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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 RlfjlkTJHra+r5nrO5sjcA==

<SEC-DOCUMENT>0001179110-08-012308.txt : 20080617
<SEC-HEADER>0001179110-08-012308.hdr.sgml : 20080617
<ACCEPTANCE-DATETIME>20080617125317
ACCESSION NUMBER:		0001179110-08-012308
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080610
FILED AS OF DATE:		20080617
DATE AS OF CHANGE:		20080617

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AIRNET SYSTEMS INC
		CENTRAL INDEX KEY:			0001011696
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				311458309
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3939 INTERNATIONAL GATEWAY
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43219
		BUSINESS PHONE:		6142379777

	MAIL ADDRESS:	
		STREET 1:		3939 INTERNATIONAL GATEWAY
		STREET 2:		3939 INTERNATIONAL GATEWAY
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43219

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GLASSCOCK LARRY M JR
		CENTRAL INDEX KEY:			0001279338

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13025
		FILM NUMBER:		08902579

	MAIL ADDRESS:	
		STREET 1:		3939 INTERNATIONAL GATEWAY
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43219
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-06-10</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001011696</issuerCik>
        <issuerName>AIRNET SYSTEMS INC</issuerName>
        <issuerTradingSymbol>ANS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001279338</rptOwnerCik>
            <rptOwnerName>GLASSCOCK LARRY M JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7250 STAR CHECK DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>COLUMBUS</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>43217</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr. VP, Express Services</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common</value>
            </securityTitle>
            <transactionDate>
                <value>2008-06-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.81</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to the Merger Agreement between AirNet Systems, Inc. (the &quot;Company&quot;), AirNet Holdings, Inc. and AirNet Acquisition, Inc., all of the outstanding shares of the Company's common stock, par value $0.01 per share, converted upon the consummation of the merger to the right to receive $2.81 per share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Larry M. Glasscock, Jr.</signatureName>
        <signatureDate>2008-06-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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