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ABX Air, DHL Amend ACMI and Hub Services Agreements.

Publication: Business Wire
Publication Date: 10-NOV-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Assessment of Today's DHL's Restructuring Announcement Will Delay ATSG's 10-Q Filing

WILMINGTON, Ohio -- Air Transport Services Group, Inc., (NASDAQ: ATSG) today reported that its wholly-owned subsidiary ABX Air had signed amendments to its principal commercial agreements with DHL Express to set fixed-dollar mark-up payments for the fourth quarter of 2008 and first quarter of 2009.

ATSG President and CEO Joe Hete also expressed disappointment regarding an announcement earlier today by DHL's parent company, Deutsche Post World Net, about the reduction in U.S. operations of its DHL Express business, and noted that ATSG's assessment of impact of those changes will cause a delay in filing its third-quarter 2008 financial results and Form 10-Q with the Securities and Exchange Commission.

Amendments to Commercial Agreements

The amendments modify ABX Air's current ACMI and Hub Services agreements with DHL to set mark-ups at levels comparable to those ABX Air earned in the same prior-year quarters. Additionally, DHL agreed not to contest ABX Air's claim for reimbursement of $2.2 million in legal and other costs for arbitration of certain overhead allocation issues. DHL will continue to reimburse ABX Air for all eligible costs it incurs on DHL's behalf. The agreements call for...

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