ELMIRA, N.Y. & CORNING, N.Y., Mar 06, 2009 (BUSINESS WIRE) -- FirstFlight, Inc. announced today that it has divested its Airborne subsidiary through a Share Exchange Agreement dated March 2, 2009 with Airborne's former owners, John and Daphne Dow. Airborne, FirstFlight's former charter segment, will now operate independently. FirstFlight will maintain the company's fixed base (FBO) and heliport operations. Additionally, Ronald Ricciardi, Vice Chairman of FirstFlight, will assume the position of President and Chief Executive Officer, offices he had previously held. Mr. Dow, the former president and chief executive officer and a director of FirstFlight, has resigned from all positions he held at FirstFlight in order to focus his attention on Airborne.
