Airnet sold???

[Stone Cold]

For those looking to come here, make sure you keep an eye on what's going on right now. We have received an e-mail from the CEO stating Airnet has possibly been sold to a private investment group, with no final details, other than to say it might happen by 15 Dec, and it is being sold for a stock price of less than market value now.I have no clue what this means for us...could be good, could be very bad. There are threads on other web sites stating all the speculations, so you can feel free to look those over or make your own up here. I will not speculate and will just wait and see what happens. The resume is getting updated this weekend though :-(Welcome to aviation!!!

[wheelsup]

I work for a large private company, and IMO it's better than working for a public one. No shareholders to impress, no one to answer to.

Downside is you can't sell stock to raise capital for expansion, but for you that ain't a big deal because you're single pilot anyway.

You'll be ok!

~wheelsup

[Doug Taylor]

Do you think it has anything to do with the fallout from the "Air 21" legislation about banking?

[averyrm]

I'm thinking we'll end up being ok. *crosses fingers*

[Stone Cold]

Originally Posted by Doug Taylor

Do you think it has anything to do with the fallout from the "Air 21" legislation about banking?

Not at all. "They" are wanting us to be held privately again, like stated above, and to not have to answer to shareholders, according to higher-ups. It all depends on who it is buying us, and what your perspective of the company is. Believe it or not, the sale, according to the CEO, is supposedly to inject some cash into us for expansion. Like I said, though, it depends on who it is buying us.

As far as Check 21, we are a long way from losing bank work. Most of my loads have been all checks, and yes, there are some routes that we lost, but there are also more routes added. Most of my loads have been more than what has been there historically, so no we are not losing that much business. Some of the people that know a lot more than I are saying we will always have some check work. Some banks can't/won't go through the expense and hastle of electronic transfers, etc.

Fingers are crossed with you avery...what run are you on, anyways?

TX

[NightCargo]

Are you guys seeing any more nuke work out of CPS? I know Airnet had pinned some high hopes on running those contracts. As a former starchecker (and current shareholder), I'm denifetly pulling for you guys!

NightCargo

[Kingairer]

Originally Posted by wheelsup

I work for a large private company, and IMO it's better than working for a public one. No shareholders to impress, no one to answer to.

Downside is you can't sell stock to raise capital for expansion, but for you that ain't a big deal because you're single pilot anyway.

You'll be ok!

~wheelsup

Not always. Being private allows mgmt to hide information, especially during contract times, and say they are going broke when they are really rackin' it in. At least with public company they have to disclose certain info. I would say both sides have pros and cons.

[kellwolf]

Well, even with a public company there are ways to cook the books. Simply disclosing the info is no guarantee that it's accurate.

As far as banks not using the modern technology, I can TOTALLY see that. Try banking at BancorpSouth in Mississippi, and you'll see what I mean. Can't pay anything over the phone, can't pay anything on-line, and they want you to come to the local branch to fill out any paper work. The last time I was in there to deal with ANOTHER screw up on my car loan, the guy handling my loan couldn't even work the Windows based computer. He actually said "If this were just on paper, I could have had it done hours ago." I didn't even see a damn fax machine in the bank branch. There are actually bank manager out there scared of the new technology.

[averyrm]

I'm on the simulator week of IPTP, no run yet. Two more weeks.

[Stone Cold]

That means I saw you in the pilot's lounge last Wed. night. I was there all night on standby and now spending the week in TEB. Good times! Good luck in the sim; I'm sure you'll do fine.TX

[averyrm]

I was the one talking with Kevin M in the lounge.

[Flysher]

hows the training been so far? How are you adjusting to the night time schedule?


Im preparing this week to send in another application with updated times and such. Hoping they call me soon

[averyrm]

Sorry I didn't reply sooner, I've been pretty busy with the training.

Classes are great, it takes some work, but you learn a lot and it really gets you ready for flying the line.

Transfering to nights has been great for me, I get to stay up late and wake up late - I think it's how my body was designed. Weekends haven't been too big of a deal either, sleeping in 'till 1 or 2 still gives you plenty of time to get things done.

[Stone Cold]

Originally Posted by NightCargo

Are you guys seeing any more nuke work out of CPS? I know Airnet had pinned some high hopes on running those contracts. As a former starchecker (and current shareholder), I'm denifetly pulling for you guys!

NightCargo

Sorry, Night, I didn't even see this question buried in there...

I'm not sure about CPS, because I haven't flown those routes, but I will say I have seen more radiopharms lately, so I'm not sure if it's been increasing, or if it's just the routes I've been doing lately.

As far as the buyout, it's still up in the air, with nothing official, but we supposedly have a competing offer on the table. I guess we'll see what happens. Stay tuned for more info.

TX

[cimepilot]

The Airnet buyout deal fell through. I have no idea what happened or why, but there will be no sale and I guess business as usual for now.

[mnixon]

Originally Posted by NightCargo

Are you guys seeing any more nuke work out of CPS? I know Airnet had pinned some high hopes on running those contracts. As a former starchecker (and current shareholder), I'm denifetly pulling for you guys!

NightCargo

I know they have a dedicated run from CPS to MEM every day in a van running pharms. 243 does a charter from IND to CPS for pharms also, sometimes some nukes.