Airnet's Letter of Intent to Sell

[starcheckdriver]

Apparently Airnet Systems has entered into an agreement with a private investment firm to sell the company and take her private for $4.35 a share. No mention of who the buyer is. Any ideas, rumors or hints?

 

[starchkr]

You are right...although the sale price per share is $4.55.

Looks like Goldstein and his goons might finally get their greasy nubs on us after all. It's just kinda crazy that they will be using the stock price +32% from the day before BGL started their search for a new buyer versus the current share price on the day the transition was announced...this means the share price should have been around $5.11 instead of $4.55...oh well, i guess i will be losing money on this one.

For all you newbies wondering who Goldstein is, you can do a search on past threads about him and his intentions with the company. He finally got his way when the board elected two of his "friends and business partners" to the board. Oh well, hold on and lets see where this ride takes us...

 

[Dangerkitty]

Apparently Airnet Systems has entered into an agreement with a private investment firm to sell the company and take her private for $4.35 a share. No mention of who the buyer is. Any ideas, rumors or hints?

My advice to you is to start drinking heavily.

 

[cforst513]

i heard it was USAir or United.


HAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!

 

[CFI4LIFE]

Airnet will be just fine. However.... I am always in favor of heavy drinking! :beer:

 

[flyin4pennies]

Whats that I hear???
The rumor mill... CHUG, CHUG, CHUG

Hey cforst513 it looks like you got that head bobbin thing down pat.
Lots of experience? You should make 747 Capt. in no time.

 

[starcheckdriver]

Airnet will be just fine. However.... I am always in favor of heavy drinking! :beer:

How do you figure Airnet will be fine? I figure this is the beginning of the end.

 

[Mason]

As a former Starchecker, I've been watching this for quite sometime now. I imagine that the "private equity" firm buying Airnet is Goldstein and his guys. From what I've seen so far, they believe that Airnet can be sold off for more than the 42mil paid for the company. Sucks.... because I'll look back sometimes and realize that flying a Lear 35 to the limit with no pax was my pinnacle in aviation.

 

[CFI4LIFE]

How do you figure Airnet will be fine? I figure this is the beginning of the end.

I have faith that things are going to work out for the best. I'm trying to stay positive! But I will say that my resume is up to date!!

 

[Dangerkitty]

I have faith that things are going to work out for the best. I'm trying to stay positive! But I will say that my resume is up to date!!

It would be a shame if they dismantled Airnet. I have seen the operation up close and personal and thought it was quite impressive. The infrastructure is there, the workforce is there, and the need is there. You just need someone running it other than that dumbass Biggerstaff.

 

[starchkr]

"You just need someone running it other than that dumbass Biggerstaff."

That quote is exactly why Airnet is in this position to begin with! If we had someone who really cared about the company, and not his wallet, we would be doing much better right now.

 

[cforst513]

darnit, they BETTER not close!! i need them in like 2 years b/c they're going to be my starting point in this industry

 

[idratherfly4283]

whoa putting the carriage way before the horse there big guy, first you have to get the hours (which is presumably 2 yrs away), then you have to get the interview, then the offer to attend training, then pass training to get the job, most likely get your instrument, commercial, and multiengine ratings. I would slow down a lot, you have no idea how much things can change in two years, including where you want to work.

 

[flyin4pennies]

Hey idratherfly4283,

cforst413 will do fine. He's that head action going 4 him!!

 

[cforst513]

heck yes i do!!!

i shoulda said that airnet is one place that i would LOVE to be employed when the time comes.

 

[Dangerkitty]

heck yes i do!!!

i shoulda said that airnet is one place that i would LOVE to be employed when the time comes.

Cforst513,

I will sell you 1000 hours or so on the cheap. Turbine PIC time does cost a little extra. Maybe you could have an Airnet Interview in a few weeks or so.

 

[cforst513]

good man! i'll take it!! (if by cheap you mean free, then count me in)

 

[BOOYA]

Yummmmm . . . . .Donatos Pizza.

 

[cforst513]

my favorite is pepperoni and bacon. need LOTS of bacon. man, i love donatos, and MAN i love the buckeyes!!!!!

 

[starchkr]

BUCKEYES???!!!! Bwahaaahaaahaaahaaaahaaa!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Great game, but still...those horns whopped your butts!!:laugh:


HOOK EM'

 

[Guillotine007]

if i had a million dollars i would buy Troy Smith

 

[Apilot]

whoa putting the carriage way before the horse there big guy, first you have to get the hours (which is presumably 2 yrs away), then you have to get the interview, then the offer to attend training, then pass training to get the job, most likely get your instrument, commercial, and multiengine ratings. I would slow down a lot, you have no idea how much things can change in two years, including where you want to work.

Well he seems pretty positive and upbeat. I don't think it will be a problem.
It's not like aviation requires the intelligence and ability of a NASA physicist; calculating the physics evolved and re-entering the earth’s atmosphere.

I personally have never been challenged to the point of frustration.

With some hard work, 800 hours, and a few contacts you'll be in the door no problem (if they're still around).

Keeping with the NASA theme this isn't exactly getting getting though the gemini astronaut selection process.

Blue sky's and tails winds CForst


And uh oh Strchkr....OakSU is slaughtering those 'horns.

 

[Apilot]

...Spoke too soon about Texas

 

[idratherfly4283]

ok?...

 

[schoolio]

Any new info?

 

[Princedietrich]

There is absolutely no comfirmation whatsoever that Goldstein is the one buying Airnet. People are simply throwing his name around because of fear and the desire to fuel the fires of a rumor intended to scare people. Until such time that an official memo or an SEC filing comes out that contains a name, I'm not believing a word of it. All we have is a letter announcing the intention to sell. Nothing more.

Now, there is still time until the sale becomes official. So for the time being Airnet is still a publicly traded company. That being said, how can the company go about removing Biggerstaff before he kills the place? I figure the process wouldn't be an easy one by any stretch, but I'm sure it's possible. It's clear and simple, Biggerstaff has to go. He's incompetent, greedy, spineless, and is quite possibly the worst executive type on the planet.

Sigh, where the hell is Jerry Mercer when we need him. Sittin on a beach, drinking a beer probably.

 

[starcheckdriver]

The lastest rumor I heard is that we might possibly be bought by a venture capitalist firm who wants to invest some serious dollars into the operation to make better an already good thing. This seems very plausible since I find it hard to believe anyone (including Goldstein) could buy Airnet and liquidate us for a profit.

Sure, we have assets worth money on paper. However, our planes are not worth squat unless there are buyers. Good luck finding those for old, cargo 35s, Barons and Navajos. The building is about the only asset we have worth selling.

 

[Princedietrich]

Well said, well said. Sure, one may be able to find a buyer for an old Baron, but good luck finding buyers for 40 old barons that hit the market all at once. Can you say market flooding?

Personally, I like your theory about the venture capitolist investing in us to imprrove us. We've got boatloads of potential, that much is obvious to anyone who bothers to look. If only we could get rid of that idiot Bigglesworth.

 

[Sgt. Hartman]

The building is about the only asset we have worth selling.

And after all that, who wants a huge hangar and brand new facility at an airport that nobody really uses besides the military...AirTahoma?:laugh:

 

[rubicon789]

Personally I think the investors are going to buy us up, and take us private again. Then build the business back-up, turn more profits and make us better. And after all that try and sell us again in a 5-7 years and walk away with their 10mill in return.

At least thats what I would do. I think we will still be around for years to come. At least I hope.