LAXintl
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People Express Seeks To Buy Ryan Air Intl

Thu Jan 16, 2014 5:03 pm

Here is an odd one...


The Chapter 7 liquidation trustee for Ryan International Airlines (AJet Holdings) has filed notice with the DOT that it has reached a purchase agreement with People Express Airlines for purchase of remaining assets(listed below) of Ryan Intl for $500,000.

1) All stock
2) Company name "Ryan Air International Airlines"
3) Associated goodwill
4) FAA 121 air carrier certificate subject to requirements and restrictions of FAA
5) Leased space at 4949 Harrison Ave, Rockford Ill.
6) Transfer rights to Ryan Intl intellectual property, manuals and materials related to FAA 121 certificate
7) Intellectual rights to company software systems
8) Computer hardware and IT infrastructure in place at time of sale.


Transaction is subject to BK court approval.

OST-2014-0006

=

  
I thought PEX already purchased Xtra Airways. That certificate not good?
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enilria
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RE: People Express Seeks To Buy Ryan Air Intl

Thu Jan 16, 2014 5:08 pm

This is odd. Also, I thought they are completely broke?
 
Flaps
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RE: People Express Seeks To Buy Ryan Air Intl

Thu Jan 16, 2014 5:09 pm

That would seem a bit odd but perhaps they are content with the Xtra ops as they are and want a separate operating certificate for the scheduled work?
 
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Polot
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RE: People Express Seeks To Buy Ryan Air Intl

Thu Jan 16, 2014 5:10 pm

$500,000 seems like a good deal for all that.
 
flyby519
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RE: People Express Seeks To Buy Ryan Air Intl

Thu Jan 16, 2014 5:20 pm

They must have a lot of different aircraft training programs on their certificate, not to mention international ops. Seems like a good deal for 500k
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srbmod
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RE: People Express Seeks To Buy Ryan Air Intl

Thu Jan 16, 2014 8:26 pm

That is odd considering they bought Xtra Airways presumably so they could turn it into PeoplExpress. Ryan Int'l has operated a wide variety of a/c types on their certificate over the years, so maybe this gives PeoplExpress a bit more flexibility when it comes to their fleet. But considering the widebody history of Ryan Int'l, maybe PeoplExpress is also looking into possible international service.
 
Viscount724
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 2:05 am

Quoting LAXintl (Thread starter):
2) Company name "Ryan Air International Airlines"

Wasn't their name "Ryan International Airlines"? Can't recall "Air" being part of their name. Seems a bit redundant with "Airlines". But I see you also have "Ryan Air Intl"" in the thread subject so maybe there's a legal name apart from what they used for marketing purposes?
 
N62NA
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 3:09 am

This new PEOPLExpress saga certainly is interesting!
 
SKC
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 4:35 am

Quoting Viscount724 (Reply 6):
Wasn't their name "Ryan International Airlines

That's correct. The carrier wasn't ever called Ryan Air International Airlines.

Quoting srbmod (Reply 5):
Ryan Int'l has operated a wide variety of a/c types on their certificate over the years

727-100/200
737-200/300/400/800
757
767-200/300
A320/321
A330
DC10-10
MD83

I think that's all of them.
ALL views, opinions expressed are mine ONLY and are NOT representative of those shared by Southwest Airlines Co.
 
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n797mx
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 6:03 am

Quoting SKC (Reply 8):
727-100/200
737-200/300/400/800
757
767-200/300
A320/321
A330
DC10-10
MD83

I think that's all of them.

DC-9-15, MD-87
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Wingtips56
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 6:13 am

What certificates did Xtra have? Maybe PeoplExpress has realized old 734's may not be the best choice?
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dispatchguy
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 8:55 am

I thought Pan Am was going to be a part of the new Ryan....


Strange mess this airline business....
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steeler83
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 1:44 pm

Quoting srbmod (Reply 5):
But considering the widebody history of Ryan Int'l, maybe PeoplExpress is also looking into possible international service.

PHF-LGW?

Quoting N62NA (Reply 7):
This new PEOPLExpress saga certainly is interesting!

You know, in the beginning I was all in favor of wanting this airline to work. With this latest installment of the saga, I'm scratching my head here.

To quote Kevin O'Leary, "You are dead to me. I'm out."
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vatveng
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 9:50 pm

Quoting steeler83 (Reply 12):

PHF-LGW?

Eh, why not? Frontier/Apple is starting PHF-CUN next month.

Okay, so probably not TATL service, but PE may be looking to get in on the Caribbean charter biz. If Apple's weekly CUN service is a success, could PE conceivably bring in Xtra to do some charter flights and finally get off the ground in PHF?
 
steeler83
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 9:57 pm

Quoting vatveng (Reply 13):
Eh, why not? Frontier/Apple is starting PHF-CUN next month.

Okay, so probably not TATL service, but PE may be looking to get in on the Caribbean charter biz. If Apple's weekly CUN service is a success, could PE conceivably bring in Xtra to do some charter flights and finally get off the ground in PHF?

That first route was actually a bit of sarcasm, but ehh... I guess the Caribbean would be a good starting point for int'l service, especially if they want to do charter flights at first. Still, considering this is their second purchase, I am having my doubts about what they want to do...
Do not bring stranger girt into your room. The stranger girt is dangerous, it will hurt your life.
 
bjorn14
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 11:24 pm

Did Ryan have an IATA code? If so, I wonder which one People will use?
"I want to know the voice of God the rest is just details" --A. Einstein
 
srbmod
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 11:47 pm

Quoting bjorn14 (Reply 15):
Did Ryan have an IATA code? If so, I wonder which one People will use?

Their IATA code was/is RD and their ICAO was/is RYN. While the PE code used by the original PeoplExpress is used by three airlines (One in Australia, one in South Africa and one in Switzerland.), they could presumably use it as well since nobody in North America is currently using it and none of the three airlines currently operate into North America.
 
bjorn14
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RE: People Express Seeks To Buy Ryan Air Intl

Fri Jan 17, 2014 11:55 pm

I think they should use Xtra's XP code...bassackwards but hey.
"I want to know the voice of God the rest is just details" --A. Einstein
 
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EA CO AS
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RE: People Express Seeks To Buy Ryan Air Intl

Sat Jan 18, 2014 1:56 am

Quoting Polot (Reply 3):
$500,000 seems like a good deal for all that.

Not if it's the last $500,000 you have to your name.   
"In this present crisis, government is not the solution to our problem - government IS the problem." - Ronald Reagan

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lightsaber
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RE: People Express Seeks To Buy Ryan Air Intl

Sat Jan 18, 2014 12:46 pm

Quoting Polot (Reply 3):

$500,000 seems like a good deal for all that.

How many shares of People express stock are worth $500k? As in the OP post:

Quoting LAXintl (Thread starter):
1) All stock

This is just an attempt to get something for Ryan's certificate.

Now what/when will anything be done with it?

Lightsaber
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ridgid727
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RE: People Express Seeks To Buy Ryan Air Intl

Sat Jan 18, 2014 12:49 pm

Did they actually acquire Xtra? I think Xtra has 737-800's on their certificate as well as the 400. they leae an 800 seasonally I believe. They have been running an operation for someone down in Chile for several months.
 
sunking737
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RE: People Express Seeks To Buy Ryan Air Intl

Sat Jan 18, 2014 1:17 pm

Quoting lightsaber (Reply 19):
How many shares of People express stock are worth $500k?

I believe its all out standing stock in Ryan, complete control in the company.
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B757capt
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RE: People Express Seeks To Buy Ryan Air Intl

Sat Jan 18, 2014 1:22 pm

Quoting bjorn14 (Reply 17):

I think the XP dates back to when Xtra was called Casino Express. Could be wrong though....
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DTWPurserBoy
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RE: People Express Seeks To Buy Ryan Air Intl

Sat Jan 18, 2014 2:03 pm

Quoting N62NA (Reply 7):
This new PEOPLExpress saga certainly is interesting!

That is the understatement of the year! The local newspaper in Newport News, The Daily Press, has virtually stopped printing stories about them. This bunch is a hot mess.
Qualified on Concorde/B707/B720/B727/B737/B747/B757/B767/B777/DC-8/DC-9/DC-10/A319/A320/A330/MD-88-90
 
SKC
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 1:47 am

Quoting n797mx (Reply 9):

Quoting SKC (Reply 8):
727-100/200
737-200/300/400/800
757
767-200/300
A320/321
A330
DC10-10
MD83

I think that's all of them.

DC-9-15, MD-87

I had forgotten about the DC9 since that was before my time there. When did they op the MD-87? I only knew of the -83 (at least during my time there 98-07).
ALL views, opinions expressed are mine ONLY and are NOT representative of those shared by Southwest Airlines Co.
 
Jerseyguy
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 3:19 am

Well they've already tried to capitalize on the People Express name, perhaps they are looking to get press coverage by naming the airline Ryanair America and hoping that O'leary will go nuts and cause a press frenzy getting them some press coverage before they go back to the People Express name
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billreid
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 3:38 am

The Boyd Group went in and tried to right the Ryan International ship. That didn't last too long. Eventually the Boyd President left for greener pastures.

That said Ryan had to turn in the Acft with no cash or business on the horizon. Same issue as Evergreen, no Gov business.

But I thought PEX had given up. Their president MM took a step back in November.
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burchfiel
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 4:29 am

I hope I'm not the only person who thought this was a thread about People Express buying Ryanair!   
 
Jerseyguy
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 4:34 am

Quoting Burchfiel (Reply 27):
I hope I'm not the only person who thought this was a thread about People Express buying Ryanair!

Sorry, I think you were. I personally knew of the North American Airline known of Ryan Air Intl but even if I didn't I would be shocked to find that ANYONE purchased Ryan Air (Europe). A story about Ryan Air buying the new PEX would have been more believable though.
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mariner
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 4:43 am

Quoting billreid (Reply 26):
But I thought PEX had given up. Their president MM took a step back in November.

They're still chirping about a start in 2014:

http://insidebiz.com/news/peoplexpre...ames-ceo-plans-start-takeoffs-2014

"PEOPLExpress names CEO, plans to start takeoffs in 2014

Or they were - because now they're being sued for $159,000 for non-payment of legal fees:

http://legaltimes.typepad.com/blt/20...line-for-159000-in-legal-fees.html

"Hogan Lovells is suing People Express Airlines Inc. for nearly $160,000 in legal fees the firm claims it's owed."

mariner
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n797mx
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 6:10 am

Quoting SKC (Reply 24):

I had forgotten about the DC9 since that was before my time there. When did they op the MD-87? I only knew of the -83 (at least during my time there 98-07).

I don't know it it was ever in service, but their are two photos of it in the database.

http://www.airliners.net/search/phot...gsearch=N167AS&distinct_entry=true
Clear skies and strong tail winds.
 
PHX787
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 1:22 pm

Quoting LAXintl (Thread starter):
4) FAA 121 air carrier certificate subject to requirements and restrictions of FAA

Oh hot damn!
That's ONE way to bypass all of those funky FAA requirements, but it seems still to restrict PEX to charters, right?
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bjorn14
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 1:58 pm

PHX787, Ryan had a 121 certificate so they can schedule. Not sure about the Xtra cert.
"I want to know the voice of God the rest is just details" --A. Einstein
 
srbmod
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 3:44 pm

Quoting PHX787 (Reply 31):
Oh hot damn!
That's ONE way to bypass all of those funky FAA requirements, but it seems still to restrict PEX to charters, right?
Quoting bjorn14 (Reply 32):
PHX787, Ryan had a 121 certificate so they can schedule. Not sure about the Xtra cert.

Buying XP was their way to bypass the FAA and DoT regulations regarding the oversight of new entrants, as Xtra Airways has a 121 certificate and can operate scheduled services. Buying Ryan Int'l is still a bit of headscratcher unless there are certain assets they possess that Xtra doesn't that PeoplExpress wants/needs.
 
United727
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RE: People Express Seeks To Buy Ryan Air Intl

Sun Jan 19, 2014 8:16 pm

Quoting n797mx (Reply 30):
had forgotten about the DC9 since that was before my time there. When did they op the MD-87? I only knew of the -83 (at least during my time there 98-07).

I don't know it it was ever in service, but their are two photos of it in the database.

http://www.airliners.net/search/phot...gsearch=N167AS&distinct_entry=true

I can confirm the plane existed and flew a few times. It remains at KRFD in the penalty box awaiting its fate. The plane's engines are timed out and it would require a Heavy Check for a return to regular flight. In addition, this particular frame was gutted after purchase from Austrian Airlines and fitted with a multi-million dollar VIP interior as it sits today. It returned to RFD after reconfiguration and may have flown a couple times later, but it mainly remained on the ground near the current Emery A&P Hanger. It was serviced and run-up monthly up to a few years ago, then ? After the closure of RD, the plane was towed to the far west side of the field where derelict planes are left to die.
 
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DocLightning
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RE: People Express Seeks To Buy Ryan Air Intl

Mon Jan 20, 2014 5:24 am

Quoting LAXintl (Thread starter):
3) Associated goodwill

Can someone explain what this means in this context? I looked it up in an online legal dictionary, but it's not not clicking. If

Quoting Polot (Reply 3):

$500,000 seems like a good deal for all that.

I was gonna say...
-Doc Lightning-

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PHX Flyer
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RE: People Express Seeks To Buy Ryan Air Intl

Mon Jan 20, 2014 5:36 am

Quoting PHX787 (Reply 31):
That's ONE way to bypass all of those funky FAA requirements, but it seems still to restrict PEX to charters, right?

I am no expert in these legal matters, but - correct me if I'm wrong - if an airline ceases operations, wouldn't the FAA immediately suspend the certificate? And if a new owner wants to make use of the certificate, wouldn't the company still have to demonstrate its ablity to run an airline operation? Buying the certificate may help bypass some of the legal hurdles but not all of them. I would assume that's the reason the price appears so cheap.
 
srbmod
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RE: People Express Seeks To Buy Ryan Air Intl

Mon Jan 20, 2014 10:25 am

Quoting PHX Flyer (Reply 36):
I am no expert in these legal matters, but - correct me if I'm wrong - if an airline ceases operations, wouldn't the FAA immediately suspend the certificate? And if a new owner wants to make use of the certificate, wouldn't the company still have to demonstrate its ablity to run an airline operation? Buying the certificate may help bypass some of the legal hurdles but not all of them. I would assume that's the reason the price appears so cheap.

Unless the FAA pulls the operating certificate for some reason which leads to the closure of the airline, an operating certificate is treated as an asset. When the most recent incarnation of Midway went under in 2003, its' assets (including the operating certificate) were bought at auction by Mesa (Presumably so Mesa could start another airline in it, but never did.).
 
LAXintl
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RE: People Express Seeks To Buy Ryan Air Intl

Mon Jan 20, 2014 3:21 pm

I suspect the Ryan ops specs hold something unique in value to PEX that Xtra does not come with.

Though I still think the whole PEX venture is rather murky affair.
From the desert to the sea, to all of Southern California
 
bjorn14
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RE: People Express Seeks To Buy Ryan Air Intl

Mon Jan 20, 2014 4:49 pm

Associated Goodwill is essentially whatever the brand stood for to its customers, vendors & employees. The few exampl es in the airline industry are PanAm, Braniff & Frontier.
"I want to know the voice of God the rest is just details" --A. Einstein
 
cornutt
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RE: People Express Seeks To Buy Ryan Air Intl

Mon Jan 20, 2014 5:00 pm

Quoting bjorn14 (Reply 39):
Associated Goodwill is essentially whatever the brand stood for to its customers, vendors & employees. The few exampl es in the airline industry are PanAm, Braniff & Frontier.

I'm vaguely aware that there are some funky accounting rules associated with goodwill. I recall that when I worked at Boeing, 7 or 8 years ago, the company at one point had to take about a $800M writeoff because of an accounting rule change having to do with goodwill on, I think it was, the Jeppsen purchase.

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