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DOT Denies Ryan Certificate Sale To People Express  
User currently offlineLAXintl From United States of America, joined May 2000, 24312 posts, RR: 47
Posted (2 months 5 days 8 hours ago) and read 5159 times:

Last month we had a thread that the Chapter 7 liquidation trustee for Ryan International Airlines (AJet Holdings) sought to sell Ryan's remaining assets to People Express Airlines ( People Express Seeks To Buy Ryan Air Intl (by LAXintl Jan 16 2014 in Civil Aviation) )

Today the DOT is out with a decision denying the waiver requested to allow for the sale.

DOT in its findings determined that it has no evidence that during its bankruptcy Ryan maintained the necessary personnel, ownership, financial resources, or aircraft, to sustain its FAA operating authority, and without such criteria being met Ryan has lapsed into dormancy.

Moreover, DOT found that simply purchasing Ryan assets would not allow for the imminent resumption of its operations without a full departmental review to determine the carriers fitness, a process which is largely similar to that involving a new applicant.


Order 2014-2-8


So much for that idea...   


From the desert to the sea, to all of Southern California
11 replies: All unread, jump to last
 
User currently offlinesunking737 From United States of America, joined Feb 2005, 2021 posts, RR: 9
Reply 1, posted (2 months 5 days 6 hours ago) and read 4800 times:

Looks more and more that Peoplexpress will not fly. Bad Karma??


Just an MSPAVGEEK
User currently offlineEA CO AS From United States of America, joined Nov 2001, 13254 posts, RR: 62
Reply 2, posted (2 months 5 days 4 hours ago) and read 4457 times:
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Quoting sunking737 (Reply 1):
Looks more and more that Peoplexpress will not fly. Bad Karma??

Bad karma, bad idea, whatever.  



"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan
User currently offlineiFlyLOTs From United States of America, joined Apr 2012, 433 posts, RR: 0
Reply 3, posted (2 months 5 days 4 hours ago) and read 4430 times:

Quoting LAXintl (Thread starter):
So much for that idea...

I know that this was discussed in the other thread but what happened to Xtra and the plan to buy them? Has anyone heard anything from that part of the deal or is that still up in the air?



"...stay hungry, stay foolish" -Steve Jobs
User currently offlineF9Animal From United States of America, joined Dec 2004, 4947 posts, RR: 28
Reply 4, posted (2 months 5 days 2 hours ago) and read 4289 times:

I don't think the Xtra deal went through. Mike Morris the former President of PEX stepped down a few months after the buyout was announced. XTRA has been silent about this as well. I am assuming the attempt to buying Ryan was to get off the ground. People Express wouldn't have needed to buy Ryan if they had Xtra. IIRC, People Express got a short term loan to buy Xtra. Maybe the loan was withdrawn?


I Am A Different Animal!!
User currently offlineDTWPurserBoy From United States of America, joined Feb 2010, 1255 posts, RR: 6
Reply 5, posted (2 months 4 days 12 hours ago) and read 3151 times:

The loan was made by the City of Newport News and was repaid. Xtra announced the other day that their 737-400 aircraft were operating in Chile. I have never thought that PeoplExpress was a viable operation.


Qualified on Concorde/B707/B720/B727/B737/B747/B757/B767/B777/DC-8/DC-9/DC-10/A319/A320/A330/MD-88-90
User currently offlineF9Animal From United States of America, joined Dec 2004, 4947 posts, RR: 28
Reply 6, posted (2 months 4 days 9 hours ago) and read 2070 times:

Just got a email from a member. Apparently the Xtra deal did not go through, which is why People went for Ryan. Also, PEX may make a play for Skyking. Whatever happens, sounds like PEX is still trying to acquire another charter.


I Am A Different Animal!!
User currently offlinesunking737 From United States of America, joined Feb 2005, 2021 posts, RR: 9
Reply 7, posted (2 months 4 days 8 hours ago) and read 2001 times:

Quoting F9Animal (Reply 6):
PEX may make a play for Skyking

Wow, talk about desperation, Skyking has only 2 737-400 left (maybe). I better pop up some more popcorn, this tv series is dragging on......

Why don't they just do an ACMI from someone...Oh wait you need money for that.



Just an MSPAVGEEK
User currently offlineenilria From Canada, joined Feb 2008, 6838 posts, RR: 14
Reply 8, posted (2 months 4 days 7 hours ago) and read 1826 times:

Quoting LAXintl (Thread starter):
Moreover, DOT found that simply purchasing Ryan assets would not allow for the imminent resumption of its operations without a full departmental review to determine the carriers fitness, a process which is largely similar to that involving a new applicant.
Quoting F9Animal (Reply 4):
I don't think the Xtra deal went through.
Quoting F9Animal (Reply 4):
XTRA has been silent about this as well.
Quoting F9Animal (Reply 6):
Apparently the Xtra deal did not go through, which is why People went for Ryan.

How did we not know that? They announced that deal months ago. I wonder if FAA blocked that deal too. I hear the issue with FAA is financial fitness...shocker. Having said that, it needs to be easier to start an airline in this country. Something needs to be done to make it easier before we only have Ameriflot Airlines as our sole carrier.


User currently offlineF9Animal From United States of America, joined Dec 2004, 4947 posts, RR: 28
Reply 9, posted (2 months 4 days 6 hours ago) and read 1786 times:

I had a feeling when Mike Morisi the founder and CEO stepped down in December, that something was not going well. Then they announced layoffs at PEX shortly after. I assumed the Xtra deal had probably fallen through. I think Skyking just just went under too.


I Am A Different Animal!!
User currently offlineDTWPurserBoy From United States of America, joined Feb 2010, 1255 posts, RR: 6
Reply 10, posted (2 months 3 days 14 hours ago) and read 1482 times:

It is like they are casting a wide net hoping to snag someone with a valid operating certificate rather than build from the ground up. Only problem with that is that they are taking years to do it and burning through cash. With Morsi leaving and the layoff of most employees can anyone really see PEX going anywhere? Undercapitalization has killed many a start up.


Qualified on Concorde/B707/B720/B727/B737/B747/B757/B767/B777/DC-8/DC-9/DC-10/A319/A320/A330/MD-88-90
User currently offlineenilria From Canada, joined Feb 2008, 6838 posts, RR: 14
Reply 11, posted (2 months 3 days 12 hours ago) and read 1289 times:

If they never got the Xtra certificate then they are officially DOA. I give them little hope. Sad.

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