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May 03, 2015 3:02 PM ET

Transportation Infrastructure

Company Overview of Air Serv Corporation

Company Overview

Air Serv Corporation provides solutions for the aviation industry. It offers cargo services that include cargo acceptance and handling, and the U.S. mail handling/sorting; cabin cleaning and janitorial services; ground transportation services, such as remote parking lot shuttles, crew transport, employee shuttle, and fixed route services; and passenger services, including wheelchair, baggage handling, skycap, unaccompanied minor, document verification, and electric cart driver support services. The company also provides aviation security services that include access control and loss prevention, perimeter and aircraft guarding, cargo screening, pre-departure screening, ticket verification, an...

3399 Peachtree Road North East

Suite 1500

Atlanta, GA 30326

United States

Founded in 2001

Phone:

404-926-4200

Fax:

404-267-2230

Key Executives for Air Serv Corporation

Chief Executive Officer and Director
Age: 63
Founder and Chairman
Age: 66
Founder and Executive Assistant to the Chairman
Chief Financial Officer
Chief Operating Officer and Director
Age: 56
Compensation as of Fiscal Year 2014.

Air Serv Corporation Key Developments

Air Serv Announces Unaudited Earnings Results for the Second Quarter Ended April 30, 2014

Air Serv announced unaudited earnings results for the second quarter ended April 30, 2014. For the quarter, the company reported revenue of $85.2 million, up $9.1 million or 12% compared to the second quarter of fiscal 2013. The Blackjack acquisition contributed revenue of $4.6 million. Organic revenue growth was 5.9% with the weaker start of the shuttle operations of Heathrow Airport. The company is now positioned to achieve top line organic growth in high single digits for the remainder of fiscal 2014. Operating profit was $2.4 million was essentially flat for the quarter, as the company had $900,000 of cost associated with significant new jobs on a year-over-year basis.

Attorney General Eric T. Schneiderman Announces $20,000 Settlement with Air Serv Corporation

Attorney General Eric T. Schneiderman announced a settlement of almost $20,000 with Air Serv Corporation, a commercial airline industry contractor operating at John F. Kennedy International Airport and LaGuardia Airport in New York City, for underpaying nearly 300 minimum wage wheelchair attendants. The bulk of the settlement funds, nearly $16,000, will be distributed to the attendants whose wages were not increased by the company when the state's minimum wage rose to $8 an hour, from $7.25 an hour, on December 31. Under the agreement, Air Serv must pay $4,000 in penalties to New York State. Instead of raising the attendants' wages, the company unilaterally reclassified the workers as tipped employees. At the same time, the company, which is headquartered in Georgia and operates at airports across the nation, failed to comply with New York State's requirements that allow for the lower tipped wage. The assistants, who are hired to help airline passengers needing wheelchair assistance, were underpaid from December 31 until the end of March. On December 30, the day before the minimum wage increased by 75 cents, the company advised the wheelchair attendants of an immediate change of policy whereby they would be considered tipped employees and, for that reason, would continue receiving $7.25 per hour and not the higher minimum wage. Although state law allows employers to pay tipped employees a lower rate defined by law, employers may only do so when employees' weekly average tips reach a certain set threshold amount that varies by industry; for wheelchair attendants, that amount is $1.20 per hour. If employees do not receive a weekly average of $1.20 per hour, the employer may not reduce wages by the tip allowance and must pay the full minimum wage. In addition to payment of restitution funds and penalties, Air Serv will designate a compliance officer responsible for ensuring the proper use of the tip credit. For 18 months, this compliance officer will furnish the Attorney General's Office with quarterly reports for any quarter during which a tip allowance is taken in order to ensure that tip credits are taken only when permitted by law.

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