Pinnacle Air Services

[MNR]

Deal should be done by the end of today.

My guess is that if the Pinnacle 4 wanted to they could go out and buy a bunch more 135 operations. Absorbing them would be the trick. They bought Jetride as much for its operations as its aircraft. So just because there is some other bigger operations out there now dosen't mean much. I think. Only time will tell in the long run.

 

[slickmagneto]

Have these two companies finally merged yet? I read earlier in this thread that a goal of Pinnacle was to be the largest 135. Well, I just found out from a buddy at Summit Jet that they have merged with another company and now have over 100 A/C. This isn't meant to start a wild fire. Seems ironic that a goal to be the largest just went down the tubes. Or.....are there plans to buy more companies?

Later. Gotta buy beer and cigars for the poker game tonight.

Summit, Spirit, Regal, Jetcorp and a few others are now owned by JetDirect of Coatesville, Pa. Most of the aircraft are leased or managed. BTW, My invitation to the party must have been lost in the mail. Yea, I'm sure that's what happened. Exactly where are the beers and smokes located?

 

[Bae146]

Nelson Sucks !!!!!!

 

[iLR60Mac]

Summit, Spirit, Regal, Jetcorp and a few others are now owned by JetDirect of Coatesville, Pa. Most of the aircraft are leased or managed. BTW, My invitation to the party must have been lost in the mail. Yea, I'm sure that's what happened. Exactly where are the beers and smokes located?

The poker table is located in my garage about 10 feet from my beer fridge and about 12 feet from the bull line for my dart board. These are in a geographical location north of PDK. This is the monthly poker game. The new guy who hase been here for a couple of months now has won every time. He is quickly becoming unpopular. We need a ringer. Got a good face?

 

[FL410guy]

Well Gents, I'm wearing my new Jetride/pinnalce ID badge and packing my new Pinnacle MasterCard. I would say today is the day we all been waiting for. The wigs are completing the closing in Las Vegas as I type this. The planes have been grounded until the transaction is complete and we are shipping everything associated with airnet back to Columbus including CC's, ID's and AC documents. It's kinda funny reading this tread in the beginning and seeing how very wrong we all were about today. Anyway's....Glad to be aboard.

 

[Dave J]

Well Gents, I'm wearing my new Jetride/pinnalce ID badge and packing my new Pinnacle MasterCard. I would say today is the day we all been waiting for. The wigs are completing the closing in Las Vegas as I type this. The planes have been grounded until the transaction is complete and we are shipping everything associated with airnet back to Columbus including CC's, ID's and AC documents. It's kinda funny reading this tread in the beginning and seeing how very wrong we all were about today. Anyway's....Glad to be aboard.

Welcome to PA guys. Ahh damit that means I am going to have to do some extra flying for the next few days till you all get back in the air this could interfear with my beer. lol

Now lets see what happens next

Pease

 

[starcheckdriver]

AirNet Systems, Inc. Completes Sale of Jetride, Inc.

COLUMBUS, Ohio, Sept. 26 /PRNewswire-FirstCall/ -- AirNet Systems, Inc. (Amex: ANS - News) today announced completion of the sale of its passenger charter business, including the aircraft and substantially all of the aircraft related assets of Jetride, Inc., a wholly-owned subsidiary, to Pinnacle Air, LLC ("Pinnacle"). The purchase price was $41 million in cash.

AirNet will repay debt secured by Jetride aircraft, which was approximately $29 million at closing. Following repayment of Jetride's debt as well as payment of applicable taxes and expenses related to the transaction, AirNet plans to use the remaining sale proceeds to further reduce debt outstanding under its revolving credit facility.

AirNet Systems, Inc.
AirNet Systems, Inc. focuses the Company's resources on providing value- added, time-critical aviation services to a diverse set of customers in the most service-intensive, cost-effective manner possible. AirNet operates an integrated national transportation network that provides expedited transportation services to banks and time-critical small package shippers nationwide. The Company's aircraft are located strategically throughout the United States. To find out more, visit AirNet's website at www.airnet.com.

Pinnacle Air, LLC Pinnacle Air, LLC operates Pinnacle Air Executive Jet Charter and Pinnacle Air Services FBO (Fixed Base Operator). The Pinnacle Air fleet includes 9 Learjets, 2 Falcon 50s and 1 Citation VII and operates on a Federal Aviation Regulation Part 135 certificate, which was obtained in 2004. Primary aircraft operations are in Northwest Arkansas, Bridgeport, Connecticut and Las Vegas, Nevada. Pinnacle Air has received the prestigious Q-Star rating for safety, professionalism and performance

 

[slickmagneto]

The poker table is located in my garage about 10 feet from my beer fridge and about 12 feet from the bull line for my dart board. These are in a geographical location north of PDK. This is the monthly poker game. The new guy who hase been here for a couple of months now has won every time. He is quickly becoming unpopular. We need a ringer. Got a good face?

I guess I do. Everyone thinks I'm Nelson. BTW, Welcome to the JR guys to the new company.

 

[Dave J]

I guess I do. Everyone thinks I'm Nelson. BTW, Welcome to the JR guys to the new company.

Not that I think you are but who are you anyway since you brought it up? I a have an idea but not sure send me a private message.

 

[Dave J]

I said something here but felt it might be best to edit it out so I had to write something.