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General Electric Backs Blue Fox Airlines

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General Electric Backs Blue Fox Airlines

Old 19th Jun 2001, 17:47
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THE FIXER
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Talking General Electric Backs Blue Fox Airlines


GE-IAI teams with Blue Fox

Paris Le Bourget--Blue Fox Executive Airlines announced on the opening day of Le Bourget Air Show its selection of GE-IAI Aviation Service International as its exclusive full service provider. GE-IAI Aviation Services International, LLC will make available a spares inventory valued at $10 million to support the new carrier. Blue Fox, which plans to launch scheduled all-business transatlantic services next spring, will thus have a substantial parts inventory to support its planned Boeing 767-300ER fleet.

The agreement means that Blue Fox’s original funding requirement of 65 million is now 55 million. The airline is currently working with leading City of London financial advisors Stoy Hayward and a prospectus is due to be published in a few weeks’ time.

Blue Fox Founder and entrepreneur Michael Lord-Castle said: “We are delighted to reach this agreement with GE/IAI. It is a measure of confidence in the Blue Fox philosophy and management team when a company of GE/IAI Aviation Services’ calibre supports us in the launch phase. We greatly appreciate their support and are confident that with their full line of services our airline will open up a new era in long haul air travel.”

In May Blue Fox announced that it had secured $10 million worth of flight bookings from an unspecified New York-based travel organisation. The group was quick to secure all-business class seats from New York to London Stansted in its capacity as corporate agent to some 400 major US companies.

Blue Fox is preparing to launch twice daily flights to New York JFK from its own dedicated terminal at London Stansted in March 2002. It will fly seven Boeing 767-300ER aircraft, which will be configured for 138 passengers in 50-inch seat pitch. Services to west coast routes – Boston, Washington DC, San Francisco and Los Angeles will follow after New York – For more information visit the website at www.bluefoxairlines.com


[This message has been edited by THE FIXER (edited 19 June 2001).]
 
Old 22nd Jun 2001, 20:39
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THE FIXER
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BLUE FOX EVALUATES AIRLINE PARTNERSHIP & FINANCING OPTIONS

Blue Fox Executive Airlines is counting among its financing options the possibility of a partnership with an established carrier in addition to growing interest from various investors keen to get involved in the UK start-up.

Speaking from the Paris Air Show, Blue Fox president Michael Lord-Castle says that two airlines have approached the company about potential partnerships with the Stansted based carrier.

One of the unnamed airlines made an offer to assist Blue Fox, he says, while a second well-established carrier opened up the opportunity of a partnership with funding. Airline interest in Blue Fox follows recent news that United airlines, Virgin Atlantic airways and British Airways are all planning all business aircraft services.

Lord-Castle comments: “the other airlines are seeing the advantage at this stage of working with us. They see the benefit of what we are doing.”

He says an airline partner could help feed passengers into the all-business class transatlantic service that Blue Fox plans to being operating from March 2002 between London Stansted and New York JFK.

Besides an airline partner, Lord-Castle says the carrier is looking at various investor options that could raise the estimated 65 million ($91 million) needed to cover starting up operations as well as leases for a fleet of seven Boeing 767-300ERs and all other costs that are part of the three-year plan.

He says he plans to make an announcement about the airline’s financial support in six weeks’ time. Blue Fox has hired financial advisor Stoy Hayward to prepare a prospectus, due to be published in a few weeks.

At the Paris Air Show, Blue Fox received its first bit of financial support from GE-IAI Aviation Services International. The spares service provider is providing its service at a discounted price and is making available a 10 million spares inventory in a ten-year contract with the airline to support the proposed 767-300ER fleet.

Lord-Castle says the deal secures GE-IAI’s involvement in Blue Fox and shows its confidence in the airline. He points out that the contract helps to lower the overall price tag for the three-year plan by 8 million.

Additionally, Lord-Castle says, the airline has been approached by two separate organisations that could each cover all the costs anticipated by the carrier. He says that one in particular is willing to bring in $500 million in equity so that Blue Fox would buy all the aircraft on order instead of leasing them, as was its original plan.

He claims Blue Fox has already raised support among 200-300 small investors willing to put up some of the money needed, but Lord-Castle comments that “they would need a clear exit strategy”, and as a result he would consider taking the airline public as an option.

Meanwhile, the company is trying to win business for its proposed transatlantic service through independent travel agencies. In May, he says, Blue Fox secured an agreement valued at $10 million in flight bookings with a New York-based travel organisation that handles 400 US companies.
 
Old 23rd Jun 2001, 00:33
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Dutchie
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OK so have hired a PR company.... Leaves me with two questions:
1) Why not wait with getting normal people like us excited until have your money...
2) Does the fact that when I am buying a ticket from BA mean I am in: "a partnership with BA". Let's face it your PR is nice,but it is a little bit to obvious... so you have a MOU or LOI or an intention to do business etc with who ever (must say GE sounds good) but they have hundreds of LOI's outstanding...

Let's stop using this site as a free advert site...

------------------
I'd rather be flying...
 
Old 24th Jun 2001, 01:23
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BOTFOJ
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the PR looks good, the website looks good, the names sound good, but THE FIXER's continual self publicity on this site makes the whole thing Guvnoresque.
 
Old 25th Jun 2001, 20:23
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The Guvnor
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At the risk of appearing ... 'Guvnoresque' I'd just like to point out that if the CAA believes that more than 49% of a company's capital (whether in equity or its equivalent comes from a non-UK source, it won't be regarded as a UK carrier and therefore will not be eligible for a UK AOC and Operating Licence. Given the apparent involvement of the Fayeds (Egyptians) and now GE-IAI (US/Israeli) this operation sounds less and less British as the days go by!

Perhaps they should get themselves a US certificate instead...

In any case, what this PR item says that that GE-IAI have simply agreed to provide parts on consignment - not exactly anything spectacular!
 
Old 26th Jun 2001, 11:44
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Doodles
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Whether at LOI or MOU, and accepting the PR purge, it must be encouraging that major industry players are talking to the organisation. One assumes they have had sight of the business plan and have not run away
 
Old 26th Jun 2001, 13:34
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THE FIXER
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Dutchie

In answer to your questions.

1. We have received over 600 applications for employment. The professional medium of PPRUNE is a good route to keep all of those applicants informed of the progress as opposed to just leaving them wondering what is happening. Being left just hanging there wondering is very soul destroying. The approach that has been adopted demonstrates our recognition of this.

2.Does the fact that when I am buying a ticket from BA mean I am in: "a partnership with BA". Dutchie....I do not understand this statement.

BOTFOJ....I hope the above, addresses your concerns.

The Guvnor.. In due course, you will note that the company is vastly UK owned and controlled. Indeed this is more of a British carrier than almost any other carrier currently operating.

The Fixer



[This message has been edited by THE FIXER (edited 26 June 2001).]
 
Old 26th Jun 2001, 16:50
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Dutchie
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Dear Fixer

Your statement that GE etc backs Blue Fox is a little bit over the top I thought. Good PR work I have to agree, but over the top. To make that a litle clearer I used the tcket example so let's try again....

Blue Fox have an agreement with a certain party to supply you certain goods and Blue Fox pays for that. Right? So in your case it is a consignement of spares and services from GE etc. It could also be me buying a ticket from BA to fly me from A to B. Or it could be you going to McDonalds to buy a Whopper meal.

In all these cases it is a simple transaction being set up with somebody buying and somebody selling.

My comment is that if you give a headline like: GE backs Blue Peter it sounds like GE is investing in BP or buying seats from BP or make another kind of investment in BP. So for the sake of all these 600 people who sent in their CV it is a small warning not to be taken in by a PR company/person.

Don't get me wrong I wish you all the best in the world but we have seen to many people getting excited about nothing so i rather be the Devil's advocate.

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I'd rather be flying...
 
Old 26th Jun 2001, 17:02
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Avman
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I'm right with you Dutchie. Had a gutfull with Caledonian Wings. I too wish Blue Fox all the best. I'll certainly be a customer. But somehow I have this niggly little doubt.
 
Old 28th Jun 2001, 11:08
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Dutchie
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Ooooppss... I learned from a well informed source that McD does not sell whopper meals... Sorry, my sincere apologies to mr. B. King..

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I'd rather be flying...
 
Old 28th Jun 2001, 12:06
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Ella
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Cool

All the PR supplied by Mr Lord-Castle is all very nice, and I applaud the arrival of a new airline breaking into a market that should be explored.

However, the majority of readers on these pages are more interested in two main questions...How much yer payin?....and where do I send the CV. On the latter point, despite the 600 applicants mentioned, and the web site stating that many rated pilots have applied, I can see no reference to any correspondence address. Even the potential investor is told 'Don't call us, we'll call you'. (By e-mail).

What I did notice is that the CEO, and the 'Boeing 767 Specialist' are both of long standing British Airways origin. So Lads, Laddettes and Wannabe's, put those CV's away and sit back and watch another 'Job's for the BA boys club form in front of your very eye's'.

Anyone know anything about the characters mantioned on the website's team section? May as well get the Skeletons out and find the drift of what man management style is going to be likely.
 
Old 28th Jun 2001, 14:46
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Dogsbolux
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Must be a stealth operation!!! I can't get any response either...

 
Old 28th Jun 2001, 19:43
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cbavoidance
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Oh Christ! not another airline set up for the retiring BA BALPA boys.
No doubt they have received 600 application from BA pilots about to retire. The managment are all ex BA anyway.
I can find no address on their website whatsoever.
It does'nt matter how they are paying when you have a fat BA pension in addition to your 'gravy' money.
 
Old 6th Jul 2001, 10:22
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THE FIXER
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Exclamation

Please note that there will be a job application page on the web site

www.bluefoxairlines.com within the next month.

Yes non-BA staff may also apply. Those that have as yet not understood the Blue Fox philosophy of providing great service at low cost, need not apply.

The Fixer
 
Old 6th Jul 2001, 14:28
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Dutchie
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Jeeh mr Fixer, does that include me myself and I too then??

I always thought that you get what you pay for but you are telling us that we even get more...

Question if you run a company with ex-BA staff who are the best paid in the industry (eventhough most will tell you it is not enough ) you still claim to be cheaper..


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I'd rather be flying...
 
Old 6th Jul 2001, 15:44
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The Guvnor
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Dutchie - I suspect he means that you have to accept (much?) lower pay than BA and be happy about it...
 
Old 6th Jul 2001, 16:25
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767driver
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Fixer,

Would you have enough "ready to go" 767 drivers? Were can I send my application?

Best of luck!
 

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