I think it could be new aircraft. 3 of the B767's were ex-ANZ & although in fantastic condition with average hours, they were very low-cycled for their age. G-SPNA is ex-KLM & ex-ZOOM but it is the only one with a main entry door at 'Doors 2' allowing a higher capacity than the other 3.
The capacity of a 6 main door/2 small emergency exit B763 is around 330 seats. That's G-SPNA.
The capacity of a 4 main door/4 small emergency exit B763 is around 270 seats. That's G-CEOD, G-CEFG & G-CDPT.
With no firm date for the delivery of their ordered B787's & MAYBE a desire to replace their B767's, MAYBE it's a re-equipment programme that needs funding.
Halcyon spent over a month scrutinising Globespan's books before deciding to invest. But like I asked previously, how many venture capitalists are deciding to invest cash in airlines and how many airlines have a queue of several investment companies submitting bids of investment in the current global investment & aviation industry climates? Answers on a postage stamp to that one.
As someone stated previously, investment companies don't approach airlines offering investment unless they are a sound, worthwhile & a bloody good prospect.
MAYBE it's the decision of the 70 year old owner to sell a stake in his project to help fund his retirement with an injection of a few million.
But if I was investing in a company & found out that a credit card company was withholding several million pounds from said company, I think I would hold off from taking a stake. Halcyon studied GSM's finances for over 4 weeks & fought off several other parties that wanted to invest in GSM but Tom Dalrymple & GSM Senior Executives chose Halcyon. Why?
A previous company I worked for was owned by 2 men. It operated a couple of Shorts 360's doing ACMI & AdHoc charter. An investment company called 3I came along, gave Brian & Gene a barrowload of cash for a 49% stake in the company.
Within months the company got a couple of BAe146's & expanded. About a year after that it bought a couple of B737QC's to enhance it's specialist operations. Then it bought a B757, then another, now it's after a B767. Expansion was possible due to outside investment being brought in & the company being taken to the 'Next Level'. 3I never got involved in the running of the company, they just left that to a very capable & trusted management team.
My money is on the 'Scheduled' side of the operation (B737NG's) stabilizing at the current number with possibly the 2 sent away at the end of last summer MAYBE returning with a couple of aircraft leased in from a Canadian firm for 'Summer only' Ops. MAYBE with some of GSM's B737NGs going to Canada for the North American winter.
For the 'Heavy' fleet, I think it depends on when the B787's will come. If it's soon, MAYBE swap the lo-capacity B767's for hi-capacity versions with winglets.
If it looks like the B787 will be delayed further, MAYBE cancel the order & look at ordering A350's. I also think that since Air Atlanta slashed their passenger op's, there has been a demand for that type of operation. Air Atlanta didn't want the expense of moving from the B747 Classic's to B777's. For a company moving up to 'The Next Level', MAYBE buying a couple of used B777's or A330's could be what GSM are looking at, especially when their B763's did so well when subbed out to Air India.
Who KNOWS for definite?? No-one but a select few, but it's exciting times ahead & time really will tell.
Those are my final words on the matter. I have no time for 'Doom & Gloom'ers or people who revel in the 'Scoop' that is someone else's misery. If anyone wants to direct anything at me, use the PM facility.
Out.
