Rats off a sinking ship?

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E170Guppykiller

Latest rumor around the Admin building at ABX Air is the President of ABX, Joe Hete is leaving for a post at Hooters Air. With the parking of 13+/- DC-9's and 6+/- DC-8's this weekend, this could be the begining of the end of ABX as a DHL contractor. Look for Astar to increase it's share of the flying as time goes by. Heard this from a senior DC-8 captain recently.
 

rotor&wing

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rhoid, you're chatting between your numerous screen names! too much buddy!

what next??
 

B767Inst

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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.

Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. ABX Air's actual results may differ materially from the results discussed in the forward-looking statements. There are a number of important factors that could cause ABX Air's actual results to differ materially from those indicated by such forward-looking statements. These factors include but are not limited to its ability to generate revenues from sources other than DHL and other factors that are contained from time to time in ABX Air's filings with the U.S. Securities and Exchange Commission, including ABX Air's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on ABX Air's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ABX Air undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.
 

jettypeguy

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E170Guppykiller said:
Latest rumor around the Admin building at ABX Air is the President of ABX, Joe Hete is leaving for a post at Hooters Air. With the parking of 13+/- DC-9's and 6+/- DC-8's this weekend, this could be the begining of the end of ABX as a DHL contractor. Look for Astar to increase it's share of the flying as time goes by. Heard this from a senior DC-8 captain recently.

It's been no secret for awhile that ABX is going to park some planes this weekend. Below is a cut and paste from their 2Q press release:

"As previously reported by the Company, DHL intends to reduce the number of aircraft that ABX Air operates on it's behalf by the end of 2005, at which time DHL will have completed the consolidation at the main sort hub in Wilmington, Ohio."
 

UM#1

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Supposedly ABX is supposed to park those planes on our soon-to-be-old DHL ramp in CVG, I guess we'll have to wait till Saturday to find out. I can tell you that there won't be much ramp space left in ILN after the big move, it's a busy, packed place up there already!
 
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