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EOS Files For Chapter 11 Will Cease Operations  
User currently offlineUnitedTristar From , joined Dec 1969, posts, RR:
Posted (6 years 4 months 3 weeks 6 days 17 hours ago) and read 17164 times:

http://biz.yahoo.com/bw/080426/20080426005030.html?.v=1

Another one bites the dust!


-m



[Edited 2008-04-26 19:21:44]

77 replies: All unread, showing first 25:
 
User currently offlineRunway23 From US Minor Outlying Islands, joined Jan 2005, 2194 posts, RR: 35
Reply 1, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17173 times:

From their website:

April 26, 2008

To Our Valued Guests,

The relationship we have is very special. You have shown a true appreciation for the commitment and service that defines Eos Class and it has always been our pleasure to deliver Eos Class service to you. The sense of camaraderie and level of engagement we've developed together transcends the traditional airline space.

Our unique relationship makes it all the more difficult to share with you the news that Eos has filed for bankruptcy in the U.S. Bankruptcy Court in the Southern District of New York. On April 26, 2008, we plan to operate Flight 6 (8:30pm) from JFK to STN. On April 27, 2008, we plan to operate Flights 3 (1:00pm) and 7 (6:30pm) from STN to JFK. Flight 5 from STN to JFK and all flights from JFK to STN on April 27, 2008 are canceled. We will cease operations entirely after April 27, 2008.

This announcement is particularly regrettable since we have achieved so much, including having a term sheet in hand for additional financing. Clearly, even in today's challenging economic and credit environment, investors believe in Eos. Unfortunately, some issues arose that prevented the parties from moving forward.

We sincerely apologize to those of you who have travel planned in the days ahead. Eos Guests should seek alternative arrangements for travel and should contact their credit card companies or travel agents directly for information about how to obtain a refund for unused tickets.

For our Club 48 members, unfortunately, in the face of this bankruptcy filing, you will no longer be able to redeem your points for rewards. Any value related to your membership will be determined by the court as part of the bankruptcy process.


User currently offlineEWRCabincrew From United States of America, joined May 2006, 5523 posts, RR: 56
Reply 2, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17132 times:

My hearts go out to their employees.


You can't cure stupid
User currently offlineUnited1 From United States of America, joined Oct 2003, 5957 posts, RR: 9
Reply 3, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17144 times:

Ouch, sorry to here that....EOS was a very impressive carrier. I can only wish the best of luck to all of its employees.


Semper Fi - PowerPoint makes us stupid.
User currently offlineJalapeno From United States of America, joined Sep 2006, 145 posts, RR: 0
Reply 4, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17115 times:

Guess the slogan "UNAIRLINE" is now really true  eyebrow 

User currently offlineCubsrule From United States of America, joined May 2004, 23021 posts, RR: 20
Reply 5, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17118 times:



Quoting Runway23 (Reply 1):
This announcement is particularly regrettable since we have achieved so much, including having a term sheet in hand for additional financing. Clearly, even in today's challenging economic and credit environment, investors believe in Eos. Unfortunately, some issues arose that prevented the parties from moving forward.

?? Weird... it's clearly not a strategic filing (like F9 arguably was) since they're shutting down... something smells fishy

Quoting EWRCabincrew (Reply 2):
My hearts go out to their employees.

 checkmark  checkmark  checkmark 



I can't decide whether I miss the tulip or the bowling shoe more
User currently offlineRunway23 From US Minor Outlying Islands, joined Jan 2005, 2194 posts, RR: 35
Reply 6, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17124 times:

And from this link: http://www.eosairlines.com/Press%20Release%20FINAL.pdf

Jack Williams, Eos’ CEO, said: “After overcoming today’s extremely challenging
economic and credit environment to negotiate terms for a round of financing, it is
regrettable that we were forced to take this action. We had been clear since
closing on our last round of financing that we would need additional capital. As
difficult as it is to raise funds in the current environment, investors believe in our
business model and we were on the verge of success.

“Unfortunately, just as we were working toward closing on an investment that
would have carried us to corporate profitability in 2009, some issues arose that
we could not overcome. It is regrettable that, even though investors continue to
be enthusiastic about our business model, and even though we had a term sheet
in hand, we were unable to close on the financing we needed. That leaves us
with insufficient cash on hand to continue operations.

“There are times in business when even though you execute your business plan
and even though your employees do their jobs beautifully, external forces
prevent you from controlling your own destiny.


User currently offlineVC10DC10 From United States of America, joined Apr 2006, 1036 posts, RR: 3
Reply 7, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17090 times:

At least someone took the time and trouble to write the most touching farewell note I've ever seen from a struggling company. I'm sorry to see this--for Eos's shareholders and other financial stakeholders, its customers, and its employees.

User currently offlineBAKJet From United States of America, joined Nov 2007, 744 posts, RR: 0
Reply 8, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17091 times:

So Silverjet won?

RIP Eos
 tombstone 


User currently offlineHA_DC9 From United States of America, joined Jul 1999, 653 posts, RR: 1
Reply 9, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17096 times:

Sad to see another one go the way of AQ and ATA. Good luck to the employees. So I take it their 6 752s are becoming available very shortly to the highest bidder.

User currently offlineDellatorre From Brazil, joined May 2000, 1088 posts, RR: 2
Reply 10, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 17017 times:



Quoting BAKJet (Reply 8):
So Silverjet won?

RIP Eos

Nope. They're next in line!!!!

You could put Zoom and L'avion there also........ Looks like premium service between US & UK is not that premium for airlines afterall!!! I wonder if BA is giving second thoughts to its Openskies adventure!!!


User currently offlineContinental180 From United States of America, joined Oct 2007, 144 posts, RR: 0
Reply 11, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 16960 times:

not a surprise

all theses private airlines are gonna go as well.


User currently offlineLAXintl From United States of America, joined May 2000, 25392 posts, RR: 49
Reply 12, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 16860 times:

As I had mentioned in a previous post, Eos was within days of shutting down baring the added equity infusion. Suppose the investor that allegedly committed $50mil last week smartly woke up.

Now lets see how long Silverjet manages to hang on -- these premium carriers while cute, are just terrible business ideas that are simply not viable on standalone basis.



From the desert to the sea, to all of Southern California
User currently offlineCommavia From United States of America, joined Apr 2005, 11637 posts, RR: 61
Reply 13, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 16820 times:

I'll bet AA's 767 (now the single only flight on the route, down from as many as 6 less than 6 months ago) is going to be getting a bit fuller in the coming weeks.

User currently offlineN104UA From United States of America, joined Dec 2007, 914 posts, RR: 0
Reply 14, posted (6 years 4 months 3 weeks 6 days 16 hours ago) and read 16666 times:

RIP EOS  tombstone 


"Learn the rules, so you know how to break them properly." -H.H. The Dalai Lama
User currently offlineAlitaliaMD11 From Spain, joined Dec 2003, 4068 posts, RR: 13
Reply 15, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16610 times:

I'm curious if this means British Airways will be rethinking their proposed all business class LCY-JFK flights with A318s as well as their Open Skies plans.


No Vueling No Party
User currently offlineLAxintl From United States of America, joined May 2000, 25392 posts, RR: 49
Reply 16, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16532 times:

No need for BA to rethink anything. Its a very different thing for a major airline to offer a premium product then a stand alone airline. The economics and risk are totally different. BA's LCY operation will do just fine - actually I think LCY is a brilliant idea.

Openskies is a somewhat different concept being multi class, with BA simply dipping their toes in continental flying to the US, its success or failure will be more if BA can establish a market presence and convince people to fly BA directly instead of via LHR or other nonstop carriers in the market.



From the desert to the sea, to all of Southern California
User currently offlineBALHRWWCC From , joined Dec 1969, posts, RR:
Reply 17, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16433 times:



Quoting LAxintl (Reply 16):
Openskies is a somewhat different concept being multi class, with BA simply dipping their toes in continental flying to the US, its success or failure will be more if BA can establish a market presence and convince people to fly BA directly instead of via LHR or other nonstop carriers in the market.

When BA set up openskies it could see the decline heading towards them thats why rather than just club they put in 3 classes. The routes will be marketed at business pax. So suits all Company business travel requirements.

LCY/NYC is just a cash cow. easily will fill the seats lets face it BA can load factor over 85% in J from LON-NYC and with over 800 seats a day that is good going. It will attract business on the route from it's major finance and banking companies who are based in the city. This is also the reason behing the sucess of there current LCY operation.


I am still suprised though. Thought EOS would out live the rest including Silverjet. So maybe Silverjet will come out on top... Or is this the end of business only carriers


User currently offlineNicholaschee From Australia, joined Oct 2005, 661 posts, RR: 0
Reply 18, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16426 times:

2 down. 1 to go. How much longer can Silverjet last?

User currently offlineBALHRWWCC From , joined Dec 1969, posts, RR:
Reply 19, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16391 times:



Quoting Nicholaschee (Reply 18):
2 down. 1 to go. How much longer can Silverjet last?


Think they might suprise you. They may take this as a oman and cut back on US flights and add new routes to SA, India and the far east. Also someone will have to pick up Eos's and Maxjet's pax

Also the weakness of dollar will also have played a part in Eos and Maxjets downfall


User currently offlineSoxfan From United States of America, joined Mar 2008, 865 posts, RR: 0
Reply 20, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16344 times:

Would PrivatAir be considered in the same class of these other carriers in terms of being business-only? I haven't seen much discussion about them in relation to this topic, but I wonder if they are in a different situation financially since they are operating as part of other airlines (including Lufthansa and Swiss) as opposed to independently.


Pilot: "Request push, which way should we face?" JFK Ground: "You better face the front, sir, or you'll scare the pax!"
User currently offline797 From Venezuela, joined Aug 2005, 1894 posts, RR: 27
Reply 21, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16318 times:

Sorry for the word choice, but HOLY SH!T!!!!

That was an unsettling letter, it blew me away... that's really sad, my thoughts with the employees and those gorgeous 757s...

Damn it this economy



Flying isn't dangerous. Crashing is what's dangerous!
User currently offlineLAXintl From United States of America, joined May 2000, 25392 posts, RR: 49
Reply 22, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16249 times:

PrivatAir is a totally different business model. They are an ACMI (aircraft, crew, maintenance, insurance) charter operator basically and are paid per block hour to move an airplane. They dont have comemrcial risk to fill the flight.

PrivatAir financially is actually doing quite well with several planes on order and plenty of customers wanting to charter them.



From the desert to the sea, to all of Southern California
User currently offlinePropilotjw From United States of America, joined Mar 2000, 589 posts, RR: 6
Reply 23, posted (6 years 4 months 3 weeks 6 days 15 hours ago) and read 16249 times:

goodbye Eos and thank you for all the travels I have taken on you. My heart goes out to everyone that worked at Eos as they are an amazing group of people. Good luck and thank you all.

Jeff


User currently offlineHp2us From United States of America, joined Mar 2006, 58 posts, RR: 0
Reply 24, posted (6 years 4 months 3 weeks 6 days 14 hours ago) and read 16119 times:

Alot of my friends actully completed training at Eos yesterday. This is just horrible news...


Giggity
25 ThirteenRight : I cant believe it - how sad and depressing. And they were all so excited - it was a breath of fresh air having them in the office. I hope the STN base
26 Post contains links LHR777 : It's very sad to hear about yet another airline failure. One thing that's standing out as a common factor amongst the recent spate of US airline failu
27 Par13del : I read the article but the experts will have to help me on this one, Chpt. 11 is about attempting to re-organize your debts to continue operation in s
28 Shamrock604 : Best of luck to all at Eos. You did everything right in terms of great service and great product and for that alone, deserved to succeed. Hope you all
29 Connies4ever : Zoom are not a premium service carrier, they are mostly loco, with a small premium cabin up front on their 767s. Not sure if this is available on the
30 AirAmericaC46 : I feel bad such a great airline will soon die. Their staggered arrangement of seats seem a better offer than the herringbone pattern avoiding "excuse
31 N770WD : Both crews and management kept Eos' high standards until the end and for that should be proud. For the past six months there has been a perfect storm
32 Par13del : Thanks much N770WD, appreciate the explanation. Cheers
33 TN757Flyer : Did they not get the 50 mil they announced earlier this week? I know nowadays a carrier can go through it pretty fast, but I was expecting Eos to be
34 AA1818 : Will AA continue the STN service? I suppose if it is very profitable then they will, however, it might have been done simply to stamp out the competi
35 Commavia : Only time will tell, I suppose, but I think it might just make it. From what I've heard, the route has actually done quite well - particularly in the
36 Post contains links NQYGuy : Mmm, on the weekend B747forever filed for complete deletion. http://www.airliners.net/aviation-fo.../profile.main?username=B747forever On a more serio
37 Sleeperseat : I'm so sad to hear that, EOS was a great carrier offering exactly that what some major carrier won't deliver to their fellow customers. SERVICE and GR
38 UAL777UK : I think this will be the beginning of the end for AA at STN. They came and did what they aimed to do and stifle the competition. IMHO, AA never really
39 FlyTUITravel : very strange!!! he was one of the most frequent posters on the site!!!
40 Boeing74741R : Sad to hear that EOS has gone under, and as the song by Queen goes, "Another One Bites The Dust". No. Zoom is a LCC and compete in a different sector
41 Cubsrule : Of course, the Pound hasn't exactly been running circles around the Dollar lately. If they were based in the Euro zone, they'd be far better off.
42 BALHRWWCC : Zoom is different because it doesn't operate a business class cabin. They operate a 767-300 configured with 269Y seats. They offer an economy and pre
43 Connies4ever : Zoom & Zoom UK operate under separate OC's, but are owned by the same group of people (Harry Boyle being the principal IIRC). To my knowledge Zoom in
44 Lightsaber : As does mine. Good luck in this economy. We're in a horrid credit crunch, so once an airline has to go back to borrow more money... they're toast. Th
45 STNDEICER : This is very sad news especially after announcing new routes. Suppose it goes to show that even with good loads, the business product isn't enough
46 STNDEICER : So what happened about this comment from 19.04.08 Jack Williams, Eos President and CEO, added: ‘When we closed on our last round of financing, we we
47 F9Animal : I can only assume that the financing perhaps fell apart, or did not go through? On a side note, this is another loss that is very sad. I send my deep
48 Trintocan : This is very sad news. I just flew into STN today and I noticed 2 EOS 757s parked at a remote ramp. I knew that they flew from STN but had no idea tha
49 Lightsaber : Unfortunately, investors have become less enthusiastic. Lightsaber
50 TN757Flyer : Wasn't this just cut last week to make room for BA's upcoming LGW-JFK flight (though the a/c I beleive will do a LHR flight)? I haven't heard anythin
51 FreequentFlier : I could see Silverjet surviving this being the last of the niche carriers standing flying betwen the US and UK but does anyone know how L'Avion is doi
52 Post contains links B757capt : http://flightaware.com/live/flight/ESS7
53 ABXX75 : Blame Bush!!!!!!!!, He is the reason why the economy in the good Ol' USA is getting lower, All these great airlines that were running was a statement
54 Beeweel15 : Well the goal was achieved. Lets see how long they keep the service now on this route now. Possibly the reason why this deal fell through is that may
55 BALHRWWCC : Yes the MAN/JFK has been cut from the winter 08/09 schedule a little way off yet . Will operate until 25th October. The LGW/JFK will commence operati
56 ThirteenRight : Any news on Open Skies?? When do they start?
57 RussianJet : I really can't believe this, it truly sucks. I thought that they, amongst all the others in the niche, would make it. Always liked seeing them at STN.
58 BALHRWWCC : Meant to be mid June cabin crew are in training however they are awaiting the result of BALPA and BA's court judgement. Regarding the pilots right to
59 LH417AF025 : what are these "issues" that they are not specifying?
60 Gc2 : AA have been building a lounge at STN in sat 2 so I think they will be there for a while yet.
61 AJMIA : I agree. I think AA is going to stick with STN... 1. The route seems to be doing well. 2. It is popular with passengers who want an alternative to LH
62 Cubsrule : ...maybe another JFK flight with a 752, but it seems like there are higher priorities for the 763 that would be required for MIA-STN...
63 AJMIA : If they can't get the slot for MIA-LHR #2 which is badly needed, then I think they may settle for MIA-STN. AJMIA
64 MIAMIx707 : This is ridiculous. So many airlines have ceased ops this year. Besides the slumping economy, the artificially high oil prices rising at a ridiculous
65 Cubsrule : MXP is probably a higher priority than a second London flight.
66 TN757Flyer : Thanks for the FYI. For some reason I thought this was happening sooner. Waiting until summer is over does make sense however.
67 MaverickM11 : True, but without feed on the BRU/CDG/JFK ends it will end up the same way as EOS. Zoom unintentionally is competing with the same sector as EOS/Silv
68 XJETFlyer : More dead wood falling off the Airline Industry Tree!
69 BlueFlyer : In addition to its own and code-share flights to/from BRU and CDG, BA is also hoping to capture some of the traffic off of those regional flights tha
70 A380US : This really is a sad year in aviation
71 EXAAUADL : not so sure..where people flying EOS and MAXJET cuz they went to STN, or cuz of the product? If it is product, AA's JFK-STN flight wont get any fulle
72 Commavia : It was no doubt a mix of people flying for the product, and people flying for Stansted and the Stansted Express to Liverpool St. However, I think tha
73 AirNZ : You are seriously joking, right? As a matter of interest though, how exactly is it Bush's fault? As much as I love aviation, this should have happene
74 CuriousFlyer : Indeed this shows at least that Y class is valuable, and can save an airline... not investing in it, having low quality standards, is looking for tro
75 Post contains links JohnJ : There was an Eos 757 in Hartford last Thursday, arriving from JFK and departing for Punta Cana, no doubt a BDL-PUJ charter. I wondered what would happ
76 Summercrew : The price of oil was less than $35 per barrel when W took office, after blaming the Clinton administration for lacking an energy policy. The question
77 Mmedford : Fyi for anyone, I was just over at JFK... The 757 EOS fleet is being parked in the cargo area, near Fedex & DHL... I'll see if I can head out there ag
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