SEATTLE -- December 9, 1998
Airborne Freight Corporation, which operates under the trade name Airborne Express, announced today it has entered into an agreement to acquire 11 additional used Boeing 767-200 aircraft. This now makes 23 Boeing 767 aircraft that the company has committed to purchase. To date, six have been acquired, and by year end three of those six will be in service.

Airborne studied a variety of wide body aircraft for over a year prior to its initial Boeing 767 purchase in 1995. The company chose the 767 as the new workhorse of the Airborne fleet, which also consists of DC-8 and DC-9 aircraft, as it provides a 31 percent increase in cargo carrying capability, without requiring significant changes at Airborne’s hub in Wilmington, Ohio. The 767 also operates at a cost that is 14 percent less than the DC-8 and other popular cargo jets. The newer generation aircraft will further Airborne’s commitment to providing the best value and service in the air express industry by decreasing operating costs while keeping capital requirements relatively unchanged.

"The company is very pleased with this latest acquisition," said Joe Hete, Chief Operating Officer for ABX Air Inc., Airborne’s subsidiary airline. "As Airborne continues to grow, the ability to increase lift capacity is key to keeping service levels high and customer satisfaction maximized." The current delivery schedule for the aircraft is two planes in 2000, four in 2001, three in 2002, and two in 2003. Six of the 11 aircraft will be purchased from Japan’s Itochu Corporation.

The remaining five will be purchased from Marubeni Corporation. All 11 of the aircraft are currently being leased to All Nippon Airways Co., Ltd. The conversion of the aircraft from passenger to cargo configurations will be completed by Triad International Maintenance Corporation (TIMCO). Airborne will invest approximately 25 million per plane including the conversion cost.

For more than 50 years, Airborne Express has served the shipping needs of business customers around the world. Today, Airborne offers total distribution solutions by providing time-sensitive delivery of documents, letters, small packages, and freight to virtually every U.S. ZIP code and more than 200 countries. Customers can select from a variety of services including same-day, next-morning, next-afternoon or second-day delivery, air freight, ocean service, and logistics management.