ABX Enters Air Freight Market to Compete with UPS, Others
January 14, 2008 – 4:16 amWe never realized just how dangerous it can be to deliver a FedEx package until we watched Tom Hanks crash-land in “Cast Away.” But flying your own fleet of giant jets all over the world is just part of the delivery business nowadays. And it’s a very competitive part for both the red-white-and-blue craft of FedEx (FDX) and its rival, the brown of United Parcel Service (UPS). Any newcomers trying to crash into this market - strictly in the business sense - have to have their own airlines, too. ABX has just morphed into a holding company, expanded its deal with DHL and acquired a Florida-based air cargo company. Today, with an expanded fleet of 135 aircraft, maybe ABX will get a little more visibility on the Wall Street radar.