarks>    <ownerSignature>        <signatureName>W. Joseph Payne for:  John W. Graber</signatureName>        <signatureDate>2008-11-24</signatureDate>    </ownerSignature></ownershipDocument>