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Air Cargo News.

Jul 30, 2007

Bill requires cargo screening for passenger airlines. Congressional negotiators have agreed on a compromise bill requiring commercial cargo to undergo security screening before being loaded on to passenger flights. Jul 27, 2007

ABX Air

ABX Air "unanimously rejected" Astar Air Cargo's proposal to acquire it for more than $450 million in cash. ABX and Astar are DHL's primary subservice carriers in the US and the latter late last month issued an "indication of interest" to purchase the former and merge their air operations, which both are based at DHL's Wilmington, Ohio, hub . In a letter to Astar Chairman, President and CEO John Dasburg, ABX President and CEO Joe Hete wrote that the board had examined Astar's proposal and "decided to reject your overture as it would not deliver adequate value to our stockholders relative to the value creation opportunity in the company's business plan." Jul 25, 2007

ABX Air

ABX Air announced that its Board of Directors has reviewed ASTAR Air Cargo Holdings, LLC's unsolicited indication of interest to acquire the Company and has unanimously rejected the proposal as not being in the best interest of ABX Air stockholders. Jul 23, 2007

ABX Air, Astar Air Cargo

Astar Air Cargo yesterday withdrew its "indication of interest" in acquiring fellow DHL subservice carrier ABX Air for more than $450 million in cash. The move came a day after ABX President and CEO Joe Hete informed Astar Chairman, President and CEO John Dasburg that the proposed acquisition had been "unanimously rejected" by ABX's board. Dasburg wrote yesterday in a brief letter to the ABX board that Astar's proposed offer of $7.75 per share represents "a full and fair price and is generous." Rather than increasing the offer, Astar's board "unanimously determined to pursue other alternatives and we are, therefore, withdrawing our indication of interest," he wrote. Both airlines' operations are based at DHL's primary US air hub in Wilmington, Ohio. Jul 26, 2007

Djibouti Airlines, Antonov

Djibouti Airlines An-26 crashed Monday near Shinile, Ethiopia, killing one passenger. There were 13 passengers and six crew onboard the cargo flight, which departed Dire Dawa, Ethiopia, and was on its way to Djibouti City, according to the Flight Safety Foundation's Aviation Safety Network. The aircraft reportedly suffered engine problems and was attempting an emergency landing when it crashed. Jul 25, 2007

FedEx

FedEx freight trucking operations, FedEx Freight and FedEx National LTL, announced a 25 percent cut in fuel surcharges Monday. Jul 23, 2007

Lufthansa

Lufthansa Cargo reported a 35.5% profit decline to [euro]40 million, Lufthansa Technik an 8.1% profit increase to [euro]134 million, Lufthansa Systems a 26.3% decrease to [euro]14 million and Catering a reversal to a [euro]36 million profit from a [euro]9 million loss in the year-ago semester. The Service and Financial Companies segment saw profit more than double to [euro]161 million. Jul 27, 2007

Royal Jordanian

Royal Jordanian is launching a weekly Amman-Damascus Boeing 737-200 freighter service. The aircraft will have a capacity of 14.5 tons. RJ said it is "also studying the possibility of opening new freighter routes to other points in the Levant." Jul 24, 2007

UPS

United Parcel Service reported second-quarter net income of $1.1 billion, slightly improved over net earnings of $1.06 billion in the year-ago quarter, citing gains in its air-driven international business including a 14% jump in international export revenue. "Strong gains in our international package segment offset a lack of growth in the US business," Chairman and CEO Mike Eskew said. Revenue increased 3.8% to $12.19 billion as operating profit lifted 4.1% to $1.77 billion. The parcel delivery giant said Asia export volume climbed 25%, "with particularly strong growth out of China." It said a "dynamic global marketplace" gives it confidence in "long-term growth prospects" despite a "challenging" US market. Jul 26, 2007

UPS

John Fain, a long-time executive of Overnite Transportation who continued his responsibilities after United Parcel Service acquired that company, now is taking on global responsibilities for marketing and sales for UPS Freight. Jul 26, 2007

UPS

UPS Unveils New Online Service to Simplify Tracking, Billing Package-delivery company United Parcel Service Inc. said Wednesday it started a service called Express Critical that aims to simplify shipping for commercial customers. Jul 25, 2007

ZZ

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Date:Jul 30, 2007
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