Eastern Airways-2

[davidjohnson6]

Given the current demand for oil/gas related flying at Aberdeen how much is Eastern really worth without the asset that is HUY ? I imagine that Richard Lake would have had to put in a sizeable chunk of equity if he borrowed any money from a bank to finance this acquisition. I am wondering if buying Eastern back from Bristow was driven more by emotion than anything else

[virginblue]

Originally Posted by SWBKCB

And on a lighter note...



Statement from Eastern Airways

But no prisoners taken as well:

It’s good to see ‘Scotland’s favourite airline’ with the English owners and senior management team, putting to good use its manipulated position on being unencumbered with the debt of its sister company following the planned merger with flybmi by recreating the same operating environment again, curious planning for sure but cause for a celebratory chuckle all the same.

[goldeneye]

Originally Posted by virginblue

But no prisoners taken as well:

Odd statement to release, not on their own website and currently only picked up on the link posted above.

[fjencl]

So has Eastern Airways kept the 2 ATR aircraft that were operating for Bristows, now that Eastern has been sold.......

[SWBKCB]

Originally Posted by Buster the Bear

Bankruptcy protection filed. https://www.ainonline.com/aviation-n..._hsmi=72619146

That's the American parent company, of which Eastern are no longer a part.

[dboy]

But who is now the new owner of EA???

[SWBKCB]

But who is now the new owner of EA???

See post #400 - Orient Industrial Holdings Limited, formed in early May and 100% owned by Richard Lake.

[RAFAT]

I have no doubt that this deal will be a win-win for Richard Lake; if he's paid out anything at all it is likely to be a fraction of what he originally sold it to Bristows for. Having said that, it wouldn't surprise me if Bristows are actually subsidising the deal in order to offload Eastern quickly.

Atlantic Explorer - I disagree that Eastern were a "shambles" before Bristows took over, just my opinion.

[Atlantic Explorer]

Originally Posted by RAFAT

Atlantic Explorer - I disagree that Eastern were a "shambles" before Bristows took over, just my opinion.

You obviously weren’t on the same Fleet as I was then!

Was as a great place for many years, but started going downhill about 2009, beyond recognition now I’m told.

[SealinkBF]

https://www.energyvoice.com/other-ne...stern-airways/

[oapilot]

RAFAT You’re probably right, organised chaos is probably a better definition.

[RAFAT]

That's a better description oapilot.

There is no doubt that crews were increasingly shafted as time went on, they weren't a cohesive workforce and nobody fought back so their treatment got worse. Eventually, due to sustained recruitment around the World, many just voted with their feet and left. For whatever reason the HUY management chose to try and tough it out, but with their heads in the sand their ass was truly bitten and crew shortages began to affect the operation, only then did it start to get a little shambolic.

[SWBKCB]

Financial terms of the deal were undisclosed, although Mr Lake is believed to have paid substantially less than the £27 million he received for the business in 2017.

P&J - Business as usual for Eastern Airways after sale

[Skipness One Foxtrot]

And flybe? Are they are franchisee or not?
It's not even mentioned!

[RAFAT]

Originally Posted by Skipness One Foxtrot

And flybe? Are they are franchisee or not? It's not even mentioned!

From the article in SWBKCB's link: "Its business employs 350 people and spans scheduled flights as a franchise partner of Flybe, specialist oil and gas contracts, corporate shuttles for blue-chip companies and ad hoc private charter services."

[NorthEasterner]

Eastern's Fleet

Just had a quick look (apologies for any errors) but out of 29 total aircraft only 15 are operating.

J41 (non-op)
G-MAJC (last flew Apr assumed non-Op)
MAJB
G-MAJE through to MAJK
MAJM

S20 (non-op)
G-CDEB (in ORB)
G-CERY (in ORB)
G-CFLU (in BZG) (27may)
G-CIEC (in ORB) (27may)

Might have been discussed before but what are the S20s doing in ORB/BZG, awaiting to be scrapped?

I can only assume the Jetstreams are at end of life/beyond repair and used as spare parts etc. Please correct me if I'm wrong.

NE

[Aberdeen1234]

Originally Posted by NorthEasterner

Just had a quick look (apologies for any errors) but out of 29 total aircraft only 15 are operating.

J41 (non-op)
G-MAJC (last flew Apr assumed non-Op)
MAJB
G-MAJE through to MAJK
MAJM

S20 (non-op)
G-CDEB (in ORB)
G-CERY (in ORB)
G-CFLU (in BZG) (27may)
G-CIEC (in ORB) (27may)

Might have been discussed before but what are the S20s doing in ORB/BZG, awaiting to be scrapped?

I can only assume the Jetstreams are at end of life/beyond repair and used as spare parts etc. Please correct me if I'm wrong.

NE

I believe the S20s were over for heavy maintenance. Not sure about the J41's

[PintofDoom]

T3 fleet

The Saabs are currently being returned to their lessor. Only KA/KB/RZ remain in service. These will be gone by November.

The jetstreams are undergoing C checks which is taking longer than expected .

Currently back to two 145s CISK/CHMR one in Rodez other is used around the network if its not in the hanger.

And the two ATRs IACY/Z just fly to shetland with occasional visits to WIC/NWI.

Current plan is get back to profitability, awaiting information from Connect Airways and thank you Bristows but goodbye lol

[fjencl]

Is there something going to be happening with Connect Airways and Eastern Airways ???????

[PintofDoom]

T3 fleet

It's more to do whether Eastern remain a franchise partner and everything else that is included from sales, advertising ect