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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
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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. |
Originally Posted by virginblue
(Post 10470387)
But no prisoners taken as well:
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So has Eastern Airways kept the 2 ATR aircraft that were operating for Bristows, now that Eastern has been sold.......
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Originally Posted by Buster the Bear
(Post 10470523)
Bankruptcy protection filed. https://www.ainonline.com/aviation-n..._hsmi=72619146
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But who is now the new owner of EA??? |
But who is now the new owner of EA??? |
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. |
Originally Posted by RAFAT
(Post 10471147)
Atlantic Explorer - I disagree that Eastern were a "shambles" before Bristows took over, just my opinion. Was as a great place for many years, but started going downhill about 2009, beyond recognition now I’m told. |
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RAFAT You’re probably right, organised chaos is probably a better definition. |
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. |
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. |
And flybe? Are they are franchisee or not?
It's not even mentioned! |
Originally Posted by Skipness One Foxtrot
(Post 10473428)
And flybe? Are they are franchisee or not? It's not even mentioned!
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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 |
Originally Posted by NorthEasterner
(Post 10491466)
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 |
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 |
Is there something going to be happening with Connect Airways and Eastern Airways ???????
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T3 fleet
It's more to do whether Eastern remain a franchise partner and everything else that is included from sales, advertising ect
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