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Does anyone have any information on European Business Jets based at Cambridge UK ? Type of trips, structure of company, backing, T's & C's etc. Many thanks
You have to wonder about them; no external news in almost a year. Their share price gone from 3p at their launch on AIM to a penny today. No discussion about them. No change to their website. Does anyone know anyone who can recognise any activity from them?
Thanks for the replies so far. I've seen the website and you're right, not much has changed since last year. If the share price bit is right, surely it's looking a bit dodgy ??
A good well funded company that is making its mark in the industry. Major public announcements do not guarantee a solid operation. They have found a niche in the marketplace and are growing every month.
Website is good so why change it? Why don't you speak to the pilots downroute? Apparently all the aircraft they have are doing over 70 hours per month. Doesn't sound dodgy to me!
How do I know this? Because I fly in the back of them.
They have only one '99 CJ (not a CJ1). Surely the purpose of the organisation is to sell shares in aircraft. I am assuming that they have not done that if they still only have the same aircraft they had at startup, and this is being operated and used on the open charter market. I wonder if the "shareholders" of that aircraft get it as cheap as you can on the hourly basis.
The aircraft they own outright is a 2000 CJ (information available at CA website). Delivery slots are being finalised on more aircraft and they are using other dry leased CJ1's because demand is outstripping supply.
I suggest everyone speaks to the company CEO for more information - I certainly have no worries or concerns. Doesn't another fractional company also charter out their aircraft!
From what I have seen this industry runs on rumours and dis-information stated does not reflect the actual position.
Not trying to labour a point but doubt the thinking in keeping expansion low key when you rely on public confidence in the trading of your shares where the organisation is vastly underachieving in comparison to it's pre-float press releases which is reflected in the share price. Floatation capital was used for set up only, the aircraft is not owned outright, but it is financed. I think they are keeping a low profile because it is taking longer to get a foothold than expected, and the press material is of poor interim results and resigning directors. If I were a gambling man I would wager that some share price bolstering by loyal employees was the true reason for the posts by Hawkes and Avfuelman.
Somebody please explain this business model to me, because I don't understand. They floated the company on aims (in otherwords borrowed money), and have a CJ that is financed (borrowed more money), and are now selling shares in that aircraft. How does that work then ? Surely the finance company will want any money resulting in the sale of the aircraft, whether it be the whole aircraft, or 1/16th.
I think the aircraft that is on the books now is a "spare / demonstrator" any future shares sold would require a purchase. There were rumours of 2 non-refundable deposits placed last year for aircraft. I guess you would be really hacked off if you only sold 15 sixteenths?
I don't know this for sure, one sixteenth costs £125,000, this means that a whole aircraft would be sold for £2,000,000. The '99 / 00 CJ is probably worth about $2.8M so I suspect the shares being sold are for a later model CJ1.
The profit comes from the monthly management fee charged for the use of your hours.
We are ad-hoc acquistion, management and charter, EBJ are fractional. Hey, I'm not trying to bash anyone, as far as I know EBJ do a great service, and are selling stuff. I know the aircraft they have is nice, I've chartered it. My comments were based on Hawkes' rosetinting of a company that is struggling, the claim that the aircraft is unencumbered, 70 hours on multiple aircraft etc. The original point of Bacardi's post was to find out if they were worth working for. Hawkes made comments that distorted the truth in a way that makes me think he has some personal agenda. So, the upshot is, they have one CJ, seem well financed through the City and are making slow progress in selling shares in more aircraft. Oh and the press release said one Director left, I have no idea if this is a big deal, if they have 20 directors then I guess not, If they have 4 then I guess it is. From memory it was sales Director and his role is being merged with another role I think.
How on earth can they guarantee availability all over Europe on 1 aircraft? Selling a fraction on 1 aircraft is a fiinancing trick. In the press prior to going to AIM they wanted to have 10 by the end of 2006.. a buying flurry to be expected shortly?
A good well funded company that is making its mark in the industry. Apparently all the aircraft they have are doing over 70 hours per month. Doesn't sound dodgy to me! How do I know this? Because I fly in the back of them.
How can it make it's mark with one CJ ? A previous poster said they operate one CJ and you say "all the aircraft they operate are doing over 70hrs a month"....... So how many aircraft do they operate ? How many crews on the pay roll, do they fly to CAP371 rules, whats the level of support from OPS, basic questions so no need for anyone to get the knives out....
And what's this about directors resigning ?? Phil Brockwell you seem to be in the know, can you PM me with any gen? Many thanks
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