Airnet

[LAFrequentflyer]

Merry Christmas,

For all AIRNET pilots out there I have a question...What is company policy / plans for check 21? I understand check hauling is close to 75% of your business - i got that off interview gouge.

Please correct me if I'm wrong and provide any information you can on Airnets future plans...

Sincerely,
LA

 

[airjake]

Right now its still cheaper for the banks to send their checks the old fashioned way rather than to switch over to electronic processing. The change is coming within the next couple of years. Its up to Airnet to adapt to the change. Take a look at some of Airnet's financial statements like 10k online to get an idea about the future of the company.

 

[MNR]

Airnet has done a number of things to diversify in the last 10 years. They have known check 21 was coming for quite a while. I believe their check loads are down to about 50% of what they fly on the cargo side these day. The planes however are still quite full. So that 75% figure is fairly high. Apparently they could fill the planes with just other cargo but the company is still tied to flying the check and therefore tied to a route structure to transport them. That could be adjusted if the check instantly dissappeared. Something that people have been saying will happen very soon for quite a long time. With intrest rates up Airnet will be even more vital to banks. My guess is that eventually Airnet will restructure its entire route system to fly cargo other than checks, and check will eventually become secondary business before the check actually dissappears. Besides diversifying what type of cargo they fly they have also started flying people, the Jetride division has 11 Aircraft currently and has been doing quite well.