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Arbitrators also ruled that ABX Air started to earn more than 10% of its total revenues from customers other than DHL with effect from 1 January 2008.
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.
The investigation opened in 2003 concerned the legality of a euro 140 million bridging loan granted by SNCB and the conversion into capital of ABX debts amounting to euro 91.
One, ABX manufactures a full line of hematology instruments.
ABX Air will provide interim 767 freighter aircraft under similar economic terms as required by DHL until such time as all freighter door modifications are completed.
ABX said Cargo Holdings (CHI) is a provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements.
Other financial fluctuations are also being looked at, including the SNCB/NMBS acquisition of the ABX Logistics world network of more than 100 subsidiaries.
This new CBA is contingent upon the signing of a new commercial agreement between ABX Air and DHL that provides for DHL's continued use of ABX Air aircraft and flight crews in its U.
ABX also said no formal offer has so far been made.
This reduction is a result of DHL reducing 23 ABX Air DC-9 aircraft this year.
ABX Air is a cargo airline that operates out of Wilmington, Ohio, United States and 17 other hubs throughout the United States.
NASDAQ:ATSG) said today that arbitrators have ruled that its subsidiary, ABX Air, was entitled to full reimbursement of its general overhead expense from its principal customer DHL during 2007.
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- Abyei Community Action for Development
- Abyei Recovery and Rehabilitation Project
- Abylkhan Kasteev