Evergreen Closing Down??
Joined: Mar 2008
Posts: 555
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From: Western USA
Just received this:
Contact:
Evergreen International Aviation
(503) 472-9361
[email protected]
McMinnville, Oregon -- November 8, 2013
As has been previously reported in the press, Evergreen's business has been adversely impacted over the past several years by decreased demand in military spending and weakness in global economic markets. Management has moved to aggressively address these challenges, including through the divestiture of businesses and assets and the significant reduction of secured debt. Evergreen is in discussions with its significant constituencies and is exploring available strategic alternatives with those constituencies. While Evergreen generally does not comment on market rumor or conjecture, rumors that a decision has been made to cease operations at this time are false. Evergreen remains committed to continuing to address the current business environment with its customers.
-Delford M. Smith
Chief Executive Officer,
Evergreen International Aviation
Contact:
Evergreen International Aviation
(503) 472-9361
[email protected]
McMinnville, Oregon -- November 8, 2013
As has been previously reported in the press, Evergreen's business has been adversely impacted over the past several years by decreased demand in military spending and weakness in global economic markets. Management has moved to aggressively address these challenges, including through the divestiture of businesses and assets and the significant reduction of secured debt. Evergreen is in discussions with its significant constituencies and is exploring available strategic alternatives with those constituencies. While Evergreen generally does not comment on market rumor or conjecture, rumors that a decision has been made to cease operations at this time are false. Evergreen remains committed to continuing to address the current business environment with its customers.
-Delford M. Smith
Chief Executive Officer,
Evergreen International Aviation
Joined: Jul 2001
Posts: 90
Likes: 0
From: London
fleet disposition
from www.flightaware.com
N779BA flew JFK-MZJ 23rd November presumed out of service
N491EV flew OSC-MZJ 27th November presumed out of service
N492EV flew a US military flight yesterday
N493EV flew WRI-RME on the 19th Nov. presumed out of service
the US military tend to award work on a calendar month basis so today may bring some news.
N779BA flew JFK-MZJ 23rd November presumed out of service
N491EV flew OSC-MZJ 27th November presumed out of service
N492EV flew a US military flight yesterday
N493EV flew WRI-RME on the 19th Nov. presumed out of service
the US military tend to award work on a calendar month basis so today may bring some news.
Joined: Oct 2007
Posts: 13
Likes: 0
From: Galt's Gulch
RIP Evergreen
For all current and ex-Zoners, Rest in Peace.
The "Zone" provided many pilots a jumping stone and entree to the legacy carriers (UAL, NWA, CAL) and freight carriers (UPS, FedEx, Polar, Atlas) as a means to further their aviation career.
The "Zone" provided many pilots a jumping stone and entree to the legacy carriers (UAL, NWA, CAL) and freight carriers (UPS, FedEx, Polar, Atlas) as a means to further their aviation career.
Last edited by JohnGalt; 1st December 2013 at 21:06. Reason: additional comment
Joined: Feb 2006
Aviation Qualifications: LAME
Posts: 36,141
Likes: 5,738
From: Falling off the end of the thread
More news. Some of the comments are interesting reading.
Evergreen Aviation & Space Museum's future in doubt as creditors claim Spruce Goose, other planes | OregonLive.com
Evergreen Aviation & Space Museum's future in doubt as creditors claim Spruce Goose, other planes | OregonLive.com
Joined: Jul 2001
Posts: 90
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From: London
Chapter 7 filing today
Evergreen Air Files Bankruptcy After Push For Payment - Bloomberg
Evergreen International Airlines Inc., a provider of air freight and transport services, sought bankruptcy protection yesterday two weeks after creditors asked a court to force the company to pay off debt.
The petition filed in U.S. Bankruptcy Court in Wilmington, Delaware, cited as much as $100 million in assets and as much as $500 million in debt.
Some creditors filed papers Dec. 17 in U.S. Bankruptcy Court in Brooklyn, New York, seeking to force McMinnville, Oregon-based Evergreen to pay its bills, according to the Delaware petition. Also seeking Chapter 7 protection were affiliates including Supertanker Services Inc. and Evergreen Defense and Security Services Inc.
Evergreen provides air freight, maintenance and other services to air carriers, aviation companies, and governmental agencies worldwide using a fleet of Boeing 747s.
Last March, Erickson Air-Crane Inc. said it would buy Evergreen Helicopters Inc., with 64 aircraft, for $250 million.
The case is In re Evergreen International Airlines Inc., 13-bk-13363, U.S. Bankruptcy court, District of Delaware (Wilmington).
To contact the reporter on this story: Phil Milford in Wilmington, Delaware at [email protected]
Evergreen International Airlines Inc., a provider of air freight and transport services, sought bankruptcy protection yesterday two weeks after creditors asked a court to force the company to pay off debt.
The petition filed in U.S. Bankruptcy Court in Wilmington, Delaware, cited as much as $100 million in assets and as much as $500 million in debt.
Some creditors filed papers Dec. 17 in U.S. Bankruptcy Court in Brooklyn, New York, seeking to force McMinnville, Oregon-based Evergreen to pay its bills, according to the Delaware petition. Also seeking Chapter 7 protection were affiliates including Supertanker Services Inc. and Evergreen Defense and Security Services Inc.
Evergreen provides air freight, maintenance and other services to air carriers, aviation companies, and governmental agencies worldwide using a fleet of Boeing 747s.
Last March, Erickson Air-Crane Inc. said it would buy Evergreen Helicopters Inc., with 64 aircraft, for $250 million.
The case is In re Evergreen International Airlines Inc., 13-bk-13363, U.S. Bankruptcy court, District of Delaware (Wilmington).
To contact the reporter on this story: Phil Milford in Wilmington, Delaware at [email protected]
Joined: Dec 2003
Posts: 200
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From: Gone from the FL sun to the desert Oasis
In addition, the Ground handling division EAGLE, shut down with out notice on 30DEC. Companies were left scrambling for ground, ramp, cargo handling in 35 cities including LAX, JFK, SFO, ORD and many more.
Joined: Jan 2014
Posts: 1
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From: NC USA
Well that took a while...
I worked for the outfit at both KIYA and KGLS for a while in the early 80's. Every quart of oil I needed to service the aircraft with or heaven forbid I needed a few Cherry-Lock rivets had to be approved by someone higher up the chain of finances. There were so many questions as to why we needed parts and supplies. It was an uncomfortable situation to be put in to say the least.
