AirNet posts 3rd quarter profit
AirNet Systems Inc., a small package air express delivery company, announced a profit of $1 million in the third quarter ended Sept. 30, compared with $1.4 million a year ago. Net revenue was up 2.9 percent to $38 million.
The Columbus, Ohio-based company, which specializes in express service for the banking and medical industries, was hurt by the loss of business from the Federal Reserve for weekend deliveries of inter-bank checks, but said it had recovered most of the bank service revenue from new weekend business.