Investor Meetings

May 2006

NASDAQ: ABXA

®

Exhibit 99

Safe Harbor Statement

Except for historical information contained herein, the matters discussed in this

presentation 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. A number of important factors 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, reductions in the

scope of services under the commercial agreements with DHL, maintaining cost and

service level performance, the ability to generate revenues from

sources other than

DHL 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

Air's

Annual

Report

on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully

review this presentation 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 presentation. ABX Air

undertakes no obligation to update any forward-looking statements to reflect

changes in underlying assumptions or factors, new information, future events or

other changes.

2

2. Recent Results –

2005 & 1Q 2006

8-14

3. 2006 Focus: DHL & ABX

15-21

4. Summary

22

1. Overview

4-7

Agenda

3

What is ABX Air

•

U.S. certificated part 121 air carrier

•

25-year operating history

•

10,000+ employees in over 100 locations

•

Major domestic and international ACMI

operator

•

Extensive aircraft maintenance &

engineering capabilities

•

Experienced management team

•

DHL’s primary U.S. service provider

Overview

4

Overview

•

Joe Hete –

President & CEO

–

Joined ABX Air in 1980. VP & SVP Administration 1986-97, SVP &

COO 1997-2000, President  since Jan. 2000, CEO since Aug. 2003

•

Dennis Manibusan

–

Sr. VP Maint. & Engineering

–

Joined ABX Air in 1993. Succession of executive positions at Alaska

Airlines, Continental & Ozark before joining ABX.

•

Bob Morgenfeld

–

Sr. VP Flight Operations

–

Joined ABX Air in 1985. Held various Operations/Chief Pilot positions

1985-92. VP-Flight Operations, 2002-04.

•

Tom Poynter

–

Sr. VP Ground Operations

–

Joined ABX in 1985. Various ground operations positions 1987-93.

Became Sr.VP-Ground in 1993.

•

Quint Turner –

CFO

–

Joined ABX Air in 1988. Directed Fin. Planning & Accounting, 1997-

2002, VP-Admin. 2002-04, CFO since Dec. 04.

Management -

Deep Operating Expertise

5

Pre-Separation

Shareholders

Shareholders

Post-Separation

DHL Holdings

DHL Holdings

(USA), Inc.

(USA), Inc.

Airborne, Inc.

Airborne, Inc.

ACMI Agreement

ACMI Agreement

Hub Services Agreement

Hub Services Agreement

Airborne, Inc.

Airborne, Inc.

ABX Air, Inc.

ABX Air, Inc.

Shareholders

Shareholders

Overview

August 2003

6

Overview

ACMI Agreement

Hub Services Agreement

•

Term: thru Aug. 2010, 3 yr.

renewal option

•

Services: Air transport on

designated routes & schedules

using ABX-owned aircraft

•

Markups on expenses:

•

Base 1.75% (excludes fuel)

•

Incremental opportunities

•

0.54% quarterly cost

•

0.25% annual service

•

0.81% annual cost

•

Term: thru Aug. 2007, rolling   

1 yr. renewal options

•

Services: Package handling,

sorting, warehousing, facilities

& equipment maintenance

•

Markups on expenses:

•

Base 1.75%

•

Incremental opportunities

•

0.54% quarterly cost

•

0.75% annual service

•

0.81% annual cost

Agreements With DHL

7

DHL Fleet Rationalization

2005 in Review

Proposed changes

•

26 aircraft (net 22 flights)

•

Approx. 20% of existing

capacity

Actual changes

•

7 aircraft removed from

contract as of 3/31/06

•

No notification of future

changes

8

$1.2

Billion

2004

2005

Revenues

In billions

$1.46

Billion

$37.0

Million

$30.3

Million

Earnings

In millions

2004

2005

2005 in Review

9

$30.2M

Earnings from DHL Agreements

DHL Totals

In Millions

$21.3M

$14.74M

Hub Services

In Millions

$6.26M

$15.46M

ACMI

In Millions

$15.06M

2004

2005

2004

2005

2004

2005

2005 in Review

10

$26.7M

Non-DHL Revenues & Earnings

Revenues

In Millions

$34.0M

Includes charters

and other non-

DHL business

$6.8M

Earnings

In Millions

$6.6M

Percentage of

total earnings:

•

18% in 2004

•

22% in 2005

2005 in Review

2004

2005

2004

2005

Charter

$16.7M

Charter

$13.9M

Other

$10.0M

Other

$20.2M

Charter

$2.5M

Charter

$1.1M

Other

$4.3M

Other

$5.5M

11

1Q Results from DHL Agreements

DHL Revenues

In Millions

Hub Earnings

In Millions

ACMI Earnings

In Millions

$360.8M

2006

$340.2M

2005

$2.84M

2006

$2.67M

2005

$2.41M

2006

$2.43M

2005

2006 Financials

12

$6.42M

1Q Non-DHL Results

Revenues

In Millions

$8.35M

$1.6M

Earnings

In Millions

$1.7M

Charter % of total

non-DHL:

Revenues

34% in 2005

46% in 2006

Earnings

8% in 2005

14% in 2006

2006 Financials

2005

2006

Other

$4.26M

Other

$4.50M

Charter

$2.16M

Charter

$3.85M

2006

Other

$1.5M

Charter

$0.2M

Charter

$0.1M

2005

Other

$1.5M

13

1Q Mark-up Attainment

ACMI

Hub Services

1Q05

1Q06

1Q05

1Q06

Actual

Potential

2006 Financials

0.47

%

0.54

%

0.54

%

0.54

%

0.54

%

0.54

%

0.54

%

0.6%

14

1Q Mark-up Attainment

(Incremental Cost-Related)

ACMI

Of 0.54% Maximum

Hub Services

Of 0.54% Maximum

2006 Financials

87%

100%

100%

11%

1Q05

1Q06

1Q05

1Q06

15

Service Quality Performance

80%

85%

90%

95%

100%

Mar-05

Apr-05

May-05

Jun-05

Jul-05

Aug-05

Sep-05

Oct-05

Nov-05

Dec-05

Jan-06

Feb-06

Mar-06

Target

Actual

2006 Focus: DHL

16

Jan.

Feb.

March

April

FTE/Hour Down 16%,

Jan-April 2006

Productivity Gains –

Hub Services

2006 Focus: DHL

6,639

6,154

5,578

5,536

17

Incremental Opportunities

Modifications to Hub and ACMI agreements

opportunity:

2006 Focus: DHL

•

$3 million ACMI ‘super’

bonus for cost reductions.

•

$2 million Hub Services ‘super’

bonus for cost

reductions and quality service.

•

Performance incentives for Hub Services

improvements.

•

Modify Note to permit ABX Air share repurchase.

18

Additional Boeing 767 Freighters

•

2006 Plan

–

2

nd

Q –

2

–

3

rd

Q –

1

–

4

th

Q –

2

Total of 5

•

2007 Plan

–

5 more

•

2008 Plan

–

2 more

•

Makes ABX world’s largest

operator of  767-200s with

41.

2006 Focus: ABX

19

Competitive Strengths: Boeing 767-200SF

3,000

109,000 / 10,060

3

1,600

DC-8 70

2,600

96,300 / 10,060

3

1,760

DC-8 60

1,680

99,200 / 11,445

3

1,900

A300-B4

2,700

100,000 / 11,138

2

1,380

767-200SF

Range

Payload/

Cubic Capacity

Crew

Fuel gal./

block hr

Aircraft

2006 Focus: ABX

20

Non-DHL ACMI Profit Potential

$70K –

$100K

~$380K

$550-$650K

Margin

Operating

Cost

Revenue

767 Hypothetical Example

Per Plane, Per Month

Investment

Cost

$100K-170K

2006 Focus: ABX

21

Other Diversification & Growth Potential

•

Sorting & logistics

–

U.S. Postal Service opportunities

•

Airframe maintenance checks

•

Line maintenance support

•

Component repairs

•

Flat panel upgrades

2006 Focus: ABX

22

Why Invest in ABX Air

•

Strong, predictable cash flow

•

Strong balance sheet, minimal debt risk

•

Minimal fuel-cost exposure

•

Incentives to control DHL costs and quality

•

Minimal overhead for growth businesses

•

Multiple high-margin growth opportunities

Summary

23