Contact Information: CONTACTS: AirNet Systems, Inc. Fred deLeeuw (614) 409-4832 InvestQuest, Inc. Bob Lentz (614) 876-1900
AirNet Systems Redesigns Network for Growth
| Source: AirNet Systems, Inc.
COLUMBUS, OH--(Marketwire - September 24, 2008) - AirNet Systems, Inc. ("AirNet") today
announced changes to its airline network and operations that will enhance
services to customers and position the Company for future growth. Flight
hours and the number of aircraft required to support the network will be
reduced, with minimal impact on the primary cities served. This change
represents a shift in strategic focus from an airline network designed to
serve the historical needs of AirNet's bank customers to a redesigned
network that will better meet the needs of all customers. These changes
will enable AirNet to maintain its position as the premium provider of
transportation services for small packages that require special handling,
custody and control.
AirNet's customers will continue to benefit from its extensive dedicated
and charter airline network, which includes more than 100 owned and
operated aircraft. For more than a decade AirNet has balanced the needs of
its bank customers and express customers within its network. During this
period the express business has grown significantly in markets, such as
life sciences, radiopharmaceuticals, laboratories and other niches.
However, changes in the transportation needs of bank customers necessitate
a reconfigured operations footprint at AirNet. The redesigned network
involves the relocation of AirNet's primary hub and sort operations to
Chicago, Illinois. AirNet's corporate and administrative offices, airline
operations and customer resource center will remain in Columbus, Ohio.
George Gonzalez, Chief Executive Officer of AirNet, stated, "We determined
it was necessary to redesign the airline network following intensive review
and analysis to determine the best course of action for AirNet's future.
Our express business is well-positioned and growing. Our new network will
provide more flexibility in serving customers in a cost efficient manner.
We are excited about our increased presence in Chicago and look forward to
building upon our core strengths as we expand AirNet's presence and pursue
additional growth opportunities."
About AirNet Systems, Inc.
AirNet Systems, Inc., an affiliate of Bayside Capital, focuses its
resources on providing value-added, time-critical aviation services to a
diverse set of customers in the most service-intensive, cost-effective
manner possible. AirNet operates dedicated charters and an integrated
national transportation network that provides expedited transportation
services to banks and time-critical small package shippers nationwide.
AirNet's aircraft are located strategically throughout the United States.
To find out more AirNet visit the Company's website at www.airnet.com and
to find out more about Bayside Capital visit www.bayside.com.