UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 5, 2005 ABX AIR, INC. (Exact name of registrant as specified in its charter) DE 0-50368 91-1091619 (State or other jurisdiction of incorporation) (Commission File No.) 145 Hunter Drive, Wilmington, OH 45177 (Address of principal executive offices) (Zip Code) Registrant s telephone number, including area code: (937) 382-5591 Not Applicable (Former name or former address, if changed since last report) (IRS Employer I.D. No.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition. Joe Hete, the President and Chief Executive Officer of ABX Air, will give a presentation at the Company s Annual Stockholders Meeting on May 5, 2005, at which he will review the Company s financial results for 2004 and the first quarter of 2005. A copy of the presentation is enclosed herewith as Exhibit 99.1. Item. 7.01 Regulation FD Disclosure. On May 5, 2005, ABX Air, Inc. issued a press release announcing that it has been approved to list its common shares on the NASDAQ National Market and will commence trading under the new listing at the open of the market on Monday, May 9, 2005, under the ticker symbol ABXA. ABX Air s common shares have been quoted on the Over-the-Counter Bulletin Board market since it became an independent publicly traded company in August 2003. A copy of the press release is enclosed herewith as Exhibit 99.2. Item 9.01 Financial Statements and Exhibits. (c) Exhibits Exhibit No. Description 99.1 Presentation to be given by Joe Hete, the President and Chief Executive Officer of ABX Air, Inc., at the Company s Annual Stockholders Meeting on May 5, 2005. 99.2 Press Release issued by ABX Air, Inc. on May 5, 2005.
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: May 5, 2005 ABX AIR, INC. By: /s/ W. Joseph Payne W. Joseph Payne Vice President General Counsel & Secretary
Exhibit Shareholder 99 1 Meeting May 5 2005 Exhibit 99.1
Then 1980 52 aircraft 11 types 550 employees 161 000 pounds/day 195 000 pound lift capacity 94 000 gallons of fuel/night
Now 2005 114 aircraft in service 3 types 8 000+ employees 10 437 000 pounds/day 4 028 000 pound lift capacity 574 500 gallons of fuel/night
Airborne/Midwest Started C The Built Added 2000 Separated DHL 114 Historical Container aircraft 1980s 1990s three & asboeing two another flying beyond primary new from first more sort Snapshot Patented 3DC 767 hangar Airborne buildings types sort customer 8s Charter 9 buildings (April (Dec in service Merger 1980) 1986) 100th aircraft in service Second Runway
The =1 000 ABX employees Numbers=100 000 pieces =10 aircraft
2004 Hub Consolidation Milestones Fleet Rationalization Seven new Hubs Impact on Linehaul 767 Special Freighter Non DHL Business
Hub DHL Construction Consolidation announced progress Wilmington as consolidated Hub location in June 2004 Targeted Completion 3rd Q 2005 2nd Largest International Gateway in U S
FThe Building changing face of where we do business
Wilmington Building F
ERamp The changing face of where we do business
Wilmington (previously 4/9/05 employee Ramp Eparking)
ARamp The changing face of where we do business
Wilmington Building Ramp Bldg 11 A (existing) (extension) F Ramp A / Bldg 11 / Bldg F
DRamp The changing face of where we do business
Wilmington New Extension Parking Ramp D (extension) New Parking
2004 Hub Consolidation Milestones Fleet Rationalization Seven new Hubs Impact on Linehaul 767 Special Freighter Non DHL Business
Fleet Planned Impact Rationalization when changes fully26 implemented aircraft (net Revenue 22 flights) Impact Approx of $86 20% 96m of existing Earnings capacity Impact $0 8 15mCashFlow$3542m
2004 Hub Consolidation Milestones Fleet Rationalization Seven new Hubs Impact on Linehaul 767 Special Freighter Non DHL Business
Regional Seven newhub hubs Expansion added throughout the U S Managed by ABX New total 18 regional hubs
Regional Hub coverage pre 2004
Regional Hub coverage NOW
2004 Hub Consolidation Milestones Fleet Rationalization Seven new Hubs Impact on Linehaul 767 Special Freighter Non DHL Business
Impact 2003 2004 Total lanes on Linehaul (trips) 420 524 075 409 24 8% increase
2004 Hub Consolidation Milestones Fleet Rationalization Seven new Hubs Impact on Linehaul 767 Special Freighter Non DHL Business
First 767 everfreighter Passengerin toservice Special Freighter Modification Completed by IAI Currently have three 767 Special Freighters Higher degree of utility Increased cube capacity
2004 Hub Consolidation Milestones Fleet Rationalization Seven new Hubs Impact on Linehaul 767 Special Freighter Non DHL Business
Non ACMI SpaceDHL available Services Business Services Aircraft Maintenance and Technical Services Flight Training Sort Services Resale Spare Parts www abxair com
ABX Indianapolis and thehasp USPS(Hub and Spoke) Christmas Network Space available
The 2004 HubFinancials 1st Year Q Service end Results Results Incremental ABX Stock Mark Performance up 101 ACMI & Hub 2004 Results Non DHL Revenue Overview 2005 1st Quarter Results ACMI & Hub 1st Q Cost Results ACMI &
Year DHL Achieved Revenues ACMI Base QTR YR Total Expenses Earnings Incremental end $1 $475 Non Revenues Hub 161 $30 $15 2004 467 87 1for DHL 826 19 Reimbursable 175 14 363 1% achieving 203 460 642 935 $440 441 483 804 Total 4Financial of $26 $6 $14 2967 433 1the 309 102 165 26 602 770 14 705 743 5024 maximum 705 annual 1441 910 447 536 $244 $36 $1 255 Results 1188 767 973 202 cost 935 068 244 incremental 509 (000 s) and 935 servicemarkup relatednon goalsdhl are measured Earnings increased and reconciled $4 1 million at the end over of2003 each year (more than double)
Incremental Status 17510175 $175 18410684 $184 166 BASE ABX $294128 $10 $9 Revenue Costs Profit Quo Cut 10 500 Cost Increase 684 Mark $9$10 500 500 up 000 Costs 101 $105% 000 Reduce Costs 5%
2004 Jan ACMI Potential %140120100080060040020000 Hub 135 25 90 75 1Dec ACMI 35 2004 Cost & Markup Hub Mark Earned up Potential Cost Markup vs Earned Potential Service Markup Earned Service Markup
30 25 15 2003 Other Aircraft Non 000 DHL 2004 10 Tech 000 Revenues ACMI & 5 Parts 000 0USPS Full Year C NET (000 s)
1st DHL Revenues Achieved Q1 ACMI Base Incremental Total Expenses Earnings Quarter does $339 $122 Other Revenues Hub NOT $2 $5 335 120 46 340 533 698 2005 Total Reimbursable 641 561 671 105 5% 069 588 include 174 $6 $136 123 80 $2 of 641 4204 134 6Financial the 434 978 259 442 420 880 markup $345 526 maximum 136 339 346 $79 083 953 Results 960 511 594 955 for79 performance incremental 955 (000 s) markup against Non service DHL or annual Earnings cost increased targets $0 7 million over 2004 Q1 (up 55 6%)
2005 1st ACMI Potential %140120100080060040020000 Hub 54 06 Quarter 47 ACMI Cost 2005 & Markup Hub Mark Earned up Potential Cost Markup vs Earned
2005 1st ACMI Potential %140120100080060040020000 Hub 25 75 28 Quarter 10 ACMI Service 2005 & Hub Markup Year up Annual to date Service Results
Non 71Q Other Aircraft 000 2004 DHL 6 000 Tech 1QRevenues 52005 & 000 Parts 4 000 Non 1st 3Quarter 000 DHL2 ACMI 000 (000 s) 1 0
ABX Market Stock $88 Aug$145 16 Stock Closing Cap 2003 $251 Performance Price Sept $millions $370 30 $398 2003 $379 Dec $518 31 $422 2003$450 March 31 2004 June 30 2004 Sept 30 2004 Dec 31 2004 March 31 2005 May 3 2005
www abxair com
Exhibit 99.2 ABX Air Approved for Listing on NASDAQ National Market WILMINGTON, OH May 5, 2005 - ABX Air (OTCBB:ABXA) today announced that it has been approved to list its common shares on the NASDAQ National Market and will commence trading under the new listing at the open of the market, Monday, May 9, 2005 under the ticker symbol ABXA. The company announced that it had applied for listing on the NASDAQ National Market on April 6, 2005. ABX Air s common shares have been quoted on the Over-the-Counter Bulletin Board market since it became an independent publicly traded company in August 2003. James H. Carey, Chairman of the Board of ABX Air, said, We are pleased that NASDAQ has approved our listing. This is an important milestone for our company and its shareholders in that we believe the NASDAQ listing will increase our liquidity and allow many institutions to invest in ABX Air who typically do not or cannot invest in over-the -counter securities. ABX Air, Inc. is a cargo airline with a fleet of 114 in-service aircraft that operates out of Wilmington, Ohio, and 18 hubs throughout the United States. ABX became an independent public company effective August 16, 2003, as a result of the separation from its former parent company, Airborne, Inc., which was acquired by DHL Worldwide Express B. V. In addition to providing airlift capacity and sort center staffing to DHL Express, ABX provides charter and maintenance services to a diverse group of customers. With over 8,000 employees, ABX is the largest employer in a several-county area in southwestern Ohio. Contact: Quint Turner ABX Air, Inc. 937-382-5591