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OzarkD9S
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Indy For Sale?

Sat Feb 26, 2005 3:12 am

http://www.marketwatch.com/news/yhoo...8F%2D441B%2DAF16%2DE11C9C05D6D1%7D

Looks like a major shareholder is pushing for a sale/merger. Would AirTran or Frontier be interested? I can't see JetBlue or Southwest, and no one else has any cash for such a venture.
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tockeyhockey
Posts: 880
Joined: Fri Feb 04, 2005 10:57 pm

RE: Indy For Sale?

Sat Feb 26, 2005 3:15 am

dude, you've got to put excerpts from the article in your post. i'm too lazy to click on a link.
 
jetblueatjfk
Posts: 1556
Joined: Sun Jan 02, 2005 4:42 am

RE: Indy For Sale?

Sat Feb 26, 2005 3:24 am

"In a letter Friday to FLYi Chairman Kerry Skeen, East Texas Capital Partners LLC urged the executive to hire a financial adviser to help sell the fledgling Dulles, Va.-based company...
...it is [our] desire that you quickly find a merger partner that can assist you in better utilizing the assets you manage and maximizing the return for your shareholders...
...East Texas Capital said regional carriers, such as SkyWest (SKYW: news, chart, profile) or Republic Airways (RJET: news, chart, profile) , might be interested in buying FLYi..."

That is the main parts but the other parts you still might want to catch up on.

I think Skywest would be a good airline to buy Independence.

jetBlueAtJFK
 
DAYflyer
Posts: 3546
Joined: Wed Sep 08, 2004 9:35 pm

RE: Indy For Sale?

Sat Feb 26, 2005 3:44 am

Airtran? No way. Headed in a different direction altogether. Although anything is possible I guess if the price is right.
One Nation Under God
 
qwerty
Posts: 382
Joined: Sat Mar 17, 2001 7:31 am

RE: Indy For Sale?

Sat Feb 26, 2005 3:49 am

If you guy(al)s follow this company, you know there are a couple of hedge funds and private investment vehicles who own a large chunks of the stock.

ALL HAVE BEEN telling Skeen different things to do. Some of them I agree with, some I do not. Because Indy is public, this is the way it should work. But Indy has no requrement, but to act like they are listening.
 
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OzarkD9S
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RE: Indy For Sale?

Sat Feb 26, 2005 3:51 am

I agree AirTran is a longshot...and Frontier is too cautious to be interested. But the temptation of an instant presence at IAD might be hard to pass up. Especially with UA on the ropes and the rollercoaster ride at US over at DCA.
Next up: STL-CVG-MKE-MSP-STL.
 
flyibaby
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RE: Indy For Sale?

Sat Feb 26, 2005 3:55 am

Qwerty

I have heard the same rumors about the hedgefunds and such but when I pull the SEC reports, I don't show who in particular owns them. Would you happen to know? If you want, you can email me here with the info if you don't want to post. Thanks.  Smile
 
qwerty
Posts: 382
Joined: Sat Mar 17, 2001 7:31 am

RE: Indy For Sale?

Sat Feb 26, 2005 3:57 am

The problem with anyone buying Indy is the problem of the CRJs. You'd end up with planes that even Indy doesn't want. Why would Airtran want them. Frontier might be interested in the 12 Airbuses (by summer), but Indy has more than 70 CRJs today.

It would seem to make more sense that someone foreign, who wants the Air Certificate, to be the buyer. Not FRNT or AAI. 2nd place makes sense is one of the regionals like Skywest, Cha..., etc.
 
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mariner
Posts: 18413
Joined: Fri Nov 23, 2001 7:29 am

RE: Indy For Sale?

Sat Feb 26, 2005 3:59 am

AirTran? Incompatible fleets, they wouldn't want the RJ's and they prefer DCA.

Frontier? IAD/DEN didn't work for them, they just dropped it it. And they wouldn't want those RJ's.

Mesa might want the RJ's - but it is only a "might". The 50 seat RJ's are not the darling of the industry anymore.

And I can't think of any airline that would want to take on Iair's precarious finances.

cheers

mariner
aeternum nauta
 
quickmover
Posts: 2142
Joined: Sat Mar 06, 2004 4:28 am

RE: Indy For Sale?

Sat Feb 26, 2005 4:03 am

What exactly would you get in a merger? Most carriers are now going away from the 50 seaters to 70 seaters or larger because of economics. I think most of the fleet is leased and the rates probably are not the best. An all Boeing operator wouldn't want the 319s that are probably leased too. IAD would probably be the crown jewel, but I believe most of their gates are non jetway which wouldn't have much appeal for a mainline operator. Probably the best merger candidate would be Mesa. They tried once before.
 
qwerty
Posts: 382
Joined: Sat Mar 17, 2001 7:31 am

RE: Indy For Sale?

Sat Feb 26, 2005 4:04 am

flyibaby,

Any >%5 holder should be filing their ownership, especially to be legally O.K. if they have intentions of doing something other than just being a shareholder. SEC's Edgar database will indeed have those filings, and they will be tied to FLYI.

Quoting Flyibaby (reply 6):
I don't show who in particular owns them.


Not sure what you mean here, but if you mean who (what individual) owns the hedgefund/money manager?
 
AirplanePeanut
Posts: 407
Joined: Mon Mar 08, 2004 12:00 am

RE: Indy For Sale?

Sat Feb 26, 2005 5:05 am

Someone that has fleet commontality

Fronteir-A319
VirginAmerica-A320

I know VA hasnt started service=, but its a possibiltity.
..
 
flyibaby
Posts: 718
Joined: Wed Aug 25, 2004 5:23 am

RE: Indy For Sale?

Sat Feb 26, 2005 4:01 pm

Qwerty

Nail on the head..thanks. I keep hearing this, but I couldn't figure out where to locate the information. Yes, I couldn't find what specific hedgefund(s) were buying.
 
voodoo
Posts: 1959
Joined: Mon Mar 19, 2001 12:14 am

RE: Indy For Sale?

Sat Feb 26, 2005 8:15 pm

Point of info:
AFAIK, Virgin America's A320 fleet has CFM engines planned. Indy's 319s have V2500s. Tho mixed engines are not a hinderance to all e.g.Lufthansa.
` Yeaah! Baade 152! Trabi of the Sky! '
 
UnitedTristar
Posts: 842
Joined: Fri May 21, 2004 6:45 am

RE: Indy For Sale?

Sun Feb 27, 2005 1:43 am

Hummmm...

Am I the only one who thinks that ZW would be good to buy them? It would have several benefits

1. They would gain the CRJ's needed for a US Express operation (that's counting that they would use their current ones for a continued UA operation)

2. They would kill a UA competitor in IAD allowing those fares to return to a normal level again assuring continued increase in health for one of their major partners

3. They would gain some airbus's that they could turn and lease to US to continue to support their monetary interest (of course they would be subleases depending on the terms and the equipment and commonality) or they can simply pull a TW/AA and buy the assets and leave the ones they don't want for the shell of the former company to deal with (i.e reject their leases through the inevitable bankruptcy chapter 7 process)

Interesting indeed!

-m

 Big thumbs up
 
Byrdluvs747
Posts: 2387
Joined: Thu Jul 15, 2004 5:25 am

RE: Indy For Sale?

Sun Feb 27, 2005 2:05 am

HP?

The RJ's shouldn't be an issue since they can be used in the Mesa fleet. The 319's would also make a good fit if the engines matched.
The 747: The hands who designed it were guided by god.
 
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OzarkD9S
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Joined: Tue Oct 23, 2001 2:31 am

RE: Indy For Sale?

Sun Feb 27, 2005 2:28 am

HP never crossed my mind, given the distance of IAD from thier core system. Would be an interesting combination, and they would definately need a focus city between IAD and PHX/LAS to tie the systems together. Might actually work if done correctly.
Next up: STL-CVG-MKE-MSP-STL.

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