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ABX Air (NASDAQ:ABXA) reported today that it entered into an ACMI
Agreement to operate two 767-200 aircraft for All Nippon Airways Co.
(ANA). The two-year agreement, with an option for annual renewals,
begins May 15, 2007. It will support ANA's cargo operations throughout
the Asian market including Japan, China and Thailand. ABX Air had
announced on February 8 that it was in discussions with ANA.
This watershed agreement marks the first time the Japanese Civil
Aviation Bureau (JCAB) has approved a foreign carrier to conduct cargo
aircraft operations on behalf of a Japanese airline.
Revenue from this ACMI Agreement is expected to be approximately
$22 million on an annualized basis for the two aircraft.
"We are honored to have been granted this authority and are
excited at the prospect of entering the Asian market," President and
CEO Joe Hete said. "The Asian economy is the fastest growing market in
the world, and this agreement underscores ABX's commitment to grow its
presence as an international provider of aircraft and aircraft-related
services."
ABX Air is a cargo airline that operates out of Wilmington, Ohio,
and 17 hubs throughout the United States. In addition to providing
airlift capacity and sort facility staffing to DHL, ABX Air provides
charter, maintenance and package handling services to a diverse group
of customers. ABX 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, Inc.'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
the company's actual results to differ materially from those indicated
by such forward-looking statements. These factors include, but are not
limited to ABX Air's ability to meet its obligations under the ACMI
Agreement with ANA, and other factors that are contained from time to
time in ABX Air's filings with the U.S. Securities and Exchange
Commission, including the company'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 the company'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.
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