DHL audit of ABX
DHL north america with in ILN all last week auditing the books of ABX. One of the results of the audit is that even with the just announced furlough of more pilots, DHL says that ABX if overstaffed with pilots and must reduce their number to control costs. ABX operates on a cost plus contract with DHL and DHL says that ABX's costs are too high and must lower them. Look for more furloughs in the near future as the remaining DC-8s are retired.