=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2003/07/14/f= inancial1942EDT0341.DTL ---------------------------------------------------------------------- Monday, July 14, 2003 (AP) Group led by DHL Airways CEO completes purchase of airline (07-14) 16:42 PDT MIAMI (AP) -- DHL Airways Inc. said Monday an investor group led by its chief executive completed the previously announced purchase of the cargo carrier for $57 million. Chairman and CEO John Dasburg and two other investors will own all shares of the privately held company, which is now called AStar Air Cargo Inc. The ownership group secured financing for the deal from Boeing Capital Corp. Miami-based AStar also agreed to buy or lease at least 10 more 727-200 aircraft from a Boeing Capital affiliate. The company announced in May that the Dasburg-led group would buy it, am= id questions about the stake a foreign entity can hold in U.S. airline. Deutsche Post, the German postal system, formerly held a 25 percent voti= ng stake in DHL Airways, which critics and competitors say violates U.S. law. Despite Monday's sale, the Department of Transportation is still investigating. "The completion of this transaction solidifies the airline's U.S. ownership, control and management," the company said. The airline also signed an 11-year deal with its biggest customer, DHL Worldwide Express, the U.S. partner of Deutsche Post. On the Net: AStar Air Cargo: www.astaraircargo.us =20 ---------------------------------------------------------------------- Copyright 2003 AP