Airnet losing express business???

[starcheck1]

Whats the deal???

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>

 

[Guillotine007]

too bad you don't have access to 55 anymore, this is a dead horse over there

 

[Princedietrich]

Ok, here is the TRUTH behind that press release.

Airnet has an express customer who's contract is up for renegotiation in August and is most likely going to be renewed. This information comes from a flight department administrator who has forgotten more about the goings on of this company than I will ever learn.

The reason this press release went out is because the lawyers of Airnet, from the firm Dewey Cheatham and Howe, believe that anything which could adversely affect the standing of the company stock needs to be reported thusly. The reason the press release was worded in such an anti-Airnet horrible manner is likely intentional, in that it was meant to drive the price of the stock way down.

Why would one do that? Oh, I dunno. Maybe to get bought out?

Hmmm.