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Falcon Air Express Files Ch 11  
User currently offlineLatinAviation From United States of America, joined Nov 2003, 1276 posts, RR: 15
Posted (8 years 3 months 2 weeks 13 hours ago) and read 4234 times:

I haven't seen this posted yet, but Falcon Air Express filed for Ch 11 bankruptcy protection yesterday (5/10/06). They filed in the Southern District of Florida and Judge A Jay Cristol was assigned the case (case #06-11877-BKC-AJC).

Other than filing a motion to reject the leases of most of their 727-200 fleet and the two 737-300s, there was nothing overly insightful in the docket for a first day hearing.

15 replies: All unread, jump to last
 
User currently offlineKarlB737 From United States of America, joined Mar 2004, 3100 posts, RR: 10
Reply 1, posted (8 years 3 months 1 week 6 days 16 hours ago) and read 4044 times:

Courtesy: Palm Beach Post

Miami-Based Falcon Air Express Files For Bankruptcy

http://www.palmbeachpost.com/state/c...cy.html?cxtype=rss&cxsvc=7&cxcat=0


User currently offlineMIAMIx707 From , joined Dec 1969, posts, RR:
Reply 2, posted (8 years 3 months 1 week 6 days 14 hours ago) and read 3979 times:

That's sad for aviation enthusiasts, according to the article, the company will only fly MD-80s now. So no more 727s for them, and they had 12? I thought only two or three since at Miami (where they're based) is rare to see more than one or two at any given time

User currently offlineWjcandee From United States of America, joined Jun 2000, 5152 posts, RR: 22
Reply 3, posted (8 years 3 months 1 week 6 days 4 hours ago) and read 3867 times:

I believe that Judge Cristol oversaw the Arrow Air bankruptcy, and I think they named a plane for him. (It was previously named "Pearl Harbor".) I think it has since been retired.


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Photo © Graham Hitchen



The current Pan Am did the same thing:


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Photo © Scott Lindsell



User currently offlineMasseyBrown From United States of America, joined Dec 2002, 5403 posts, RR: 7
Reply 4, posted (8 years 3 months 1 week 6 days 4 hours ago) and read 3861 times:

Weren't they doing some Bahamas charter flying after Laker went bust? Who will do it now, anybody know?


I love long German words like 'Freundschaftsbezeigungen'.
User currently offline146CREW From United States of America, joined Mar 2004, 211 posts, RR: 0
Reply 5, posted (8 years 3 months 1 week 4 days 13 hours ago) and read 3761 times:

They have returned:

B737-300 N371FA
B727-200's N211DB, N296SC, N54348, N64346, N79749, N78750

They have only retained the MD-82 and MD-83.



Cross check complete.
User currently offlineLuisde8cd From Pitcairn Islands, joined Aug 2004, 2571 posts, RR: 31
Reply 6, posted (8 years 3 months 1 week 4 days 9 hours ago) and read 3691 times:

Quoting 146CREW (Reply 5):

They have only retained the MD-82 and MD-83.

Aren't those the ones wetleased to Aeropostal for its CCS-MIA, MAR-MIA and VLN-MIA routes?

I hope Falcon can find someone to lease those birds to after June when VH is supposed to start flying to MIA with their own Venezuelan-registered MD80s.

Saludos desde Caracas,
Luis


User currently offlineWjcandee From United States of America, joined Jun 2000, 5152 posts, RR: 22
Reply 7, posted (8 years 3 months 1 week 4 days 8 hours ago) and read 3679 times:

I think that the MD80s are probably current-enough aircraft to allow Falcon to bid for some ad-hoc and even track charters that they couldn't competitively-price with the 727s. That's why they are looking to pick up a few more of them.

User currently offlineLuv2fly From United States of America, joined May 2003, 12090 posts, RR: 49
Reply 8, posted (8 years 3 months 1 week 4 days 8 hours ago) and read 3659 times:

Quoting MasseyBrown (Reply 4):
Weren't they doing some Bahamas charter flying after Laker went bust? Who will do it now, anybody know?

Yes they were though the company that was running the Bahamas program has also went bust, well thanks to a storm the property is no longer opened.



You can cut the irony with a knife
User currently offlineVH320 From Venezuela, joined May 2000, 81 posts, RR: 0
Reply 9, posted (8 years 3 months 5 days 18 hours ago) and read 3490 times:

Well, One of the 727s with full Aeropostal colors (N79749) is already in Opa Locka and soon it will be demolished. Pretty sad when I saw it.

I took couple pics last week. I heard the plane arrived there no more than a month ago.

Big version: Width: 400 Height: 267 File size: 104kb
Big version: Width: 500 Height: 328 File size: 179kb


User currently offlineMidway2airtran From United States of America, joined Jul 2003, 864 posts, RR: 2
Reply 10, posted (8 years 3 months 5 days 18 hours ago) and read 3465 times:

Sad to see any aircraft go out, but those a/c have done their service. Falconair used to do some charters out at RDU back in the late 90's and I remember working by those 737-200's and one of the 727's. There were more rivets and patch plates on the fuseloge of those a/c then I have ever seen on any commercial a/c. I wish them luck in their reorganizing and becoming a more productive carrier. Charter service is also starting to become hyper-competitive!

Quoting Wjcandee (Reply 3):
I believe that Judge Cristol oversaw the Arrow Air bankruptcy, and I think they named a plane for him. (It was previously named "Pearl Harbor".) I think it has since been retired.

Intresting tidbit on the naming of a/c for judges seeing over Arrow and Pan Am's bankruptcies. I guess the judges overseeing the current major airline bankruptcies lost their chance for their personalized aircraft by not voiding union contract terms of the various groups.  Wink



"Life is short, but your delay in ATL is not."
User currently offlineLatinAviation From United States of America, joined Nov 2003, 1276 posts, RR: 15
Reply 11, posted (8 years 2 months 3 weeks 1 day 15 hours ago) and read 3269 times:

So this leaves them with only 2 MD-80s left? With Venezuela as Cat 1, I wonder if they'll keep even the wet-lease business from Aeropostal.

User currently offlineF9Animal From United States of America, joined Dec 2004, 5026 posts, RR: 28
Reply 12, posted (8 years 2 months 3 weeks 1 day 6 hours ago) and read 3162 times:

Quoting Midway2airtran (Reply 10):
Intresting tidbit on the naming of a/c for judges seeing over Arrow and Pan Am's bankruptcies. I guess the judges overseeing the current major airline bankruptcies lost their chance for their personalized aircraft by not voiding union contract terms of the various groups. Wink

Am I missing something? Why did they put the judges name on the planes pictured? Is it a way to say thanks? I would love to be a bk judge if I could have my name on the side of a plane!

Heck, I would have my name everywhere.

NW
DL
US
UA
N7
Independence
Midway
PA
Great Plains
Ozark
The list goes on!!!!!


Speaking of bankruptcies. I saw another book coming out soon. Deregulation Knockouts #2!!! A must have!!!!



I Am A Different Animal!!
User currently offlineWjcandee From United States of America, joined Jun 2000, 5152 posts, RR: 22
Reply 13, posted (8 years 2 months 3 weeks 1 day 5 hours ago) and read 3143 times:

Quoting F9Animal (Reply 12):
Am I missing something? Why did they put the judges name on the planes pictured? Is it a way to say thanks?

With respect to Arrow and Pan Am, I believe that the answer is "Yes." Both filed Ch 11 in the Southern District of Florida, and so fell within Judge Cristol's jurisdiction. (Because those other bankruptcies that you mention are filed elsewhere, he wouldn't have an opportunity to hear them.) He was at one point the Chief Bankruptcy Judge down there, and I believe is now either on Senior status or semi-retired.

(Federal judges are appointed for life, and can stay on in "Senior status" with a reduced workload. I actually argued a matter a few years ago before Judge Whitman Knapp up here in New York. He was the head of the famous Knapp Commission which investigated police corruption in New York in 1970, and shook the NYPD to its core. He died just about two years ago at age 95, and so was into his 90s when I appeared before him. He was well-served by an excellent office staff and judicial clerks, one of whom -- a stunning woman -- often actually sat by him on the bench to help keep things organized for him, and he often heard our motions in his conference room rather than in the courtroom. Despite his age, his mind was very sharp and insightful, and while his clerks doubtless worked hard to help make sure that he was well-prepared for our sessions, he cut right right through to the heart of every issue and kindly and graciously made quick rulings and got us back to work. There was no question who was in charge or who was making the decisions. With Judge Knapp as the template, Judge Cristol has a long career still ahead of him!)

Anyway, Judge Cristol is an interesting cat. Here's a congressional citation:

http://www.washingtonwatchdog.org/do...ents/cr/03/se/23/cr23se03-115.html

He's a retired Navy pilot, university professor, lawyer, author of a well-regarded historical book, Angel Flight pilot, and the guy who oversaw both the Pan Am and Arrow bankruptcies.

In 2004, Cristol got Arrow back into the air, with a poem:
"***Arrow Air Emerges Poetically ..... as its reorganization plan has won the approval of Chief U.S. Bankruptcy Judge Emeritus A. Jay Cristol. Under the plan, the nearly 60 year old, MIA based cargo airline will move forward without bankruptcy protection. The airline's emergence from bankruptcy took place in what is considered to be the shortest time for any Int'l air cargo carrier.
Immediately after confirming the plan, Judge Cristol--himself an avid aviator--recited a poem he wrote about the airline's new phase:

"As of today I shot an Arrow into the air. The reorganization plan was very fair. Go fly your birds everywhere. Haul your cargo with a great deal of flare. Keep your planes on the runway & out of the muck. May you continue to operate with the best of luck." "

from http://www.cargolaw.com/z.tcl402.html


User currently offlineF9Animal From United States of America, joined Dec 2004, 5026 posts, RR: 28
Reply 14, posted (8 years 2 months 3 weeks 1 day 4 hours ago) and read 3123 times:

Quoting Wjcandee (Reply 13):
With respect to Arrow and Pan Am, I believe that the answer is "Yes." Both filed Ch 11 in the Southern District of Florida, and so fell within Judge Cristol's jurisdiction. (Because those other bankruptcies that you mention are filed elsewhere, he wouldn't have an opportunity to hear them.) He was at one point the Chief Bankruptcy Judge down there, and I believe is now either on Senior status or semi-retired.

(Federal judges are appointed for life, and can stay on in "Senior status" with a reduced workload. I actually argued a matter a few years ago before Judge Whitman Knapp up here in New York. He was the head of the famous Knapp Commission which investigated police corruption in New York in 1970, and shook the NYPD to its core. He died just about two years ago at age 95, and so was into his 90s when I appeared before him. He was well-served by an excellent office staff and judicial clerks, one of whom -- a stunning woman -- often actually sat by him on the bench to help keep things organized for him, and he often heard our motions in his conference room rather than in the courtroom. Despite his age, his mind was very sharp and insightful, and while his clerks doubtless worked hard to help make sure that he was well-prepared for our sessions, he cut right right through to the heart of every issue and kindly and graciously made quick rulings and got us back to work. There was no question who was in charge or who was making the decisions. With Judge Knapp as the template, Judge Cristol has a long career still ahead of him!)

Anyway, Judge Cristol is an interesting cat. Here's a congressional citation:

Thanks for the information! Sometimes judges are not looked at in a positive manner when it comes to bankruptcy. Very interesting to see such a high level of respect for him and knapp.



I Am A Different Animal!!
User currently offlineFloridaflyboy From United States of America, joined Jun 2006, 2010 posts, RR: 0
Reply 15, posted (8 years 2 months 3 weeks 1 day 4 hours ago) and read 3117 times:

That's too bad. By getting rid of so many aircraft, how many flight crewmembers will they have to furlough?


Good goes around!
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