ABX Air profits down a quarter
16 / 11 / 2009
AIR Transport Services, owner of cargo carrier ABX Air, has posted a drop of 25 per cent in profit for the third quarter ending 30 September. It fell from US$5 million in the same period last year to $3.7 million this year, with revenue down 27 per cent from $240 million to $174.2 million.The decline was expected, due in part to DHL – ABX’s primary customer – pulling out of the US domestic market. That resulted in massive job layoffs, especially at the old delivery hub at Wilmington, Ohio. ABX Air is still in negotiations with both former employees and DHL to secure more contracts and thus be able to pay the employees their severance pay.