UPS, Airbus Revise A380 Agreement
LOUISVILLE, Feb. 23, 2007 - UPS (NYSE:UPS) and Airbus signed an agreement yesterday that sets out a timetable for deciding the status of UPSís order for the freighter version of the A380. The agreement specifies changed delivery dates for the A380F and provides for possible termination of the original purchase agreement by either party later in 2007.
Deliveries of UPSís first 10 A380s were originally scheduled to begin in 2009 and run through 2012.
ďUPSís decision to purchase the A380 freighter was based on a lengthy evaluation of our future network needs to meet customer demands across a variety of global trade lanes,Ē said Bob Lekites, UPSís vice president of Airline and International Operations. ďThose needs still exist and UPS has been carefully evaluating various options since Airbus announced production delays late last year. This agreement will provide us additional time to evaluate our network requirements and make a decision once and for all as to how best to ensure service to our customers.Ē
UPS, which celebrates its 100th anniversary in 2007, is the worldís largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. UPSís stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at UPS.com. To get UPS news direct, visit pressroom.ups.com/RSS.
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Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the companyís strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, strikes, work stoppages and slowdowns, increases in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the companyís Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.
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