UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 17, 2007 (October 15, 2007)
AirNet Systems, Inc.
(Exact name of registrant as specified in its charter)
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Ohio
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001-13025
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31-1458309
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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7250 Star Check Drive, Columbus, Ohio 43217
(Address of principal executive offices) (Zip Code)
(614) 409-4900
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 8.01. Other Events
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On October 15, 2007, AirNet Systems, Inc. (“AirNet”) issued a news release announcing a new
pricing structure for bank customers. The October 15, 2007 news release is included with this
Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(a)
Financial statements of businesses acquired
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Not applicable.
(b)
Pro forma financial information
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Not applicable.
(c)
Shell company transactions
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Not applicable.
(d)
Exhibits
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Exhibit No.
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Description
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99.1
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News Release issued by AirNet Systems, Inc. on
October 15, 2007 announcing a new pricing
structure for bank customers
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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AIRNET SYSTEMS, INC.
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Dated: October 17, 2007
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By:
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/s/ Ray L. Druseikis
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Ray L. Druseikis
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VP of Finance & Controller; Interim
Chief Financial Officer, Treasurer and Secretary
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INDEX TO EXHIBITS
Current Report on Form 8-K
Dated October 17, 2007
AirNet Systems, Inc.
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Exhibit No.
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Description
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99.1
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News Release issued by AirNet Systems, Inc. on October 15,
2007 announcing a new pricing structure for bank customers
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FOR IMMEDIATE RELEASE
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CONTACT:
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AirNet Systems, Inc.
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InvestQuest, Inc.
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Bruce Parker
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Bob Lentz
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(614) 409-4878
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(614) 876-1900
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AirNet Systems Announces New Pricing Structure for Bank Customers
COLUMBUS, Ohio (October 15, 2007)
AirNet Systems, Inc. (AMEX: ANS) today announced a new pricing
structure for it’s weekday bank customers intended to better align price with AirNet’s cost to
serve, preserve service to those cities the banking industry view as important operational
centers, and assist bank customers with orderly implementation of future changes to deliveries.
This new structure incorporates tiered zone pricing features where cities are categorized by
current shipping volumes based on both origins and destinations. Banks that need to ship from
origins and/or to destinations in non primary (core) cities will pay tiered surcharges for such
shipments, which are tied to AirNet’s cost-to-serve in those markets. Additionally, AirNet has
implemented a Weekday Core Support Fee that will enable AirNet to continue to provide services for
the core cities as the banking industry’s transition to image documents continues. AirNet believes
that these fees will result in more stable and predictable services as its bank customers continue
to reduce check shipments.
AirNet designed this new pricing structure after consulting with banking customers as they migrate
from physical delivery of cancelled checks to electronic image transfer. The Company notified its
weekday air system banking customers today about the new pricing plan and AirNet intends to amend
its current agreements.
Jeffrey Harris, Chief Operating Officer stated, “The new pricing structure announced today
represents our ongoing commitment to adapt to changes in the banking industry. We continue to work
with our customers to meet their evolving needs and provide a level of service that is mutually
beneficial to both AirNet and the banking industry.”
AirNet Systems, Inc.
AirNet Systems, Inc. focuses its 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. AirNet’s
aircraft are located strategically throughout the United States. To find out more, visit AirNet’s
website at www.airnet.com.
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