7250 Star Check Drive, Columbus, Ohio 43217
(Address of Principal Executive Offices) (Zip Code)

DEREGISTRATION OF SECURITIES

     On December 31, 1997, AirNet Systems, Inc. (the “Company”) filed a Registration Statement on Form S-8 (Registration No. 333-43605) with the Securities and Exchange Commission in order to register 200,000 Common Shares, par value $0.01 per share, of the Company (the “Common Shares”) and an indeterminate amount of interests to be offered and sold under the AirNet Systems, Inc. Retirement Savings Plan (the “Retirement Savings Plan”).

     Effective December 20, 2003, the Company’s Common Shares were eliminated as an investment option under the Retirement Savings Plan.

     Accordingly, the Company is filing this Post-Effective Amendment No. 1 to the Registration Statement in order to deregister the Common Shares of the Company covered by the Registration Statement that were unsold as of December 20, 2003 under the Retirement Savings Plan when Common Shares of the Company were eliminated as an investment option under the Retirement Savings Plan and terminate the Registration Statement.

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signatures on following page.)

SIGNATURES

      The Registrant. Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Post-Effective Amendment No. 1 to the Form S-8 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Columbus, State of Ohio, on the 18th day of April, 2006.

     Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 1 to the Form S-8 Registration Statement has been signed by the following persons in the capacities indicated, on the 18th day of April, 2006.

Name		Title
/s/ Joel E. Biggerstaff		Chairman of the Board, Chief Executive Officer,
Joel E. Biggerstaff		President and Director (Principal Executive Officer)
/s/ Gary W. Qualmann    Gary W. Qualmann		Chief Financial Officer, Treasurer and Secretary (Principal Financial Officer)
/s/ Ray L. Druseikis    Ray L. Druseikis		Vice President of Finance, Controller and Principal Accounting Officer
/s/ James M. Chadwick    James M. Chadwick		Director
/s/ Russell M. Gertmenian    Russell M. Gertmenian		Director
/s/ Gerald Hellerman    Gerald Hellerman		Director
/s/ David P. Lauer    David P. Lauer		Director
/s/ Bruce D. Parker    Bruce D. Parker		Director
/s James E. Riddle    James E. Riddle		Director

      The Plan . Pursuant to the requirements of the Securities Act of 1933, the trustees (or other persons who administer the employee benefit plan) have duly caused this Post-Effective Amendment No. 1 to the Form S-8 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Columbus, State of Ohio on the 18th day of April, 2006.

		AIRNET SYSTEMS, INC. RETIREMENT SAVINGS PLAN
		By:		/s/ Gary W. Qualmann
		Printed Name: Gary W. Qualmann
		Title: Chief Financial Officer, For AirNet Systems, Inc.