Chauffair sold?
Chauffair sold?
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KERDUNKER - it was from a decent source at Farnborough, it'll have to remain at that though.. .Have heard some more over the past week, which reenforces that it was an assets only purchase. The administrators are at Farnborough until the end of the month, I'd guess that the prospect of a sale as a going concern is too far down the river now. A great pity, there were some great people at CFR (some of which have found other work, which is good), and they certainly didn't deserve the ignominious ending that came.. .. .INCIPIENT SPIN - give me some credit please. Having read all of your posts about PPSC and SFT I can't imagine you're right in the thick of things... Chinese Whispers aren't what keep every aspect of aviation going.
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I've not heard any news recently but I think it's unlikely the company would be taken on by anyone as a going concern. Not only was there 18 million of finance left on aircraft worth about 10 there was also a £10 million trading deficit.
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ANY MORE NEWS!!??
Just wondered if anyone has heard any more about CFR??
Hope the crews got other jobs.
No more pics like this
Hope the crews got other jobs.
No more pics like this
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Gents
I heard GAMA aviation have bought Chauffair. Whether as a going concern or not, I dont know.
This is just a chinese whisper, though from a usually reliable oriental bloke!!!
Regards
NigD
I heard GAMA aviation have bought Chauffair. Whether as a going concern or not, I dont know.
This is just a chinese whisper, though from a usually reliable oriental bloke!!!
Regards
NigD
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Chauffair
Hi All
Thought a few words of clarity might help:
Not yet sold, yes there is interest but not as a going concern. Our MBO failed not through lack of commitment or sound finance. It was a good plan but we got sidelined by bigger money and perceived bank disinterest in us. (How come they couldn't stop what was going on sindrome!)
Yes we were all owed variously considerable sums and no there was not such a huge trading deficit as quoted. The total a/c value is only what someone will pay but is reckoned to be reasonable at £12m
Only 5 pilots have found jobs including another one today thank goodness and I start next Wed. Ops have all found jobs but only a few of the admin and Eng staff have.
All this heartache for the crass incompetent management and greed of the owner.
GAMA have only taken over the rental of the offices from TAG
Still bitter for all the waste of good people, a classic in how not to manage.
Thought a few words of clarity might help:
Not yet sold, yes there is interest but not as a going concern. Our MBO failed not through lack of commitment or sound finance. It was a good plan but we got sidelined by bigger money and perceived bank disinterest in us. (How come they couldn't stop what was going on sindrome!)
Yes we were all owed variously considerable sums and no there was not such a huge trading deficit as quoted. The total a/c value is only what someone will pay but is reckoned to be reasonable at £12m
Only 5 pilots have found jobs including another one today thank goodness and I start next Wed. Ops have all found jobs but only a few of the admin and Eng staff have.
All this heartache for the crass incompetent management and greed of the owner.
GAMA have only taken over the rental of the offices from TAG
Still bitter for all the waste of good people, a classic in how not to manage.
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Best wishes
Mzee, Compassion is so rare today that you deserve acknowledgement. I'm not a former employee but that's my loss. I was however an "observer" and anyone who failed to realise you and your staff's potential as a "going concern" missed a unique opportunity together with a very good PROFIT centre and a fun business to boot....If only I'd had the resources at the time......
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It's good to see you're not bitter Incipient Spin...
It's a strange one though. Only one of the aircraft, the 800, is RVSM'd and GPWS'd, the others, of which there are what, seven?, aren't. To get them all public transport-able again needs anything up to $150,000 per aircraft spending.
PWC are seeking prices for the aircraft way in excess of the market value for Private Cat. aircraft, which is what they are until the upgrades are completed, so why would you spend all the money doing that when there are cheaper aircraft available in the States.
The company's momentum has gone, the clients have gone off with the various Ops people to their new companies. Why take on such a challenge at such a time in the industry?
I was told by one of TAG's senior people, and I mean SENIOR, that it was a European operator - hence my post. WS, I seem to recall, has some involvement on the continent? I might be wrong.
Anyway, off to study for my ATPL's, just like Incipient Spin - my industry advisor...
It's a strange one though. Only one of the aircraft, the 800, is RVSM'd and GPWS'd, the others, of which there are what, seven?, aren't. To get them all public transport-able again needs anything up to $150,000 per aircraft spending.
PWC are seeking prices for the aircraft way in excess of the market value for Private Cat. aircraft, which is what they are until the upgrades are completed, so why would you spend all the money doing that when there are cheaper aircraft available in the States.
The company's momentum has gone, the clients have gone off with the various Ops people to their new companies. Why take on such a challenge at such a time in the industry?
I was told by one of TAG's senior people, and I mean SENIOR, that it was a European operator - hence my post. WS, I seem to recall, has some involvement on the continent? I might be wrong.
Anyway, off to study for my ATPL's, just like Incipient Spin - my industry advisor...
Last edited by Daifly; 24th May 2002 at 07:51.
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Daifly
The 800 is not RVSM's or EGPWS'd yet as I believe the bill for installing the equipment hasn't been paid yet, so there is an open modification on that aircraft and therefore it's grounded until it is paid.
Under the current climate that may be a while.
The 800 is not RVSM's or EGPWS'd yet as I believe the bill for installing the equipment hasn't been paid yet, so there is an open modification on that aircraft and therefore it's grounded until it is paid.
Under the current climate that may be a while.
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The story I heard was the an Australian company had bought (but not yet paid for) the 3 125's and the Engineering side. Nothing else.
From memory the Citation V had some major undercarraige work to be completed.
From memory the Citation V had some major undercarraige work to be completed.