Mesa Air Group
02-19-2009, 07:58 AM
#21
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,050
They will be delisted.
That is not the end of the world, but it limits OJ's future options for raising money. It will also PO the shareholders...they will no longer be able trade MAG with ease by pointing and clicking on the open markets, they will have to find some dude in a dark alley and work a deal.
That is not the end of the world, but it limits OJ's future options for raising money. It will also PO the shareholders...they will no longer be able trade MAG with ease by pointing and clicking on the open markets, they will have to find some dude in a dark alley and work a deal.
02-19-2009, 08:03 AM
#22
Banned
Joined APC: May 2007
Posts: 152
02-19-2009, 08:14 AM
#23
Gets Weekends Off
Joined APC: Oct 2006
Position: NU Guy
Posts: 437
02-19-2009, 08:25 AM
#24
Gets Weekends Off
Joined APC: Oct 2005
Position: 737 Right
Posts: 955
They will be delisted.
That is not the end of the world, but it limits OJ's future options for raising money. It will also PO the shareholders...they will no longer be able trade MAG with ease by pointing and clicking on the open markets, they will have to find some dude in a dark alley and work a deal.
That is not the end of the world, but it limits OJ's future options for raising money. It will also PO the shareholders...they will no longer be able trade MAG with ease by pointing and clicking on the open markets, they will have to find some dude in a dark alley and work a deal.
02-19-2009, 08:35 AM
#25
Gets Weekends Off
Joined APC: Jul 2008
Posts: 101
What was the point of that? If you go on that aviation Herald website and click through all the incidents you will see Delta, Southwest, Skywest and just about every other airline in the world.
Wait maybe since Mesa had a nose gear issue it means that they are going out of business, oh im sorry Muushin now I see how the two events relate to each other
02-19-2009, 09:05 AM
#26
Banned
Joined APC: May 2007
Posts: 152
What was the point of that? If you go on that aviation Herald website and click through all the incidents you will see Delta, Southwest, Skywest and just about every other airline in the world.
Wait maybe since Mesa had a nose gear issue it means that they are going out of business, oh im sorry Muushin now I see how the two events relate to each other
Wait maybe since Mesa had a nose gear issue it means that they are going out of business, oh im sorry Muushin now I see how the two events relate to each other
Actually,
I was in the process complementing the crew for a good job when my neighbor's heater tripped my computer off.
However,
after reading the ensuing posts, .......well...
02-19-2009, 09:47 AM
#27
Gets Weekends Off
Joined APC: Sep 2006
Position: SWA F/O
Posts: 145
Not a reflection of RAH's product, which I'm sure is very good, but more a reflection of the inter-island market in HI.
02-19-2009, 10:16 AM
#28
Gets Weekends Off
Joined APC: Jul 2008
Posts: 101
Well if that was the case then I do apologize, but given your posting history with Mesa you cant blame me for thinking otherwise.
02-19-2009, 10:31 AM
#30
Banned
Joined APC: Jan 2007
Position: CRJ9 - hemorrhoid cushion
Posts: 66
"President of Mokulele Airlines is pleading for help from local investors to help save his company.
Mokulele is late on paying $291,000 to Republic Airways, and has until tomorrow to make the payment.
Mokulele leases three jets from the mainland-based Republic Airways.
We learned tonight that Mokulele employees have volunteered to have their paychecks delayed so that the money can be used to pay Republic tomorrow.
But another payment will be due in about a week, and Mokulele's President says unless investors step in to help, his company could go under.
Mokulele Airlines started inter-island jet service last November, after borrowing $8M, and leasing three jets plus crew members from Republic Airways.
Mokulele is required to make payments three times a month to Republic.
And just as Mokulele is starting to take off, with jet flights to Kauai, Maui, and the Big Island, the company has encountered turbulence.
"During holidays we burned a lot of our operating cash. For operations, expansion, we had to get infrastructure, we're building a new reservations system, and maintenance facility," said Bill Boyer, Mokulele Airlines President & CEO.
As a result, Mokulele wasn't able to make a $291,000 payment to Republic last Wednesday.
And based on the agreement the two companies have, Mokulele has five business days past the due date to make the payment or else Republic will gain control off Mokulele's assets, including the company's seven turbo prop planes.
Tomorrow is that final deadline.
"We are going to be able to make the payment tomorrow," said Boyer.
Thanks to the employees, who have volunteered to have their paychecks delayed, so the money can be used to pay the bill.
Mokulele has almost 200 employees, and 85% of them are former Aloha Airlines employees.
"By doing that it gave us another week of life, and it's amazing, one ohana," said Boyer.
But Boyer says he's not sure how much longer Mokulele will survive without help from investors because another $291,000 payment is due in about a week.
"What we're seeking right now is angel investors. We're a private company," said Boyer.
"We have no interest or desire to run an airline in Hawaii, so we remain hopeful and we're working with Mokulele in their recapitalization plan," said Scott Durgin, Republic Airways -- Vice President, Strategic Alliances.
Boyer says if Mokulele gets $7M to $10M from investors, his company is projected to start turning a profit by summer.
"I put up everything I had to help the people of Hawaii, so now I'm asking the people of Hawaii to to help my family, which are my employees," said Boyer.
Durgin says these financial dealings won't impact the scheduled flights.
And if Mokulele defaults on a payment in the future, Republic plans to continue the inter-island jet service."
.................3 jets and repubs to make a stay. I guess that was there "IN" to the island. ...TACTFUL (sans lawsuits?)
Mokulele is late on paying $291,000 to Republic Airways, and has until tomorrow to make the payment.
Mokulele leases three jets from the mainland-based Republic Airways.
We learned tonight that Mokulele employees have volunteered to have their paychecks delayed so that the money can be used to pay Republic tomorrow.
But another payment will be due in about a week, and Mokulele's President says unless investors step in to help, his company could go under.
Mokulele Airlines started inter-island jet service last November, after borrowing $8M, and leasing three jets plus crew members from Republic Airways.
Mokulele is required to make payments three times a month to Republic.
And just as Mokulele is starting to take off, with jet flights to Kauai, Maui, and the Big Island, the company has encountered turbulence.
"During holidays we burned a lot of our operating cash. For operations, expansion, we had to get infrastructure, we're building a new reservations system, and maintenance facility," said Bill Boyer, Mokulele Airlines President & CEO.
As a result, Mokulele wasn't able to make a $291,000 payment to Republic last Wednesday.
And based on the agreement the two companies have, Mokulele has five business days past the due date to make the payment or else Republic will gain control off Mokulele's assets, including the company's seven turbo prop planes.
Tomorrow is that final deadline.
"We are going to be able to make the payment tomorrow," said Boyer.
Thanks to the employees, who have volunteered to have their paychecks delayed, so the money can be used to pay the bill.
Mokulele has almost 200 employees, and 85% of them are former Aloha Airlines employees.
"By doing that it gave us another week of life, and it's amazing, one ohana," said Boyer.
But Boyer says he's not sure how much longer Mokulele will survive without help from investors because another $291,000 payment is due in about a week.
"What we're seeking right now is angel investors. We're a private company," said Boyer.
"We have no interest or desire to run an airline in Hawaii, so we remain hopeful and we're working with Mokulele in their recapitalization plan," said Scott Durgin, Republic Airways -- Vice President, Strategic Alliances.
Boyer says if Mokulele gets $7M to $10M from investors, his company is projected to start turning a profit by summer.
"I put up everything I had to help the people of Hawaii, so now I'm asking the people of Hawaii to to help my family, which are my employees," said Boyer.
Durgin says these financial dealings won't impact the scheduled flights.
And if Mokulele defaults on a payment in the future, Republic plans to continue the inter-island jet service."
.................3 jets and repubs to make a stay. I guess that was there "IN" to the island. ...TACTFUL (sans lawsuits?)
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