Aircraft snatched back at Elstree?
 

I am told that a large flying opperation at Elstree as had it's newest aircraft taken away due to non-payment of the lease fees.

Can anyone fill in the deatails?

Given this is a rumour site, surely we deserve to know who it is, together with some a spurious estimate of how much they owed, to whom etc., etc......

Indications of time to bankruptcy, how many students have paid up-front, how much they stand to loose and other such-like details much appreciated...

On a similar vein..... I popped into Swansea last week to be informed the resident parachute club pick up camp and moved in middle of night leaving a debt of £17K for fuel :eek:
It amazes me management allows tabs to get so high.
I asked if I could stick my uplift on their account :E

Yes, but to make it more interesting...

How many schools were threatened by the risk of crashing planes?:eek:

Banks and Bankers doncha juss luvem:{

Sir George Cayley

Don't you mean Grabair ?

You're in dangerous territory here. Any company having rumours about their solvency published in the public domain will be extremely unhappy, and potentially litigious.

which means they must have something to hide:eek:

Guys

Please listen to Hamish and think of Danny & Rob.

Ultimately they will be held responsible for your postings.

#8 They (whoever "they" are) could have nothing to hide. You are talking about a company's reputation here, and any rumours of cashflow problems, no matter what the reality is, could have damaging repercussions in terms of what credit their suppliers extend them. As such, the directors of the company will take steps to protect their reputation, and hence their ability to trade.

A company is no different from a person in these circumstances - if someone accuses you wrongly of not being able to pay your bills, you ain't gonna be too happy when the next person you deal with won't accept a cheque from you!

Many years ago, I worked for a well known brewery's pub repossesion department.

Very early, (4am) we went to "take back" a pub in Sheffield, we entered the premises to find that the Landlord had invited regulars to finish off the local stock and they were still in situ.
We took a hasty retreat....

Still, I bet that was no where near as scary as repossing an aeroplane:eek:;)

Was the TCAS switched on? Flaps down? Fuel burn set to lean....

My post deleted to reflect on others concerns and for Danny and Rob.; However this has been mentioned on another forum aswell.

Dom

Yes ... well ...

Once Upon A Time I was doing some work for a company. In due course it became slightly more difficult than it should have done to get paid; seeing as how I basically work for the money I stopped working for them, and went and worked for someone else who didn't seem to have a problem paying their bills.

I said nothing to anyone. In particular I spread no rumours about their credit-worthiness on the local usenet newsgroup.

And a few months someone posted to that newsgroup that they had lost a couple of months' income when the company finally went down the tubes.

Now, if I'd been more public spirited and spread the rumour around at the right time that guy wouldn't have been short of a couple of months' pay, would he, because he would also have stopped working for them.

So these days I'd publish something like "so and so has been a bit slow paying my last couple of bills, has anyone else had any problem with them?" which would be completely true and unactionable (I hope!) but would convey the necessary warning.

Fine. Say what you want, when you want. It just better be true, that's all.

I thought this was a rumour network....

That's quite a large assumption - all he would have had would have been your rumour. He might have taken a view that it was just a rumour, perhaps even being spread by a competitor or a malicious former employee.

Well so far this has been a most illuminating post - Not! No idea if an aircraft really has been repossessed, no idea from whom if it has, no idea whether I should worry about being paid by a particular company or not.

Hamish 123 is right, of course: malicious rumours or false rumours can do damage and there might be the possibility of redress. But if it is true - and someone muct know if it is - then I'd rather know.

Just think about why an aircraft might be repossessed.

Er, how about calling them?

would those aircraft be the diamond stars?

if so, then according to the owner who leases them to Cabair, there are no problems with the payments

But then isn't one of the main men at said (or said not) establishment also the owner of a number of aircraft leasing companies who lease aircraft to the said (or said not) establishment?! Allegedly....

Sure, but I'm happy that he, being a grown up, can make his own decisions on the basis of available information; the point being that I wouldn't then, either way, be feeling guilty about having withheld such information.

A rumour, by definition, is quite possibly not "information".

Double edged !
 

I have mixed feelings about starting a post like this and may be damaging the reputation of a company, but I am also mindfull of a number of companys that have taken large sums of money from people just hours before they stopped trading.

But I have to return to the question that I asked at the start, can any one shed any light on this rumour?

As far as I know they have no finnancial problems. They have no instructors as most left to the airlines so they have no need for a large fleet of aircraft.

Rumours can and do have some basis on truth, but not ever getting hold of all of the information is what leads to asking questions.

Not to spread blame or cause damage but to find out the truth. And that is what we are after.

I was burnt by a company based near LHR who dealt with ground training for the ATPL exams and the owners were very bad in dealing with the business and so nearly three months later after taking peoples money went bankrupt.

If i had some information on anything like that I wouldnt have put so much money in, not huge amounts but a tad under £900 was lost. Could have paid for a few retakes.

If we find out the truth then we can save a few others on getting stung.

Happy hunting/flying

259:cool:

Interesting business model. In my world it's the number of customers who drive the facility requirement, not the number of employees.

HOWEVER, this thread was started with an unsubstantiated statement. If it isn't accurate (which it may well not be, regardless of good intentions by individual posters) it could be immensely damaging. Think on, everyone who has no personal knowledge, please. :=