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Wijet

Old 1st Jul 2018, 12:18
  #41 (permalink)  
 
Join Date: Jun 2004
Location: UK
Posts: 16
This fiasco was inevitable due to the actions of the WiJet managers and investors. Although Blink was yet to turn a profit at the time of acquisition by WiJet, it was self sustaining, run by a competent CEO who had costs under control, and with the AOC in the hands of Nominated Persons who knew what they were doing. Enter Wijet. Their claim to fame was that €18 M had been invested in the previous 3 years with nothing to show for it, additionally it was quite clear their spending was out of control. They also seemed to revel in annoying the Brokers, so that revenue stream was limited. Enter the current CEO. I’ll be careful here to avoid moderation, but I have never met anyone less suited to be a CEO and Accountable Manager. The result was therefore just a matter of time.

WiJet took a well run company in Blink and destroyed it. Shame on them all. Good luck to all my former colleagues.
Sadly Cynical is offline  
Old 1st Jul 2018, 14:21
  #42 (permalink)  
 
Join Date: Sep 2005
Location: OX18
Posts: 68
I’m told French crews and support staff were paid today and UK staff not, if that’s not a good example of why we need Brexit then I don’t know what is.
WijetScum!
I’m sure Honda would distance themselves from any such operation if the things we hear are true.
Brizeguy is offline  
Old 1st Jul 2018, 16:29
  #43 (permalink)  
 
Join Date: Jul 2018
Location: Miami
Posts: 2
Hi everyone,

I'm Doug Gollan - I'm owner and editor of Private Jet Card Comparisons and a contributor to Forbes.com - and my stories have been referenced in this thread, so I hope it is OK to post - I would appreciate anyone who can email me information about Wijet's prior financial problems as I have not been able to find anything. Also, any information about what's happening - feel free to email me at [email protected]. Thanks, Doug
Jet Card Comparisons is offline  
Old 1st Jul 2018, 18:03
  #44 (permalink)  
 
Join Date: Mar 2004
Location: schermoney and left front seat
Age: 56
Posts: 2,401
Originally Posted by Brizeguy View Post
I’m told French crews and support staff were paid today and UK staff not, if that’s not a good example of why we need Brexit then I don’t know what is.
WijetScum!
I’m sure Honda would distance themselves from any such operation if the things we hear are true.

Yeah exactly.

I´ll tell my ceo, "we" (not WI-JET) still employ thousands of Brits and French, he´ll be delighted not to have to pay them Brits anymore....he´ll love Brexit !
His dudeness is offline  
Old 1st Jul 2018, 21:25
  #45 (permalink)  
 
Join Date: Jul 2018
Location: Europe
Posts: 5
The following information has been sent to the shareholders of WiJet SA (Luxembourg based holding company) on Friday 29th June:

Dear Shareholders,

We wish to inform you of several decisions to accelerate a restructuring operation that has been implemented since June 2017.

The traditional model of ''charter" poses clear economic challenges, with increased competition on the entry level, a streng cyclicality of the revenues, and a aging of our fleet which makes more and more expensive our operations. Since its inception, Wijet has not been able to generate a positive net margin. The acquisition of Blink UK - which should have achieved a minimum size - will not have been accretive, on the contrary. lndeed, as of April 2017, the English company expressed a significant cash need whereas it should have been contributory. This acquisition is the cause of Wijet's ills and the reason for the dismissal of his former leader.

lt is therefore a question of rethinking the Wijet model for its future.

Today, June 29, 2018, we pivot the model towards an operation subcontracted to a European business aviation operator. The vertical integration in air transport is no longer seem relevant in the current market phase.

We adopt a model closer to Wheelsup or Surfair in the United States, which has proven effective since 2015. Wijet will become "Wijet, operated by". Our planes will always be painted with our colors and the service will be in the continuity of Wijet.

This structuring reduces fixed costs in the cyclical phase and will allow us to focus on sales and marketing, which have always been our strengths. All air operations and maintenance management will be removed from the perimeter. The current drivers still employees of the French part will be trained on the Honda H420 during the summer. Our partner operator will provide training and monitoring of these pilots.

We will give up the Air Carrier Certificate from Blink Uk (the only one in the group) in the coming days - an AOC that was going to pose a funds problem given EASA's stance on Brexit as early as March 2019. Rather that to apply to a new AOC in the European Union and reproduce a model that is not proven on entry-level so far, we choose to mutate Wijet. At the same time, we are closing down the group's English operations, a focus of persistent lass. A fundamental decision that will improve the financial profile of the group and optimize the financing of our new fleet. The integration of English will never have been possible.

As you also know, we signed an agreement with Honda for a fleet replacement in February 2018. We received two financing offers - one of which is included in our projections in terms of down payment and monthly payments. A first down payment was made in May 2018. Our goal is to finalize an agreement during the summer. The Honda Jet will be operated by our partner, driven by our crews and funded by our leaser.

Keeping C510 Mustangs in flight is too costly, generating an operational lass of 200 to 350K per month. An unacceptable performance profile. A change of fleet is therefore a priority in parallel with the exit of the air operations.

The contract with Honda is located, like the Wijet brand and our agreements with Air France, in the parent company, Wijet Holding SA, of which you are all shareholders.

In parallel with this transaction, we will proceed with a recapitalization, with already existing shareholder interests. The terms will once again be open to all shareholders.

The transition - now protocolized - to the partner operator will be done during the summer of 2018, with a full transfer objective in mid-late August. In the meantime, as it has been since April 2018, and in the face of the gradual decline in our capacity on our old aircraft, we will charter from our partner companies to ensure continuity of service to our customers.

On a subsidiary note. We note that the former leader of the group is prospering to disseminate confidential information and unfortunately mistaken about the company, its past and present. As you know, the latter destroyed his email before his dismissal, depriving him of any credibility. An unworthy and immature behavior in the face of personal failure, but that we will let you judge by your personal and financial interests.

Today, we have to move forward.

A restructuring is always langer than desired and we evaluate it at 18-24 months, of which already a full year. We are determined to relaunch Wiiet on its new model. Other agreements are being negotiated and we will get back to you soon.

We would like to thank our Senior Advisor, Bruno Matheu, whose authority is undeniable, and the French advisors who have been working with us for several weeks.

We thank you for your patience and support!

Jean Francois Hochenauer

Member of the Executive Board, Wijet SA
AviatorInEurope is offline  
Old 2nd Jul 2018, 11:59
  #46 (permalink)  
 
Join Date: Dec 2015
Location: Cambridge
Posts: 42
G-FBBK, KB, KC,KE, KF, KG were titled to Blink. LK titled to ExAlt Aircraft Holdings, NK titled to Regan Intl. Inc., KK titled to Sain Honore Fly Sarl, KH titled to Jetinvest Sasu. F-GRET was Wijet/Azouley as is F-HBIR. FFFC - unknown.

KC, BK, KB, LK were reposessed by Textron a couple of weeks ago.
Cambridge172 is offline  
Old 3rd Jul 2018, 00:29
  #47 (permalink)  
 
Join Date: Dec 2017
Location: Global Citizen
Posts: 144
Blink and they’re gone...

stormfury is offline  
Old 3rd Jul 2018, 08:22
  #48 (permalink)  
 
Join Date: Dec 1999
Location: A DIFFERENT PLANNET
Posts: 83
I feel sad, for the brief time i was with the company, the people in the office and the flight staff were amongst the finest people I have worked with.
In my thirty+ years in the business I have been fortunate to work with some of the most talented people in the industry, the CEO and the COO will not appear amongst that list, both were vastly out of their depth, blindly arrogant and appeared inexperienced within the Business jet world
The reason the company failed is the CEO and COO were not good enough
Low life is offline  
Old 3rd Jul 2018, 09:54
  #49 (permalink)  
 
Join Date: Jul 2018
Location: Paris
Posts: 1
In this industry, everyone will most likely loose there jobs at some point, unless your lucky! However for a company to knowingly continue operations before closing one unit with unpaid staff is a little unfair, especially when they continue with there French Operations as planned, paying staff as they go. If you can afford a downpayment on a new fleet, im sure you can scrape some cash together to see your former colleagues right as they look for new work.

Dear Shareholders,
We wish to inform you of several decisions to accelerate a restructuring operation that has been
implemented since June 2017.
The traditional model of ''charter" poses clear economic challenges, with increased competition on
the entry level, a strong cyclicality of the revenues, and a aging of our fleet which makes more and
more expensive our operations. Since its inception, Wijet has not been able to generate a positive
net margin. The acquisition of Blink UK - which should have achieved a minimum size - will not have
been accretive, on the contrary. lndeed, as of April 2017, the English company expressed a significant
cash need whereas it should have been contributory. This acquisition is the cause of Wijet's ills and
the reason for the dismissal of his former leader.
lt is therefore a question of rethinking the Wijet model for its future.
Today, June 29, 2018, we pivot the model towards an operation subcontracted to a European
business aviation operator. The vertical integration in air transport is no longer seem relevant in the
current market phase.
We adopt a model closer to Wheelsup or Surfair in the United States, which has proven effective
since 2015. Wijet will become "Wijet, operated by". Our planes will always be painted with our colors
and the service will be in the continuity of Wijet.
This structuring reduces fixed costs in the cyclical phase and will allow us to focus on sales and
marketing, which have always been our strengths. All air operations and maintenance management
will be removed from the perimeter. The current drivers still employees of the French part will be
trained on the Honda H420 during the summer. Our partner operator will provide training and
monitoring of these pilots.
We will give up the Air Carrier Certificate from Blink UK (the only one in the group) in the coming
days - an AOC that was going to pose a funds problem given EASA's stance on Brexit as early as
March 2019. Rather that to apply to a new AOC in the European Union and reproduce a model that is
not proven on entry-level so far, we choose to mutate Wijet. At the same time, we are closing down
the group's English operations, a focus of persistent loss. A fundamental decision that will improve
the financial profile of the group and optimize the financing of our new fleet. The integration of
English will never have been possible.
As you also know, we signed an agreement with Honda for a fleet replacement in February 2018. We
received two financing offers - one of which is included in our projections in terms of down payment
and monthly payments. A first down payment was made in May 2018. Our goal is to finalize an
agreement during the summer. The Honda Jet will be operated by our partner, driven by our crews
and funded by our lessor.
Keeping C510 Mustangs in flight is too costly, generating an operational loss of 200 to 350K per
month. An unacceptable performance profile. A change of fleet is therefore a priority in parallel with
the exit of the air operations.
The contract with Honda is located, like the Wijet brand and our agreements with Air France, in the
parent company, Wijet Holding SA, of which you are all shareholders.
In parallel with this transaction, we will proceed with a recapitalization, with already existing
shareholder interests. The terms will once again be open to all shareholders.
The transition - now protocolized - to the partner operator will be done during the summer of 2018,
with a full transfer objective in mid-late August. In the meantime, as it has been since April 2018, and

in the face of the gradual decline in our capacity on our old aircraft, we will charter from our partner
companies to ensure continuity of service to our customers.
On a subsidiary note. We note that the former leader of the group is prospering to disseminate
confidential information and unfortunately mistaken about the company, its past and present. As
you know, the latter destroyed his email before his dismissal, depriving him of any credibility. An
unworthy and immature behaviour in the face of personal failure, but that we will let you judge by
your personal and financial interests.
Today, we have to move forward.
A restructuring is always longer than desired, and we evaluate it at 18-24 months, of which already a
full year. We are determined to relaunch Wijet on its new model. Other agreements are being
negotiated and we will get back to you soon.
We would like to thank our Senior Advisor, Bruno Matheu, whose authority is undeniable, and the
French advisors who have been working with us for several weeks.
We thank you for your patience and support!
Jean Francois Hochenauer
Member of the Executive Board, Wijet SA

Summed up, dont trust Wijet in any form, they will be back and no doubt continue in there unethical ways. There new business model... Sell jet cards, using airplanes they dont own with a partner company flying them... Guess who will and wont be getting paid...
JollyRoger1830 is offline  
Old 3rd Jul 2018, 10:56
  #50 (permalink)  
 
Join Date: Sep 2013
Location: Geneva
Posts: 3
Wijet might want to update their website..
Link to UK AOC still on there.....

​​​​​
Falconer777 is offline  
Old 3rd Jul 2018, 11:34
  #51 (permalink)  
 
Join Date: Oct 2011
Location: UK
Posts: 8
The website is a joke and has been since it's launch. The comment that sales and marketing is their strength is laughable (unless fluent BS falls in to that category). The mentioned adviser's authority is definitely deniable and as for the name that signs off the email, he's been largely silent for 18 months so given his job title, COO, that would point at least one finger at him as a reason for failure. Unfortunately the ego's of the executive board will never allow them to admit their own part in this, especially while their own wallets feel pretty heavy,
OlegTrottsky is offline  
Old 3rd Jul 2018, 16:57
  #52 (permalink)  
 
Join Date: Jul 2009
Location: Turin
Posts: 8
There has been so many lies and deceit from the Wijet management team. They claim in their release that Blink Ltd never reached profitability. Companies House shows in 2014 a £64k profit.

The whole Blink approach revolved around managing expectations. This was a VLJ. No cabin attendant, no VIP catering, and the only way to operate profitably at a price point that was competitive was to fly multiple clients on multiple trips on the same day.

Wijet preferred the “Yes” approach. A few (real) examples:
1. Customer: I want fancy hot catering.
Wijet: Of course, complimentary. Oh wait, we don’t have a microwave or hot box.

2: C: I want only French crew.
W: OK, we will fly a new aircraft and crew in for you, no extra charge

3: C: I had a slot delay on my flight, I’m not happy (probably due to French ATC strike)
W: Here, have a full refund and a discount off your next flight.

From the moment Wijet took control, French customers were prioritised over all other clients at considerable expense. The sales team had no idea what they were doing and were paid a bonus for every flight regardless on whether it made money.

Revenue was taken by the French Business, and never transferred to the UK company, where all the costs were. At the same time, Ops were forced to switch to Openjet (another company owned by SGH capital) and were the UK company was charged for using it, despite it not working. Ops ended up duplicating in both systems.

The founder of Wijet took massive commissions on every round of fundraising he brought. He forcibly took control by issuing a “loan” to the business in 2017 with a clause it must be repaid on demand or he got 50% of the shares. Not surprisingly he recalled the loan a week after it was issued and some suppliers had been paid.

MarcoT is offline  
Old 3rd Jul 2018, 17:47
  #53 (permalink)  
 
Join Date: Aug 2001
Location: se england
Posts: 1,372
Living near Blackbushe i regularly saw the Blink Mustangs in and out and it looked like they were getting busy enough to survive. Very sorry for all the UK based staff but its got nothing to do with brexit , the Uk opted out of EU employment legislation that would have prevented this , so the fact they lose out is due to anti not pro EU people. It is that sort of often deliberate mis information about the Eu that conned many into voting leave
pax britanica is offline  
Old 4th Jul 2018, 11:01
  #54 (permalink)  
 
Join Date: Jul 2009
Location: Farnborough
Posts: 66
Looks like Azoulay owns directly F-GRET and F-HBIR, wherever they are. The rest of the fleet seems to be in the UK right now except G-FBKH which must have been nicked by a disgruntled pilot or in hiding...likewise G-FFFC and G-FBKG missing.
Romaro is offline  
Old 4th Jul 2018, 14:04
  #55 (permalink)  
 
Join Date: Oct 2011
Location: UK
Posts: 8
G-FFFC was only managed. F-HIBR left in October last year. F-GRET never flew commercially under the Blink AOC and is unlikely to be able to be flown anywhere from it's Oxford home..... G-FBKG is in Oxford I believe, and has been since March.
OlegTrottsky is offline  
Old 4th Jul 2018, 16:20
  #56 (permalink)  
 
Join Date: Apr 2003
Location: Northumberland
Posts: 6,512
Wijet shuts down UK operation and plots expansion in mainland Europe

"There was too much uncertainty around operating in Europe with a UK AOC," says Azoulay. "EASA [the European Aviation Safety Agency] recently noted that the UK may be not be accepted as a member if it were to implement Brexit, setting a deadline of March 2019. Given that 90% of our business is in mainland Europe, it's a risk we cannot afford to take," he says.Wijet is moving its fleet to a new, and as yet undisclosed registry, and has partnered with an established charter company on the continent to operate the aircraft on its behalf. "We’re no longer interested in having our own AOC as it gives us no competitive advantage," says Azoulay.

The company is now adopting what calls a "modular approach" to business, where it will "buy in" services, such as maintenance and operations. "With competition in the charter market increasing, we have to adjust, and stick with what we are good add – sales, marketing and customer service," says Azoulay
SWBKCB is online now  
Old 4th Jul 2018, 16:41
  #57 (permalink)  
 
Join Date: Jul 2009
Location: Turin
Posts: 8
Rumour is IXAIR are taking the HondaJet aircraft.

I heard they went bankrupt a few years back too.
MarcoT is offline  
Old 4th Jul 2018, 22:11
  #58 (permalink)  
 
Join Date: Sep 2005
Location: OX18
Posts: 68
BKG at GAMA Oxford has been waiting for a Part Cessna couldn’t supply.
BKH crew refused to fly it to Oxford due to the difficult situation regarding wages and impending administration.
GRET is a “Christmas Tree”! Will need lots of money to get it flying again, not cost effective to return to service.
I heard San Marino registry for Hondajet. French pilots will be sat at home with nothing to do for months before it folds IMHO
Brizeguy is offline  
Old 5th Jul 2018, 08:40
  #59 (permalink)  
 
Join Date: Oct 2011
Location: UK
Posts: 8
More ignoring the truth received this morning:

"HELLO EUROPE !

With Brexit coming, Wijet is coming back to its roots.

Chers Clients,

Beaucoup d'entre vous nous ont choisi depuis 2010 pour la qualité du service Wijet. Nous vous remercions pour votre confiance dans le ciel !

Nous annonçons aujourd'hui le recentrage de Wijet sur son savoir faire français en rapatriant nos opérations et notre flotte depuis le Royaume-Uni vers l'Europe continentale. Brexit oblige, car dès mars 2019, les opérateurs britanniques pourraient ne pas pouvoir opérer au sein de l'Union Européenne.

Notre ADN est français et global à la fois, dans la tradition et l'innovation. Nous avons ainsi lancé le renouvellement de notre flotte complète avec le Honda Jet H420, un avion ultra moderne qui nous permet d'élever encore notre niveau de service.

Nous avons toujours privilégié la sécurité au service de votre liberté de voyage, dans les meilleures conditions. Nos accords avec Air France La Première et American Express révèlent notre volonté de toujours tendre vers l'excellence. Plus récemment, Wijet a été partenaire de l'opération France 98 aux côtés des footballeurs français Champions du Monde !

Au cours de notre transition vers le Honda et notre nouvelle base en Europe continentale, nous continuons à servir tous nos clients, partout. Nous sommes aussi impatients de vous faire prochainement découvrir notre nouvelle flotte et nos nouveaux partenaires.

Notre service commercial est toujours là, pour vous, afin de vous servir en toutes circonstances.

Merci encore pour votre fidélité !

A très bientôt !


Dear Clients,

We are announcing today the rebalancing of our entire flight operations from the UK to Continental Europe. Wijet is coming back to its roots

Brexit has made it too complicated for us to keep investing in the United Kingdom and be able to support operations in Continental Europe. In March 2019, the lack of a clear agreement between the UK and the EU Commission will make flying in the European Union more complicated for British operators.

Our DNA is French, combining a taste for tradition and innovation. For a fact, we are renewing our entire fleet with the HondaJet H420, an ultra modern aircraft with amazing technical performance that will allow Wijet to deliver the highest level of service in its category.

We always stay at the forefront of innovation: we were first to introduce a partnership with American Express to convert miles into flight hours, in 2014, we struck an exclusive alliance with Air France to carry First class passengers to and from Charles de Gaule. Most recently, Wijet was featured as a sponsor of France 98, the celebration of the French football team (check us out on instagram !).

As we transition to Honda and our new bases in Continental Europe, we continue to serve all our customers everywhere, everyday. We are also looking forward to sharing our new fleet experience with you.

We would like to thank you for your ongoing loyalty since our launch in 2010."
OlegTrottsky is offline  
Old 6th Jul 2018, 15:21
  #60 (permalink)  
 
Join Date: May 2006
Location: Henley on Thames
Age: 58
Posts: 7
It has been sad to learn of Wijet’s demise in the UK. It, of course, follows the collapse of a number of jet charter services in North America and Europe over the past few years, and such developments always risk eroding the credibility of the wider private aviation space. From Victor’s own standpoint, UK and European business in the lighter aircraft segment remains strong. This year we plan to place over 500 charters in the Mustang-size market. More generally, we saw 95% year-on-year revenue growth for Q1. Unfortunately, owing to a sustained drop in service levels and performance, we haven’t placed any bookings with Wijet this year
vikingarmike is offline  

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