LongBoarder
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ABEX News?
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AV8OR
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Well here's the latest with DHL:
CHAIRMAN AND CEO JOHN DASBURG AND U.S. INVESTORS TO PURCHASE ALL OUTSTANDING SHARES OF DHL AIRWAYS
For Immediate Release
Miami, (May 21, 2003) – DHL Airways today announced that a U.S. investor group, led by its Chairman and Chief Executive Officer John Dasburg, has reached an agreement to purchase all of the outstanding shares of DHL Airways, Inc. Dasburg said that the transaction will further solidify the airline’s U.S. control and management, while putting the company on a new path toward becoming a global air cargo leader. The name of the company will be changed in the near future.
The other members of the investment group are Richard C. Blum, Chairman of San Francisco-based Blum Capital Partners, L.P., a leading private equity firm, and Michael R. Klein, a Washington, D.C. business executive and lawyer who is co-founder and Chairman of the Board of Directors of CoStar Group, Inc.
According to Dasburg, the company will continue to focus on what has been its core business – “wholesale” overnight “small package” business – while at the same time looking for attractive opportunities to expand its charter, Department of Defense, and Postal Service business. Growth will occur both through internal expansion and through future acquisitions. The airline also will improve utilization of its existing fleet of 40 aircraft for additional charter opportunities.
Dasburg currently owns 5% of the airline. The remaining shares of DHL Airways are being purchased from Idaho private investor William A. Robinson and from DHL Holdings (USA), Inc.
The prospective owners expect to complete the acquisition of DHL Airways by June 30, 2003 and plan to operate the airline as a privately held company. Dasburg will continue to serve as Chairman and CEO, a position he assumed on April 1, 2003. The acquisition is subject to approval by the U.S. Department of Transportation.
Prior to joining DHL Airways, Dasburg served as Chairman, Chief Executive Officer and President of the Burger King Corporation. He led the turnaround of the company that culminated in its December 2002 sale. Prior to joining Burger King, Dasburg served ten years as President and Chief Executive Officer of Northwest Airlines, the world's fourth largest airline. Under Dasburg's leadership as President and CEO of Northwest, the company established its reputation for operational excellence,
experienced consistent and profitable growth and became known as a strategic innovator.
DHL Airways also announced today that, upon completion of the sale of the company, it would enter into a new 11-year agreement to provide air cargo services for DHL Worldwide Express.
In announcing the details of the acquisition, Dasburg emphasized that DHL Airways is now -- and will continue to be -- an American company. “DHL Airways is all-American owned and all-American managed. It employs nearly 1,000 Americans,” said Dasburg. Dasburg also noted that the airline and its employees were actively engaged in providing service to the U.S. Department of Defense during the Iraqi conflict, and currently serves the U.S. military with missions to Guantanamo Bay, Cuba, Roosevelt Roads, Puerto Rico, Ramstein Air Force Base, Germany, and other military bases around the world.
DHL Airways maintains a cargo hub at Cincinnati/Northern Kentucky International Airport and operates 40 aircraft in the United States. The company is headquartered in Miami, Florida.
Media Contact: Matthew Triaca, Burson-Marsteller 202-530-4690 (office), 202-255-0602 (cell)
CHAIRMAN AND CEO JOHN DASBURG AND U.S. INVESTORS TO PURCHASE ALL OUTSTANDING SHARES OF DHL AIRWAYS
For Immediate Release
Miami, (May 21, 2003) – DHL Airways today announced that a U.S. investor group, led by its Chairman and Chief Executive Officer John Dasburg, has reached an agreement to purchase all of the outstanding shares of DHL Airways, Inc. Dasburg said that the transaction will further solidify the airline’s U.S. control and management, while putting the company on a new path toward becoming a global air cargo leader. The name of the company will be changed in the near future.
The other members of the investment group are Richard C. Blum, Chairman of San Francisco-based Blum Capital Partners, L.P., a leading private equity firm, and Michael R. Klein, a Washington, D.C. business executive and lawyer who is co-founder and Chairman of the Board of Directors of CoStar Group, Inc.
According to Dasburg, the company will continue to focus on what has been its core business – “wholesale” overnight “small package” business – while at the same time looking for attractive opportunities to expand its charter, Department of Defense, and Postal Service business. Growth will occur both through internal expansion and through future acquisitions. The airline also will improve utilization of its existing fleet of 40 aircraft for additional charter opportunities.
Dasburg currently owns 5% of the airline. The remaining shares of DHL Airways are being purchased from Idaho private investor William A. Robinson and from DHL Holdings (USA), Inc.
The prospective owners expect to complete the acquisition of DHL Airways by June 30, 2003 and plan to operate the airline as a privately held company. Dasburg will continue to serve as Chairman and CEO, a position he assumed on April 1, 2003. The acquisition is subject to approval by the U.S. Department of Transportation.
Prior to joining DHL Airways, Dasburg served as Chairman, Chief Executive Officer and President of the Burger King Corporation. He led the turnaround of the company that culminated in its December 2002 sale. Prior to joining Burger King, Dasburg served ten years as President and Chief Executive Officer of Northwest Airlines, the world's fourth largest airline. Under Dasburg's leadership as President and CEO of Northwest, the company established its reputation for operational excellence,
experienced consistent and profitable growth and became known as a strategic innovator.
DHL Airways also announced today that, upon completion of the sale of the company, it would enter into a new 11-year agreement to provide air cargo services for DHL Worldwide Express.
In announcing the details of the acquisition, Dasburg emphasized that DHL Airways is now -- and will continue to be -- an American company. “DHL Airways is all-American owned and all-American managed. It employs nearly 1,000 Americans,” said Dasburg. Dasburg also noted that the airline and its employees were actively engaged in providing service to the U.S. Department of Defense during the Iraqi conflict, and currently serves the U.S. military with missions to Guantanamo Bay, Cuba, Roosevelt Roads, Puerto Rico, Ramstein Air Force Base, Germany, and other military bases around the world.
DHL Airways maintains a cargo hub at Cincinnati/Northern Kentucky International Airport and operates 40 aircraft in the United States. The company is headquartered in Miami, Florida.
Media Contact: Matthew Triaca, Burson-Marsteller 202-530-4690 (office), 202-255-0602 (cell)
AV8OR
Well-known member
- Joined
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OK sorry.
There have been several reports out and I thought I had posted the one that said something about ABX. ABF, the ground side has already been agreed to be purchased. ABX, the air side is what is left if it all goes through.
Not much but here's another:
"21 May 2003 23:44 BST
UPDATE 2-Group led by DHL Airways head to buy company
(Recast first paragraph, adds details throughout, adds bylines)
By Tom Johnson and Julie MacIntosh
NEW YORK, May 21 (Reuters) - Air cargo shipper DHL Airways said on Wednesday a U.S. investment group led by its chairman agreed to buy out the company's two other shareholders for $57 million, hoping to quell concerns about its ownership structure.
The investment group, led by DHL Airways Chairman and Chief Executive John Dasburg, intends to purchase the 95-percent equity stake held by Idaho investor William Robinson and the U.S. arm of DHL International, a Brussels-based subsidiary of Germany's Deutsche Post DPWGn.DE .
Dasburg, whose investment partners include Richard C. Blum of San Francisco's Blum Capital Partners and Michael Klein, a Washington, D.C.-based attorney, currently owns the remaining 5-percent stake.
The deal is designed to provide some clarity to the cargo carrier's complicated ownership structure, which has left DHL Airways caught in a political firestorm on Capitol Hill.
Currently, Robinson controls a 75-percent voting stake in DHL Airways, but owns only a 52.25-percent equity stake. DHL International owns 42.25 percent of the equity, and controls the remaining voting rights.
Rival U.S. competitors FedEx Corp. FDX.N and United Parcel Service Inc. UPS.N , along with some members of Congress, contend Deutsche Post's interest in the company violates U.S. laws limiting foreign ownership of domestic airlines.
A U.S. Department of Transportation law judge has already held an initial hearing to delve into the complaints. Investors also fear the scrutiny could ultimately have an impact on the regulatory review of Deutsche Post's proposed $1.05 billion deal to acquire Airborne Inc.'s ABF.N ground delivery business.
A Deutsche Post spokesman confirmed the sale but declined to comment further. But Dasburg said the merger should eliminate the ownership doubts once and for all.
"DHL Airways is all-American owned and all-American managed," he said in a statement.
Still, industry experts have said the air carrier's revenue, which largely comes from its business with DHL Worldwide, could also be scrutinized.
"This changes nothing in relation to the ongoing mater at the Department of Transportation," said David Bolger, a UPS spokesman. "This is a name change in an organization chart. The central issue remains the same. We feel Deutsche Post, the German postal monopoly, is in control of DHL Airways."
DHL Worldwide and DHL Airways are both partners of DHL International. DHL Airways announced on Wednesday it has entered into a new 11-year agreement to ship air cargo for DHL Worldwide. DHL Airways said the arms-length deal gives it "a solid and reliable base of business" but does not restrict deals with other customers.
"I know of no case around that says you can't have a big customer," said Ray Lutz, a DHL Airways vice president of business development and strategic planning. "We're going to certainly go out get a lot business. In the meantime, I have them as a customer locked up for 11 years. As long as I perform, they can't go anywhere. What's wrong with that?"
DHL Airways said the name and logo of the company, which will remain privately held, will soon be changed. It expects the transaction, which is subject to approval by the Department of Transportation, to be completed by June 30.
Dasburg will stay on as chairman and CEO. He took over the positions on April 1.
The investment group declined to comment on whether it was in discussions to acquire ABX Air, Airborne's air cargo unit. Airborne has said it will spin off ABX to shareholders prior to its merger with Deutsche Post to avoid violating the U.S. foreign ownership laws. (Additional reporting by Julie MacIntosh in New York and Jeff Mason in Frankfurt)"
There have been several reports out and I thought I had posted the one that said something about ABX. ABF, the ground side has already been agreed to be purchased. ABX, the air side is what is left if it all goes through.
Not much but here's another:
"21 May 2003 23:44 BST
UPDATE 2-Group led by DHL Airways head to buy company
(Recast first paragraph, adds details throughout, adds bylines)
By Tom Johnson and Julie MacIntosh
NEW YORK, May 21 (Reuters) - Air cargo shipper DHL Airways said on Wednesday a U.S. investment group led by its chairman agreed to buy out the company's two other shareholders for $57 million, hoping to quell concerns about its ownership structure.
The investment group, led by DHL Airways Chairman and Chief Executive John Dasburg, intends to purchase the 95-percent equity stake held by Idaho investor William Robinson and the U.S. arm of DHL International, a Brussels-based subsidiary of Germany's Deutsche Post DPWGn.DE .
Dasburg, whose investment partners include Richard C. Blum of San Francisco's Blum Capital Partners and Michael Klein, a Washington, D.C.-based attorney, currently owns the remaining 5-percent stake.
The deal is designed to provide some clarity to the cargo carrier's complicated ownership structure, which has left DHL Airways caught in a political firestorm on Capitol Hill.
Currently, Robinson controls a 75-percent voting stake in DHL Airways, but owns only a 52.25-percent equity stake. DHL International owns 42.25 percent of the equity, and controls the remaining voting rights.
Rival U.S. competitors FedEx Corp. FDX.N and United Parcel Service Inc. UPS.N , along with some members of Congress, contend Deutsche Post's interest in the company violates U.S. laws limiting foreign ownership of domestic airlines.
A U.S. Department of Transportation law judge has already held an initial hearing to delve into the complaints. Investors also fear the scrutiny could ultimately have an impact on the regulatory review of Deutsche Post's proposed $1.05 billion deal to acquire Airborne Inc.'s ABF.N ground delivery business.
A Deutsche Post spokesman confirmed the sale but declined to comment further. But Dasburg said the merger should eliminate the ownership doubts once and for all.
"DHL Airways is all-American owned and all-American managed," he said in a statement.
Still, industry experts have said the air carrier's revenue, which largely comes from its business with DHL Worldwide, could also be scrutinized.
"This changes nothing in relation to the ongoing mater at the Department of Transportation," said David Bolger, a UPS spokesman. "This is a name change in an organization chart. The central issue remains the same. We feel Deutsche Post, the German postal monopoly, is in control of DHL Airways."
DHL Worldwide and DHL Airways are both partners of DHL International. DHL Airways announced on Wednesday it has entered into a new 11-year agreement to ship air cargo for DHL Worldwide. DHL Airways said the arms-length deal gives it "a solid and reliable base of business" but does not restrict deals with other customers.
"I know of no case around that says you can't have a big customer," said Ray Lutz, a DHL Airways vice president of business development and strategic planning. "We're going to certainly go out get a lot business. In the meantime, I have them as a customer locked up for 11 years. As long as I perform, they can't go anywhere. What's wrong with that?"
DHL Airways said the name and logo of the company, which will remain privately held, will soon be changed. It expects the transaction, which is subject to approval by the Department of Transportation, to be completed by June 30.
Dasburg will stay on as chairman and CEO. He took over the positions on April 1.
The investment group declined to comment on whether it was in discussions to acquire ABX Air, Airborne's air cargo unit. Airborne has said it will spin off ABX to shareholders prior to its merger with Deutsche Post to avoid violating the U.S. foreign ownership laws. (Additional reporting by Julie MacIntosh in New York and Jeff Mason in Frankfurt)"
LR25
Its just a vintage VW
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- Nov 25, 2001
- Posts
- 1,641
That last paragragh is the first I have heard of anything about ABX being involved in the buyout. As far as I know ABX will be a contract carrier for DHL and just a tennant in ILN (Wilmington).
Maybe we shouldnt have cut up all of those 8's, never thought I would say this, but long live the "C" container, thats the only thing that will keep ABX, ABX.
These are strange times, not really sure where its heading with ABX.
Maybe we shouldnt have cut up all of those 8's, never thought I would say this, but long live the "C" container, thats the only thing that will keep ABX, ABX.
These are strange times, not really sure where its heading with ABX.
AV8OR
Well-known member
- Joined
- Dec 2, 2001
- Posts
- 696
"That last paragragh is the first I have heard of anything about ABX being involved in the buyout. As far as I know ABX will be a contract carrier for DHL and just a tennant in ILN (Wilmington)."
Not sure how it's gonna fly. Lot's of rumors flying around DHL Airways these days. DHL has a pretty good Scope clause that limits DHL ground in the amount of ACMI contracting they can do and they have maxed it out already. Also, DHL Airways currently has a 10 year exclusive ACMI agreement with DHL ground but what we don't know if the new company, XYZ Air or whatever it'll be called, will have the same agreement. It's all changing rapidly and how the ABX and DHL? Airways pilot groups will be affected is yet to be determined. I'll say this though, when you pay only $57Mill for an airline, if you have any ability to raise capital, you should be easily able to refleet with more efficient equipment.
Any bombshell news on ABX or DHL, (cause we are kind of linked right now) I'll post. ABF, as a brand, is as good as gone.
Not sure how it's gonna fly. Lot's of rumors flying around DHL Airways these days. DHL has a pretty good Scope clause that limits DHL ground in the amount of ACMI contracting they can do and they have maxed it out already. Also, DHL Airways currently has a 10 year exclusive ACMI agreement with DHL ground but what we don't know if the new company, XYZ Air or whatever it'll be called, will have the same agreement. It's all changing rapidly and how the ABX and DHL? Airways pilot groups will be affected is yet to be determined. I'll say this though, when you pay only $57Mill for an airline, if you have any ability to raise capital, you should be easily able to refleet with more efficient equipment.
Any bombshell news on ABX or DHL, (cause we are kind of linked right now) I'll post. ABF, as a brand, is as good as gone.
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