How's life at Transmile???

[MJPilot]

>Defaulted in the payment for its 1% Guaranteed Convertible Bonds due 2010<
http://www.transmile.com/index.asp?id=66&im=news_d


"At the same time, TGB is pursuing the disposal of its 4 MD-11 aircraft to raise cash for the repayment of its outstanding borrowings which were raised to purchase the said aircraft."



I wonder what happened to all the MD-11 crew ... and the B727??? :rolleyes:

[ZFT]

The MD11s have gone already.

[NotHere]

I wonder what happened to all the MD-11 crew ... and the B727???

Spoke to a chap down here the other day and most of the Commanders are now flying the Red Buses while others are cruising with the Queen of Sky.....:ok:

Few SFO got upgraded and the rest will be starting their course soon.....:O

All the best to them & Happy Flying!!!

[CTM1394]

What had happen to the expat crews? Captain 727 and FOs md11?

[MatRempit69]

Does it matter?

Best wishes! Happy landings to all! :ok:

[squarecrow]

Some of the expat 727 crew were tricked to some outfit in BKK cos d locals refuse. They are all moving on I hear.

[Rock_On]

Anybody know where the MD-11s have gone? Rumor has it that UPS has purchased them, but nobody seems to know for sure.

[essentialbus]

There not gone yet.

Was at Subang Sunday and saw four MD11 parked.
Heard the rumor that UPS bought them, checked around in my circles,
apparently not true.
Asking price of Transmile is around USD. 45 million each, according to press releases. It would take a David Copperfield to obtain a price like that.
15 MM would be more ballpark. And if they stay longer parked in the harsh Malaysian conditions, you could write them off completely. Maybe sell the engines for 2 mm each, and thats it.
Wondered why they did not ferried them to Arizona desert for conservation.

This is what you get when HongKong Money Men try to run an airline with no concept to back it up. Money alone is not enough. It needs industry inside knowledge and appropriate funding, not just throwing good money to bad moiney, as have been the case in this sorrid affair.

Transmile is stuck with about 9 gas guzzling 727 freighters and a death sentence on the sale of their MD11's.
Look at the stock price and you see there is no hope.

Dont want to be in their shoes right now.

Regards
E.B .

[kwaiyai]

It wasnt the HK Money man. It was a certain CEO pulling wool over the HK eyes.
He was given sound advice too by an advisor but yet still bought the MD.
The CEO in Ques I thought was grounded in MY yet has been seen in HCMC,:yuk: