Airborne Announces Preliminary First Quarter Results

Annual Shareholders' Meeting to Be Held Tomorrow



Apr 23, 2001, 01:00 ET from Airborne, Inc.

    SEATTLE, April 23 /PRNewswire Interactive Press Release/ -- Airborne, Inc.
 (NYSE:   ABF) will tell shareholders at Tuesday morning's annual meeting the
 company is implementing various initiatives to combat the lack of core
 domestic business growth that affected 2000 earnings and continues to
 negatively impact its 2001 results.  Due to the sluggish economy and the shift
 in its mix of business during the quarter ended March 31, 2001, the company
 will report a loss of $17.0 million, or $(.35) per share, compared to earnings
 of $17.9 million, or $.36 per share, in the like quarter a year ago.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000321/AIRBORNE )
     Revenues increased 1.4% to $824 million compared to $812 million in the
 first quarter of 2000.  Operating expenses rose 8.1% to $842 million compared
 to the year ago quarter, but declined 2.2% compared to the fourth quarter of
 2000.  The company, which is reviewing all of its expenditures, has reduced
 its capital spending plan for 2001 to between $200 - 230 million from
 $260 million.  Comprehensive first quarter results will be released on
 Tuesday, May 1 at 5:00 a.m. PDT.  Management will host a conference call that
 morning at 7:30 a.m. PDT/10:30 a.m. EDT to review first quarter operations.
 Investors can access the call live at the company's website www.airborne.com,
 or at www.streetfusion.com. A replay of the webcast will be available through
 May 22, 2001.
     Airborne management will discuss its initiatives and operating strategies
 for 2001 at tomorrow's annual shareholders' meeting, which will be held at
 10:00 a.m. PDT at The Westin Hotel, Seattle, Washington.
 
     Airborne's growth initiatives include:
 
      1)  the April launch of a nationwide Ground Delivery Service to improve
          the company's competitive position;
      2)  a new pricing structure that includes a rate increase and a migration
          to zone-based pricing to boost operating yields -- both of which are
          being phased in throughout the year;
      3)  expanding the sales force and enhancing sales training and incentives
          to increase shipment volume and gain new business;
      4)  adding e-commerce and marketing alliances to attract the small
          business and infrequent shipper market.
 
     Airborne, Inc. is the holding company for Airborne Express.  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 customers 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.
     Except for historical information contained herein, the matters discussed
 in this release contain forward-looking statements that involve risks and
 uncertainties.  The Company's actual results may differ materially from the
 results discussed in the forward-looking statements.  Specifically, there are
 a number of important factors that could cause actual results to differ
 materially from those anticipated by any forward-looking information.  Factors
 that might cause such a difference include, but are not limited to,
 miscalculations by the company's employees and discoveries during review by
 the outside auditors, the ability of the company to control costs, and the
 acceptance of new products and product pricing.
 
     CONTACT:  Investors, Lanny Michael, CFO, 206-281-1003, or Media,
 Robert Mintz, Public Relations, 206-830-3185, both of Airborne, Inc.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X20153367
 
 

SOURCE Airborne, Inc.
    SEATTLE, April 23 /PRNewswire Interactive Press Release/ -- Airborne, Inc.
 (NYSE:   ABF) will tell shareholders at Tuesday morning's annual meeting the
 company is implementing various initiatives to combat the lack of core
 domestic business growth that affected 2000 earnings and continues to
 negatively impact its 2001 results.  Due to the sluggish economy and the shift
 in its mix of business during the quarter ended March 31, 2001, the company
 will report a loss of $17.0 million, or $(.35) per share, compared to earnings
 of $17.9 million, or $.36 per share, in the like quarter a year ago.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20000321/AIRBORNE )
     Revenues increased 1.4% to $824 million compared to $812 million in the
 first quarter of 2000.  Operating expenses rose 8.1% to $842 million compared
 to the year ago quarter, but declined 2.2% compared to the fourth quarter of
 2000.  The company, which is reviewing all of its expenditures, has reduced
 its capital spending plan for 2001 to between $200 - 230 million from
 $260 million.  Comprehensive first quarter results will be released on
 Tuesday, May 1 at 5:00 a.m. PDT.  Management will host a conference call that
 morning at 7:30 a.m. PDT/10:30 a.m. EDT to review first quarter operations.
 Investors can access the call live at the company's website www.airborne.com,
 or at www.streetfusion.com. A replay of the webcast will be available through
 May 22, 2001.
     Airborne management will discuss its initiatives and operating strategies
 for 2001 at tomorrow's annual shareholders' meeting, which will be held at
 10:00 a.m. PDT at The Westin Hotel, Seattle, Washington.
 
     Airborne's growth initiatives include:
 
      1)  the April launch of a nationwide Ground Delivery Service to improve
          the company's competitive position;
      2)  a new pricing structure that includes a rate increase and a migration
          to zone-based pricing to boost operating yields -- both of which are
          being phased in throughout the year;
      3)  expanding the sales force and enhancing sales training and incentives
          to increase shipment volume and gain new business;
      4)  adding e-commerce and marketing alliances to attract the small
          business and infrequent shipper market.
 
     Airborne, Inc. is the holding company for Airborne Express.  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 customers 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.
     Except for historical information contained herein, the matters discussed
 in this release contain forward-looking statements that involve risks and
 uncertainties.  The Company's actual results may differ materially from the
 results discussed in the forward-looking statements.  Specifically, there are
 a number of important factors that could cause actual results to differ
 materially from those anticipated by any forward-looking information.  Factors
 that might cause such a difference include, but are not limited to,
 miscalculations by the company's employees and discoveries during review by
 the outside auditors, the ability of the company to control costs, and the
 acceptance of new products and product pricing.
 
     CONTACT:  Investors, Lanny Michael, CFO, 206-281-1003, or Media,
 Robert Mintz, Public Relations, 206-830-3185, both of Airborne, Inc.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X20153367
 
 SOURCE  Airborne, Inc.