ABX to list on NASDAQ

[ABXbooger]

ABX files to list stock on Nasdaq
By James Pilcher, Cincinnati Enquirer, Thursday April 07, 2005


WILMINGTON, Ohio - ABX Air Inc., the company that operates the air cargo hub here for international shipping giant DHL, has made its much-anticipated filing to be listed on the Nasdaq stock exchange. The company, founded as a public company in August 2003 as a spinoff of DHL's purchase of Airborne Express, said Wednesday that it sent the appropriate paperwork and hopes to have an answer within six weeks. ABX Air president and chief executive officer Joe Hete said the company had been waiting for two key decisions by DHL. The first was DHL's decision last June to consolidate its hub operations at the Airborne site in Wilmington. It moved operations from its other hub at the Cincinnati/Northern Kentucky International Airport. The second decision came in November, when DHL said it was moving only 26 planes from Cincinnati (owned by Astar Air Cargo) to Wilmington. Hete said there was worry that DHL would move up to 40 planes, which would have displaced existing ABX Air operations. ABX trades as an over-the-counter stock, which is off-limits to many institutional investors. Its shares were selling at $7.65 at the close of the market Wednesday.

ABX Air chairman James H. Carey said the move could increase the company's liquidity. "And it certainly moves us to an exchange with more visibility," said Hete, who added that ABX does not plan to issue more stock. The application still needs Nasdaq approval, but Hete said he does not anticipate any problems since the company's corporate governance policies mirror those of Nasdaq and the stock price is well above the $5-per-share minimum. "From the get-go, we set this up around their rules with this in mind," Hete said.

 

[Eaglepuke]

Great. Does anyone think this might mean some hiring soon or what? Been swimmin quite some time.

 

[fr8dogfo]

"The second decision came in November, when DHL said it was moving only 26 planes from Cincinnati (owned by Astar Air Cargo) to Wilmington. Hete said there was worry that DHL would move up to 40 planes, which would have displaced existing ABX Air operations. "



Sorry but this part isn't true. Astar IS moving ALL aircraft to ILN.

 

[Airbus300]

The second decision came in November, when DHL said it was moving only 26 planes from Cincinnati (owned by Astar Air Cargo) to Wilmington. Hete said there was worry that DHL would move up to 40 planes, which would have displaced existing ABX Air operations.

Abxbooger,
What is your take on this? Do you think that DHL is telling Astar one story, and ABX Air another? Or do you think that the reporter mistook what Hete was saying. I don't think that Joe Hete would intentionally mislead the investing public. Our management confirmed with DHL as of today that all of our airplanes are going to Wilmington. This is similar to DHL telling us that we were doing a good job with on-time performance, then spreading the word to ABX Air that we had poor performance....

 

[ABXbooger]

This was the first time I have heard this side. I don't know what to believe. I don't think this was a mistake. With the reference to the "up to 40" planes that rules out the 26 planes that we were supposed to park. At this point I don't know how thats going to happen

Honestly, I don't think the poor performance rumors have come from DHL. Most of the ones I have heard are in reference to you guys taking flights and then we get them right back (except TPA), or from the outbase stations where we co-exist.

 

[hvydriver]

>Most of the ones I have heard are in reference to you guys taking flights and then we get them right back (except TPA), or from the outbase stations where we co-exist.<


ABXbooger,

The only problems I've seen is the difficulty the stations (former ABX) are having breaking down their C containers to reload into A containers. When they can't do it quickly enough, they swap the station back to ABXAir birds. Prime example is SLC. It's going to be interesting times when consolidation comes, that's for sure.

 

[ABXbooger]

As per the station guys in SLC, yes there where some C container issues, but they also said there where load planning issues and flights arriving late or not at all issues. They said it cost DHL a million dollars a day to have the 70 series 8 run it versus the 767. This is all from the station peoples mouths, not mine. I was there two weeks ago...

Also, in IAH we run an A-container plane. No need to break down C's and we have no through stations there.

As for the consolidation, If you guys are hauling as much freight as we are, there's going to be plenty of growth. We are running several extra flights EVERY night and the weekends too. I have seen analyst expectations of DHL capturing up to 18% of the market by end of 2006, they have 7% now, you do the math.

 

[Airbus300]

"As for the consolidation, If you guys are hauling as much freight as we are, there's going to be plenty of growth. We are running several extra flights EVERY night and the weekends too. I have seen analyst expectations of DHL capturing up to 18% of the market by end of 2006, they have 7% now, you do the math."


.....I agree..

 

[GoABX]

Hey Astar Guys,

If you are going to take our stations, stop taking the good ones, Houston New Orleans Nashville. Why don't you take out $hitholes like Lake Charles, Fargo, Moline El Paso and JFK.....no need to cherry pick us.

The difference in aircraft number may be due to Riverside. They have hinted to both sides that they would be getting the 10-12 runs. Someone saw a proposed schedule and said it would go very senior. Most of the trips were short, one leggers.

Heard 2 others last night. Astar would park the A300s and we would park all our Dc-8s except the cargo doors. At least more 9's are scheduled to be painted yellow this year.

Isn't this fun....it's just your job, your career, your familiy's well being, and your financial decisions being put on hold. It's either everybody upgrades in 5 years or everybody is furloughed in 5 months. Fun, Fun, Fun.

 

[Rhoid]

ABX guys, what's with DHL not needing your latest 767 in service for another 16 months? Why do they continue to prefer to operate the DC-8 instead of using that a/c? I heard that ABX is actively trying to charter out the new 767 until DHL needs it but so far is not having much luck getting customers.

P.S. Remember to check for those gear pins!!!!