Whale Rider
Unity is Our Strength
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September 07, 2005 08:16 AM US Eastern Timezone
ABX Air Purchases Eleven Boeing 767 Aircraft from Delta Air Lines
WILMINGTON, Ohio--(BUSINESS WIRE)--Sept. 7, 2005--ABX Air (NASDAQ:ABXA) announced today that it has committed to purchase eleven Boeing 767-200 passenger aircraft from Delta Air Lines. The aircraft are in addition to the one Boeing 767-200 aircraft that ABX Air purchased and took delivery of from Delta Air Lines in July 2005.
The agreement calls for ABX Air to take delivery of six of the eleven aircraft in calendar year 2006, two in 2007 and three in 2008, with payment due upon the delivery of each aircraft.
ABX Air will use a combination of borrowed and internally generated cash flows to purchase and modify all eleven aircraft for approximately $190 million.
The Company anticipates that Israel Aircraft Industries Ltd. will modify the aircraft from passenger to freighter configuration. The modification will include the installation of a standard cargo door and an increase of the maximum takeoff weight to 351,000 lbs. The last of the eleven aircraft is expected to be in service in the fourth quarter of 2008.
"The Boeing 767-200 freighter has proven to be an extremely reliable and cost effective medium widebody aircraft," said Joe Hete, President & CEO of ABX Air. "The acquisition and modification of these aircraft will permit us to grow our non-DHL air cargo operations and further diversify our revenue base."
ABX Air, Inc. is a cargo airline with a fleet of 116 in-service aircraft that operates out of Wilmington, Ohio, and 18 hubs throughout the United States. ABX Air became an independent public company effective August 16, 2003, as a result of the separation from its former parent company, Airborne, Inc., which was acquired by DHL Worldwide Express B.V. In addition to providing airlift capacity and sort center staffing to DHL Express (USA), Inc., ABX Air provides charter and maintenance services to a diverse group of customers. With over 9,000 employees, ABX Air is the largest employer in a several county area in southwestern Ohio.
ABX Air Purchases Eleven Boeing 767 Aircraft from Delta Air Lines
WILMINGTON, Ohio--(BUSINESS WIRE)--Sept. 7, 2005--ABX Air (NASDAQ:ABXA) announced today that it has committed to purchase eleven Boeing 767-200 passenger aircraft from Delta Air Lines. The aircraft are in addition to the one Boeing 767-200 aircraft that ABX Air purchased and took delivery of from Delta Air Lines in July 2005.
The agreement calls for ABX Air to take delivery of six of the eleven aircraft in calendar year 2006, two in 2007 and three in 2008, with payment due upon the delivery of each aircraft.
ABX Air will use a combination of borrowed and internally generated cash flows to purchase and modify all eleven aircraft for approximately $190 million.
The Company anticipates that Israel Aircraft Industries Ltd. will modify the aircraft from passenger to freighter configuration. The modification will include the installation of a standard cargo door and an increase of the maximum takeoff weight to 351,000 lbs. The last of the eleven aircraft is expected to be in service in the fourth quarter of 2008.
"The Boeing 767-200 freighter has proven to be an extremely reliable and cost effective medium widebody aircraft," said Joe Hete, President & CEO of ABX Air. "The acquisition and modification of these aircraft will permit us to grow our non-DHL air cargo operations and further diversify our revenue base."
ABX Air, Inc. is a cargo airline with a fleet of 116 in-service aircraft that operates out of Wilmington, Ohio, and 18 hubs throughout the United States. ABX Air became an independent public company effective August 16, 2003, as a result of the separation from its former parent company, Airborne, Inc., which was acquired by DHL Worldwide Express B.V. In addition to providing airlift capacity and sort center staffing to DHL Express (USA), Inc., ABX Air provides charter and maintenance services to a diverse group of customers. With over 9,000 employees, ABX Air is the largest employer in a several county area in southwestern Ohio.