Search found 229 matches

by 3AWM
Mon Oct 19, 2020 5:39 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

I have seen the BBC article where they say they bought the web address but elsewhere it says they bought all or the IP, stock and equipment. I think what they actually bought was the entire website and booking engine, which is actually quite expensive to build a new one from scratch. Owning a load o...

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by 3AWM
Wed Aug 05, 2020 11:27 am
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Updated: Virgin Atlantic seeks restructuring; files for BK in US Court

UK insolvency law was changed as a part of the UK gov response to coronavirus and it supposedly now allows easier re-organisation of insolvent companies. It was reported a month or so ago that Virgin would be the first company to take advantage of the new legislation. The difference as I understand ...

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by 3AWM
Wed Jul 15, 2020 2:05 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic secures rescue package

I don’t think this is a rescue package I think it’s a transitional arrangement. I think the funding only guarantees the refunds that VS will have to make for tickets in the next few months when itineraries cannot be fulfilled. The statement about the fleet is also suitably vague; “The airline will o...

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by 3AWM
Wed May 13, 2020 11:43 am
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

Yes you are right I am saying what it doesn't say. It doesn't say that direct flying will continue from regional airports, only that connections will be offered. Only time will tell what happens but I think it would be crazy to rule it out. I can't see how they would consolidate London ops but still...

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by 3AWM
Wed May 13, 2020 8:35 am
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

The press release is below. Seems pretty clear from this that VS are (or at least intend to if they are around) intending to fly direct to New York, Atlanta, Orlando, Los Angeles and Barbados from Manchester, and Orlando from Belfast and Glasgow. Leaving frequency and aircraft type aside, the major...

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by 3AWM
Wed May 13, 2020 7:33 am
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

The thing about these destinations is they are already sold in the network and many are probably literally already sold. Within the terms of carriage they can change the routing without having to offer a refund. For many holiday PAX they may not want to travel but the cancellation terms may not be t...

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by 3AWM
Wed May 13, 2020 7:12 am
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

I think releasing this schedule is somewhat of a PR exercise and maybe more for investors than for customers. What's the chances that flights from GLA/BFS and MAN are all for hub through LHR intially? There is going to be a lot of spare capacity. RE: BA in a lot of ways their conundrum is more comp...

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by 3AWM
Tue May 12, 2020 7:48 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

I think releasing this schedule is somewhat of a PR exercise and maybe more for investors than for customers. What's the chances that flights from GLA/BFS and MAN are all for hub through LHR intially? There is going to be a lot of spare capacity. RE: BA in a lot of ways their conundrum is more compl...

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by 3AWM
Mon May 11, 2020 1:30 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

No VAT on flights but they collect APD for the government.

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by 3AWM
Tue May 05, 2020 7:27 am
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

CP1?

CP2 VS
CP7 Stobart
Not so far from the original announcement, routes at LHR for VS and a regional airline for Stobart.

Non-EU resident individual with experience of running an airline. Not sure but he probably has a beard.

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by 3AWM
Mon May 04, 2020 7:42 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

Been redacted for confidentiality but - Doesn't take much imagination to work out who CP7 who wanted 21 routes and owned aircraft were, nor CP2 who wanted 5 aircraft and selected routes, but are having a bit of trouble with their own airline at the moment. Neither should it be difficult to work out ...

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by 3AWM
Wed Apr 29, 2020 5:24 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

VS definitely have too many types. But fleet decisions take a long time to play out. If they are looking to re-structure now through administration they could lose the 747s and the 787 and have a fleet of just A330/A350 which would have benefits.

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by 3AWM
Tue Apr 28, 2020 1:05 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

Wizz Air has qualified for and taken a £300million credit facility from the UK Government. https://www.headforpoints.com/2020/04/28/wizz-air-gets-a-300-million-uk-government-bailout/ According to the link posted above credit has been denied because VS doesn't have tradeable debt and therefore does ...

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by 3AWM
Sun Apr 26, 2020 5:41 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

FYI a pre-pack administration is where the owners of an existing business buy selected assets from a failing business leave and certain liabilities behind. It's basically an overnight thing with the structure already agreed before the company goes into administration and the new trading entity able ...

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by 3AWM
Sun Apr 26, 2020 4:24 pm
Forum: Civil Aviation
Topic: Ryanair Threatens EU Over State Aid to Airlines
Replies: 342
Views: 30314

Re: Ryanair Threatens EU Over State Aid to Airlines

MOL has to be right that these bailouts are illegal subsidies. Arguments that about whether a carrier is a "flag" carrier, where it is registered, whether it is deemed to be a "good citizen" or even if it has broken the same rules itself in the past will not have any legal preced...

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by 3AWM
Sun Apr 26, 2020 1:13 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

For BA buying VS would be the dumbest thing ever. All they would acquire would be the obligation to pay leases on 40 aircraft.

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by 3AWM
Sun Apr 26, 2020 12:51 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

TBH right now is the ideal time to go into administration. It can be done without any tangible impact on ticket sales or disruption of service. Most crew salaries will also be covered by the furlough scheme in the short term. Consumers may not even notice it happens. The only value in Virgin the cor...

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by 3AWM
Sun Apr 26, 2020 11:23 am
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

Over recent years Virgin Atlantic has made money for it's shareholders but not profit to the Ltd co. SRB has made money through royalty on ticket sales which has probably gone to a BVI holding co. Delta have made profits through ticket sales on it's flights. Under normal circumstances this would con...

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by 3AWM
Wed Apr 22, 2020 8:39 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

Yes they can. In my experience it's quite common for airlines to have some locally based crew members. They could also have crew bases in the US where the flghts originate from.

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by 3AWM
Wed Apr 22, 2020 8:29 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

VS11 wrote:

That's very creative but it won't be able to hire the current British crew members, and in a way it is a big deal.


a) why not?
b) why would that matter to Delta buying Virgin's assets out of administration?

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by 3AWM
Wed Apr 22, 2020 8:01 pm
Forum: Civil Aviation
Topic: Updated: Virgin Atlantic creditors aprove restructuring; (files for BK in US Court)
Replies: 1517
Views: 185388

Re: Virgin Atlantic needs government support?

In the video he is very deliberate in the way he says they need the Virgin brand (rather than saying Virgin Atlantic). This is really correct as they do need the Virgin brand and it's assets like the FFer comminity to sell tickets to the UK market. There is no need for Virgin Atlantic to be a Britis...

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by 3AWM
Mon Mar 09, 2020 5:41 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

The document is filed on the ACL website as "Remedy Slot Returns. 12 daily flights". And it requests a change of flight times for each of the destinations to take a late night slot at 23.00 in exchange for another BA time slot. There is a transfer back to BA but it's in exchange for anoth...

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by 3AWM
Mon Mar 09, 2020 5:19 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

The Flybe slots have been returned to BA: https://twitter.com/SeanM1997/status/1236979466599096321?s=20 This document appears to show a request to change the timing of operation of the slots but I don't see anything about the return of slots to BA. It's also dated on the last day of ops for Flybe -...

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by 3AWM
Mon Mar 09, 2020 2:08 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

There is 80% slack in the frequencies over the course of the year in order to retain slots, they don't need to cancel any routes just serve them less frequently. I would expect some reduction in capacity due coronavirus to produce the spare frames to operate these routes.

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by 3AWM
Mon Mar 09, 2020 1:41 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

I would imagine the slack can come from reduction of other routes which will easily produce enough capacity to fill these slots.

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by 3AWM
Mon Mar 09, 2020 12:06 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

There was value in Flybe but the losers were/will not be the shareholders. The creditors and lessors will lose out because loans to Cyrus (probably) will be secured and settled first, after HM Gov Shareholders are bottom of the pile when a company goes bankrupt and would have got nothing last year ...

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by 3AWM
Mon Mar 09, 2020 12:06 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

There was value in Flybe but the losers were/will not be the shareholders. The creditors and lessors will lose out because loans to Cyrus (probably) will be secured and settled first, after HM Gov Shareholders are bottom of the pile when a company goes bankrupt and would have got nothing last year e...

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by 3AWM
Sun Mar 08, 2020 3:53 pm
Forum: Civil Aviation
Topic: Rumour: Virgin Atlantic to announce W20 schedule with new routes
Replies: 193
Views: 38121

Re: Virgin Atlantic's Expansion Options

Ability to issue tickets on its flights, that won’t be needed for Virgin Connect flights carrying the VS code no matter who operates the flight. -FlyBE had a great brand awareness and network but it didn’t fit a purpose within VS network. First and prime objective of a regional is to feed the mainl...

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by 3AWM
Sun Mar 08, 2020 10:55 am
Forum: Civil Aviation
Topic: Air New Zealand Sells London Heathrow Airport Slot For $27 Million
Replies: 105
Views: 18758

Re: Air New Zealand Sells London Heathrow Airport Slot For $27 Million

What about AMS slots? I seem to remember something about having the rights to operate those based on a previous codeshare.

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by 3AWM
Sat Mar 07, 2020 11:51 am
Forum: Civil Aviation
Topic: Rumour: Virgin Atlantic to announce W20 schedule with new routes
Replies: 193
Views: 38121

Re: Rumour: Virgin Atlantic to announce W20 schedule with new routes

You could certainly say that this was squarely aimed at LHR slots, but if you compare the price paid for the ANZ slot pair with the FlyBe cash burn I suspect there is little in it. I think VS will continue to explore purchasing slots on an incremental basis (I don’t know if they purchased these) to...

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by 3AWM
Fri Mar 06, 2020 3:50 pm
Forum: Civil Aviation
Topic: Rumour: Virgin Atlantic to announce W20 schedule with new routes
Replies: 193
Views: 38121

Re: Rumour: Virgin Atlantic to announce W20 schedule with new routes

The only benefit I can see of buying Flybe as a going concern was to get access to "shovel ready" slots for route expansion at LHR. Everything else, including hubbing at MAN could be achieved a lot easier and cheaper by taking bits of Flybe through the administration process. Even if the s...

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by 3AWM
Fri Mar 06, 2020 12:15 pm
Forum: Civil Aviation
Topic: Rumour: Virgin Atlantic to announce W20 schedule with new routes
Replies: 193
Views: 38121

Re: Virgin Atlantic's Expansion Options

For me the most obvious choice is pick up a handful of the glut of Dash8s that will appear on the market at good lease terms, apply for the slots at ABZ and EDI themselves, operate them for 3 years, transfer to other euro routes and re-apply. No need to take on the Flybe's additional baggage.

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by 3AWM
Thu Mar 05, 2020 4:07 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration

In terms of the LHR slots Flybe need to have served them until the end of the IATA season 25th March so on that basis they would go back to BA. There is also some other stuff in the published document about a 30 day grace period if the operator fails to meet the operating terms (giving them 30 days ...

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by 3AWM
Sat Feb 29, 2020 4:40 pm
Forum: Civil Aviation
Topic: Airasia X (D7) in trouble - looking to return 5 leased aircraft early, sell 2 aircraft to raise cash
Replies: 118
Views: 17925

Re: Airasia X (D7) in trouble - looking to return 5 leased aircraft early, sell 2 aircraft to raise cash

I think the point being made is not the Coronavirus isn't real. It's that it sounds better to say that any cancellation / deferment is down to Coronavirus than to say this order was a bad decision in the first place that only happened because someone's side project got a bung.

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by 3AWM
Sat Feb 29, 2020 11:42 am
Forum: Civil Aviation
Topic: Airasia X (D7) in trouble - looking to return 5 leased aircraft early, sell 2 aircraft to raise cash
Replies: 118
Views: 17925

Re: Air Asia-X Defers A330NEO's

One interesting quote: "We believe advanced aircraft technology has changed business dynamics as we can now fly narrow body aircraft longer ," AirAsia X Malaysia CEO Benyamin Ismail said in a statement. So it seems A321XLR is undermining the A330neo business case. I can see that A321 will...

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by 3AWM
Sat Feb 29, 2020 11:33 am
Forum: Civil Aviation
Topic: Rumour: Virgin Atlantic to announce W20 schedule with new routes
Replies: 193
Views: 38121

Re: Rumour: Virgin Atlantic to announce W20 schedule with new routes

Why choose DEL over BOM? Jet had it's main hub in BOM where as new transfer partner Vistara have a hub at DEL. It's also closer which means less fuel and backtracking via connections. I don't think they are just looking for O&D I think they are looking at servicing whole of India demand from the...

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by 3AWM
Tue Feb 11, 2020 12:55 pm
Forum: Civil Aviation
Topic: Rumour: Virgin Atlantic to announce W20 schedule with new routes
Replies: 193
Views: 38121

Re: Rumour: Virgin Atlantic to announce W20 schedule with new routes

Given this Heathrow wish list was very recently announced I'd be very surprised to see VS announce a route from Heathrow that wasn't on this list. In respect of routes from MAN I think another US route is unlikely before the existing routes go year around daily. I also think any India routes are muc...

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by 3AWM
Sat Feb 08, 2020 10:35 am
Forum: Civil Aviation
Topic: British Airways interested in flying US Domestic Routes
Replies: 159
Views: 21792

Re: British Airways interested in flying US Domestic Routes

US airlines had have full 5th freedom rights from the UL as part of the US/EU open skies for over a decade now. That means they can fly between EU countries with full traffic flights (just not within one country). Note how many 5th freedom routes they actually operate. No US airline is going to wan...

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by 3AWM
Fri Feb 07, 2020 9:26 pm
Forum: Civil Aviation
Topic: British Airways interested in flying US Domestic Routes
Replies: 159
Views: 21792

Re: British Airways interested in flying US Domestic Routes

First of all there’s no reason for the EU to grant rights from the UK to the EU for USA carriers. They already have as after Brexit the UK will be a third country not a member state and treated as an intermediate point in the US-EU openskies agreement. And US carriers don’t want that anyway, rememb...

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by 3AWM
Fri Feb 07, 2020 8:58 pm
Forum: Civil Aviation
Topic: British Airways interested in flying US Domestic Routes
Replies: 159
Views: 21792

Re: British Airways interested in flying US Domestic Routes

Brexit actually weakens UK’s chances of that ever happening. What would the UK offer in return for the US that is near comparable? UK domestic rights lol? After Brexit the UK will become a 3rd country and a comprehensive open skies agreement already exists between the US and EU allowing stops at in...

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by 3AWM
Fri Jan 17, 2020 3:11 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

The existing shareholders lost nothing because that is what Flybe Plc was worth. The ultimate losers will probably be the leaseholders if it goes into administration.

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by 3AWM
Fri Jan 17, 2020 1:47 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

Candid question from Someone who is not Living in the UK. What are the real issue that led Flybe the actual situation ? Is that an issue with the Low yields or load factors on certain routes ? Is there too much ground staff ? Is it an issue with the Q400 ? Does this aircraft is still the best one t...

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by 3AWM
Thu Jan 16, 2020 8:45 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

As long as they don't misuse the slots they can transfer them at the end of the utilisation period. Then their rights to the slots are grandfathered.

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by 3AWM
Thu Jan 16, 2020 12:44 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

Yesterday's article in Anna Aero https://www.anna.aero/2020/01/15/future-flybe-more-virgin-or-stobart/ indicates that revenue has decreased across the board about 25%. It's not about the how much debt was acquired (which would have been known then) it's about how much more it has lost since it was s...

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by 3AWM
Thu Jan 16, 2020 12:11 pm
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

Due to the restrictions of the slots I think they are uniquely of value to Virgin.

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by 3AWM
Thu Jan 16, 2020 11:23 am
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

Flybe has too many planes and too many leases. The longer they trade the more money they lose (and they don't have any money). It needs to go into administration and sell off the profitable bits defaulting on the creditors and leases and shareholders then it can be a viable smaller business. This co...

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by 3AWM
Thu Jan 16, 2020 10:42 am
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

HMRC is No1 preferred creditor in the UK. So if Flybe goes in to administration it's first in line for a distribution of assets. It's also much more of a problem for the government for Flybe to wind up in a disorganised way then be restructured and made smaller. Personally I think that if Virgin wan...

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by 3AWM
Thu Jan 16, 2020 9:44 am
Forum: Civil Aviation
Topic: Flybe News and Discussion Thread Update: Flybe ceases flying, enters administration
Replies: 834
Views: 125031

Re: Flybe News and Discussion Thread

The slots don't have any intrinsic value until March 2020. In order for the previous shareholders to realise this value they would have had to put in sufficient working capital to cover the airline's losses until then. As I understand it Flybe has actually lost more money than anticipated as such th...

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