AIRBORNE EXPRESS TO RAISE FUEL SURCHARGES

AIRBORNE EXPRESS TO RAISE FUEL SURCHARGES

   Airborne Express, a unit of Airborne Inc., said it will increase its fuel surcharge from 2.9 percent to 3.5 percent for all air express shipments moving through its transportation network, effective Oct. 10.

   The surcharge applies to all domestic, Canadian and International Express shipments. Airborne will also increase the existing fuel surcharge for its Ground Delivery Service and airborne@home shipments from 1.0 percent to 1.2 percent on the same date.

   'Our cost of fuel, especially jet fuel, has increased significantly in recent months,' said Carl Donaway, chairman and chief executive officer. 'The higher price causes a considerable increase in our operating expenses that cannot be fully absorbed or mitigated by our ongoing cost reduction efforts.'

   The company will monitor fuel trends and will 'make additional adjustments to the fuel surcharge as warranted,' Donaway said.