More ABX Furloughs?
 

Any truth to the rumor of additional furloughs at ABX?:mad:
Any truth to the rumor of large mid level management cuts?:cool:
What the heck is going on with DHL/ABX/Astar?!:confused:

Driver

There is truth to the furlough rumor... I heard 10 DC-9 F/O's. Many pink slips handed out to managers as well. First quarter profits down 47%. "ABX Holdings" was just formed by Joe Hete.

Down 47% ???? WOW

Thats nice, talked to HR about a month ago and they were thinking of hiring again in the next 6 months or so. ?????

Mgmt is claiming the furloughs are cost-savings generated. 155 positions being axed. Of those there are only 55 people losing their jobs, the other positions are open now. 10 pilots axed.

Are you sure about the 47%, that sounds a little high. ACMI biz is going to be seriously picking up. Each new 767 (5 acmi 767 now, 12 by the end of the year) add .03 cents per share to revenue.

pilotjones, I have heard other people have had the same experience. This furlough could be a mgmt tactic to try and strong arm-from what I am hearing it is going to come back and kick them hard...

Any word on the ABX negotiations? I understand that mgmnt is over a barrel and will capitulate to get pilots to agree to terms for thr ANA flying.

8DRIVER

Rollndadice states..."Are you sure about the 47%, that sounds a little high. ACMI biz is going to be seriously picking up. Each new 767 (5 acmi 767 now, 12 by the end of the year) add .03 cents per share to revenue."

Highroller...

Can you clear up the "5 acmi 767 now, 12 by the end of the year"?

Isnt every 767 at ABX an acmi airplane?

http://www.bizjournals.com/columbus/...tml?from_rss=1

"ABX said Wednesday it's first-quarter profit plummeted 47.3 percent to $4.3 million, or 7 cents a share, compared with $8.1 million, or 14 cents a share, a year earlier."

I'll speculate on rollndadice' comment: ABX has 4-5 767's on non-DHL flying now. The remaining 767's that ABX has on order are available to DHL, but not at current ACMI rates. So ABX is planning to put those aircraft into non-DHL service. That would be a total of 12 767's on non-DHL ACMI and 30-31 on DHL ACMI by the end of 2008 with current planned deliveries.

Thanks Speed...

I was a little confused by the use of "acmi"...

Latest rumor just heard today is that Joe Hete is going to take 10-12 airplanes over to Asia and operate as "ABX holdings", either DHL or Astar is to purchase the balance of the operation...

Keep in mind this is total rumor... supposedly there is some sort of deadline in the 3rd week of June.

Our union guys have mentioned some sort of "large transaction" is slated to take place around the end of June... No one seems to know good or bad or much else.