PPRuNe Forums - View Single Post - JETGO Cancel Sydney - Roma - Sydney
View Single Post
Old 23rd Nov 2014, 19:21
  #21 (permalink)  
TBM-Legend
 
Join Date: Feb 2002
Location: NSW
Posts: 4,280
Received 38 Likes on 29 Posts
I wonder how they'll meet these conditions:

To be a U.S. certificate holder -- Part 135 or 121 -- the operator needs to be:


a) President a U.S. citizen


b) actually under control of American citizens


c) 75% of voting stock owned by American entities at least 51% controlled by American citizens


d) foreigner can hold up to 49% of stock, if 25% is non-voting


e) regulations are silent on debt and lessor, but if commonly acknowledged that company is being manipulated by JetGo Australia, it will be found to be in violation of law, and they can ask Sir Richard Branson for advice on how to get out of that pickle, as USDOT made Virgin American remove its US citizen president because he was recruited and taking orders from Sir Richard, and not acting independently enough in their view.
TBM-Legend is offline