Bayside aquires Flight Express
10-29-2008, 07:26 PM
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Joined APC: Jun 2008
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Bayside aquires Flight Express
Word from THE MAN
AirNet’s owner, Bayside Capital, has purchased Flight Express, Inc., an Orlando-based provider of Part 135 air cargo carrier primarily focused on bank POD and life sciences transportation services. Flight Express and AirNet are separate portfolio companies for Bayside and will remain separate. However, Bayside has asked AirNet and Flight Express to work closely together to provide an integrated service offering. To this end, AirNet and Flight Express have signed an agreement forming a strategic partnership and will share certain resources.
The Partnership will help both companies grow. AirNet will be able to utilize a new fleet type, the Cessna 210, which provides a cost-effective solution for "thinner" routes. AirNet will also gain better access to Florida and other locations where Flight Express has a significant presence. Flight Express will be able to offer its customers access to a larger geographic footprint, a large established scheduled network, and a more diverse fleet of aircraft and capabilities.
The Partnership will also help both companies become more profitable. Both companies will utilize combined buying power to get better deals on fuel, supply purchases and other such items.
Both companies will remain separate. AirNet’s current corporate offices will remain in Columbus, and the headquarters for Flight Express will remain in Orlando. Both companies will operate separately with no changes for a period of time. The companies will continue to operate as individual entities under their respective Part 135 certificates.
Both companies will operate separately but will be encouraged to share knowledge and resources. Flight Express’s President will be retiring as part of the transaction with Bayside. So, AirNet’s senior management team is assuming his reporting relationships.
10-30-2008, 06:55 PM
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10-31-2008, 04:00 AM
#10
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Joined APC: Sep 2008
Position: Grad school student - again...
Posts: 104
Anytime I hear of Bayside taking control of a company, I shudder and hope to hell that I'm not part of it... I just had a few friends go to Flight Express and hope that they are not going to suffer for this. Do you guys think it is possible that Bayside may try to merge Airnet and Flight Express?
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