ABX says NO THANK YOU to ASTAR

[Fly Astar Jets]

Bla Bla Bla

SPECIAL EMPLOYEE HOTLINE – August 1, 2007
Contact:
[email protected]​

ASTAR AIR CARGO ACQUIRES AIRCRAFT
TWO DC-8’s PURCHASED OFF LEASE..........​

This is the same ol' crap we've been dealing with since Daz showed up with his NWA retirement club boys. Daz N Co. are nothing but a bunch of professional window shoppers. Always looking, never buying. Don't get me wrong, I love the -73's. But the leasing Co probly told Daz "either buy'em or we're going somewhere else with 'em".​

 

[abxdx]

SPECIAL EMPLOYEE HOTLINE – August 1, 2007​

Contact:

[email protected]

ASTAR AIR CARGO ACQUIRES AIRCRAFT
TWO DC-8’s PURCHASED OFF LEASE
ASTAR Air Cargo today announced it has finalized terms to purchase two DC-8-73
aircraft with long-range capabilities and a spare engine currently leased from Bank of
America's leasing division. Acquisition financing to ASTAR has been arranged and is
being provided by HSH Nordbank AG, New York Branch. The aircraft are part of
ASTAR’s current dedicated fleet assigned to DHL Express under a long-term ACMI
agreement expiring in 2019.
“ASTAR made the strategic decision to purchase these airplanes to enhance our position
as a provider of airlift services for our primary customer, DHL Express,” said Steven A.
Rossum, Executive Vice President and Chief Financial Officer of ASTAR. “Less than a
year ago, HSH arranged and provided the financing to enable ASTAR to complete
the acquisition of 20 Boeing 727-200A Freighters. This newest acquisition of aircraft is
consistent with our business growth strategy to lower our costs and enhance our
competitiveness. I would like to thank HSH Nordbank and Bank of America, for their​

roles in enabling ASTAR to carry out this important transaction.”

Hang on everyone here comes ASTAR to capture the market for DHL!!!!
​

Wow! How exactly is investing in 30+ yr old acft that require 3 crewmembers going to lower costs and enhance competitiveness. I wonder where they got those DC8'S from? The DC8 has seen its day, I will always hold a special place in my heart for them, but they are not viable anymore...
​

 

[LarryinTN]

Am I correct in reading that to say that these two DC8-73s are already being operated by Astar and that the transaction is just so that they'll now own them instead of leasing them? If so, why did they only buy two? Wouldn't it make sense to buy them all?

 

[hvydriver]

Am I correct in reading that to say that these two DC8-73s are already being operated by Astar and that the transaction is just so that they'll now own them instead of leasing them? If so, why did they only buy two? Wouldn't it make sense to buy them all?

They are just buying them up as the leases come up for renewal LJ.

 

[ABXbooger]

Didn't they lose one not to long ago as the lease came up?

 

[hvydriver]

Didn't they lose one not to long ago as the lease came up?

Yeah. They were diddling around trying to buy 809, and as the lease drew to a close the leasing company cut a contract with another company. They don't want that to happen again.

 

[Cargoav8or]

Yeah. They were diddling around trying to buy 809, and as the lease drew to a close the leasing company cut a contract with another company. They don't want that to happen again.

Yes, because that would force them into attempting to buy efficient aircraft.

Where's Shooter, must be out the country.

Nothing to see here folks, just laugh and move along. Were used to it.
:blush:

 

[shooter]

Yes, because that would force them into attempting to buy efficient aircraft.

Where's Shooter, must be out the country.

Nothing to see here folks, just laugh and move along. Were used to it.
:blush:

I lurk.

 

[hvydriver]

I lurk.

He lurks. Therefore, He Is.

 

[flyinboxes]

Oh boy, what a commitment!! Bla, bla,bla.

LOL! Why even put that out....who gives a crap.

 

[s2b]

All that big news and they still added one more day to retro pay!

 

[ABXbooger]

According to this article, you guys are expanding! Congrats...




ASTAR acquires two more DC-8's
Air Cargo World, Thursday August 02, 2007


ASTAR Air Cargo, in a move to expand following the collapse of their bid for fellow DHL carrier ABX, finalized terms to purchase two DC-8-73 aircraft. The planes have long-range capabilities and come with a spare engine. They are being purchased from Bank of America's leasing division, which had leased them to ASTAR as part of ASTAR's current dedicated fleet assigned to DHL Express under a long-term ACMI agreement expiring in 2019. HSH Nordbank AG, New York Branch, arranged and provided acquisition financing to ASTAR.

"ASTAR made the strategic decision to purchase these airplanes to enhance our position as a provider of airlift services for our primary customer, DHL Express," said Steven A. Rossum, executive vice president and chief financial officer of ASTAR. "This newest acquisition of aircraft is consistent with our business growth strategy to lower our costs and enhance our competitiveness," Rossum said. The purchase raises the question of whether the added capacity may put ASTAR into greater competition with ABX for DHL operations. ABX and DHL have had an increasingly rocky relationship and DHL has grown closer to ASTAR, adding a large stake in the cargo carrier and taking a seat on the airline's four-member board.

 

[LarryinTN]

I think that's saying that they've bought two of their current DC8s which were previously being leased. It isn't an increase in their fleet, just changing the ownership of existing airplanes.

 

[AV8OR]

If AStar felt this was good for us....super. However a press release? Please.

I got up and scratched myself this morning, which was good for me, but I didn't feel the need to put out a press release about it. Why? Cause just like the AStar press release....NOBODY CARES Dasburg, Rossum, McKeen, et al!

If they don't give us a contract in the next 30 days, their by-God gonna see what a real press release looks like.

No worries boog.

 

[Cargoav8or]

They are trying to put the fear of God in the ABX shareholders. Can't you tell its working, especially today.

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