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Article: ABX Air Announces Amendment of Hub and Line-Haul Services Agreement with DHL.
- Article from:
- Business Wire
- Article date:
- August 9, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WILMINGTON, Ohio -- ABX Air, Inc. (NASDAQ:ABXA) reported today that it has agreed to amend its Hub and Line-Haul Services Agreement ("the Hub Services Agreement") to extend the initial term of the Hub Services Agreement in exchange for temporarily placing more of its revenue potential under a cost-related incentive. The Hub Services Agreement was amended as summarized below:
--The initial term of the Hub Services Agreement was extended for one year such that it will not be subject to annual renewals until August 15, 2007.
--During the last six months of 2005, the base mark-up under the Hub Services Agreement will be reduced from 1.75% to 1.25%. In 2006, ...