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What Is The Deal With Belgian Universal  
User currently offlineFLYYUL From Italy, joined Jun 2000, 5027 posts, RR: 51
Posted (12 years 3 months 2 weeks 5 hours ago) and read 4277 times:

Much talk here about Belgian Universal....

But like everything, I have got my doubts given that they say they want to start by April of 2003.

For the Belgian experts here (which I have much valued respect for), what are your thoughts and opinions of the validity of this new airline.
where will they lease the 5 A340-300's?

The latest I heard is that L-Air was to acquire a 49% stake in the airline, and that the initial capital of 10,000,000 Euro's has been attained.

regarding Canada, Sabena left a huge void, and we would welcome any Belgian derivative..


12 replies: All unread, jump to last
User currently offlineYyz717 From Canada, joined Sep 2001, 16438 posts, RR: 55
Reply 1, posted (12 years 3 months 2 weeks 4 hours ago) and read 4261 times:

If you go to the Belgian Universal website, they are surprizingly YYZ-based. Seems like just another wannabe at this point. It's nothing more than a shell right now.

How was your vacation Mark? Are you home now?

Panam, TWA, Ansett, Eastern.......AC next? Might be good for Canada.
User currently offlineFLYYUL From Italy, joined Jun 2000, 5027 posts, RR: 51
Reply 2, posted (12 years 3 months 2 weeks 4 hours ago) and read 4248 times:

Vacation was great... too many TOrontonians for my liking  Big thumbs up

What is Belgian Universal's website?


User currently offlinePothiabs From United States of America, joined May 2001, 114 posts, RR: 0
Reply 3, posted (12 years 3 months 2 weeks 4 hours ago) and read 4220 times:

A shell is all it will ever be.

User currently offlineFLYYUL From Italy, joined Jun 2000, 5027 posts, RR: 51
Reply 4, posted (12 years 3 months 2 weeks 4 hours ago) and read 4211 times:

What makes you think that?

User currently offlineCom3205 From Vatican City, joined Jul 2001, 69 posts, RR: 1
Reply 5, posted (12 years 3 months 2 weeks 4 hours ago) and read 4207 times:

Found this:

On February 13, 2003 L-Air issued a press release announcing that Belgium Universal Airline had entered into an agreement to operate a weekly flight for a Belgian tour operator called VGAA.NV. The flight would travel from Brussels to Los Angeles, with stops in Yeravan, Armenia and Lyon, France.

The Company projected that the flights would generate revenues of $18 million a year, at a rate of $360,000 per week. It said that it had finalized negotiations to lease two Airbus A340-300 airplanes from an unnamed “major manufacturer,” and planned to start flying as soon as it received approval from the Belgian authorities.

Is this consistent with the Company’s commitment to “cost efficiencies?” A typical Airbus A340-300 airplane seats roughly 250 to 300 passengers. A full plane, carrying 300 passengers, would have to charge an average of $1,200 per person in order for the Company to receive $360,000. Of course, the per passenger cost will be even greater since this does not include the tour operator’s profit. As a practical matter, is VGAA.NV likely to fully book a plane each week, at these costs? How much will it cost the Company to operate each flight, lease the planes and purchase fuel? None of these questions are addressed in the February 13th press release.

Plenty of Partners

So far, the Company has not demonstrated any ability to raise sufficient funds to operate its business. It has, however, managed to find the means to promote its latest plans. On February 5th the Company issued a press release announcing that it had retained a company called Geneva Equities Ltd. to develop investor awareness and “contribute to funding, analyzing, structuring, negotiating and financing business acquisitions, joint ventures, alliances and other desirable projects of great value to the Company and its shareholders.”

The press release claimed that the relationship with Geneva Equities would “facilitate” the Company’s ability to raise the financing necessary to finalize its latest acquisition. It did not indicate how this might be accomplished. Nor did it identify any of the individuals involved with Geneva Equities, explain how the Company had developed the relationship, specify how Geneva Equities would be compensated for its services, or say where this new business partner was located. We were unable to find any details about Geneva Equities, although we did learn that a business using that name sought office space in Santa Monica, California in September 2002.

The Company also has referred to its relationship with a Toronto, Canada-based company called Universal Capital Partners (UCP). In its February 11th press release, the Company said that UCP was negotiating the acquisition of Belgium Universal Airline. It also identified UCP as the Company’s single largest shareholder.

That information seems to be at odds with the Company’s previous public disclosures. According to documents filed with the SEC, there were approximately 22.3 million shares of common stock outstanding as of August 31, 2002. Publicly filed documents indicate that the Company’s President, Alex Goldman of Toronto, Canada, is L-Air’s largest shareholder, with 15 million shares. He acquired that stock from his predecessor as president, Robert Rosner, in September 2002.

Stock Patrol readers may remember Robert Rosner as the President, Chairman of the Board, and largest shareholder of Money Club Financial, Inc., another struggling over-the-counter company with grand plans and virtually no cash. See Money Club Financial, Inc. – Money Business or Monkey Business?

And what is Universal Capital Partners? UCP is an investor relations firm located at 130 King Street West, Suite 3670, Toronto, Canada – the same office address and suite occupied by L-Air. UCP, L-Air, and Belgium Universal Airline also share a common telephone number.

UCP’s business, according to information we found on its website, is to help clients increase their profile with brokers, institutional investors, and the general public. In other words, the entity identified as the Company’s largest shareholder is in the promotion business.

The UCP website identifies two of the firm’s clients, one of which is L-Air. It does not, however, indicate that UCP owns L-Air stock. Is Alex Goldman associated with UCP, and if so, in what capacity? The UCP website does not say – and fails to identify who controls or manages that entity.

L-Air may welcome its associations with UCP and Geneva Equities, but the Company says that there are some relationships it wishes to sever. On October 30, 2002, L-Air announced that it had amended its Articles of Incorporation to prohibit its transfer agent from registering common shares in the names of the Depository Trust Company (DTC) or other securities clearing houses. DTC is the world’s largest securities depository, and provides a clearinghouse for the settlement of transactions.

User currently offlineNoise From United States of America, joined Dec 1999, 1968 posts, RR: 4
Reply 6, posted (12 years 3 months 2 weeks 2 hours ago) and read 4173 times:

What's their website?

User currently offlineYyz717 From Canada, joined Sep 2001, 16438 posts, RR: 55
Reply 7, posted (12 years 3 months 2 weeks 1 hour ago) and read 4149 times:


Panam, TWA, Ansett, Eastern.......AC next? Might be good for Canada.
User currently offlineFLYYUL From Italy, joined Jun 2000, 5027 posts, RR: 51
Reply 8, posted (12 years 3 months 2 weeks 1 hour ago) and read 4138 times:

The telephone and e-mail adresses are invalid... this is a scam


User currently offlineCom3205 From Vatican City, joined Jul 2001, 69 posts, RR: 1
Reply 9, posted (12 years 3 months 1 week 6 days 12 hours ago) and read 4079 times:

If at first you don’t succeed, fly, fly again. At least that seems to be the approach adopted by L-Air. On February 11, 2003, the Company announced that it had entered into final negotiations for 49% of Brussels, Belgium-based Belgium Universal Airline. The Company’s press release stated that all necessary steps had been taken to secure an “Air Operating Certificate” from Belgian aviation authorities.

But just what was the Company obtaining? Did Belgium Universal Airline have any assets – other than its name? The press release provided few details, and the Company has yet to file a Form 8-K or audited financial statements relating to the proposed acquisition.

According to the February 11th announcement, the airline would commence operations in April 2003, utilizing management and flight personnel from Belgium’s defunct national airline, Sabena, including a former Sabena pilot identified as Raymond Nicholai. L-Air did not indicate who would own the remaining 51% of the carrier, although it explained that the majority interest would be held by Europeans, in order to comply with existing requirements for European-based airlines.

Plans for the airline appear to be ambitious. According to the February 11th press release, the airline will operate a fleet of five Airbus 340-300 aircraft with First Class, Business Class and Economy sections, serving destinations in Asia, Middle East, Africa, USA, Canada, Caribbean and Europe. The Company claims its planes will have various amenities, including state of the art video and audio systems.

But while creature comfort and amenities are an admirable goal, and diverse routes sound appealing, there is no indication that the Company, or Belgium Universal Airline, presently owns or leases any aircraft – of any configuration. Indeed, we have been unable to find any sign that Belgium Universal Airline is an existing, operating air carrier, operating commercial planes, employing air and ground personnel, or maintaining a presence at any airport terminal.

The Company believes it can establish a niche as a small carrier servicing long-haul routes with low maintenance aircrafts. To support that view, it notes that “commitment to cost efficiencies and customer satisfaction is at the core of its business model, just like JetBlue” and other small regional services. The Company’s Internet site declares that L-Air is “destined to become the ‘JetBlue’ of Europe.”

Still, L-Air has not addressed critical problems that may confront this enterprise – starting with the Company’s lack of capital. As we noted previously, at last report L-Air had no money. Compare that with JetBlue. By the time it went public, Jet Blue was operating 108 flights per day and serving 19 cities. It maintained a fleet of new aircraft, and had raised $175 million in private equity transactions before its $165 million Initial Public Offering.

On the other hand, so far the Company has generated nothing but L’Air.

User currently offlineTca256 From Belgium, joined Dec 1999, 729 posts, RR: 1
Reply 10, posted (12 years 3 months 1 week 6 days 10 hours ago) and read 4054 times:

An other belgian joke...Los Angeles-Lyon-Brussels-Yerevan ?? Why not
adding Rabat and Malaga ? I've just surfed their website and noticed they will offer MP3 player services onboard ! Well, do they have even enough money to have a valid company phone number and email ?  Laugh out loud

All this looks life a short-term fiasco....once again...

User currently offlinePothiabs From United States of America, joined May 2001, 114 posts, RR: 0
Reply 11, posted (12 years 3 months 1 week 6 days 6 hours ago) and read 4013 times:

As I said.....a shell.

If you make BIG announcements, then make sure you've got this backed up with a decent Plan, Calculation, but most of all : with a good understanding of the aviation market and how it will evolve in the next 5 years.

The BUA-team has none of the above, they just long to return to the professional environment they lived in for over 20-30 years.

They should realize that
1. This will never be possible, companies like Sabena are a thing of the past.
2. New Long Haul out of BRU is nearly impossible, and certainly in A340. A BBJ-project would demonstrate more "common sense", because all low-yield is lost forever to the big hubs surrounding Brussels. ( Just look how SLR is struggling with their JNB )
3. They don't have the slightest idea of what "Low cost" means, let alone how to achieve this. There is only one company in Europe that has a true low cost model and structure, and so far any attempt to copy them has failed.
4. Parasites are not cannibals, so instead of joining other parasites, the Nicolaï-team should start looking for a host to live from. Preferably a host that is little intelligent.


User currently offlineMia777 From United States of America, joined Sep 2002, 1165 posts, RR: 5
Reply 12, posted (12 years 3 months 1 week 6 days 5 hours ago) and read 3993 times:

a little off topic...

Com- maybe you have been asked this before but I am curious. Are you really from the Vatican??? And if so, what position do you hold etc...I have never communicated with someone from there before though it could be a joke...sorry if you have been asked this many times...


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