Private Air going bankrupt??
 

Someone told me today that Geneva based Private Air are not doing very well and are about to go bankrupt.

Anyone else heard anything??

:o I doubt that VERY much ;)

Given that Privatair belongs to one of the richest Greek shipping tycoons in the world (nope, not Stelios' old man ... this bloke could buy him out with his pocket change) I too doubt it!!

Sure, they've spent a lot of money on their new BBJs and their acquisition of various FBOs (including Transair) - but at the end of the day I think it will pay off handsomely for them.

Also heard they are basing a B757 at STN soon on a UK AOC.

My understanding is that their forward bookings for this year and next are excellent - i.e., BBJ utilization should be good.

For that reason alone, Privatair could borrow funds if REALLY necessary (against future income).

Tell your friend in Geneva to support his assertions better with FACTS...

Someone must be having a "Turkish"

Must have been mistaken... :eek:

I thought that this was the 'rumours' board (!?) and wasn't aware that rumours had to be supported by facts ;)

Ya'll take care now :D

Will