-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q685oG1QgOnC3BRgkkz42Mf1p177C4Qa4Gq36+MYMjluSZw0nVm5mnA0grdOPOwL XCVW5oAnbhJBt2xVHtujXA== 0001181431-07-069841.txt : 20071116 0001181431-07-069841.hdr.sgml : 20071116 20071116091127 ACCESSION NUMBER: 0001181431-07-069841 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071116 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071116 DATE AS OF CHANGE: 20071116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ABX AIR INC CENTRAL INDEX KEY: 0000894081 STANDARD INDUSTRIAL CLASSIFICATION: AIR COURIER SERVICES [4513] IRS NUMBER: 911091619 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50368 FILM NUMBER: 071251544 BUSINESS ADDRESS: STREET 1: 145 HUNTER DRIVE CITY: WILIMINGTON STATE: OH ZIP: 45177 MAIL ADDRESS: STREET 1: 145 HUNTER DR CITY: WILMINGTON STATE: OH ZIP: 45177 8-K 1 rrd178942.htm Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  11/16/2007
 
ABX AIR, INC.
(Exact name of registrant as specified in its charter)
 
Commission File Number:  000-50368
 
DE
  
91-1091619
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
145 Hunter Drive, Wilmington, OH 45177
(Address of principal executive offices, including zip code)
 
(937) 382-5591
(Registrant’s telephone number, including area code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
Item 8.01.    Other Events
 
On November 16, 2007, ABX Air, Inc. ("ABX") issued a press release announcing that ABX and DHL had agreed to arbitrate a dispute concerning the allocation of certain overhead expenses, and that DHL had paid ABX for $8.8 million in budgeted expense reimbursements previously withheld.

A copy of the press release is attached hereto as Exhibit 99.

 
 
Item 9.01.    Financial Statements and Exhibits
 
(d) Exhibits.
   
Exhibit No.   Description
      99            Press Release issued by ABX Air, dated November 16, 2007.
 

 

Signature(s)
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
 
ABX AIR, INC.
 
 
Date: November 16, 2007
     
By:
 
/s/    W. Joseph Payne

               
W. Joseph Payne
               
Vice President, General Counsel & Secretary
 
 


 

Exhibit Index
 
Exhibit No.

  
Description

EX-99.
  
ABX Air, DHL Agree to Arbitration
EX-99. 2 rrd178942_22402.htm ABX AIR, DHL AGREE TO ARBITRATION ABX AIR, DHL AGREE TO ARBITRATION

ABX AIR, DHL AGREE TO ARBITRATION

$8.8 Million in Withheld Payments Restored

WILMINGTON, Ohio - November 16, 2007 - ABX Air, Inc., (NASDAQ: ABXA) said today that it and DHL have agreed to arbitrate a dispute concerning allocation of certain overhead expenses, and that DHL has paid ABX Air $8.8 million in budgeted expense reimbursements previously withheld.

Since the $8.8 million payment was withheld on November 5, 2007, ABX Air said that DHL has continued to reimburse it in full for budgeted expenses.

Joe Hete, president and CEO of ABX Air, said, "We welcome this action by DHL, along with their recent acknowledgement of the high-quality ACMI and sorting services we continue to provide to them as their principal U.S. service provider. It is a positive step, one that demonstrates that our mutual interest in DHL's success can be achieved only by working more closely together. We also appreciate that DHL has affirmed it will continue our relationship through the current terms of our commercial agreements, and its willingness to discuss a broad range of topics that could further benefit that relationship."

As further described in ABX Air's Form 8-K filed with the Securities and Exchange Commission on November 9, 2007, DHL is in default under terms of the ACMI and Hub Services agreements. The default resulted from an $8.8 million reduction in DHL's weekly pre-funding payment to ABX Air on November 5, 2007, for ABX Air's expenses related to the ACMI and Hub Services agreements. DHL cited as the reason for the reduction its contention that it was no longer responsible to reimburse ABX Air for certain overhead expenses. ABX Air notified DHL that it was in default under the commercial agreements because the agreements do not permit the withholding of amounts in dispute. ABX Air said that DHL remains in default under the ACMI and Hub Services agreements. DHL maintains that it has not defaulted and that its actions were proper.

Conference Call

ABX Air will host a conference call to review its financial results for the third quarter of 2007 today at 10:30 A.M. Eastern time. Participants should dial (866) 831-6224 and international participants should dial (617) 213-8853 ten minutes before the scheduled start of the call and ask for conference ID #47035810. The call will also be webcast live (listen-only mode) via www.abxair.com and www.earnings.com for individual investors and via www.streetevents.com for institutional investors. A replay of the conference call will be available an hour after the conclusion of the call. It will be available by phone for five days after the call at (888) 286-8010 (international callers (617) 801-6888); use pass code ID #77444120. The webcast replay will remain available via www.abxair.com and www.earnings.com for 30 days.

Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. ABX Air, Inc.'s actual results may differ materially from the results discussed in the forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, ABX Air's ability to maintain cost and service level performance under the commercial agreements with DHL, reductions in the scope of services under those agreements, uncertainty as to the ultimate outcome of ABX Air's disputes with DHL under the commercial agreements, uncertainty of the effects the disputes with DHL may have on ABX Air's financial liquidity and other factors that are contained from time to time in ABX Air's filings with the U.S. Securities and Exchange Commission, including ABX's Annual Report on Form 10 - -K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on the Company's forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ABX undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.

Contact: Quint Turner

ABX Air, Inc.

937-382-5591

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