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Old 13th Jul 2003, 17:31
  #23 (permalink)  
jmc-man
 
Join Date: Jan 2003
Location: Manchester
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B757RATED,

I must assume that you are currently unemployed, or relatively new to the industry.

Most pilots (in fact most people) would need to see some level of evidence that a new company is actually going to start before quitting their existing jobs.

This evidence can be a contract of employment, (which carries a limited amount of obligation on the part of the new company), confirmation of things like an AOC application, (which should be well under way by now, on the basis that two start dates have already passed) or a basic business plan, which is required to be submitted to the CAA for the purposes of getting an Operating Licence.

It would also be useful to meet the main players and determine if you have confiedence in them getting the operation up and running as planned. You should NOT allow yourself to be fobbed off with the " That information is confidential because it is too sensitive" routine. They must have a business presentation that they are showing to any prospective investor. Ask for a copy.

To give you some idea, the CAA Consumer Protection Group ( who issue the Operating licence - financial fitness) require a new airline to demonstrate that they have enough cash to start up, then run for three months with NO INCOMING REVENUE. They select the three month period based on THEIR view of when the airline is fully started. In the market that NOW is looking to enter, I figure they need to have in the region of £6M available to meet these requirements. Someone should be able to reassure you where they realistically see this money coming from, before asking you to commit to joining.



Thomas Cook Man
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