Jetcraft in Voluntary Administration

[D Foster]

Ladies & Gents,

It is with deep regret that I announce that Jetcraft has today been placed in “Voluntary Administration”.

This afternoon Ian appointed Jonathon Macleod of Macleod Partners as the Administrator of Jetcraft.

Ian has taken this action in order to stabilize the business, restructure it and ensure a fair and equitable result for all stakeholders.

I am happy to advise that Jonathon Macleod has this afternoon secured the support of key stakeholders and that the business will continue to operate a full network under “Voluntary Administration”.

This decision has not been taken lightly and Ian, Tom and myself have explored all possible avenues to avoid taking this action. It is now clear to us that this course of action is in the best interests of all stakeholders.

I would like to thank all our staff who have continued to ensure that Jetcraft meets and exceeds the high operating standards we have set for ourselves over the past 17 years.

In recent times we know this has become more and more difficult, and we are impressed by the levels of dedication and professionalism we see in our staff.

Ian, Tom and myself very much appreciate your efforts and we are acutely aware that it is your efforts that will give this business the best chance of succeeding in the months ahead.

Over the past twelve months Jetcraft has faced more than its fair share of commercial adversity, starting with the failure of a large client and ending with the grounding of our C441 fleet.

Coupled with our long term diet of low fat revenue, these setbacks have been too much for the company to bear.

This is a bloody shame – but I am very sure that Jetcraft will emerge stronger from this process and will keep operating for another 17 years.

Those who understand our business will know the key role it plays in all of our clients' infrastructure. Alot of people need Jetcraft to continue to operate and a lot of effort is being made to ensure this happens.

I would urge those people who were considering applying for pilot positions to keep applying.

I have every confidence that Jetcraft will continue to operate into the future.

There are a lot of ex Jetcraft pilots here on PPrune and some of them even remember their time with us fondly :} I'd ask you all to have a quiet beer in support of the 100 families who rely on Jetcraft for a living.

Thank you very much.


Danny Foster

[Lefthanded_Rock_Thrower]

Danny, it is a pleasant suprise to see a manager that is open and direct, even under such circumstances, treating staff with respect is a rare commodity in this industry.

Good Luck.

[virgindriver]

I hope things turn out for the best. Be a real pity to see another company close up. Keep at it Danny.

[Metro man]

All the best, you managed to keep going after Ansett folded, you can do it again.:ok:

[bizzybody]

Very Well said Danny.
im sure that if there was anything the Pprune members could do we all would.

[Howard Hughes]

Another company that has been apart of so many lives in administration!

I wish them all the best and hope for a speedy return to independant operations!:ok:

[Skystar320]

Forgive me for being in the west

Dont they Jetcraft have majority of cargo contracts? Just eactly what do they do?

[Thai997]

Thats not the same Tom that used to be involved with a failed NSW bank & jockey run operation is it ?!

[realitybites]

Jetcraft is a great place to work as far as im concerned. I have enjoyed working here for the last 12 months.

I have found our last three CP's to be great, and I fail to see where any one of them comes into this situation.

I really hope that in one way or another things work out for the best, and we all (or I at least) can continue working for the company.

[18-Wheeler]

I was always treated very well indeed at J'craft, it was one of the best jobs I ever had.
Sorry to see they're in a spot of bother, I wish them the best.
Bill Sherwood, Metro 2 driver 1995-1997.

[Stationair8]

Love or hate them, Jetcraft have given plenty of people a start or that valuable turbine time that one need's to move up the food chain.
Is Nigel Peart still the CP?
Shame these things always tend to happen Christmas time.

[3 Holer]

Couldn't agree more Bill. By the way, you still flying with Air Atlanta?

[Sqwark2000]

Nigel Peart, i think, is in NZ line training on the ATR72 with Mt. Cook if that's the same dude.

I'm vaguely aware of jetcraft, but isn't it the freight operation of ******? If so, is ****** at risk?

S2K

[tail wheel]

No. It is nothing to do with ******!

[Bendo]

:rolleyes:

:uhoh:

[edit] Danny I like many others am very sorry to see it come to this. Best of luck! :ok:

[kimwestt]

Thai: Yep - the one and the same Tom D - he seems to turn up as the common denominator - still owes plenty around BK

[Bendo]

Thanks mate for the interesting PM.
Looks like I am not the only one who has that particular opinion of the chap referred to above.

[SmokingHole]

Isn't Tom D tied up with mac care these days?

[Mr. Hat]

what is " ** ** *********". am i missing something?

[spider331]

Sorry to hear about this.

Thoughts with the employees and their families - just before christmas. Not nice being made redundant, been there done that - not nice.

The industry is booming so heres hoping things get going in hurry for all concerned.

[drugs detected]

Ian, Danny and the entire Jetcraft family,
Best of luck getting through this. There's not usually a day that I don't think of how wonderful my time was at Jetcraft and how great the flying was. You put heaps of trust in me over the years and gave me many opportunities to get where I am today. Flying jets is great but I really do miss having Friday bbq's with Chief cook Dave!
I have nothing negative to say about Jetcraft and that is saying something as I was employed by you for over 6 years. Thanks for paying me every week, i assure you that was better than my Father!! Get some A320's and I'll be back tommorrow......
Cheers Jockey Jnr and Family
P.S Greatest memories M23 photos Bribie Island and final YBAF low level pass. Any chance of M23 print?? :ok:

[Stationair8]

Sqwark 2000, thanks for that.

Has Nigel Peart moved to New Zuland to work Mt Cook or line training for Jetcraft?

Nigel is top bloke helped out when I first started commercial flying. He used to tell the boys at the pub that he married a former Penthouse pet.

Are Jetcraft still doing Tolls work?

[cnic]

Is Mac air some how connected to jetcraftt and if so what does it mean for them? can anyone shed some light on this.

[arelliot]

Tom D is not to my knowledge associated with ******. There is to understanding no current association between the two companies.

[Socket]

I'm guessing liquidation isn't to far away. Just like O'Conners this morning. I can't recall to many airlines recovering from administration.:(

[bizzybody]

So did oconnors actually get liquidated????? no body wanted to buy it?

It depends on how much they owe and if the creditors will accept a payment arrangement or a % of what they are owed. Hense a DOCA
Wow i would have thougt it would have sold.

I think that Jetcraft will get sold under a DOCA.

[Skystar320]

Deed of Company Arrangement

[realitybites]

For those who continue asking the questions,

Jetcraft has not been a part of ****** for some time, no.
Jetcraft services a big part of the Toll freight network.
Jetcraft also operates some pax charter runs.

Jetcraft Staff are still employed by the administrator until further decisions are made, and we are all told the future looks promising.

[Stationair8]

Did Jetcraft use the Conquest's for freight or passenger?

[Down & Locked]

Hi Stationair8,

The Conquests have been parked outside of the Boeing hangar at Bne for several months, and before that at Archerfield. Cessna has issued a SB stating that they won't guarentee their airworthiness beyond about 22000 hrs, so they're indefinitely grounded by CASA. To answer your question, they were used by Jetcraft to service FIFO runs into northern SA mining sites and some bank run work as well.

I'm with Jetline Engineering, and used to help maintain these a/c but we're all now wondering whether to stick around and see how this all unfolds or try to look for work elsewhere.

I love working at Jetline, but have to look after my family first and foremost I suppose... so we'll see...
:)

[BAe32EP-Chief]

It will be interesting to see where TOLL would take the contracts if Jetcraft go under

Could we see a couple of new operators popping up doing night freight?

[goddamit]

Jetcraft has given a lot to the industry. Many I have known have gained promising careers assisted with the time they have had at Jetcraft. Also Jetcraft have given many their 'leg up' in the industry. Myself included. Thank you Ian, Danny & the Jetcraft team, wishing you all the best through these challenging times, & particularly at this time of year. Merry xmas to you & your families.
sincerely, David Drummond '99-'01

[Bendo]

I find it interesting that Jimistar has only just popped up on PPRuNe BUT has been so busy on Jetcraft topics.

I've had a few interesting PMs from Jimistar myself on this topic.

Jimistar you sound suspiciously like cruze power to me :hmm:

Back when Cirrus bit the dust you... oh sorry Cruze Power... sent me a number of similar PMs along vaguely threatening lines in exactly the same manner.

You're good. You're really good. :D

[Driscoll]

Don't want to get involved in a slanging match but to me PM's are PM's. Often times sites like this rely on anonymity, discretion etc. IMHO poor form to repost PM's here under an alias. I'm pretty sure if people don't post it publicly there's a reason. By all means challenge someone to repost publicly but don't repost PM's.

[Socket]

To Jimistar who has chosen not to recieve replys to his vitriolic PM's.

I wasnt scaremongering, it is a fact. I know, I have been screwed by administrators myself. If you want to stick your head in the sand go ahead. Others might be glad of a heads up on the undeniable trend of airlines ( and in fact all types of aviation company) in australia going from administration to liquidation in quick order. Of course administrators will give a rosey picture of the future. They want everyone to keep working to maintain what value is left in the company and pick the brains of staff for information on disposition of assets etc, BEFORE SELLING IT.

Can you give me any examples of recovery?

[Stationair8]

Rule #1 never trust the administrator,they are their to look after their interests so they can get the maximum dollars for themselves.

Rule #2 make sure you know what you are actually owed by the company to you ie as in wages, holidays, superannuation, unpaid expenses etc. Check with the AFAP or your union.

Rule #3 Administrators don't have any emotional ties to the business that they are trying to flog off or wind up, not like staff that have worked their for a period of time.

[rammel]

I think everybody who has said something negative about Jetcraft has received a PM from Jimi.

I did notice that a couple of posts I made re: Jetcraft have disappeared, I don't know why.

[tail wheel]

Just keeping the thread on track. :ok:

Posts with an IQ level < 5 or relevance rating of zero will be removed.

Tail Wheel

[rammel]

I thought my posts were on track, as they highlighted some of the dubious work practices of Jetcraft. Not to do with their safety, I never even heard any whispers of safety concerns. Just the way staff entitlements were being paid, or not paid.

[Jet_A_Knight]

From staff being told that '2008 is going to be a great year for Jetcr@ft' to the email at the head of this thread in 4 weeks?:=

Is that some kind of record?

"Absolutely" :rolleyes:

[BAe32EP-Chief]

"Absolutely" :rolleyes:


Springs to mind = Ansett

[skurgler]

"Absolutely" maybe another one which starts with A is about to follow "Absolutely":=

[777Monkey]

With the service Jetcraft provides for TOLL being an extremely important one to their network and the simple fact that TOLL does not own any aircraft at all, why should they hand over $ X,000,000.00, when they can ring other operators to take over where Jetcraft used to be???

I am sure TOLL saw this coming and have some plan or plans!!!!!

I hope all the crew fair well out of this s**tstorm!!!!

[BAe32EP-Chief]

Having breifly worked at Jetcraft during my earlier years I have nothing but praise for the company

After logging up 100's hours on the sewer pipe / pencil stick / metro I was offered a place up the ladder

At this stage I had to decline, due to certain family problems that resulted me going back to England.

A certain number of people stayed in touch with myself including upper ranks who rang me in England too see how I was going and if I ever needed to come back they would provide a position.

After cashing up, selling my late parents estate I came back down to the land of Aus - to hopefully set up a busienss of myself

I wish Jetcraft all the best and hopefully they can trade out of it, however TOLL if you need some freighter aircraft - larger than the Metro in terms of capacity and need some smaller aircraft.

P.S Drop you a line :8:8

[rescue 1]

:hmm:It concerns me on a couple of fronts the decline of operators like Jetcraft. Putting aside some of the musings on the pro's and con's of the operator, there is something not quite right, when not one but two operators (O'Connors) are no longer in business.

Both have been established for a large number of years and both have fostered and provided opportunity for a number of Prune readers today.

I read some months back an article that featured another aviation guru - Rod Eddington. He cited that the airline industry was nearing the top of the cycle.

Given the fall of these two operators, is it now 1 o'clock and aviation's day in the sun is coming to an end? If it is, it's now time to cement the future before the sun sets 'til the next cycle.

[captwawa]

one of the best GA companies ive worked for. not the best paying one but it was the best flyin i will have ever done i think..

imm sure they will pull threw it ok.

[carbon]

rescue 1, could it be as simple as both being pushed over the edge by the loss of in service C441's due to the 22k hr restriction?

[schoolboy]

I feel for all of those who now have a cloud hanging over their head in respect to the livelihood they derived from Jetcraft.

I also feel for the smaller maintenance shops who are owed money for works carried out on their fleet, and now have to join a growing list of creditors.

Maybe they were a great mob to toil for, and maybe they gave some pilots the best flying ever, but for the others who supplied services and now have to carry the debt:confused::{:mad:

[Jet_A_Knight]

Schoolboy, don't worry, there are pilots who worked for them - and some that still do - and owed unpaid entitlements - that will be carrying that debt too.

God only knows when that will be recovered.

In the meanwhile, it's a 'ghetto fabulous' Christmas for the kids.:mad:



PS Like no one saw it coming.:hmm:

[Metro man]

The government should put a tax on air tickets to pay the staff entitlements like it did with Ansett :hmm:

Seriously though, TOLL freight must move and there isn't an operator sitting around with that many spare aircraft and pilots who can take over tomorrow. I reckon either TOLL take over themselves, or the company is sold as a going concern once things are restructured., ie debts written down and someone buys it out.

Chins up everyone, at least the job market is the best it's ever been if the worst happens.:ok:

[Rostov]

Jetcraft was my best GA job. Right up untill I wanted to leave. Then I guess no one likes staff leaving.

[Marauder]

The government should put a tax on air tickets to pay the staff entitlements like it did with Ansett
Actually the government can pay most entitlements, without any additional levies (read tax). It is the GEERS scheme, which protects most award entitlements, but interestingly not Super, if a Company goes belly up, you get the boot and they can not pay entitlements.
The govy stand in line (@ the head of the queue, just behind the Administrator and the ATO) to get back what has been advanced from the liquidated corpse.
So cheer up, whilst imminent unemployment is unpleasant, at least payment of entitlements in partly protected.:ok:
Merry Xmas

[18-Wheeler]

I always got on well with IH.
(If it's the same Ian I'm thinking it is)
Say gidday for me if anyone sees him.

[OPSH24]

Very sad news to see another operator in trouble. At least crew should be able to find work again in the current climate if it all falls over.

Good luck to Danny and Foz. Hope it all works out for the best.

I was going to offer opinions on two other members of the management team who have been mentioned in these threads (including the above post) :mad: but I won't kick someone when they're down however tempting it might be.

Good luck for 2008 - hope everyone pulls out the other side.

[PCFlyer]

So ... anymore news on this?









or has it turned into a forbidden subject?

[realitybites]

For the time being, Jetcraft (under administration) may continue under administration until the parties that are interested in the business have had sufficient time to complete proposals. That is where things stand as of today.

It is possible the future will not be decided for up to 45 days.

Jetcraft play a very important role in its customers business, and there are very few, if any, companies that could fill these boots with current fleets and for anywhere near the price. Im sure in some way or another, the outlook will be positive for us involved.

Things remain uncertain for now, but Im sure the general aviation industry would be well aware if the "customer" was about to loose a very intergral part of its network, that consists of over 80 staff and 15 turbine aircraft. Im sure a very big proportion of the GA industry would be involved in getting the job done if JC was taken out of the picture, and im sure it would be well and truely orgaised by now if the future was bleak.

[Metro man]

If you've seen the clients reaction to one aircraft breaking down, or a bank run aircraft being half an hour late you will realise how important Jetcraft is to them.

Remember an attempt a few years ago to use a M3 from a different operator that didn't work out too well ?

Something must be being worked out behind closed doors at the moment. There simply isn't another operator who can step in and take over tomorrow. Pel Air are having difficulty finding pilots for their current workload let alone a huge increase.

All the best to those affected, I'm sure things will work out. :ok: