Aircraft lease talks continue between DHL and ABX

DHL and ABX Air are continuing to thrash out the details of a deal that would require DHL to assume financial responsibility for leasing five Boeing 767-200 freighters that ABX would operate.

Wilmington-based ABX has been operating the aircraft on behalf of DHL under an existing agreement that expires in August 2010. The new arrangement would also give DHL an option to lease four additional 767s, reports the Business First of Columbus, Ohio.

According to a recent filing with the Securities and Exchange Commission, the parties have further extended the talks until May 15.

"DHL and ABX are continuing to work through the transaction documentation," a statement was cited as saying.

ABX Air provides air cargo and package sorting services for DHL at the Wilmington Air Park. DHL recently announced that it will shift its US air cargo hub back to a smaller facility at the Cincinnati/Northern Kentucky International Airport later this year.

This follows a decision made last year to scale down the company's US domestic package delivery operations that have been losing billions of dollars annually. DHL will instead focus on international shipments into and out of the US.

Source: Schednet