Planestation/EUJet - Latest
Join Date: Dec 2004
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what happened to the data for April and May on their website? They usually post info about load factor and bookings levels. Perhaps the results are too shocking to publish...
OH!!! SECONDS LATER IT HAS APPEARED ON THE WEBSITE.
SOMEONE IS READING PPRUNE OBVIOUSLY...
OH!!! SECONDS LATER IT HAS APPEARED ON THE WEBSITE.
SOMEONE IS READING PPRUNE OBVIOUSLY...
Join Date: May 2005
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Update from Planestation
This update was issued to the Stock Exchange yesterday.
"The Directors are pleased to announce that on 28th June 2005 the Company entered into an exclusivity agreement relating to the possible sale of a 75% interest in Kent International Business Park.
Earlier this year, in January 2005, the Company completed the acquisition of EUjet Ops Limited (“EUjet”). As stated on 31 May 2005 the Directors have been encouraged by the progress made by EUjet during this period. In the prospectus dated 17 December 2004 the Directors stated they considered that the value of Kent International Airport (“KIA”) could best be maximised by having a passenger airline based at KIA. The Directors believe that the progress of EUjet to date has proven the demand for low cost air travel from KIA and this strongly supports the original belief that KIA can become a profitable and valuable regional airport over the medium term.
Whilst EUjet has made considerable progress since its launch of scheduled services from KIA in September 2004, a previously unknown market, it is now apparent that passenger numbers will fall below planned levels during its first year of operation. The Company does now have a good understanding of the nature and size of the market from KIA for low cost airline travel. The airline has established a proven route network to 22 destinations along with robust yield management systems.
As a consequence of the shortfall in passenger numbers together with the increases seen in oil prices the Directors recognise that the cash requirement within EUjet will be greater than originally planned which they intend should be funded by further asset disposals.
ENDS"
"The Directors are pleased to announce that on 28th June 2005 the Company entered into an exclusivity agreement relating to the possible sale of a 75% interest in Kent International Business Park.
Earlier this year, in January 2005, the Company completed the acquisition of EUjet Ops Limited (“EUjet”). As stated on 31 May 2005 the Directors have been encouraged by the progress made by EUjet during this period. In the prospectus dated 17 December 2004 the Directors stated they considered that the value of Kent International Airport (“KIA”) could best be maximised by having a passenger airline based at KIA. The Directors believe that the progress of EUjet to date has proven the demand for low cost air travel from KIA and this strongly supports the original belief that KIA can become a profitable and valuable regional airport over the medium term.
Whilst EUjet has made considerable progress since its launch of scheduled services from KIA in September 2004, a previously unknown market, it is now apparent that passenger numbers will fall below planned levels during its first year of operation. The Company does now have a good understanding of the nature and size of the market from KIA for low cost airline travel. The airline has established a proven route network to 22 destinations along with robust yield management systems.
As a consequence of the shortfall in passenger numbers together with the increases seen in oil prices the Directors recognise that the cash requirement within EUjet will be greater than originally planned which they intend should be funded by further asset disposals.
ENDS"
Join Date: Aug 2004
Location: Sussex
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It sounds very much like they are turning assets into a cash drain. I have no idea what a 75% sale of Kent Business Park might be worth but it is possible to do some calculations of the cash drain that EUJet seems to represent. I guess that could easily be £1 million per month, even that assumes that the aircraft leases are virtually free. It does not take account of rising fuel prices.
The other thing is that there is no consumer protection in their business. Airlines always rely on consumer confidence and if this latest announcemnet is widely available in Kent newspapers there could be reluctance to buy tickets. Then the cash flow gets much worse very quickly.
November would seem to be the next crunch time.
The other thing is that there is no consumer protection in their business. Airlines always rely on consumer confidence and if this latest announcemnet is widely available in Kent newspapers there could be reluctance to buy tickets. Then the cash flow gets much worse very quickly.
November would seem to be the next crunch time.
Join Date: Dec 2000
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Winter season flights are being put up today on the website. I'm trying to make sense of them. Only big cut is Dublin - Manston loses its weekday pm flight (bad for me!), but there are some very interesting new routes. I'm not sure whether all the programme is posted yet.
Join Date: Dec 2004
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I dont know. Just reporting what was in the paper
Other new EU Jet routes include MSE-Innsbruck (is that INN's firs low cost airline?) and SNN-AMS. Is SNN getting a based aircraft
Other new EU Jet routes include MSE-Innsbruck (is that INN's firs low cost airline?) and SNN-AMS. Is SNN getting a based aircraft
Has anyone told the tour operator that an F100 won't make it non stop to those destinations?
Don't tour operators plan their flight schedules several months in advance? If they're talking about it now, it could be 2006 before it actally happens. Too little too late?
Last edited by Andy_S; 4th Jul 2005 at 08:00.
Join Date: Nov 2000
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PTG's yearly results are due on 27 July.
The financial pundits estimate losses of between £30M and £35M for the year with forecast losses for next year. Share price is around 5p.
Details here
The financial pundits estimate losses of between £30M and £35M for the year with forecast losses for next year. Share price is around 5p.
Details here
Join Date: Oct 2002
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Is there any chance that they will recover from this, with a share price like that, I guess you cant really lose, unless of course they go to the wall........
If EUJet was to be grounded due to financial crisis, would planestation fold aswell, or would the property company behind them be able to absorb the losses?
If EUJet was to be grounded due to financial crisis, would planestation fold aswell, or would the property company behind them be able to absorb the losses?
Join Date: Dec 2004
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If EUJet was to be grounded due to financial crisis, would planestation fold aswell, or would the property company behind them be able to absorb the losses?
Join Date: Dec 2004
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Slim...
You don't work for us any more, don't you have anything better to do that take part in EUjet debates? Some of your posts are (like the one about SNN) do nothing to help the situation!! Your gone now so please don't chip in all the time with constant negative jabs. Constructive points of view are always welcome.
You don't work for us any more, don't you have anything better to do that take part in EUjet debates? Some of your posts are (like the one about SNN) do nothing to help the situation!! Your gone now so please don't chip in all the time with constant negative jabs. Constructive points of view are always welcome.
Join Date: Dec 2004
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why does this site always become so bitchy and girly? can't we all just get along? it isn't fair to reveal someone's identity on here - that is very childish.
what slim shady had to say was very relevant to the topic... Now come on children lets carry on like grown ups.
what slim shady had to say was very relevant to the topic... Now come on children lets carry on like grown ups.