WORLD AIRWAYS
Joined: Mar 2008
Posts: 555
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From: Western USA
Joined: Jul 2001
Posts: 90
Likes: 0
From: London
they have filed to reject a number of leases, including the entire B747 fleet 16 percent of the staff have already gone and a lot more to go soon 
N273WA MD11 pax. (parked in Goodyear)
N380WA MD11 Cargo (parked in OST AOG)
N381WA MD11 Cargo
N383WA MD11 Cargo (parked in Marana)
N740WA B747 Cargo
N742WA B747 Cargo
full details can be found at Global Aviation Holdings Inc., et al.
N273WA MD11 pax. (parked in Goodyear)
N380WA MD11 Cargo (parked in OST AOG)
N381WA MD11 Cargo
N383WA MD11 Cargo (parked in Marana)
N740WA B747 Cargo
N742WA B747 Cargo
full details can be found at Global Aviation Holdings Inc., et al.
Joined: Jan 2008
Posts: 3,156
Likes: 113
From: There and here
That 2 large cargo airlines are in chapter 11 at the moment is a wonder to me. If they are heavily involved in military charters that are paid for/backed by governments then surely that has got to be some of the most secure and profitable work going outside of ad hoc outsize cargo flights ?
Joined: Nov 2007
Aviation Qualifications: ATPL
Posts: 1,954
Likes: 30
From: Texas
That's the problem. If you build a business model that depends on government contracts and the government cuts down on how much lift they need, your business model fails.
Joined: Oct 2007
Posts: 1
Likes: 0
From: msp
world airways
The business model was not the problem. World was bought by venture capitalists and they stole all the money from the company.
Before they bought it, world had over 80 million cash and was debt free. In less than three years the company was several hundred million in debt and zero cash in the bank.
As one of the pilots there I saw my career literally dissolve around me.
I am furloughed from there and fully expect to never go back. World will be lucky to survive. It has incredibly bad management there now and is a mere shell of the former company it was.
The pilots there were among the finest I ever met and flew with. Very professional, and very much concerned with each other's welfare. They truly cared for each other and I felt as if I was in a real family.
Sad story for another really good company........
Before they bought it, world had over 80 million cash and was debt free. In less than three years the company was several hundred million in debt and zero cash in the bank.
As one of the pilots there I saw my career literally dissolve around me.
I am furloughed from there and fully expect to never go back. World will be lucky to survive. It has incredibly bad management there now and is a mere shell of the former company it was.
The pilots there were among the finest I ever met and flew with. Very professional, and very much concerned with each other's welfare. They truly cared for each other and I felt as if I was in a real family.
Sad story for another really good company........
Joined: Nov 2006
Posts: 164
Likes: 0
From: Gatwick
Who is next ?
EIA / World......who is next ? National Air Cargo also reliant on AMC unless someone can tell me otherwise. Atlasair saw the demise of war coming and diluted more commercial stuff but likely plenty of aircraft are parked ? Howabout Kalitta ?
The only salvation would be the North attacks the South Koreans.
The only salvation would be the North attacks the South Koreans.
Joined: Apr 2008
Posts: 85
Likes: 0
From: US
While Kalitta does do a significant amount of military flying with the 747-200 fleet the 744's are a little more diversified. DHL, oil companies, ad hoc flying and of course some military flying. Even after the draw down in the Middle East there will still be some US military business. The US military has for decades chosen to use civilian lift to cover portions of their flying regardless of war or peace. Kalitta's balance sheet should allow it to make the transition back to a more normal, non-wartime, flying allotment.
Joined: Apr 2002
Posts: 984
Likes: 51
From: EGSS
WORLD AIRWAYS
Both affected by Atlas. Evergreen lost the LCF flying for Boeing and World the Houston Express contract to Luanda. No fault of Atlas of course but a considerable chunk of flying lost by both.
Joined: Aug 2002
Posts: 26
Likes: 0
From: London, UK
Failed to change !
Unfortunately this was inevitable, World Airways had the opportunity to reorganise in their previous bankruptcy filing from which they only emerged in February this year. Management failed to get significant changes with the crew unions and frankly had their hands tied by a crew bid line system which remains highly inefficient. As a result customer airlines incurred significant additional costs and ultimately those customers looked to other ACMI providers.
With the downturn in the military business and fewer ACMI customers World were left with a much reduced revenue stream and a very large overhead.
Good luck to those who are now seeking new employment!
With the downturn in the military business and fewer ACMI customers World were left with a much reduced revenue stream and a very large overhead.
Good luck to those who are now seeking new employment!
Joined: Nov 2008
Posts: 114
Likes: 0
From: A parallel universe.
The only salvation would be the North attacks the South Koreans.
The seeds for war are actively being sown again in the Middle East under the auspice of Barack-Obama(s)care-Obama, starting in Tunisia, Libya, Egypt, Syria, Bahrain and now Iran.
Unstable regimes, religious fundamentalists, nuclear weapons, oil and an American president that (deliberately?) looks the other way.
Hmmm, if that isn't a recipe for disaster, I wouldn't know what is.
Israel Working With Saudi Arabia On Iran "Contingency" Attack | Zero Hedge
and
Hollande and Netanyahu to consider forming a joint French-Israeli-Arab front against Iran
Joined: Nov 2006
Posts: 164
Likes: 0
From: Gatwick
Paranoid
What a load of BS........... I read the article.......Wow ! twisted logic is how I would describe it. Hollande ? He is a Muppet and does not have the balls. If there was a french / israeli / saudi club......then they could have flexed their muscles in Syria....just to show the size of their balls swagger.....it did not and will not happen. The French public will be erecting the scaffolding for Madame Guillotine even if Hollande so much as sneezed..........no chance. he would be much better going back under his rock to hide.
Joined: Sep 2000
Posts: 276
Likes: 0
From: Planet Earth
One would hope that this gets settled peacefully by the P 5 + 1. As far as this Shia-Sunni ideological war presently being waged in Syria , Iraq , Kurdistan , etc. is concerned , the Saudis are the most unpredictable. Their secret services were blamed for the chemical attack on August 21 , who know`s what they`ll get up to next. Their survival is at stake , along with Israel`s but it would be foolish to write off the Persian tiger yet. Going to be a hell of a fight if it happens , real quick and ugly. You folks in the Gulf better have an exit plan. France would like to be a player , but being opportunists hasn`t been their strong point historically. 
Btw , too bad about World , plenty of highly experienced crews hitting the street again , hopefully not for too long.
Btw , too bad about World , plenty of highly experienced crews hitting the street again , hopefully not for too long.
Joined: Jul 2010
Posts: 162
Likes: 0
From: El Dorado
Why does some jacka$$ ALWAYS have to ruin a non-political thread with a political comment?
As someone pointed out earlier, WA should have diversified out of politics in order to not be dependent on it, so the survival of WA is very much dependent on what happens in the White House and the worldwide political arena.
People better learn how to read the newspaper or watch the evening news, because with the US winding down wars in Afghanistan and Iraq, the demise of World Airways (and Evergreen...) was only a matter of time and hardly a surprise.
Joined: Mar 2011
Posts: 31
Likes: 0
From: USA
Nah, I don't buy that load of BS...
There are lots of contractors that the DOD uses, like my employer (Atlas), and we are doing fine...thanks.
The problem with WOA is that they are now owned by an outfit that doesn't give a damn about the airline business, or any other business...all they care about is get in, get out, and on the way out drain the company from the millions it had in cash, pension funds, etc...Remember the movie, Wall Street?...same thing.
There are lots of contractors that the DOD uses, like my employer (Atlas), and we are doing fine...thanks.
The problem with WOA is that they are now owned by an outfit that doesn't give a damn about the airline business, or any other business...all they care about is get in, get out, and on the way out drain the company from the millions it had in cash, pension funds, etc...Remember the movie, Wall Street?...same thing.