Planestation/EUJet - Latest

[smallpilot]

Did anyone else catch the announcement by Planestation (PTG) to the Stock Exchange today?....

Its a very long document but in brief here's the key points...

*PTG is to raise £30million by a placing/issue of 300 million new shares at 10p each.

*PTG will exercise its option to buy the 70% of EUJet that it does not yet own.

*A number of underperforming routes have been identified and these are likely to be reduced or cut if things dont improve.

*Some of the money raised will be needed to provide working capital as the group is still experiencing net outflows (i.e. running at a loss) On these figures they are haemorraging cash at an alarming rate IMO

*The prospects for Manston are linked to EUjet and the loss of EUjet would be seriously detrimental to Manston's viability.

quote-
"The Group is currently dependent on the short-term support of its bankers and its bankers confirmed that unless the Issue was announced by 16 December 2004 that support would be immediately withdrawn"

"The airline carried some 73,500 passengers between 1 September 2004 (when it commenced operations as a low-cost airline) and 30 November 2004 and on 3 December 2004, had advance bookings for 85,409 passengers. However following
adverse media comment about the financial stability of low-cost airlines including EUjet, early indications are that the number of bookings received and passengers carried in the first week of December have been below expectations."

"Shareholders should note that EUjet has continued to experience a cash outflow as a result of its operations since 30 September 2004 and EUjet remains dependent on the support of the Company. (PTG)"

The main working capital requirements of EUjet over the next 12 months are expected to be:

GBP16.4 million for aircraft lease, crew and maintenance costs
GBP10.6 million for fuel costs;
GBP12.4 million for route, airport and handling costs; and
GBP3.3 million for marketing and distribution.
These amounts will be partially offset by the expected revenues of EUjet over the next year.


In short, PTG's bankers have told them to raise this money or they would have pulled the plug.

PTG's share price closed at 12p today.They have dropped dramatically from 65p as recently as mid-Oct and have halved in price this month alone.

This looks like a last throw of the dice to me. If this fails there is no plan B.

[airhumberside]

Good Luck to them

What about their other airports like Black Forest, Melbourne and Parchim - any updates there?

[Bramley]

Expect an positive announcement tomorrow. The show ain't over yet.

[EK-LHR-LGW-GLA-MAN-B]

Will be interesting to see what routs will be droped or cut back on.

My 1st ever post, been reading the forum for quite some time now.:D

[jmc-man]

Well blow my cotton socks off!!!!!!

have I just read that correctly?

A Start up, low cost operator with a handful of old tired F100's based in a regional airport has calculated a working capital requirement for 12 MONTHS OPERATION of...

£42.7 MILLION



Well, they say the way to make a small fortune in Aviation is to start with a LARGE fortune......but this takes the biscuit.

But ...hang on....it will be

Partially offset by the expected revenues

Ah well thats ok then...but thats a shed load of cheap tickets

[Nakata77]

THE END IS VERY NIGH

[bish-bash]

Am i the only person thinking that Manston will make a nice site for Mr Prescotts South-east housing scheme? With Jet supports closure and MK's departure, i would say Manstons future is that of West Mallings old airfield, if EUJET fold.

[airhumberside]

Dont they still have Ethiopian Cargo and summer charters to Jersey

[serko]

expansion of routes for eujet

new routes Cologne Budapest, Alicante, Seville, Valencia, Newcastle

[Copenhagen]

Putting £42.7 million into a bank @ 5% will return £2.08m interest annually.

Would I prefer £2m in the bank or: (bear me with)

5 108 seated F100's operation 4 return flight a day for 12 months = 1.5m seats... Average load factor of 50% in year one = 750k passengers... (First three months under 30%)

using average EasyJet yield of approx £42.00 per passenger = £31.5m revenue for EUJET. To make more than 2m cash EUJET needs an operating margin of 6.6%. Dont forget that EasyJets operating margin is only 8.8% and southwest only 8.6%.

Now which would you invest in?

[serko]

Copenhagen,

you seem to forget that they also own the airport. 750,000 is a lot of landing fees a lot of fuel surcharge £5 per person per leg a lot of parking fees etc, etc.

[airhumberside]

Also BFS

What about new Shannon routes

[Copenhagen]

Serko - Airports with under 1m passenger departures tend not to be profitable, so in reality EUJet owning the airport would be a further strain on their finances.

If owning an airport was such a great Idea, how many other European airlines own airports??

I can only think of one... Coventry.

Now, in the US lots of airlines own their terminals... and they arent profitable.

[serko]

eujet's costs for the next 12 months are.

£16.4million aircraft leasing, maintenance and crew
£10.6 million fuel costs
£12.4 million route airport, handeling costs
£3.3million Marketing and distribution.

[Woodman]

Following on from Bishbash - nothing would please Wiggins (sorry, Planestation) more than Manston airfield and the adjacent business park going for housing. They'd make a lot more money than operating an airline!
That does raise the question of who would buy the houses, where they would work, etc. The Manston area is already one of the cheapest places to buy in the south east.

[Buster the Bear]

Oh dear, what a mess! Now they have to lure the travelling public to book with them, knowing just how close to insolvency PlaneStation was!

http://whipsnade.co.uk/picturelibrary/jpeg150/br/brown_bear_120_wide.jpg

[fj1]

Answering some of the Above :

The biggest employer in the area, Pfizers are a big user the airport. On the Airport Business park you have Cummings, and if IIRC Air Atlanta are building a warehouse.

Jersey Flights will be back in 2005 with Aeroscope(Airline Unknown) along with some Newmarket(KM) Charter Flights.

Cargo Flights are still operated by Ethiopian , UK Gov. (ODA), African International, United Arbian Airlines plus various east european Anothov(sp) operators.

IIRC, The Italian Airport has Excel using EMB135(?) + Holiday charter flights in the Summer.

--------------------------------------
If Planestation did fold, is there a back-up plan, manston revert back to the MOD(Still a big user)? ATC will be Good FUN.

[airhumberside]

The Italian Airport has Excel using EMB135(?) + Holiday charter flights in the Summer.
I thought Plane Station had ceased involvement in Cuneo as it was loss making

[niknak]

fj1
"ATC will be good fun"

Is that why they've had no "suitably experienced" applicants to either the advertised posts for an ATSM or ATCOs, and the resident atcos of any quality are desperate to leave? :rolleyes:

[fj1]

airhumberside,

Just looked at their annual report "As a consequence of our decision not to invest further in the loss-making airport at Cuneo
our shareholding has been diluted to nil. ".

But Cuneo is still on their website!.

cheers for the info.

[airhumberside]

In case anyone is interested GrandaExel serve Rome and Strasbourg, AlpiEagles plan to do a 3xweekly Paris CDG-Cuneo-Naples route and I think there are summer charters to Olbia and Elba but I'm not sure

[EK-LHR-LGW-GLA-MAN-B]

EU Jet have now also added extra flights on the GLA-Manston route.

[GrahamK]

Shannon-Palma and Ibiza now also added

[The_Bean_Counter]

November load factors have been released by the CAA and Manston / EUjet are late in filing their numbers again ?

[Keyvon]

To airhumberside :

Granda Exel has ceased all flight operations on December, 17. It had operated scheduled flights from Cuneo to Rome Fiumicino (thrice daily) and Strasbourg (once daily) as well as summer charter flights to Malaga, Palma de Mallorca, Ibiza and Split. It provided also connections to Amsterdam via SXB. It had also planned to serve Bulgaria from Cuneo.

Alpi Eagles is now the only airline operating scheduled services to Naples (3 times weekly) and Paris/CDG (3 times weekly) with a Fokker - 100.
Alpi Eagles is expected to resume flights to Rome on a daily basis.
Air One is also supposed to reintroduce the discontinued services to Rome if Alpi Eagles will not do it.

Air Vallée operates flights to Olbia twice a week every year during the summer season.

[niceguy]

I never thought of myself as a genius, but never thought I was stupid either.

So why cant I understand this EuJet thing? This project has absolutely no chance of working what so ever and never did.

So what in hells name are people doing giving them £30m quid when the obviously more viable flywho are struggling (we suspect) to get their act together. Why are investors such morons? Dont believe me - just think channel tunnel! HOW MUCH MONEY????

Why do people throw money at doomed ventures and fight shy of good ones. There was never a hope in hell of unreliable F100's from nowhere international turning a profit but this doesn't seem to have struck the men with money.

FlyWho (much maligned but a bloody clever plan when measured against this idiotjet venture) have a huge market, a great product and a good chance of profit so where are planestation with their millions on that one?

Maybe someone might just find a brain and invest in flywho and get them to fly to Melbourne Fl. instead of sanford. No... too obvious for investors. They only do stupid things. Goodbye EUJet.

[circseam]

And where is Mc (no names) now, probably laughing all the way to the bank?


I do hope for all concerned EUjet can make a go of things and I realise thay have to announce share holder information on the stock exchange but im with Buster.....the general public read something like that and EUjet is no more.

Circseam

PS: happy xmas PPRuNers, even ALLMCC!!!

[bish-bash]

From radio kents website:-

Night flights 'opposed by most'

The council says 'loud, noisy planes' are not on the agenda
Campaigners claim 80% of people living near Kent International Airport are opposed to plans for night flights.
Pete Binding, from the Manston Airport Group, said residents wanted jobs created at the airport but wanted flights to be kept to the daytime.

Thanet council is expected to discuss night flight proposals on 13 January.

On Wednesday, council leader, Cllr Sandy Ezekiel, said the authority supported the airport, but that "loud, noisy planes" were not on the agenda.


People want the jobs, but you shouldn't be allowed to create jobs at the expense of other people

Pete Binding

But Mr Binding said: "It most certainly is on the agenda."

He claimed a recent survey had found that 80% of people opposed night flights and were concerned about noise.

"People want the jobs," he said.

"But you shouldn't be allowed to create jobs at the expense of other people."

Rescue package

PlaneStation, owner of the airport and budget airline EUJet, announced plans for night-time flights last week along with a £30m rescue package for its business.

The company has lost more than £6m during its first year.

PlaneStation has said the investment will safeguard the airport and airline for two years.

In its first year of operation, EUJet hoped for half a million passengers but attracted 71,000 in the three months after leisure flights began in September.

Cargo business also fell by 33% after a major freight operator pulled out in August citing increasing costs.

PJ McGoldrick, managing director of the airline, said the company expected to see 800,000 passengers flying out of the airport next year.

Also noted from the Sunday telegraph pages, (5th Dec) that Martin May was quized at the recent planestation AGM by the telegraphs Edmond Jackson, It transpires that May has taken the shareholders down the path of re-financing without investing a cent of his own money!!!!!!!!!!!

[Nakata77]

NICE GUY

I TOTALLY AGREE WITH YOU

I sometimes find it incredibly frustrating in this industry. It seems to me that these people seeting up airlines/investing in doomed ones are just 'boys with toys'. They have no foresight whatsoever. Only bouyed by their boyish desperation to see it work.

I really hope flywho will succeed - they have a great marketable idea and a smart outlook...anyone now what the bookings are looking like?

Planestation investing in flywho and operating some flights from Manston would've been far more lucrative.

[Jes]

How come you geniuses aren't all running airlines?

Ever since EUjet announced it was starting scheduled services this forum has been full of "it won't happen" " it won't last" "it can't this" "it can't that".

It has and it is. Why don't you just hush your mouths and give it a chance?

And get back to running your own companies.

By the way, the Peter Binding mentioned earlier in the thread would get on well with you. 80%? Four out of his five members, that means.

[niceguy]

Jes

I must assume from your comments that you think this venture is doing well by putting all this cash down the toilet!

this latest funding probably makes EUJ the best funded new airline ever to start within the country and it IS going to fail. What a mess!

Nakata77 and I both seem to agree that flywho, coaxed with some investment to serve Florida from Manston might have had a gravy train for Planestation but they got involved with this idiotjet venture and will lick their wounds for many years to come now, mark my words!

[XpressOne]

I happen to know that Flywho were offered option to fly to Melbourne FL but declined as they felt no demand for flights either from MSE or BHX. I guess they have a better deal on the table from SFB. I guess thinking outside the box is not always clear to the people at the top even in a start-up phase...

[The Real Slim Shady]

Now then folks, it isn't over until the fat lady sings.

There are discussions underway which, whilst not altering the financial situation in the short term, would give investors, staff and customers the prospect of a viable future.

Whilst Ý am not at liberty to divulge exactly what the discussýons focus on, the opportunity to bolster the share price and give the market some confidence may be presented to Planestation and PJ in the not too distant future.

Things are at an early stage but never say never!!

[Flap42]

EUjet Loads were very good today! 98 Pax out to GVA and just about all the other flights were around the 60-90 mark. The Pax numbers are on the way up all the time.... I hope things keep going this way, I enjoy flying for them and working with all the guys at Manston...;)

[niceguy]

[I happen to know that Flywho were offered option to fly to Melbourne FL but declined as they felt no demand for flights either from MSE or BHX. I guess they have a better deal on the table from SFB. I guess thinking outside the box is not always clear to the people at the top even in a start-up phase...]

Interesting inside data you have there, but think about your arguement. Wasnt it Tony Ryan who admitted that it is tough to make money flying from nowhere to nowhere? It may not have been TR of course, but it's very clever anyway and certainly very true! Flywho would be mental to try selling flights to Melbourne when everyone knows its in Australia!

I would like to see Manston work, and I still think that with the right offers it can work but Manston - Melbourne Fl is a very tall order indeed!

Lets also look at the reasons why SFB would want flywho to go there. They have been assured a 'scheduled' service very soon indeed and who wouldnt want to market that??? The FIRST EVER transatlantic scheduled service between Europe and SFB.

See same deal on St Petes, and FLL have no current EU links either, so they all make a case that is better than Melbourne, but dont get distracted. EUJ cannot possibly work and flywho can work and Planestation have backed the wrong horse here!

[dinsdale]

From a report on one of the financial bulletin boards.....

Apparently the Planestation CEO addressed the troops today at Manston. He expects Lahr to get a passenger licence this month, and Lahr will become an EUjet hub. Shannon is doing well, and he's looking for growth there.

No extra planes!!

No money spent on anything that doesn't produce a return.

Manston is the main focus, as a passenger airport.

Melbourne will be left until Manston is working properly.

He says he needs 65% load factor @ 50 euros per flight to break even. He says they'll make money for only one month this year

[Nakata77]

Glasgow and Madrid has been axed from the network with almost immediate effect, and Cologne has been put on hold probably because if poor forward bookings. Im surprised Glasgow just wasn't put down to one daily flight and into PIK instead of GLA.

[aeulad]

Forgive my ignorance, but where is Lahr??

I wish EUjet would come to Humberside!

Regards

Mike

[airhumberside]

I too wish EU Jet would come to HUY but they will bemore bothered aboutbasing at planestation's own airports

Melbourne has got a new New York JFK route with Delta recently anyway

[phoenix son]

aeulad,

Lahr is in Germany...

Here (http://worldaerodata.com/wad.cgi?id=GM34271)

[Andy_S]

Melbourne has got a new New York JFK route with Delta recently anyway

That's of little relevance to Planestation; their involvement with Melbourne is limited to operating the international terminal.

[Nakata77]

how is MANCHESTER doing load factor wise?

DOES ANYONE KNOW WHAT THE AVERERAGE YIELDS ARE FOR EUJET?

[The Real Slim Shady]

To break even they need $32 per seat on a sector of less than 1 hour. That's around 24.5€ at today's exchange rate.

So 55 seats at 50€ would cover the costs. You can do the sums on other combinations, but the 75p one way and £60 return which has been on offer recently still represents a loss of just over 10€ per seat per rotation if they have 55 pax. To break even at those prices needs about 60 pax.

[HZ123]

Is all publicity good publicity or does such scrutiny by us actually harm the company and its employees. The latter have much to lose and must get hacked off with all the differing financial models offered up. Is it not time to give EU jet a break and just wish them a long future.

[bmibaby.com]

I think that Manston has a huge amount of potential, but I am still unsure whether Planestation buying EUJet was a great move. Does anyone know if this new situation is working out well? Are the new owners happy, and does the previous leasing company owner still have connections with EUJet?

As I don't live in what might be described as "EUJet's Catchment Area" I would be interested to know by those who do whether the airline is doing a lot of marketing in local press, buses, billboards etc. to introduce people to the airline, rather than driving to LGW to fly with EasyJet or BA?

I think considering the lack of competition in markets like MAD & CPH that these routes would have done well, and so I'm interested to learn what went wrong ...

[The Real Slim Shady]

Well, they must be feeling pretty confident with the money from the rights issue in the bank coz they are sponsoring the Margate Air Show apparently !!!

[LTNman]

CAA figures show that an average of 867 passengers a day used Manston in January. 433 passengers in each direction doesn’t seem to be a huge amount. So how many movements does EU jet have on a typical day at Manston?

[Lite]

I too would be quite interested to know about whether people think that EUJet are effectively marketing themselves, and also whether anyone has flown with the airline, or flies for EUJet and knows anything about their service onboard?

[Taildragger]

Jes...
Hi again. So you say that the respondents who are negative about MSE should "give it a chance" Mate it aint my money and they can have all the chances they want, and you say "get back to running your own companies" OK fair enough...that's the daytime job. Good on 'em for trying. If people didn't try we would never have all the carriers that are mega.....OR all the carriers that went bust, or dividends for all the merchant bank shareholders.!!.
Just want to say though, with all the bitter experience of me having swum in several ponds full of many sharks, and being bitten by a few, that Manston is just not in the right place, or anywhere close for that matter. Just because you want it to succeed, is not enough. There needs to be more.
1. Location, 2 Passengers, 3. Location, 4. Facilities, 5 Location,
6. Catchment Area, 7 Location ....and so on.
Someone else mentioned flights Manston to Jersey...very convenient for the folks who live in the Isle of Thanet, and the local Travel operator over the years has made a (Very) modest profit out of operating flights to JER although most of his money was made from the Hotels he was involved with, the flight being a means to an end. certainly it was all a couple of flights a day saturday and Sunday maximum, so no big money there then.
So you good people who are promoting Manston, as I say, wishes are not enough.... I, and others have said why it wont work, let me do an Alan Sugar and have you tell US why it will work, and please, No Jersey Flights, No cargo Flights, No wishful MSE to Florida Flights...just tell us Why it will work.
Oh, by the way, one other thing, can you tell us why passengers will pass Heathrow and Gatwick to battle their way along the M2 and A2 to get to MSE, or around the M25 to do a similar thing.??
Thanetonians will be happy to fly to Majorca on a saturday or Sunday and back a week later, but who else will.??
Come on folks shoot me down in flames ..... PLEASE. But with Facts. I would LOVE to be wrong, but I wouldn't if I were you, gamble on it.!

[Nakata77]

TAILDRAGGER

HERE HERE!!!!!!!

Lets all make sure that our wish to see MSE thrive is based on facts and facts alone.

I for one don't think the facts are strong enough for sustainable growth.

[The Real Slim Shady]

Nakata, Taildragger,

You want to let facts cloud the issue?????;)

A first for Pprune!!;)

[airhumberside]

There is a thread in Freight Dogs about BA moving some/all cargo ops to Manston

If this happens it would be good for MSE

[Taildragger]

airhumberside ...
Currently all BA non belly hold cargo ops are either carried on trucks over the channel for near european destinations, or ex Stanstead via GSS on the 747-400 ops. What is their reasoning behind a move.??

[Oshkosh George]

Do you mean facts like"EuJet finsished" (sic) ?!?!

[GVAirlines]

A fact would be a first on PPrune! Opinions have always been the basis of any post on Pprune, and people's love of seeing things fail. I hope EUjet don't, and I wish every airline, or any company in that matter, who try something different to work out as best they can. It must be very demorilising for staff of start ups to log on and see what others who sign up under false names, me included, want to say to get a bit of notice as nobody else will listen to them!! Ryanair was going down the pan in the late eighties and I remember ALOT of people saying that they wouldn't last, Easyjet the same!! With the recent £30m investment and the cuthroat nature of Martin May, EUjet have a chance. Fact: EUjet have a catchment area of 2 million where it is easier to drive to Kent than go to LGW and a lot cheaper! Fact Cork Airport has a catchment of 200,000 with over 2million pax a year. EUjet predict 500k pax by September 1st, a year after starting.

BTW I heard the same rumours about BA and Kent!

[Taildragger]

GV .... Time will tell. The difference of course is that Easy Jet and Ryanair are not based at MSE. If EU Jet break out of there, then they have a good chance.
Its definitely not a question of wanting to see others fail... that is not the point.....just because people make adverse comments does not invalidate their views...they are every bit as valid as the positive ones.

Tell you what, if EU Jet are still going strong in 18 months, the beers are on me, otherwise, they are on you, AND I will publicly admit (Happily) on this Forum that I was wrong... if you will do the same. .... Deal.?? :ok:

[GVAirlines]

Deal!!:ok:

Same was said about STN, than what is being said about Kent. I remember- woo sound like an old man now!! :ugh:

From what I've heard we will see alot of exciting projects roled out by EUjet in the next few months, watch this space.

Just checked EUjet.com, they have a seat sale running- like everyone else- fares starting at 75p. MOL are you watching??

:ok:

[Taildragger]

GV ... You are on....but just don't believe everything you read in the newspapers, particularly in the Thanet Thunderer.
TD

[GVAirlines]

Don't worry i don't and if I were in Thanet I wouldn't believe the local rags anyway! :yuk:

As I said watch this space!

[Jes]

From this morning's Motley Fool, relating to the legal tussle over Lahr Black Forest.

The Administrative Court in Mannheim decided yesterday to reject the verdict of the government committee in Freiburg. The government committee in Freiburg must take a new decision now.

This means that the way is almost free for the requested passenger licence.

Axel Grossmann, the managing director of Black Forest Airport Lahr, said yesterday that the planning for flights to Mallorca and Kent will start soon.

[Taildragger]

Jes....

I don't (And won't) labour the point from now on...but it's NOT at the other end the problem is, but at the end of the road to nowhere ie: Manston/Ramsgate/Broadstairs/Margate.
So if they open up the route Much Binding in the Scwarzwald to
South East Kent, does the great British Travelling Public really care.?? As I say, prove me wrong and I will be delighted, yea ECTSTATIC, to proclaim my ignorance, but somehow I think my sackcloth and ashes will remain in the cupboard...but hope spings eternal......

[GVAirlines]

Wait and See!! :D

[airhumberside]

I see Planestation no longer have any involvement in Baltic Airport

"Parchim District Authority takes over administration of the airport and dissolves British Plane Station Group."

From airport website

[serko]

if figures are distorted go here for info http://www.eujet.com/EN/corporate/news.asp

EUJET OPERATING REPORT - JANUARY 2005
Detailed below are the EUjet passenger statistics from Kent International Airport and Shannon Airport for January 2005.

OPERATING DATA
January 2005 December 2004 + / -
Passengers (1) 30,863 35,381 -12.8 %
KIA % of Passengers 91.3 % 95.5 % -4.2 pts
Flights Operated 820 758 +8.2 %
Flight Cancelled 1.7% 1.4% +0.3 pts
Load Factor (2) 38.1 % 43.4 % -5.3 pts
Monthly Bookings (3) 50,729 23,202 +118.6 %

Highlights (as of Jan 31st 2005):
- EUjet has now flown 140,843 passengers since scheduled services began in September 2004.
- Monthly bookings increased to a new high of 50,729.
- Total net bookings since commencement now total 227,760.
- The most popular destinations from KIA in December were:

UK EDINBURGH
EUROPEAN CITY BREAK / BUSINESS DUBLIN
SKI GENEVA
SUN MALAGA

Comments by Stuart McGoldrick, Group Commercial Director
“Whilst January is always going to be one of the weakest months in the calendar year from a flown operating performance, it is very encouraging to see our monthly bookings figure take a substantial leap forward and show a 118% increase.”

(1) Represents the number of earned seats booked on flights departing in the indicated month. Earned seats also include seats provided for promotional purposes and staff for business travel.
(2) Represents the number of passenger miles booked to be flown divided by the number of available seat miles.
(3) Represents the number of net passengers segments booked within that month.


--------------------------------------------------------------------------------

EUJET OPERATING REPORT
DECEMBER 2004
Detailed below are the EUjet passenger statistics from Kent International Airport and Shannon Airport for December 2004.

OPERATING DATA December 2004 November 2004 + / -
Passengers (1) 35,381 31,307 + 13 %
KIA % of Passengers 95.5 % 94.1 % +1.4 pts
Flights Operated 758 707 + 7.2 %
Flight Cancelled 1.4 % 0.99% + 0.4 pts
Load Factor (2) 43.4 % 42.0 % + 1.4 pts
Monthly Bookings (3) 23,202 23,873 - 2.8 %

Highlights (as of Dec 31st 2004):
- Passenger flown continue to grow month on month and are up 13 % on the last month.
- EUjet has now flown 109,980 passengers since scheduled services began in September 2004.
- Total net bookings since commencement now total 177,021.
- The most popular destinations from KIA in December were:

UK EDINBURGH
EUROPEAN CITY BREAK / BUSINESS DUBLIN
SKI GENEVA
SUN MALAGA

Comments by Stuart McGoldrick, Group Commercial Director.
“We are encouraged by the continued improvement in our operating statistics. Passenger numbers increased by 13% and although the Christmas holiday period effected bookings, we are pleased that over 177,000 bookings have been made, after only four months of operation.”

(1) Represents the number of earned seats booked on flights departing in the indicated month. Earned seats also include seats provided for promotional purposes and staff for business travel.
(2) Represents the number of passenger miles booked to be flown divided by the number of available seat miles.
(3) Represents the number of net passengers segments booked within that month.

[loveJet]

This is interesting. I'm surprised they release this information in such a detailed manner.

It seems that EUJet are more concerned about what business they 'will' be getting rather than the business they are currently doing. That makes bad business sense in all strains of thought.

However its good to see detailed info like this being released and hopefully the surge in bookings wasn't just caused by the slashing of yields.

[tolosan]

Since PlanetStattion is the owner of Manston, are they obliged to accept competitors such as EasyJet or RyanAir operating at Manston ?

[The_Bean_Counter]

Sharp decline in bookings taken in February and while load factor is up it appears as if the number of flights cut from the schedule helped that in a big way


18 March 2005
EUJET OPERATING REPORT FEBRUARY 2005

Detailed below are the EUjet passenger statistics from Kent International Airport and Shannon Airport for February 2005.

OPERATING DATA

February 2005 January 2005 + / -
Passengers 32,166 30,863 +4.2 %
Flights Operated 637 820 - 22.4 %
Flight Cancelled 1.25% 1.7% +0.45 pts
Load Factor 50.49 % 38.1 % +12.39 pts
Monthly Bookings 28,754 50,729 -44.3 %




Highlights (as of Feb 28th 2005):


Planned seasonal adjustments in route frequencies reduced number of flights
EUjet has now flown 173,009 passengers since scheduled services began in September 2004.
Load factors improved to over 50% average.
As is industry standard, bookings were weaker in February.
Total net bookings since commencement now total 256,514.
The most popular destinations from KIA in February were:
UK EDINBURGH

EUROPEAN CITY BREAK / BUSINESS DUBLIN
SKI GENEVA
SUN MALAGA

Comment by Stuart McGoldrick, Group Commercial Director, EUjet


“February is hardly the most inspiring of months for an airline and because of this I am particularly pleased to announce improvements in total passengers carried and in average load factors throughout the month.”



Indeed

[dinsdale]

latest figures from their web site

EUJET OPERATING REPORT - MARCH 2005
Published 18 April 2005

Detailed below are the EUjet passenger statistics from Kent International Airport and Shannon Airport for March 2005.

OPERATING DATA March 2005 February 2005 + / -
Passengers (1) 29,642
32,166
-7.8%
KIA % of Passengers 91.4%
94.4%
-3.0 pts
Flights Operated 495
637 -22.3 %
Flight Cancelled 3.2% 1.25% +1.95 pts
Load Factor (2) 55.2% 47.7% +7.5 pts
Monthly Bookings (3) 35,083 28,754 +22.0%


Highlights (as of March 31st 2005):
Load factors have increased by more than 15 percentage points in the last two months.
EUjet has now flown 202,651 passengers since scheduled services began in September 2004.
Total net bookings since commencement now total 291,597.
The most popular destinations from KIA in February were:
UK EDINBURGH
EUROPEAN CITY BREAK / BUSINESS DUBLIN
SKI GENEVA
SUN MALAGA

[LGS6753]

March included Easter, so this was a pretty dire month for EU Jet. How much longer can it last?

[northfront]

VGH remains with its opinion
Airfield: Leipzig decides





LAHR (BZ). The attorney of record one in the procedure around the air traffic-legal permission of the airport Lahr, assigned by the country, justified the complaint within the prescribed period against the nonadmission of the revision on 27 May. The 8. Senate administrative court Baden-Wuerttemberg (VGH) considers however also with consideration of these 65-seitigen reason the conditions for a permission of the revision against its judgement further not given, is called it in a press release of the VGH from yesterday. It did not allow therefore to the complaint and the documents the Federal Administrative Court in Leipzig for decision did not submit (resolution from 3 June 2005, az: 8 S 2004/04).

[Alan Tracey]

Article in the Liverpool Echo stating that PlaneStation have sold the 'old garden festival' site on the banks of the Mersey for £10 million.

The money will be invested in the company's other assets i.e the airline.

[caa19]

more eujet bashing...

just had a look on www.planestation.com for the april pax stats, but hasnt being updated since end of april and pax data only available to march

any news on whether things are getting better post launch of the summer shedule and further ditching of routes?

[MarkD]

northfront

what does all that germlish mean?

[northfront]

Im not 100% sure, but I think it means that as far as objectors are concerned, that there are no grounds to deny the application for the passenger licence.
The article was from :

Newspaper of Baden
of the 06.Juni 2005

and was copied from the

http://www.flugplatz-lahr-bi.de website.

This website is maintained by anti Lahr nimbys

their goals are listed below:-
Goals

Information and clearing-up population concerned and of the interested.
Pressing and public work.
Observation and control of the flight activities
Information of the interested restaurant politicians and decision makers.
Monitoring of the environmental regulations of the airfield Lahr.
To remain the regional protection of interests of the aircraft noise opponents.
All interested one and decision makers make clear that a further aeronautical use of the airfield harms the economic situation Lahr.
Prevention of passenger flight starting from Lahr
Northfront

[northfront]

First Choice Airways have arranged a day trip from Manston to Lapland.
The start of more joint business???
from the manston website.

http://www.kia-m.com/pdf/day-trip.pdf

northfront

[airhumberside]

Looking good for Manton then.

Why has planestation's share price fallen so rapidly recently?

[Runway 31]

A one off Santa flight is not going to make a lot of difference.

[northfront]

perhaps not - but why are first choice even interested in manston? they must see a profit in the venture
northfront

[pamann]

Transun Travel show two departures also to Lapland over the Christmas period in their brochure.
Why don't someone like First Choice introduce a Tenerife or Cyprus flight? I reckon a route like TFS/PFO/LCA could work.
If I remember rightly when Aspro Holidays was independent they used to operate with Inter European Airways in the early 90's from Manston to Palma, Heraklion & Larnaca if my memory is correct. And Olympic Holidays used to route LCA/MSE/NWI/LCA before they changed ownership back in the 90's.

[Flap43]

rumour has it that the pilots are unhappy! pay is disgustingly low!

[Nakata77]

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...

[anna_list]

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_Bean_Counter]

Last one out turn off the lights

[anna_list]

There may not be any lights to turn off if the "further asset disposals" continue.

[averytdeaconharry]

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.

[Jes]

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.

[airhumberside]

Today Financial Mail (Mail on Sunday) says EU Jet is talks with a tour operator to fly to the Canaries, Egypt and Cyprus

[WOWBOY]

NEW Saturday service DUBLIN-GENEVA!!!!!!!!!

[The Real Slim Shady]

Air humberside,

Has anyone told the tour operator that an F100 won't make it non stop to those destinations?

[airhumberside]

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

[Andy_S]

Has anyone told the tour operator that an F100 won't make it non stop to those destinations?

The article in the MOS was a bit sloppily written; in actual fact, I think what it meant to say was that Planestation, the owners of both Manston Airport and EUjet, were in talks with a tour operator to fly to these destinations - i.e. they would be flown by the tour operators aircraft rather than EUjet.

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?

[Kiwi red]

Looks like there is going to be a Shannon base. Fuel prices are not helping the company, suspect a lot of tankering will be going on from other airports.

[The Real Slim Shady]

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 (http://www.hemscott.com/equities/company/forecast/fc00686.stm )

[PPRuNeUser0172]

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?

[fj1]

The share price has always been poor, it only went up when EUJET first started, its been side back every since.

[airhumberside]

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?
I thought EU Jet had sold most of their non-aviation property

[fj1]

They have !!, but still have a few bits left

EUJET is owned by PlaneStation. PlaneStation Own/Operate a few airports in Europe, plus a few bit left over from the wiggins days.

[The Real Slim Shady]

fj1, the share price was 633p in 2000, dropped to 120p 18 months ago and has plummeted in the last 12 months.

Hardly "always low".

[Flap42]

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.

[Nakata77]

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.

[The Real Slim Shady]

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.

Flaps42,
Let's deal with your points in order, and of course, constructively.
I do have many things far more important, far more worthwhile and received with substantially more understanding and appreciation.

My posts, if you care to look back to the end of last year have been supportive and rely primarily on facts and not on opinion. Moreover, I have limited my remarks in the last months to PTG's performance;not EUjet's. The negativity doesn't come from me; I don't manipulate the share price. I have no control over the losses they expect to post; those figures are in the public domain as indeed the share price is.

If the facts are negative perhaps you could explain how they can be reported in a way you would find palatable?

[Flap42]

Of course if Ryanair can't manage to make Shannon viable, EUjet will step into the breach and waste another sack full of cash discovering that they don't have a magic wand.

Slim,

Thank's for the promp and constructive reply! I just found the above quote to be of no use to anyone.

[The Real Slim Shady]

Flaps,

If EI run only a single short / medium haul route from SNN to LHR and Ryan are planning to move the bulk of their operation from SNN to ORK, because they cannot generate sufficient pax numbers to make the operation viable, which magic wand will PTG / EUjet wave to change things? Where will the pax come from? Is the plan to go head to head with Ryan to STN? Or compete to MSE? Or do point to point?

I can book a seat with EI to LHR for about €39; I can even get it cheaper with Ryan to STN. I can then book onward travel very cheaply or get to London easily if that is my final destination. Importantly, I have a choice of carriers from LHR and STN.

Ryan could give the seats away; they have a huge cash reserve. EI can compete on price, they are profitable. How would PTG compete against that, never mind trying to find customers. But if Ryan don't see it as workable and EI have one premium route......................??????

Tell me, what are your own estimates for the breakeven and yields to make that work? Is fuel cheaper or more expensive at SNN than MSE? Was the business model based on oil at $60+ a barrel? Are there hedges in place? What market segment will the company operate in? Who are it's main competitors? What is the USP? Has MR been completed? Have you seen the results? Explain how SNN will work for PTG when it doesn't for the others.

Reality is, at times, a harsh concept: PTG have thrown close on £20 mill at Eujet in the last year through asset sales. Once all of the family silver has been sold what will they use to prop up the group? Look at the share price. The financiers estimate the cash will run out in September / October: thats not my estimate, I'm simly reporting the facts.

Remember....don't shoot the messenger.

And, Flaps, I have no wish to see you, PBD or anyone else out of a job; it's better to forewarned about the finances of the parent group than to be caught unawares should the plug be pulled.

Edited to add:

Flaps these are a quotes from another forum:

The CAA figures show an average of 30,000 pax per month, and after 10 months of operation that amounts to 300,000 pax, does anyone seriously expect them to carry a further 300,000 in the next 2 months, lets get real, they havn't a hope in hell of reaching 600,000 let alone the 900,000 they need to break even.

and this:

But the real-life facts are that they rarely if ever achieve 100 pax per plane, average over the year is about 40%.

and:

£35m losses for last year £25m in debt again and this with the cash injection in Jan of some £58m? give us a break I'm sure that given £58m in jan I would not be looking at a £35m loss with a further £25m of debts.

and I leave you with this:

Standby to pull the yellow and black handle!

[Jes]

Don't post quotes from another forum as though God has spoken: the source is not too good with data, and is just another of those that love to knock.

EUjet aren't running from Shannon to the UK. They're making good money on the sun routes (and even the Manston one) and are expanding by starting Shannon - Amsterdam and Shannon - Geneva. I don't believe that Ryanair is too popular with the people that live in the Shannon hinterland.

[MarkD]

Are EUJet likely to do any kind of codeshare with KLM (they do operate Fokkers after all), or would that lead to a sense of humour failure at EI given their codeshares at DUB/ORK?

[The Real Slim Shady]

Jes

Figues for April show 28379 passengers by other EU scheduled passenger carriers on 737 movements at MSE. This differs by around 4000 seats compared to the figures on the company website, however, the figures on the website include promotional and staff tickets and are booked, not actually travelled.

Average of 24.5 flights per day out and in, 38.5 passengers per flight;if those are on a 108Y F100 the LF is approx 36.8%.

If those figures average out over 12 months around 340 000 pax. Allowing for a 60% increase during the peak months Apr - Oct a total of approx 425 000 pax.

The website figures appear to show a total pax number of around 343 000 since September last year: average of 34300 pax per month. Forecast annual total on that basis, 411 600.

I would agree that numbers / statistics are easily manipulated, but I don't believe that you will be able to dispute the PTG results later this month.

[nipplesucker]

Slim wake me up when you have finished ZZZZZZZZZZZZzzzzzzzzzzzzz

[The Real Slim Shady]

Your concern for the jobs of your colleagues is overwhelmingly selfish !

[lyo]

EUJet, the truth is out there:

EUjet (VE/Shannon) will launch five times weekly Fokker 100 service from Shannon to Amsterdam on October 31 when it will also transfer its Shannon-Murcia route to Alicante. EUjet will also add three times weekly seasonal service from Manston to Innsbruck as well as a weekly Dublin-Geneva flight in mid-December. It will however give up its routes from Manston to Girona, Murcia, Nice, Palma de Mallorca, Shannon and Valencia and from Shannon to Faro and Palma de Mallorca by the end of OctoberIt will however give up its routes from Manston to Girona, Murcia, Nice, Palma de Mallorca, Shannon and Valencia and from Shannon to Faro and Palma de Mallorca by the end of October

[Jes]

Thanks for reprinting the CH-Aviation news item

"EUJet, the truth is out there:

EUjet (VE/Shannon) will launch five times weekly Fokker 100 service from Shannon to Amsterdam on October 31 when it will also transfer its Shannon-Murcia route to Alicante. EUjet will also add three times weekly seasonal service from Manston to Innsbruck as well as a weekly Dublin-Geneva flight in mid-December. It will however give up its routes from Manston to Girona, Murcia, Nice, Palma de Mallorca, Shannon and Valencia and from Shannon to Faro and Palma de Mallorca by the end of October."

You didn't mention the return of Geneva and Salzburg flights, or that Belfast and Newcastle are doubling in frequency. Those "given up" are seasonal routes, most of which will restart next Spring. Some cuts have been made, but I'm pleased to see the company focussing on making money.

[colegate]

Based on the figures that have appeared in this thread it is hardly likely that EUJet are concentrating on making money because that implies that they are making a profit and look to be making more. They are much more likely to be concentrating on conserving cash and that is called survival. Making money comesa fater you have achieved survival.

Some of the routes that they are scrapping do well from other airports in the winter months. So why are they not doing well from MSE?

[Jes]

More from CH-Aviation

easyJet (U2/London Luton) will give up its Dortmund-Nice route by the end of October.

Monarch Airlines (ZB/London Luton) will give up its Birmingham-Faro and Manchester-Naples routes by the end of October.

Ryanair (FR/Dublin) will give up its routes from Frankfurt Hahn to Klagenfurt, from London Luton to Dinard and from London Stansted to Klagenfurt, Nimes and St. Etienne by the end of October.

CSA Czech Airlines (OK/Prague) will give up its Prague-Glasgow Intl route by the end of July and its Prague-London Gatwick flights one month later.

The defence rests, your Honor.

[colegate]

Jes,

Ryanair are still advertsising all those routes as being available throughout the winter.

[Powerjet1]

They might be advertising them but they are not bookable.