Jetsgo to Lease Aircraft from Boeing

jumperdumper · Post by **jumperdumper** » Wed Mar 30, 2005 6:42 am

CTV is reporting LeBlanc has detailed plans to start up again but with leased aircraft from Boeing....another $30000?
At least you'd be buying a usefull endorsment....

J.P.WISER · Post by **J.P.WISER** » Wed Mar 30, 2005 7:01 am

Lets see if all the pilots remember and make him fly his own planes this time???? Or will they be back shoveling shit lick before!!!!!

gelbisch · Post by **gelbisch** » Wed Mar 30, 2005 7:08 am

We seem to have short memories in this country... criminal as it may be I wouldn't be terribly surprised if he pulls it off.

alpha speed · Post by **alpha speed** » Wed Mar 30, 2005 7:56 am

The idea is to use the MD's.

p-thrust · Post by **p-thrust** » Wed Mar 30, 2005 8:03 am

J.P.WISER wrote:Lets see if all the pilots remember and make him fly his own planes this time???? Or will they be back shoveling shit lick before!!!!!

I'm a laid off MD pilot why wouldn't I go back? Its a paycheck and its always better to have a job while you look for one.

Go Guns · Post by **Go Guns** » Wed Mar 30, 2005 8:07 am

The Globe and Mail wrote: Jetsgo founder plans revival
By BRENT JANG
Wednesday, March 30, 2005

Jetsgo Corp. founder Michel Leblanc has devised detailed plans to get his insolvent carrier back in the air this summer, relying on aircraft sales to slash debt and counting on eight leased planes for the revival.

Less than three weeks after leaving thousands of travellers stranded, Mr. Leblanc has crafted an ambitious timetable to resurrect the airline, setting June 25 as the target for a rejuvenated Jetsgo's first flights using leased Boeing MD-83s, sources said yesterday.

"He's hoping to salvage some type of airline business because that's all he knows. He's trying to reinvent himself one more time and he would only use leased aircraft," said one lawyer familiar with Jetsgo's comeback strategy under bankruptcy protection.

Mr. Leblanc confirmed yesterday that he and his management team are preparing plans to resume operations beginning in the busy summer season with a slimmed-down airline, but he declined to comment on specific target dates.

He said the silver lining from the bad publicity for Jetsgo is that Canadian consumers know the brand instantly, so the challenge will be to market a comeback theme.

"I admit that the Jetsgo brand has blemishes, but its awareness has picked up.

"So, there's a downside and a good side," Mr. Leblanc said.

Jetsgo's fleet of 29 aircraft consists of 15 company-owned Fokkers, parked in Quebec City, and 14 leased Boeing MD-83s -- eight in Toronto and the rest located in Vancouver and Montreal.

A key to rescuing the carrier will be persuading the lessors that it's best to stick with Jetsgo, rather than finding another airline to pick up the MD-83 leases.

Mr. Leblanc, who hopes to persuade creditors and consumers to give him another chance, said he expects that Jetsgo will sell off the 15 Fokkers and liquidate other assets under the supervision of court-appointed monitor RSM Richter Inc. Hours before filing for bankruptcy protection on March 11, Jetsgo supervisors directed the bulk of Fokker pilots to fly the aircraft to Quebec City, under the guise of maintenance checks, for safe haven from creditors.

Toronto law firm Cassels Brock & Blackwell LLP is the lead representative of the aircraft lessors. Eight to 14 MD-83s could form Jetsgo's reduced fleet, sources said.

Under the proposal to breathe new life into Jetsgo, the carrier's lawyers are expected next week to ask the Quebec Superior Court to extend the April 11 deadline for Jetsgo to file a plan of arrangement to reorganize the airline.

The Montreal-based company, controlled by Mr. Leblanc, would then hold discussions with creditors in the hope of filing its restructuring plan by May 15 and have creditors review that proposal in the first week of June, sources said.

The Jetsgo president said no decision has been made yet on whether to change Jetsgo's name and whether the restructured business should be a chartered or commercial carrier.

When the discount airline filed under the Companies' Creditors Arrangement Act nearly three weeks ago, 17,000 passengers were left stranded and more than 1,200 employees lost their jobs.

The Greater Toronto Airports Authority, overseer of Pearson International Airport, would want "stringent financial rules" in place before approving any Jetsgo reorganization plan, GTAA spokeswoman Connie Turner said.

She said Jetsgo decided against declaring bankruptcy, preferring to go the CCAA route to buy itself some time to regroup.

"Frankly, we were quite surprised that they went under CCAA, considering that they shut down and they let their employees go," Ms. Turner said.

"I just think it would be a hard sell for the whole industry just because of the damage to their reputation and leaving a lot of creditors hanging out there."

The GTAA says it's owed $5.5-million by Jetsgo. The largest single creditor is credit card clearing agent Moneris Solutions Corp., which is owed at least $30-million.

Jetsgo would require safety approvals from Transport Canada, but Mr. Leblanc expressed confidence that he could get the green light from Ottawa since Jetsgo already holds certain operating certificates and licences.

A job fair, organized by the Toronto Board of Trade, will be held today for former Jetsgo employees. Mr. Leblanc said his scaled-down airline would need a smaller work force, and there are provisions to recall staff who belonged to the Teamsters Canada union, including flight attendants and ground crew.

One industry source said that while creditors are well aware of Mr. Leblanc's track record of heading or being closely linked with four airlines that didn't survive, the aviation entrepreneur could still win over some jaded creditors by stressing the prospect of redemption.

Jetsgo lost more than $55-million in the eight months prior to its grounding and has $108-million in liabilities, but Mr. Leblanc insists that with a new business model, a turnaround is in the offing.

"If we can craft a plan that makes sense commercially and brings back a business that's profitable, why not? We're looking at our strengths and weaknesses. We have to act responsibly. There's a good management team and there's a good fleet."

CLguy · Post by **CLguy** » Wed Mar 30, 2005 8:17 am

Christ this guy is like the Pink Bunny, he just keeps GOING!

He must be planning on shorting a bunch of WestJet stock since he obviously never made enough on the backs of his employees's in the last shut down.

greenwich · Post by **greenwich** » Wed Mar 30, 2005 8:27 am

I bet he starts-up again with a few 737's and does exactly what Zip tried to do!!

And the worst part is that there will be a long line of pilots willing to give him $30,000 to fly!

Fawk I love our industry right now!!

G

alpha speed · Post by **alpha speed** » Wed Mar 30, 2005 8:44 am

Just curious if anyone actually saw the article.
Using a type already on the OC and AC that are available to negotiate new leases is what is going on here.

disco · Post by **disco** » Wed Mar 30, 2005 8:54 am

Guys,

Guys, the MD83 is on the OC and Boeing IS who you talk to when wishing to lease MD83s.

Just to be clear, the MD is what he is talking about. Ok.

(Gelbisch, don't you check your pms man?)

J.P.WISER · Post by **J.P.WISER** » Wed Mar 30, 2005 8:59 am

p-thrust wrote:
J.P.WISER wrote:Lets see if all the pilots remember and make him fly his own planes this time???? Or will they be back shoveling shit lick before!!!!!
I'm a laid off MD pilot why wouldn't I go back? Its a paycheck and its always better to have a job while you look for one.

See just line up at the door with your first, second and unborn third kid and hand them over to work for a guy like that. Don't ya think your better off on UI than 30 large in the hole and on UI?? Your better off waiting for an extra month or two and getting a real job where your respected!!!!!

It looks like he can pull this off on the work force part, seems like there are people willing to go back, if everything else can fall into line.

greenwich · Post by **greenwich** » Wed Mar 30, 2005 9:03 am

To quote myself:

greenwich wrote:And the worst part is that there will be a long line of pilots willing to give him $30,000 to fly!

Fawk I love our industry right now!!

G

alpha speed · Post by **alpha speed** » Wed Mar 30, 2005 9:28 am

The company still has an OC.
The MD seems to be the plane they are talking about.
I think there are at least 150+ MD pilots.
Am I missing something?
Who has to pay 30K?

Go Guns · Post by **Go Guns** » Wed Mar 30, 2005 9:33 am

Forget where they are going to get pilots from. Where are they going to get passengers?

Canus Chinookus · Post by **Canus Chinookus** » Wed Mar 30, 2005 9:43 am

my question is what is the status of the TC investigations? Or did they drop it when SG went TU? Maybe they'll pull the OC anyways...

W0X0F · Post by **W0X0F** » Wed Mar 30, 2005 9:43 am

Too many sheep out there, pilots and pax, just willing to get fleeced.

Requesting FL280 · Post by **Requesting FL280** » Wed Mar 30, 2005 1:45 pm

I can't stand to hear anymore about this guy.... I'm all about former JG pilots going back with their ratings, but this bond business has got to stop somewhere. I am currntly locked into a bond on a King Air and I was hoping it was going to be my last... As long as this guy is around, I guess mabey not...

xduster · Post by **xduster** » Wed Mar 30, 2005 2:21 pm

I wonder if the pilots will be able to carry over their existing training bond to jetsgo 2?.......
or are they gonna have to shell out money for another bond.

Screw me once, shame on you

Screw me twice, shame on me

p-thrust · Post by **p-thrust** » Wed Mar 30, 2005 2:24 pm

J.P.WISER wrote:
p-thrust wrote:
J.P.WISER wrote:Lets see if all the pilots remember and make him fly his own planes this time???? Or will they be back shoveling shit lick before!!!!!
I'm a laid off MD pilot why wouldn't I go back? Its a paycheck and its always better to have a job while you look for one.
See just line up at the door with your first, second and unborn third kid and hand them over to work for a guy like that. Don't ya think your better off on UI than 30 large in the hole and on UI?? Your better off waiting for an extra month or two and getting a real job where your respected!!!!!

It looks like he can pull this off on the work force part, seems like there are people willing to go back, if everything else can fall into line.

Your not too quick on the draw there buddy. I'm ex-Jetsgo bond, already paid, again why wouldn't I go back. Not like i'm dropping another 30 large for a type rating I already have. You pay for the Type rating not the job, if anyone was previously typed they could have gone to Jetsgo before without paying the bond. Like I said best to have a job while your looking for one.

sky's the limit · Post by **sky's the limit** » Wed Mar 30, 2005 3:02 pm

Congratulations P-Thrust

You took it up the a$$ 2+years ago, and now you're ready to go again... It's like the Stockholm Syndrome for pilots.

Make no mistake, it's people like you who are the downfall of this industry. You get on here with attitude DEFENDING your position???? WTF? I've been in this industry a long time now, and I continue to marvel at your kind - zero self respect.

I suppose you're first job was instructing for free? You undercut the guys already there? Do it for cheaper? Thought so.

I hear there's a debat in the Liberal Caucus about leaglizing prostitution - looks like they're too late.

Over the Horn · Post by **Over the Horn** » Wed Mar 30, 2005 3:10 pm

Dam'it this industry is Fucked!!!!!!!!!!

J.P.WISER · Post by **J.P.WISER** » Wed Mar 30, 2005 4:10 pm

p-thrust wrote:
J.P.WISER wrote:
p-thrust wrote: I'm a laid off MD pilot why wouldn't I go back? Its a paycheck and its always better to have a job while you look for one.
See just line up at the door with your first, second and unborn third kid and hand them over to work for a guy like that. Don't ya think your better off on UI than 30 large in the hole and on UI?? Your better off waiting for an extra month or two and getting a real job where your respected!!!!!

It looks like he can pull this off on the work force part, seems like there are people willing to go back, if everything else can fall into line.
Your not too quick on the draw there buddy. I'm ex-Jetsgo bond, already paid, again why wouldn't I go back. Not like i'm dropping another 30 large for a type rating I already have. You pay for the Type rating not the job, if anyone was previously typed they could have gone to Jetsgo before without paying the bond. Like I said best to have a job while your looking for one.

JG2 new bond why wouldn't he he got you to pay the first time!!!

... · Post by **...** » Wed Mar 30, 2005 5:12 pm

p-thrust wrote: I'm a laid off MD pilot why wouldn't I go back? Its a paycheck and its always better to have a job while you look for one.

The rules have changed...he won't have to pay you back the 30K...if you go back...you contribute yet again to the industry cancer.

I think Leblanc is brilliant. I should make a living sticking it to people...The straight and narrow is getting lame.

I am starting an airline...PPC's are 28K...a little cheaper than JetsGo...

send resumes to

iambirddog@hotmail.com

Attention: Human resources

Beechball · Post by **Beechball** » Wed Mar 30, 2005 5:42 pm

Sky's The Limit,

Nice retort. I second that!

IFR Pilot · Post by **IFR Pilot** » Wed Mar 30, 2005 5:48 pm

BD,
I agree with you training bonds aren't right, but they are standard, not just in Canada. As a former SG pilot, I have to ask, what is the difference between the 30K and the bonds signed everywhere else in this industry? It is my 5th one right from Navajo's to 1900's. What makes this one any different? If you are buying a job there, you are buying a job everywhere else in this industry when you pay or sign a bond.