Airnet possibly losing Express Business...

[Stone Cold]

AirNet losing express customer

Monday May 22, 11:35 am ET

AirNet Systems Inc. is losing a customer of its express-shipping business, putting a multimillion-dollar hole in its revenue base.
The termination of the customer's contract is effective Aug. 15.
The customer accounted for $5.2 million in revenue in 2005, according to a Securities and Exchange Commission filing, or about 10 percent of the company's express-services revenue last year.
Columbus-based AirNet's express services accounted for about $52.4 million, or 27 percent, of the company's $196.4 million in revenue in 2005.
AirNet is scheduled to meet with the undisclosed customer in June to try to work out a new air-transportation deal that fits the customer's distribution schedule, it said in the filing.
AirNet (AMEX:ANS - News) is a specialty cargo carrier and provides passenger charter services through its Jetride Inc. subsidiary.
Published May 22, 2006 by Business First


I have no clue what it means for us, but speculation around the scuttlebutt is it is a possibility to keep them, but they are wanting to redo our schedule...we'll see what happens in the future.

As I said in an earlier thread, if you are looking at Airnet, keep an eye on what's going on (most check haulers, for that matter) and make an informed decision. As far as myself, I'll keep happily flying until they shut the doors/I find something better (meaning a job I can hopefully plan on retiring from).

[wombat]

that's a pretty big chunk of flying. hopefully they'll be able to find some other work for the planes (if they do end up losing it). good luck!

[Stone Cold]

Originally Posted by wombat

that's a pretty big chunk of flying. hopefully they'll be able to find some other work for the planes (if they do end up losing it). good luck!

This is all add-on work, meaning we piggy back it with the check routes, so the planes will still be flying. We are possibly losing a big chunk of extra money, though.

[NightCargo]

Originally Posted by txpilot

This is all add-on work, meaning we piggy back it with the check routes, so the planes will still be flying. We are possibly losing a big chunk of extra money, though.

Any idea if this is work that is based on the east or west coast? I know that Airnet had lost some work out west and am just wondering if it is getting worse out there.

[Stone Cold]

It's East coast stuff mostly...our brilliant mgmt has been outsourcing out West coast stuff for years. They figure it's cheaper to charter it out than to have us fly the runs. Of course, most of the people we're chartering out to are horrible reliability-wise. Go figure...sound familiar in this industry, doesn't it?

[falconvalley]

I wouldn't fret too much. Hopefully we can hang on to that customer, but if it's as simple as scheduling, we should be able to work that one out. As far as getting a job at Airnet- there are two things to think about:

1. The dreaded Electronic Check. That won't make Airnet go red for a while yet.

2. The possibility of Airnet going private. Any new owner could make some drastic changes, which could affect the runs.

I think a vast majority of pilots who are applying at Airnet aren't seriously considering retiring from Airnet just quite yet. So, the time builders will still apply, despite all the warnings to stay away.

Does Airnet still have Jetride? I heard they were selling it off.

Lazy8

[Stone Cold]

Originally Posted by Lazy8

Does Airnet still have Jetride? I heard they were selling it off.

Lazy8

Last I heard, we still own it...for how long is anybody's guess. It was supposed to be "any day now", but that's been about a month in the works.

[falconvalley]

What's Jetride? j/k hehe. They're running a class right now.