Aer Lingus
Topic Author
Posts: 1217
Joined: Sun May 14, 2000 4:06 am

Transaer Gone Bust

Sat Oct 21, 2000 2:17 am

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
 
Guest

RE: Transaer Gone Bust

Sat Oct 21, 2000 3:09 am

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.
 
dstc47
Posts: 1264
Joined: Thu Sep 16, 1999 3:53 am

RE: Transaer Gone Bust

Sat Oct 21, 2000 3:13 am

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 .
 
gkirk
Posts: 23347
Joined: Thu Jun 15, 2000 3:29 am

RE: Transaer Gone Bust

Sat Oct 21, 2000 4:11 am

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!
 
philb
Posts: 2645
Joined: Mon May 24, 1999 5:53 am

RE: Transaer Gone Bust

Sat Oct 21, 2000 6:20 am

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.
 
Guest

RE: Transaer Gone Bust

Sat Oct 21, 2000 6:25 am

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?