Atlas $2.4B in debt, Bain to invest in Titan
 

WOW didn't realize balance sheet was this bad.

https://www.freightwaves.com/news/bain-capital-to-invest-in-atlas-airs-aircraft-leasing-unit

The debt ratio has been higher previously. Aircraft are expensive to acquire....especially 747-8s. It’s not like they need to order more flour, icing, and sprinkles to make more donuts. They claim the aircraft are worth more than the current debt load. I imagine that is subjective and determined by the current/future market.

I’m guessing that going to Bain wasn’t their first choice. However, given AAWW’s recent financial performance I’m sure the capital markets were not very welcoming.

The deteriorating cash position is worth noting.

Has there really been a “work slowdown”? Can’t really do that legally, correct?

Seems the article is portraying pilots as the problem. Very interesting.

"portraying pilot's as a problem".....boy there's a surprise.

By management's own numbers the airline is undermanned by over 500 pilots. Classes are not being filled.

But yea, it is the fault of the current pilots.

Sounds like all my past carriers I worked for. Just dressed up in slightly different language.

Another's perspective.

https://seekingalpha.com/article/431...e-is-essential

There is a work slowdown, because there's not enough pilots at Atlas/Southern to do the work asked for by the customers. The ONLY way to fix the work slowdown, including a lot of parked airplanes due to lack of pilots, is to get a new, good, contract done ASAP.

Last 747 class of 24, 17 pilots showed up, from what we heard.

This is all standard stuff before a CBA. Especially from an “airline” that refuses to pay. Doom and gloom.

A 777 class in early December netted 1 (one) whole pilot.

What are they hiring guys at hr wise? How much turbine do you need? tt?

How much experience and turbine will get you onboard?

What are they currently hiring at TT and turbine?

The farm league teams are hiring.

We won't look at your background or train you. Just apply and don't worry.

We won't look at your history nor will we train you. Your experience level is irrelevant. Just apply and convince people to can occupy a seat.

Also ease up on the espresso.

Which is what Atlas is... 1500 and an ATP will get you flying something at Atlas if you prefer that pathway to a real job instead of a Regional.

Reading DB's testimony to the FAA this is a VERY true statement. Who knew that reading Mesa's training records could be so confusing after Atlas hired so few of their pilots...

The "RETURN TO FO" in all caps must have been really confusing for them.

Link to the testimony?

Especially when you've only seen 5 or 6 hundred Mesa training documents over the course of your career at Atlas...

In her interview she said, "Well his house could've caught on fire or something..."... Of course she never asked him about it or called Mesa to ask what it meant. She never took it to SA or JD to ask them what it probably meant.

Atlas didn't ask at the time if you've ever failed an upgrade program and I believe they did ask that when I was hired in 2011. I could be wrong about that but I really think they did ask it. Nobody from the FAA asked her or SA how many people that get a "RETURN TO FO" at Atlas have their "House catch fire" and how many fail the training. Usually personal issues like that are "Call us when you've got your personal life in order. We've got your back."... Even at Atlas.

What I find really funny is that in the FAA interviews they spend all this time talking about how this happened to CA during training at Atlas and that happened to him that interrupted his training, but he still made it through. Most airlines will work with you if "Your house catches fire"... Usually you don't complete upgrade for other reasons and Atlas certainly knew that.

What's coming will be a less-than-honest attempt to make this about the need for the PRD rather than negligence (at best) on our part. By making this about the PRD rather than our failure to adhere to the law or train effectively we're going to build a smokescreen to preserve the careers of leadership.

It's important we start a discussion now to head-off any kind of notion that this is about failures in FAA pilot records regulations rather than a failure of our general management and training culture. Until we acknowledge our failures, something we still haven't done to this day, we cannot improve. Reality can't be avoided indefinitely. The longer we, as a company, avoid facing the facts, the more painful our return to reality will be.

It'll be interesting to see how it's handled next time. Nothing's changed so the next one is just a matter of time. Unfortunately...

https://dms.ntsb.gov/pubdms/search/h...EC7294646BA690

or

https://go.usa.gov/xp7gH

Document 2... Look for DB in there. Her testimony is shockingly bad.

I heard if you put your name and phone number in the application and get bored and don’t fill anything else out they will call you in.