Jetsgo ceases operations
Join Date: Sep 2004
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We won't have to lock him up. This guy will not be able to run a corner store under his name. He's done himself in. Let's chalk this up as a lesson to be learned for the next generation of airline pilots. Be patient. AC will be doing some hiring and if you're ok with flying a 737 your whole career WJ seems ok too. My fear is the lesson was not learned. We are our own worst enemies.
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Not related I'd say, rotornut. Lot of small-fleet operators of F100s in Europe etc., probably looking for temporary additional crew: http://www.fokker-aircraft.info/fleetlist.htm
Join Date: May 2003
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The skys over Canada are much safer now that the green garbage cans are grounded.
Contrary to what Jetsgo pilots said on the national news the other day, those airplanes suffered more daily incidents than aircraft of that vintage should.
If management didn't shut the operation down, I think TC would have.
Contrary to what Jetsgo pilots said on the national news the other day, those airplanes suffered more daily incidents than aircraft of that vintage should.
If management didn't shut the operation down, I think TC would have.
Ohcirrej
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I believe Nav Canada are considering (or may have already, can't remember) holding aircraft in an attempt to secure $1.5 million owing. Good luck.
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I heard on the evening news last night in Montreal that a Toronto firm was stuck with about $150,000 worth of Jetsgo uniforms, promotional t-shirts and other paraphenelia from a recent order from Jetsgo. They interviewed the president of this company, and they were going to try to unload at least some of it on e-bay, and give some of it to charity (I guess if you're poor you won't mind wearing a Jetsgo t-shirt)
I couldn't believe the good humour of this guy after just being stiffed for $150 grand by ML & Co.
Mike
I couldn't believe the good humour of this guy after just being stiffed for $150 grand by ML & Co.
Mike
Eight Gun Fighter
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M. Leblanc had one last trick up his sleeve. The Fokker 100s were parked at various airports and he wanted them in Quebec City where they had a hangar. In his words he told "a little white lie" to the pilots in order to get them there, just before closing the doors. He told them they were required in Quebec City for urgent maintenance checks and even invented an airworthiness directive to back the story up.
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Jetsgo Crap on Ebay
It is really one sick concept.....people are bidding on Jetsgo items as part of aviation history on Ebay. Does anybody really think that this kind of Canadian aviation really means jack ****? This loser low cost carrier should be forgotten. I would much rather have folks discuss the history of Wardair.
russellackland
furloughed airline employee....glad to see this company gone
russellackland
furloughed airline employee....glad to see this company gone
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Mr. Leblanc isn't sure what the future holds for him.
"It isn't going to be easy to start another airline, but impossible? That's not right, either."
Eight Gun Fighter
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Jetsgo may resume operations under new plan
CTV.ca News Staff
Jetsgo has proposed a restructuring plan that could resume operations for the failed discount airline.
A court-appointed monitor has outlined the idea as an option to creditors, the Toronto Star reported.
"The objective would be to file a plan that will permit an airline business to continue," said a status report on the company, released Wednesday by monitor RSM Richter Inc.
This "will present an opportunity for employment to potentially hundreds of individuals and will provide a financial recovery for the company's creditors superior to the result that they would achieve in bankruptcy."
The airline shut down earlier in March, leaving some 17,000 passengers stranded and about 1,350 employees out of work.
However, the plan may be a tough sell to creditors who are owed more than $100 million.
This total does not include money owed to employees or companies that leased 14 aircraft to the airline.
The proposal has already drawn some criticism.
"I'm dumbfounded. I can't believe they'd be suggesting that," John Weerdenburg, vice-president and chief executive officer of Ottawa's Macdonald-Cartier International Airport Authority, told the Star.
"Who ultimately would end up trusting the son of Jetsgo?"
Weerdenburg said his airport is owed $220,000 by Jetsgo and he suspects several airports will want their money up front.
Meanwhile, media reports suggested that at least a couple of Jetsgo creditors are seeking to seize grounded aircraft as remuneration for the $7 million that they are allegedly owed by the discount airline.
NAV Canada and the Greater Toronto Airports Authority have petitioned Quebec's Superior Court to lift a stay in proceedings and allow them to seize part of the grounded fleet in the aftermath of Jetsgo's downfall.
The monitor acknowledged that the plan will be a hard sell and that it would be premature to "determine whether a successful restructuring plan can be submitted to creditors, but the company is working diligently and in good faith in this regard."
Other points outlined in the report:
The new plan would be dependent on approval from stakeholders and creditors.
The monitor confirmed it plans to continue selling Jetsgo's assets.
A restructured company would lease aircraft with "negotiation of new terms with aircraft lessors premised on a different business model."
The monitor proposes continuing to cancel all contracts and the majority of airport leases.
CTV.ca News Staff
Jetsgo has proposed a restructuring plan that could resume operations for the failed discount airline.
A court-appointed monitor has outlined the idea as an option to creditors, the Toronto Star reported.
"The objective would be to file a plan that will permit an airline business to continue," said a status report on the company, released Wednesday by monitor RSM Richter Inc.
This "will present an opportunity for employment to potentially hundreds of individuals and will provide a financial recovery for the company's creditors superior to the result that they would achieve in bankruptcy."
The airline shut down earlier in March, leaving some 17,000 passengers stranded and about 1,350 employees out of work.
However, the plan may be a tough sell to creditors who are owed more than $100 million.
This total does not include money owed to employees or companies that leased 14 aircraft to the airline.
The proposal has already drawn some criticism.
"I'm dumbfounded. I can't believe they'd be suggesting that," John Weerdenburg, vice-president and chief executive officer of Ottawa's Macdonald-Cartier International Airport Authority, told the Star.
"Who ultimately would end up trusting the son of Jetsgo?"
Weerdenburg said his airport is owed $220,000 by Jetsgo and he suspects several airports will want their money up front.
Meanwhile, media reports suggested that at least a couple of Jetsgo creditors are seeking to seize grounded aircraft as remuneration for the $7 million that they are allegedly owed by the discount airline.
NAV Canada and the Greater Toronto Airports Authority have petitioned Quebec's Superior Court to lift a stay in proceedings and allow them to seize part of the grounded fleet in the aftermath of Jetsgo's downfall.
The monitor acknowledged that the plan will be a hard sell and that it would be premature to "determine whether a successful restructuring plan can be submitted to creditors, but the company is working diligently and in good faith in this regard."
Other points outlined in the report:
The new plan would be dependent on approval from stakeholders and creditors.
The monitor confirmed it plans to continue selling Jetsgo's assets.
A restructured company would lease aircraft with "negotiation of new terms with aircraft lessors premised on a different business model."
The monitor proposes continuing to cancel all contracts and the majority of airport leases.
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Why don't the pilots who are owed all this money in unpaid bonds play ML at his own game?
Get a good lawyer, put a lien on two of his planes, and start your own airline. Other businesses are run as cooperatives, and many have been formed out of the ashes of former bancrupt companies that owed money to the employees.
The advantage to this is 1) It puts the employees in the driver's seat, and 2) The public would bring their business to a co-op that was employee owned. Nobody is going to trust their money to a recusitated Jetsgo.
Get organised, guys. Don't listen to promises. Take control.
Just a thought.
Cheers
Get a good lawyer, put a lien on two of his planes, and start your own airline. Other businesses are run as cooperatives, and many have been formed out of the ashes of former bancrupt companies that owed money to the employees.
The advantage to this is 1) It puts the employees in the driver's seat, and 2) The public would bring their business to a co-op that was employee owned. Nobody is going to trust their money to a recusitated Jetsgo.
Get organised, guys. Don't listen to promises. Take control.
Just a thought.
Cheers
Join Date: Apr 2005
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Just spoken - well email, with an acquaintance who worked with Jetsgo, and he tells me that he's been approached to re-join a slimmed down version of Michel Leblanc's creation should the funding get together and all of the regulatory hurdles passed...
I understand the suit vs. Westjet alleged practices is something that Leblanc and his "management" are betting on.
The man needs help...(Leblanc that is)...he was however described in an article recently (National Post) as a kind hearted and much misunderstood individual...
Can anyone remember what happened back in Canada 3000 where they alleged the figures over in Royal were fudged, and that along with post 9/11 market conditions brought them down? Didn't they try to sue Leblanc, but went under before they could get the action together ??
I understand the suit vs. Westjet alleged practices is something that Leblanc and his "management" are betting on.
The man needs help...(Leblanc that is)...he was however described in an article recently (National Post) as a kind hearted and much misunderstood individual...
Can anyone remember what happened back in Canada 3000 where they alleged the figures over in Royal were fudged, and that along with post 9/11 market conditions brought them down? Didn't they try to sue Leblanc, but went under before they could get the action together ??
Eight Gun Fighter
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I do most sincerely hope that the F100 jobs being hawked around by email from a company (based in YVC) that used to recruit for Jetsgo are not for the new Jetsgone/lite (not really Jetsgo).
Here we go again.
Here we go again.
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Rosbif
Not Jetsgo and not M. Leblanc, for a while anyway. Bankruptcy declared at 1515 yesterday, and TC have already axed the OC.
If he tries again, hopefully he’ll have a rougher time of it. It never fails to amaze me how he is able to bamboozle employees and the public over and over.
Good riddance to bad rubbish.
Not Jetsgo and not M. Leblanc, for a while anyway. Bankruptcy declared at 1515 yesterday, and TC have already axed the OC.
If he tries again, hopefully he’ll have a rougher time of it. It never fails to amaze me how he is able to bamboozle employees and the public over and over.
Good riddance to bad rubbish.