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2006 News Releases

AirNet Systems, Inc. Appoints Bruce D. Parker as CEO, as Joel E. Biggerstaff Announces His Resignation
December 29, 2006
AirNet Systems, Inc. announced today that Joel E. Biggerstaff, President, Chief Executive Officer and Chairman of AirNet Systems, Inc. has resigned as Chief Executive Officer of the company.

AirNet Systems, Inc. Completes Sale of Jetride, Inc.
September 26, 2006
AirNet Systems, Inc. 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”).

AirNet Systems, Inc. Announces Definitive Agreement to Sell Assets of Jetride, Inc.
July 26, 2006
AirNet Systems, Inc. today announced that it has entered into a definitive agreement with Pinnacle Air, LLC (“Pinnacle”) to sell its passenger charter business, including the aircraft and substantially all of the aircraft-related assets of Jetride, Inc. (“Jetride”) for $41 million in cash.

AirNet Systems, Inc. Common Shares Approved for Listing on American Stock Exchange
January 20 , 2006
AirNet Systems, Inc. today announced that its common shares have been approved for listing on the American Stock Exchange and that it expects trading in its common shares on the American Stock Exchange to commence at the market opening on Wednesday, January 25, 2006.