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Wed, Dec 07, 2005

Court Approves ABX Purchase Of 11 762s From Delta

ABX Air announced Monday a US bankruptcy court had approved the company's purchase of eleven Boeing 767-200 passenger aircraft from Delta Air Lines.

The Wilmington, OH-based cargo outfit announced in early September that it had entered into an agreement with Delta for the purchase of the 11 aircraft, shortly before Delta filed for Chapter 11 bankruptcy protection on September 14. Delta thereafter filed a motion with the U.S. Bankruptcy Court for the Southern District of New York requesting the approval of the sale of the aircraft, subject to higher bids at an auction. No bids were received.

On November 29, Judge Prudence Carter Beatty signed an order approving the sale of the 11 aircraft in accordance with the agreement.

ABX Air became an independent public company in 2003, as a result of the separation from its former parent company, Airborne, Inc., which was acquired by DHL Worldwide Express B.V. The company currently operates 111 aircraft.

FMI: www.abxair.com

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