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(R6) Air Express: Staff Shake-Up and New Service Announcement

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andersona1

andersona1

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Air Express, based in Burbank California, recently fired its CEO due to lackluster performance. During Jessica Avery's stent as CEO, the company saw minimal growth and low passenger revenue. Avery was given her pink slip and let go in July of 2004, with no word on reasons directly from the company. One can only guess that the profitability of the company is the major reason. The Board of Directors appointed COO Andrew Waters as acting CEO August 1, 2004.

 

Since the appointment of Waters, Air Express has been able to secure leases on 10 new aircraft from leasing agencies for 10 years, worked with and signed a new hub and terminal agreement with Port Columbus Airport, and started to launch service. The company is on track for a loss in this month, and a possible minimal loss over this quarter, but profitability from the new additional flights as well as the new Hub will help to offset. Waters was quoted at the news conference moments ago, "Air Express is poised to become a major player in the United States Domestic Airline Service industry. In addition to Port Columbus, we are already in talks with another airport that is currently in the building process of a new terminal that is expected to be completed in 2006, we should have news on the finality of this contract in the coming months. In addition the company is looking to partner with a regional air carrier to help alleviate the need to begin to operate commuter sized planes."

 

Air Express was founded by Andrew Anderson and is a privately held company. It has recieved investments from various investment banks such as Luxemburg and Vanhowser, PriceWaters, MerrilBank, and TDCapital. All continue to work with the company and hold Directors Seats on its Board.

 

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Anyone wanting to assist with planning and expanding the airline to with a commuter style service with Short Haul, Lower Passenger Sized Planes let me know and we can work it out with a shared control.







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