PDA

View Full Version : DAT Restructuring About to Fall Apart?


The Guvnor
9th Jan 2002, 20:34
<a href="http://www.echonet.be/actu/lipagefr-es.html?ni=2002010936060" target="_blank">This article</a> from L'Echo says that the Walloon (Francophone) government intends to pull its €16m out of the DAT refinancing if its demands (including the lion's share of jobs for Walloons) are not met.

In addition, he said on Belgian TV at noon today that the regional government had spent quite a bit of time analysing the project and that their final decision about the funding would be much less emotional than a month ago when Sabena went bankrupt.

At the same time, DAT wants to know where it stands with VEX by the 15th January (the deadline imposed by the Brussels Commercial Court for DAT to come up with all its financing and a revised, viable, business plan). VEX have said that they will require until March at the earliest, and are known to be very unhappy with DAT demands that their 737s (and the crews) be dropped in favour of Airbuses and current, ex SN crews.

Several of the corporate investors have made it known that if VEX does not come to the party, they will also withdraw their financing.

In another analysis, the two man who took it on themselves to 'save' DAT (Lippens and Davignon) are apparently now realising they have embarked on a 'mission impossible' and are now concentrating on trying to save their personal reputations.

Also very noteworthy that neither the Belgian Prime Minister nor the Minister formerly in charge of Sabena are speaking about DAT any more - whilst a couple of weeks ago, they couldn't stop making jokes about how clever they were and how well they prepared everything for the new DAT for take off. The Prime Minister even said in a press conference at the time: "I have done everything I can, the only thing left is to fly the planes myself, you don't expect that from me do you?"

It's very interesting that despite the well known and documented pressure and incentives from the Belgian government (such as tax incentives, guarantees, priority in government tenders etc) they have been unable to twist enough arms to raise even the relatively small amount they are after - which according to consultants is in reality 60% less than they will actually need for long term viability.

Meanwhile, VG Airlines have contracted for the lease of three A330s from ILFC, and intends to start operations to the United States on the 1st March.

However, VG Airlines intends to effectively take over DAT (which itself assumed the route licences, slots and other licences of Sabena) and operate intercontinental services; whilst European and regionals services would be operated using VEX's AOC.

If the DAT plan falls apart, this will mean the liquidation of the Sabena Interservice Centre (SIC) and the various Sabena Group companies, including DAT and Sobelair.

Freddy van Gaever, the CEO of VG Airlines, will doubtless try to buy DAT from the liquidators but it is likely that this move would be blocked by the Walloon government as van Gaever was a major funder of the extreme-Right wing group, the VMO, in the 1980s.

To set up a new airline from scratch, and obtain an AOC, Operating Licence, Route Designation and US DOT402 will take at least a year.

Meanwhile, also in Belgium, BeCA has dropped its Siverair plan and a group of members are looking at setting up a cargo operation with MD11Fs (of which there are none available) and another group is looking at an employee funded company operating Airbuses within Europe.

FL310
9th Jan 2002, 22:20
The word is spreading fast that the unions have received the news about DAT to return 12 Avros in the very near future.....
<img src="eek.gif" border="0">

skysheriff
9th Jan 2002, 23:18
Dont worry
Ryanair is recruiting, Dear Mr. Guvnor
It will only cost you 50 to apply + 300 for the sim check + 15000 for the type (i presume you dont hold the type). But in fact since you already work for MOL anyway, you probably have got a warm rhs awaiting you.
This will not change you much from your days in africa.

The Guvnor
10th Jan 2002, 00:01
An article in today's Flemish newspaper "De Morgen" states that Mr Freddy Van Gaver was considered by the Belgian Civil Aviation Authorities as "a cowboy".

It says that the Belgian Civil Aviation Authority is not prepared to grant him any licence for as long as he doesn't meet the authority's requirements (including a full business plan, which van Gaever claims no entrepreneur requires) and moreover that even if VG satisfies these demands the process would take much longer than 2-3 months.

The Belgian Aviation Authority also said that "Mr VG" was not an exception to the rules applied to everyone wishing to launch a new airline!"