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AMERICAN INTERNATIONAL AIRWAYS, INC. NAMED TO RANKS OF MICHIGAN'S LARGEST AND FASTEST-GROWING PRIVATE FIRMS

 YPSILANTI, Mich., April 18 /PRNewswire/ -- American International Airways, Inc., founded by drag race champion Conrad A. Kalitta nearly three decades ago, announced it has been named one of the largest private firms in metropolitan Detroit and one of the state's fastest- growing.
 American International Airways (AIA) recently joined the ranks of the Michigan Private 100, a list of the state's 100 quickest-growing privately-held companies. The ranking was based on AIA's 23 percent five-year compound annual rate of revenue growth.
 Based on AIA's unaudited 1993 sales of $209.6 million, the company also recently ranked 35th in Crain's Detroit Business' Top 200 Private Firms in metro Detroit.
 AIA set a record as the highest-revenue company ever to appear in the Michigan Private 100, now in its ninth year. The next highest- revenue company was GMF Robotics, which appeared on the 1987 list with sales from the year before of $186 million.
 "We think it's quite an accomplishment to rank among the state's fastest-growing companies because AIA is 20 to 40 times larger than most of the firms that made the list and, traditionally, small companies grow quicker than big companies," said Kalitta, the company's president and chief executive officer.
 AIA ranked 88th in the Michigan Private 100, which is co-sponsored by the Michigan offices of regional brokerage firm Roney & Co., the Detroit public and financial relations firm of Durocher-Dixson-Werba, Inc., The Detroit News and radio station WWJ.
 AIA provides charter services in the air cargo, passenger and air ambulance sectors worldwide. It also offers scheduled overnight freight service to both domestic and international destinations, and a range of maintenance, overhaul and repair services for aircraft engines, instruments and accessories.
 In 1993, AIA almost doubled its full-time workforce in the five- county metropolitan Detroit region to 874, creating 416 new jobs. The company currently has a total of 1,500 full- and part-time employees, 1,342 of whom work in Michigan.
 Michael F. Maraone, vice president and chief financial officer of AIA, said the company's growth last year occurred across all sectors of its business.
 He said AIA benefited from the industry-wide pick-up in air cargo volume and an increase in its business with the U.S. Postal Service and the U.S. military as well as from the launch of its air cargo express service. The upturn in the domestic auto industry, which generates a significant portion of AIA's business, also contributed to the company's success, he added.
 "But even in the tough times, we maintained our profitability and growth," Maraone said. "We've found ways of improving our position by looking for new services and by being very competitive in our services."
 -0- 4/18/94
 /CONTACT: J.B. Dixson of Durocher-Dixson-Werba, 313-259-9770, for American International Airways/ CO: American International Airways, Inc. ST: Michigan IN: AIR SU:


ML -- DE017 -- 7685 04/18/94 12:25 EDT
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Publication:PR Newswire
Date:Apr 18, 1994
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