Airline Pilot Central Forums - Western Global Airlines

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Quote:

Originally Posted by WGTruth (Post 3609875)

You're naive to believe management's spin. WG has few customers and very little flying. The credit rating agencies have taken notice and published their opinions for all to see. You should believe what they say:"Relative to a larger air cargo airline Rand Parent (Atlas Air; BB/Stable), WGA faces higher liquidity risks with its revolver fully drawn and greater operational challenges to compete for pilots. WGA also has weaker credit metrics than Atlas." Note that Atlas is rated as STABLE while Western Global is characterized as NEGATIVE WATCH.

Planes parked on the ramp undergoing "heavy maintenance" in the sun? That's a tough sell. I think the head of marketing did the best he could with this fact: "WG is exploring new opportunities worldwide." It was the owners greed that lead to this crisis.

A picture is worth a thousand words! See previous post.

Right now, Atlas has 23 planes in the air. Kalitta has ten. Western Global has zero. It seems the cargo downturn has hit only one airline very hard.

Truther, I am trying my best to sound respectful, but you do sound like a broken record and a mudslinging former employee, because if you were not it would be very surprising for you to still be at this company with everyone hiring. Again, no one is denying that business is slow and times are challenging. If you deny that there is an overcapacity in airfreight resulting in a business slowdown, you clearly spend more time watching flight trackers than reading airfreight related news. If mudslinging is what makes you happy, enjoy your time LOL.

When does this years bond payment come due? I'll be curious to see what the ESOP statement shows this June...

Quote:

Originally Posted by Asiabound (Post 3610011)

When does this years bond payment come due? I'll be curious to see what the ESOP statement shows this June...

WG has approximately $4 million in interest/principal related to its secured debt that's due every quarter. The larger $21 million semi-annual coupons on the unsecured bonds are next due in August.

Given the wild revenue claims the company was making up until December 2022, I expect the annual ESOP statements this year to be massively inflated, just like the previous years. The valuation will fall off a cliff next year, if the company is still in business.

Quote:

Originally Posted by Asiabound (Post 3610011)

When does this years bond payment come due? I'll be curious to see what the ESOP statement shows this June...

You should ask that question on the WhatsApp group that has people on it who are knowledgeable about how the esop works. Relying on WGtruth’s isn’t going to get you the truth. If you made the same amount of money this year as last, your contribution will be about the same. The company contribution for the next 4 years is a fixed amount. Your salary divided by the total company payroll times the company contribution is what you will receive. It has nothing to do with stock price or company valuation. If the share price goes down, you will get more shares. Take the time to sign up to the esop website and read it for yourself.

Just looking at the 747 side, 356 has flown 8 sectors in the past ten days. 344 has flown 12 sectors in the last ten days, and is airborne over the Pacific as I am writing this. 452 has flown 3 sectors in the past 5 days. Not super high utilization, but a far cry from zero flying. Only 258 has not done any recent flying, as it has been in Shreveport doing a heavy check and aging aircraft inspection.

Quote:

Originally Posted by ObadiahDogberry (Post 3610235)

I commuted back in to RSW yesterday and there are still 6 maybe 7 MD11s still sitting parked as they have been for the last 3 months. Thats not good to see.

Quote:

Originally Posted by David Burnett (Post 3610156)

You should ask that question on the WhatsApp group that has people on it who are knowledgeable about how the esop works.

The owner of WG correctly identified the six most self-serving, despicable pilots in his company. Two of them were rewarded with management positions and the other four were given a task. They formed a private WhatsApp group to bash ALPA and cheerlead the ESOP.

I genuinely feel sorry for the pilots who trust their futures to something they read on a private WhatsApp group rather than listen to what the world’s largest pilots union has to say. It should be really obvious which group is doing what’s best for WG pilots.

As far as the ESOP, you can believe what the three largest ERISA litigation firms in the country have said about WG’s plan, or you can believe Larry, Curly, Moe and Shemp from the WhatsApp chat.

Quote:

Originally Posted by ObadiahDogberry (Post 3610235)

You’re referring to only 3 of the company’s 18 planes and you’ve included ferry flights in your count. Nice try!

Ummm, I think I was quite clear I was referring to the 747 fleet. I also admitted that the utilization was not super high.

Just a quick glance on the MD-11 side shows four of the aircraft flying in the past ten days, for a total of 15 sectors, including two currently airborne aircraft.

For someone who has “Truth” as part of their screen name, you have to admit it is true that 38 sectors over the past ten days, while not great utilization, is, in fact, infinitely greater than your assertion of “zero” flying. Or is that part of the truth not as important as hyperbole?

[QUOTE=WGTruth;3610303]The owner of WG correctly identified the six most self-serving, despicable pilots in his company.

Oh Truther, so now you’re talking or have been talking with the owner LOL ? This is getting more entertaining by the minute. Excellent tabloid stuff !