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Transaer Gone Bust  
User currently offlineAer Lingus From Ireland, joined May 2000, 1543 posts, RR: 0
Posted (13 years 6 months 3 days 3 hours ago) and read 1348 times:

Apparently the Irish leasing airline, Transaer has gone bust after a company in the US which they had invested in went bankrupt.
That's all I know at the moment. Does anyone else know more ?

Martin

5 replies: All unread, jump to last
 
User currently offlineCeilidh From , joined Dec 1969, posts, RR:
Reply 1, posted (13 years 6 months 3 days 2 hours ago) and read 1320 times:

The main reason they went bust was that they had overextended themselves financially both with new aircraft and with the Transmeridian investment. At the same time, their income was almost entirely from third world airlines with the cashflow problems that that always entails.

Had they used cheap old aircraft they'd have been fine - they could have afforded to have parked them rather than doing deals at any price - even when it means losing money - as they have been.

Added to which, they were overstaffed.


User currently offlineDstc47 From Ireland, joined Sep 1999, 1447 posts, RR: 3
Reply 2, posted (13 years 6 months 3 days 2 hours ago) and read 1315 times:

Yes company has gone into receivership tonight with some 560 jobs likely to go. According to reports lost heavily on charter ventures in Germany and elsewhere .

User currently offlineGKirk From UK - Scotland, joined Jun 2000, 24814 posts, RR: 56
Reply 3, posted (13 years 6 months 3 days 1 hour ago) and read 1300 times:

Whats going to happen to their A300s and A320s?


When you hear the noise of the Tartan Army Boys, we'll be coming down the road!
User currently offlinePhilB From Ireland, joined May 1999, 2915 posts, RR: 13
Reply 4, posted (13 years 6 months 2 days 23 hours ago) and read 1293 times:

Local information has it that the cumulative effects of the Kosovo war last year and their US investments have caught up with them at a time they were unable to find further financing.

User currently offlineTWAneedsNOhelp From , joined Dec 1969, posts, RR:
Reply 5, posted (13 years 6 months 2 days 23 hours ago) and read 1296 times:

Didn't Air Kosova just sign a lease for an A320 to operate scheduled services from Pristina to western Europe?

Does Lybian Arab Airlines and Cubana still lease A320s?


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