Astraeus

[aztruck]

Funny how the current Astraeus management were actually called in to try and rescue BWA from its demise. Post 9/11 the banks pulled the plug after BAE systems wanted cash . If you are suggesting that after 9/11 there was a conspiracy to wreck an Airline and then to start from scratch out of anything else other than harsh necessity, then I suggest that you:
a, Get a good lawyer
b, Understand how tough it is to start an Airline at the best of times, let alone the worst.

Whilst the 737 NG is slower (actually 0.8/0.81) it also cruises at Fl400 with ease and turns in fuel burns of under 2.5 tons an hour.
The 757, that well known lo cost stalwart, has never been picked by anyone to go any long distance as by your criteria it is obvously too slow, with an econ speed of .795 or lrc of .8.
Wow....thats .....the same as a 737....whatever will they think of next.
Maybe I should tell First Choice, Thomas cook , and Continental.
Anyway, back on topic, its the post office for sure.

[silverhawk]

3reds

I was at BWA and Astraeus. You are dead wrong in what you are 'led to believe.'

BWA lurched from one crisis to the next for years. 9/11 and BAe's cock up in which company actually owed the money for the maintenance were the final nails in the coffin. Working at BWA was great fun, but honestly, who buys an airframe without a survey? Mercury found in the hold when it was too late. That cost a lot. Don't forget the 146 training fiasco either.

Fond memories of both outfits.

[AEUENG]

tlog,

I seem to remember that BW were in a very dire financial situation prior to it collapsing, Astraeus is merely up for sale, I am sure the current financiers are not that short sighted to walk away from a relatively healthy company minus a decent sum of cash for their original investment.

I seem to also remember that BW got their fingers severely burnt with their involvement with NJI for which they received little or no payment for the whole time they had their 737's based in italy.

I hope all of the guys at Astraeus have their jobs safe as they are a good bunch and they play their part in the puzzle for training up new pilots on type via the Bond training program.

[Rainboe]

The BW saga is history and not really relevant to what is happening, or going to happen, to Astraeus now. Looking at the sale of a charter airline and the previous examples of such sales, they can be very sobering for the staff involved. I do remember long ago the staff of Orion at MAN got unpleasant treatment. I have seen a lot of optimism in the company about what may happen if taken over by another charter airline. I think my knowledge of what happened in the past in such takeovers leads to more caution, not that caution will help. It seems to be viewed as a possible way to get into another operator, as well it may, but it could also be after demotion onto the new seniority list!

[shortm]

Just finished reading this with interest. I joined AEU a couple of months after they started up (left after a couple of years) and even then there were rumours that the company would be sold to MON after approximately 5 years - sounds as though the same rumour is still going.

Hope all goes well for everyone involved.

[Call Established]

I presume Aberdeen Asset will want a return on the few million they invested at the start.....so a sell out would be right unless the investment house is out already ?

[Puritan]

To live in interesting times

An interesting snippet from Zoom's web site:

NEW ERA FOR ZOOM AS BANK OF SCOTLAND TAKES STAKE IN LOW-COST AIRLINE

Zoom Airlines, which operates low-cost scheduled flights between Canada and the UK, today announced that Bank of Scotland Growth Equity has acquired a minority stake in the airline as part of a $12 million investment package.

As a result of the investment, Zoom - which is owned by travel entrepreneur Hugh Boyle - plans to expand its operations to other worldwide destinations.

Bank of Scotland Growth Equity’s investment will provide additional funds for the start up of a UK-based airline for the Ottawa-based carrier, as well as assisting with a rolling fuel hedging package.

Zoom Chairman, Hugh Boyle, said: “For such a prestigious organisation as Bank of Scotland to take an equity stake in our airline is a tremendous vote of confidence in the success of Zoom which, for the past three years, has pioneered the low fares concept on a transatlantic basis between eight Canadian destinations and six European airports.

The investment by the Bank of Scotland will assist in setting up Zoom UK which will enable us to expand our operations from the UK to non Canadian destinations. This is a red letter day for the airline which bodes well for our future prospects”.

David Wilson, Director of Bank of Scotland Growth Equity, who negotiated the deal said: “We view Zoom as a successful and innovative carrier with a considerable reputation for quality as well as value for money. It is an exceptional growth opportunity and we are delighted to have made an investment in the company and to assist in its long term profitable expansion”.

Hugh Boyle made his mark in the travel business with his brother John by starting Direct Holidays in the UK which they built up before selling to Airtours eight years ago in a multi-million pound deal. Hugh is now Chairman and Principal Shareholder of Ottawa-based Zoom Airlines and Go Travel Direct.

Uhm, one imagines the use (above) of the phrase 'start up' could equally apply to 'merger' or 'take-over' and, coincidentally, isn't RBS a bank that Astraeus use ?!

[Hamrah]

Puritan,

This story has been in the public domain for nearly two weeks.
And Astraeus do not use Royal Bank of Scotland.

H

[zedex7rrrrrrr]

The Bank of Scotland is a completely different bank to the Royal Bank of Scotland. Chalk and cheese, black and white, etc.

Halifax have merged with BOS to become HBOS. RBS still on their own.

[aeulad]

Ch-aviation is saying that Eagle Aviation of France is to take 2 ex-Astraeus 757-200s. I wasn't aware that AEU are planning to cut the fleet. Can anyone in the know shed any light on this?

I thought the African routes were performing well?

Regards

Mike

[Hamrah]

AEULAD,

These are not "ex-Astraeus" aircraft, but the two 757's to be operated on behalf of Ariana.
Eagle Aviation previously operated an Airbus A300 for Ariana, and are taking on the two 757's.

H

[BOAC]

What's in a name, eh Hamrah? Of course, if he were an AEULAD he would have read all that in the staff briefings.

Edited to correct 'unknown' gender for 'EXAEULAD'

[haughtney1]

Actually BOAC he is Ex AEU......and in case your not so sure..he like me, still takes a keen interest in AEU

[BOAC]

Quite so, H1, but just pointing out that the staff are being kept briefed as promised - and I recall meeting him too, now you mention it.

I'm sure we'll all know fairly soon.

[tipbuster]

snippet

Originally Posted by BOAC

Quite so, H1, but just pointing out that the staff are being kept briefed as promised - and I recall meeting him too, now you mention it.

I'm sure we'll all know fairly soon.

Well what about Zoom Airlines, heard they are interested as AEU have done Deer Lake, got the 120 mins etops and have an agreement for investment with BOS the same banK as AEU use. Food for thought eh

[AEUSkinner]

no one has signed on the dotted line yet. we are still waiting. Someone put in a last minute bid and upped the ante

[gatwicknose]

firm info today that AEU will have a new owner by the end of next week.... wil apparently not affect its corporate identity to start with but things may change in due course.....

[plane_crazy]

I heard today that both Astraueus and Excel staff have been paid a week early. Plus some senior management have left the company...

There were rumours of a minority stake up for sale, but I think the company is now probably in Excel's (avion's) hands?

Any ideas?

[PPRuNe Pop]

The secret is, to avoid making wild guesses. You will invariably get it wrong!

Like everyone else you will have to wait. And, btw, remember the staff will know before anyone outside AEU do.

[gatwicknose]

well put MOD....I suspect though that even with the best of intentions if excel are involved here the whole thing may be less sensitively handled