| Fine Air Services, Inc. | |||
| Proposed Ticker: | BIGF | 2261 N.W. 67th Avenue, Building 700 | |
| Exchange: | NASDAQ-National Market | Miami, FL 33122 | |
| Industry: | Transportation (SIC Code 4522) | (305) 871-6606 | |
| Type of Shares: | Common Shares | Filing Date: | 6/5/97 | |
| U.S. Shares Filed: | 8,500,000 | Filing Range: | $13.00 - $15.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $119,000,000 | |
| Primary Shares: | 7,400,000 | Expenses: | $800,000 | |
| Secondary Shares: | 1,100,000 | Shares Out After: | 21,410,714 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 895-2700 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Dillon, Read & Co. Inc. | Co-manager | (212) 906-7523 |
| Issuer's Law Firm: | Greenberg Traurig Hoffman Lipoff Rosen & Quentel |
| Bank's Law Firm: | Piper & Marbury |
| Auditor: | Coopers & Lybrand |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $94.25 | $25.93 | $18.92 | Assets: | $65.34 |
| Net Income: | $8.06 | $1.98 | $0.91 | Curr Assets: | $25.56 |
| EPS: | $0.36 | $0.09 | $0.04 | Liabilities: | $17.55 |
| Prior EPS: | $0.32 | $4.18 | $10.12 | Curr Liabilities: | $9.40 |
| Cash Flow/Oper: | $14.82 | -$2.10 | -$2.53 | Equity: | $47.79 |
| Cash Flow/Fin: | -$2.40 | -$4.16 | -$1.46 | Cash: | $4.83 |
| Cash Flow/Inv: | -$11.89 | -$4.16 | Working Cap: | $16.16 | |
| Business Description |
| The company is a leading provider of air cargo services between the United States and South and Central America and the Caribbean. Since 1994, the company has been the largest international air cargo serving Miami International Airport, based on tons of cargo transported to and from that airport. MIA is the largest international cargo airport in the United States and the third largest international cargo airport in the world. The company's services include: 1) integrated air and truck cargo transportation and other logistics services; 2) long-term and short-term ACMI (aircraft, crew, maintenance and insurance) services and AD HOC charters; and 3) third party aircraft and engine maintenance, repairs and overhauls, training and other services. The company's scheduled cargo services provide seamless transportation through its MIA hub linking North America, Europe, Asia and the Pacific Rim with 29 South and Central America and Caribbean cities. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to acquire additional aircraft, hushkit the company's existing aircraft, repay debt and for working capital and other general corporate purposes. |