ASTAR Air Cargo Sets Deadline for ABX Air

[rotor&wing]

ASTAR Air Cargo Sets Deadline for ABX Air, Inc. Response

MIAMI--(BUSINESS WIRE)--John Dasburg, the Chairman, President and Chief Executive Officer of ASTAR Air Cargo Holdings, LLC sent the following letter dated July 16, 2007 to the board of directors of ABX Air, Inc. (NASDAQ:ABXA):
July 16, 2007
The Board of Directors of ABX Air, Inc.
c/o W. Joseph Payne, Secretary
145 Hunter Drive
Wilmington, Ohio 45177
Gentlemen:
As you know, I have had general discussions with your chief executive officer, Joe Hete, since December 2006 about the possibility that ASTAR might acquire your company. As you also know, Mr. Hete cancelled a previously scheduled meeting with me in June 2007 to discuss our interest. On June 26, 2007, I then sent a letter to you to indicate ASTAR's interest in acquiring all the shares of ABX at a price of $7.75, subject to certain conditions.
To date, neither I nor any ASTAR board member, executive, or adviser has received any response from you, ABX's management, or any advisers acting on behalf of ABX. I therefore wish to inform you that ASTAR will withdraw the indication of interest described in my letter of June 26 unless we receive a meaningful response from ABX or its advisers by the close of business on Wednesday, July 18.
Very truly yours,
John H. Dasburg

 

[inplaneview]

Good! I hope Joe ignores him. I fail to see how this merger is in our (ABX pilots') best interest.

 

[HeavyjetDC8]

A merger is the best option for both pilot groups - an airline in effect controlled by DHL efficiently flying DHL freight. Without it Astar will soldier on and ABX will pursue ever more asinine adventures in Asia.

 

[shooter]

A merger is the best option for both pilot groups - an airline in effect controlled by DHL efficiently flying DHL freight. Without it Astar will soldier on and ABX will pursue ever more asinine adventures in Asia.

no it's not. It's only the best option for the Astar group and the senior ABX group. I thought it was a Brotherhood at ABX, not eat the young.

 

[fodc8]

I'm curious other than a merger between Astar and ABX. Where do the ABX guys think there headed? Asia? USA other than DHL? Where?? Dasburg's plan included ABX and all of it's employees. You may not like it but it creates a powerhouse at the barginning table and security for all of the pilots on both sides. Dasburg's plan to take over all of the flying in the US for DHL is moving forward. DHL has firmed up their support by buying 49% of the Airline. I will be very disappointed if Hete doesn't come to the table. Dasburg and DHL will pick ABX apart in the US over the remaining few years of the ABX ACMI and there no telling what they will try to do to replace ABX. This will not benefit either of our groups. I'm sure the Asia stuff is good but do all of you guys want to move there?

 

[abxdx]

Dasburg's plan included ABX and all of it's employees.





What dreamworld are you living in. Do you really think that Astar would keep all th pilots and operations people. The firstr thing they do will be to trim away all the fat, and I would make a bit there will be alot more trimmed from ABX then Astar...

 

[fodc8]

Well I'm sure Hete's plan is much better.

 

[shooter]

I'm curious other than a merger between Astar and ABX. Where do the ABX guys think there headed? Asia? USA other than DHL? Where?? Dasburg's plan included ABX and all of it's employees. You may not like it but it creates a powerhouse at the barginning table and security for all of the pilots on both sides. Dasburg's plan to take over all of the flying in the US for DHL is moving forward. DHL has firmed up their support by buying 49% of the Airline. I will be very disappointed if Hete doesn't come to the table. Dasburg and DHL will pick ABX apart in the US over the remaining few years of the ABX ACMI and there no telling what they will try to do to replace ABX. This will not benefit either of our groups. I'm sure the Asia stuff is good but do all of you guys want to move there?

I hope ABX continues to have DHL work, is where I think the best place for ABX to be headed. Along with finding other ACMI work like we currently fly for many other carriers. Dasburg and DHL have a plan? Please! DHL could not do it before, what makes you think they can do it now? They had to buy #3 in order to become #3 and they have squandered most of that business away. I do NOT want to see them squander away one great workforce that ABX has. And if you think half of the current ABX workers will be employed 2 years after this thing goes through, you are dreaming or tickling our butts with smoke. If ASTAR and DHL want to build an airline then go do it like ABX has. By buying out ABX you are just putting ABX employees out on the street because your management and DHL has a proven track record of destroying everything they touch in the US and ABX workers will be the fall guys for their ineptitude.

Sure, you would be disappointed if Hete does not come to the table. Because you know your group is not capable of getting a more modern fleet, or the capabilities ABX already has built. You just want your DHL cash to buy what your management could not get on their own. It’s your best shot. But don’t worry; Hete looks out for the stock holders so it will probably go through once the offer becomes realistic (I should say when there even is formal offer). I believe ABX to remain a stand alone company is best for ABX workers and hopefully DHL will part of that work. Let’s turn the tables, let’s get ABX to but out ASTAR. How do your junior guys feel about that? Knowing the 767 is the current aircraft of choice and last I looked, ASTAR has nothing modern on the field. Yeah, I can see why you want this to go through, at the cost of ABX guys not being able to upgrade or the ones to be put out on the street.

So let’s see, the ABX ACMI expires in 2010. Do you think ASTAR can get a fleet to replace ABX in that time? I bet NO. The Japan issue is a sore spot that has nothing to do ASTAR and DHL, yet. Let’s not muddy the water with that until we have to.

 

[fodc8]

You know at no point did I attack you or your group. It does seem that you could care less about anyone but yourself. I hope all ABX pilots don't feel that way. I do understand your desperation and I'm sorry you feel the way you do. I would suggest a therapist who can help you with your anger and hate issues.

 

[flyinboxes]

Hete's press release tomorrow better have some meat to it or the stockholders are going to run. I don't know where this headed more than anyone else, but it is far from over. You don't just "not respond" to 475 million in cash.