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AirNet Systems, Inc. Announces Initiation of Marketing Process.

Publication: PR Newswire
Publication Date: 04-MAY-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
COLUMBUS, Ohio, May 4 /PRNewswire-FirstCall/ -- AirNet Systems, Inc. today announced that the Board of Directors unanimously authorized Brown Gibbons Lang & Company ("BGL") to solicit potential offers to acquire the Company. As announced in January 2005, BGL is the investment banking firm retained as the Company's financial advisor to analyze the Company's strategic alternatives to enhance shareholder value. The Board's decision comes after careful consideration of and is consistent with the recommendations provided by BGL. The Company conducts its business in two segments, Delivery Services which includes Bank services and Express services, and Passenger Charter services through Jetride, Inc., a wholly-owned subsidiary.

The Board also established a Special Committee consisting solely of the independent directors to oversee the marketing process. The Company, through the Special...

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