A bit of deja vu here: Family Airlines

"Food not included" - that's some attention to detail. I hate to admit this but I am going to scan his info memo this weekend. I can't not read it. Hope FINRA, etc are focused on his fraud.

In fairness to the guys at Avatar, there is a HELL of a lot more intelligence and thought gone into this than ever went in to the lunacy that is AIA. I would suggest the 748 is the wrong aircraft, but there is some reasonable meat in there. And at least the business plan doesn't mention People Express, Pan Am, Transcontinental and Western Air and The Grace L. Ferguson Airline (And Storm Door Co.)

Personally - I'd keep this thread for the madness and psychosis that is AIA. Rumours of his demise are greatly exaggerated I fear.....

TA

Indeed, there's some interesting regulatory dates coming up for AIA, including the CCJ window of opportunity, followed very swiftly by my favourite.... the filing of annual accounts!!! Lets see if those business trips to meet Qatar Airways last summer are in there for example!!! First week of April will certainly pique my interest if/when those accounts are filed!

I don't really want to get too deep into this other lot, namely because they are in the States, and I'm much less interested than one here... however, with that said, I'm minded to fire off a quick email to the law firm in Boca Raton to quickly ask for the lawyer that is named in the document as being heavily involved, and whether they can put any credence to the document.

I had to google CCJ; perhaps I missed something above but what’s the significance of CCJ for the Unworthy one please?

Someone has taken him to court for not paying them. Basically. Oh, and they won, so his likihood of getting any business finance at all is now basically non-existent, at least on commercial terms.

Basically, he has been taken to court for non payment of a debt and the court has found against him - a County Court Judgment. It will at the very least make future fundraising very much harder - would you lend money to anyone who has exhibited such fiscal incontinence?

Snap, diffident :) Great minds etc....

Indeed, both the same thing in different words!!! :) :ok:

Mind you, in all fairness the CCJ won't have affected his chances of raising funds. He had sod all chance before and he has sod all after :)

Ah! Missed that completely! Thank you.
Reading the info memo for Avatar. Am half tempted to ask for the model (but won’t). He buys a plane for $20m, makes $2k a flight so needs 10,000 flights to break even (lets ignore NPV, cargo, food, other revenue and expenses for the moment). So if they do 2 flights a day, that’s 5,000 days to pay off the plane, divided by 365 days, that’s 16yrs to pay off just the aircraft purchase. I might be too conservative here. He’s gonna have to sell a lot of Chef’s Meals and cargo!
Googled some names. Apart from Zapin and Michael, hard to see if other names are legit; not finding much on google.
Mentions AMS LLC as second largest shareholder. I know AMS in the UK who are legit (and I’d be shocked it’s them) but there is no AMS LLC that I can find.
Not gonna bother with reading financials.

Don't go there. I do airline business planning as part of my living, and trust me it doesn't work the way you think it does. Suffice it to say that Avatar MAY have a plan, but frankly without being paid I'm not putting the grey matter into gear.

And a new 747-8 is going to set him back the fat end of $200m, not $20m :)

Thanks, I’m involved in aviation but not in the planning side (which I find fascinating).
His b/s says $580m in aircraft assets in yr 3, so ~$20m per aircraft; to your point, 30x 747-8i would be ~$5.8b...

I was hoping to start reading books again after Jason disappears(ed) but now I have this infatuation to deal with. Wife is going to kill me.

He's got his decimal point in the wrong place. As I said, I'm not even going to read his plan unless someone pays me, I have more than enough clients to be going on with :)

TA

There’s nothing wrong in reading fiction! 🤪

but preferably with lots of pretty pictures!

of airplanes!

my god, they put a ton of work into this scam. They submitted a 455p file to the US DoT: https://avatarairlines.com/wp-conten...W-EXHIBITS.pdf

“I believe someday I could fly passengers for free and make money” - Barry Michaels, Avatar’s Founder

"I can see a day when we pay you to fly," - WOW Air founder and CEO Skúli Mogensen

I thought I read ion there that he is looking to utilise second hand planes which are being dry stored as the airlines move more towards modern twin engine versions. That's how he got $20m per aircraft.

Reading it more in detail. You are right. Will get 747-8i in 3-5yrs time after their IPO. Fact is they never got this off the ground all the way back to 1994 or so...