HW sez:
Actually, I remember Erickson saying that Scheduled Load factor was 50%.
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Just where are you characters getting these numbers from? Since I actually fly the airplanes mentioned, and sign the w/b sheet on every flight; UNLIKE Heavywhale and BD, I can verify that, on the flights I've had, we've AVERAGED 70-100Kg of cargo or otherwise been bulked out for the better part of 12 months. Chicago, LAX, NY and Miami stations have all had 'record' loads, according to the personnel there...and yes, these include the POLAR flights that Atlas has graciously taken over for us with their WET-LEASED planes. The world economy is on a comeback, and our numbers are showing it!
For Erikson's '50%' number to make any sense, we must be flying a LOT of empty planes around on our scheduled runs, and I, along with my colleagues, sure as hell haven't seen this. We'd have to be nearly EMPTY on every other flight! It's NOT happening!
As Polar's pilot group is in somewhat of a contentious contract negotiating period with PAC/AAWH mgt. stooges, count on management to cry 'poor' so that they have an excuse to hose us. But don't YOU fall for it, dear readers...
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HW sez:
It is just a fact that Polar owes $140 million to Atlas. Polar hasn’t been paying for the A/C that are dry leased from Atlas Air and the holding company hasn’t been paying the regular lease payments of those A/C, so in turn Atlas owes money to the leasing companies, in effect Debt upon debt. $35 million was loaned from Atlas to the Holding company so the holding company could buy Polar with that money, further putting Atlas in the red. And something like $200 million in cash was missing at the time Rick Schuler was fired as the CEO of the company, and is no where to be found.
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Ah yes, the "$140 million" number again. Why not demonstrate the FACTUALITY of this figure? You CAN'T...because... this number was generated by AAWH ATTORNEYS filing a legal brief in Miami bankruptcy court, as BD kindly provided a link to, short while ago- this figure is NOT from a respected Wall Street source or other NEUTRAL PARTY. Of course AAWH will, in this way, blame POLAR for its FAILED, OBSOLETE business model. What a fine way to do it! What geniuses they are! Who would'a thunk it?
Of course, we all know what stalwarts of the TRUTH attorneys are, particularly those employed by AAWH.
The hell of it is, if I was owed $140,000,000.00 by a 'client', the very LAST thing I would do is continue to provide goods and services to that 'client'.
And yet, we see AAWH happily continuing to WET-LEASE planes TO Polar, and Polar continue to DRY-LEASE planes FROM Atlas...FIVE OF THEM, at last count.
Funny behaviour from a so-called 'healthy' company towards a so-called 'SICK' company. Explain THAT, HW and BD! Again, your arguments fall FLAT for a complete lack of LOGIC and FACTS. But I know you'll keep spewin' 'em out, anyway.
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HW sez:
There is no doubt that this whole mess was caused by Management.
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On that, we can certainly agree.
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HW sez:
There is no doubt that Atlas Air would be in trouble anyway without Polar being in the picture, with the same management team in place.
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You get a cookie.
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HW sez:
However, if you compare business model to business model and run the companies with HONEST management, Atlas Air would be making huge profits and Polar would still be loosing money.
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BZZZZT!! No cookie for you, HW! And, you were doing so well there...the first tip to our studio audience, though, was the part about 'honest management'! Just how long have you been around the airline biz, anyway?
ONCE AGAIN...If ATLAS' business model were SOOOO good and POLAR'S SOOOO bad, then why in theee-hell is ATLAS running ITS planes on multiple POLAR routes on a wet-lease, and POLAR dry-leasing planes from ATLAS?
REPEAT AFTER ME....IF POLAR HAD THE BAD BUSINESS MODEL, THE SITUATION-(all together now!)
*WOULD* *BE* *REVERSED*!!!
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hw sez:
Atlas can fly around empty or full, it’s the same price for the 747, it’s up to the customer to fill up the plane. Polar’s 50% load factor is very weak.
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Again, the mythical "50%" number...got a REPUTABLE CITE for this? Or, is this coming from AAWH attorneys as well? And keep in mind, when POLAR flies a CHARTER, the SAME rules apply- we get paid whether the plane's empty or full! That's hardly the exclusive preserve of Atlas!
AAWH has LIED to Wall Street about financials in the past- who can believe anything Purchase says anymore? Too bad you do- and refuse to look at the FACTS, instead, much easier to swallow propaganda from mgt- especially when you agree with it, no?
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HW sez:
It will be interesting to see what the creditors do. I know what I would do, and that would be, grow Atlas
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Well, of COURSE you would, HW! After all, you're an Atlas crewdog! But just because this benefits YOU doesn't mean it's the right thing to do for the Company.
Guess what? If I were in mgt., the first thing I would do is GROW POLAR! What a surprise! Why? I'm a Polar crewdog!
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HW sez:
(there is a huge rebound in ACMI contracts and Atlas is very busy now)
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Really? Great! Got a CITE for that, too?
Your argument is GARBAGE as long as a SINGLE Atlas plane flies with a POLAR flight number. If the ACMI biz were as you say...but...
ACMI is virtually DEAD. The halcyon days of Chowdry drumming up limitless business in his $40,000,000.00 BBJ and getting cheap cash from Pakistan are GONE. Get used to it!
That's why Atlas planes have to fly POLAR flights, and POLAR has to RENT planes from Atlas, otherwise they would sit and ROT...GLIDERS in the desert, they'd be, but for POLAR's routes and VIABLE business model!
I'm sure Polar would be happy to lease planes from the open market, rather than pay AAWH's exhorbitant rates. But what's happening isn't supposed to be good for POLAR, it's what's good for AAWH that counts.
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HW sez:
and I would seriously downsize the Polar Operations that have less than 70% load factors. And depending on the outcome of Polar’s grievance (which they will probably loose),
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Brilliant, HW! Downsize? Hell, why not SELL us?
I'll TELL you why...POLAR is one of the few JEWELS in the AAWH crown...and AAWH mgt. KNOWS it! And, don't worry ...it's far from a forgone conclusion that we'll loose (sic) our grievance!
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HW sez:
I would wet lease Atlas to Polar to fly those routes, because Atlas can do it cheaper with the new renegotiated lease payments for their A/C.
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You'd wet lease planes to us, eh?
Hmm, could it be that it's because you HAVE NO WORK FOR THEM? Gosh, what a surprise!
BUT HEY....GUESS WHAT??
YOU ALREADY ARE wet-leasing planes to us! Man, at least give AAWH mgt. some credit...that wasn't YOUR idea!!
THAT'S why Polar is STILL a part of the AAWH 'empire'. Atlas has NOTHING but a pile of paper leases and a few charter contracts- the relative worth of which, AGAIN, can be gauged by the FACT that POLAR wet and dry-leases planes from ATLAS- NOT the other way 'round!
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HW sez:
By the way, does anyone know the truth to the rumor that 2 of Polar’s 400’s were repossessed by their leasing companys?
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Most likely unsubstantiated B.S., HW- just like the rest of your post!
EVERY 400F we have is still on the property...INCLUDING N496MC, which, according to your nutty 'logic', AAWH gives us to operate for FREE! It's Chistmas ALL YEAR ROUND for Polar at AAWH!
But, believe me, we'd like to give it back, since I'm sure we could get a BRAND NEW PLANE from Boeing for what we pay AAWH for operating it! But if we did that, it'd go to the desert and turn into a $150,000,000.00 sailplane- beacuse AAWH can't make the payments!
Thanks for playing, BD and HW! You lose- AGAIN.
TT