Go Back   Airline Pilot Central Forums - Find your next job as a Pilot > >
Major Legacy, National, and LCC

Welcome to Airline Pilot Forums - Connect and get the inside scoop on Airline Companies

If this is your first visit, be sure to check out the FAQ. Join our community today and start interacting with existing members. Registration is fast, simple and absolutely free.

User Tag List

Thread Tools Search this Thread Display Modes
Old 10-15-2008, 12:19 PM   #1  
Gets Weekends Off
Thread Starter
pipercub's Avatar
Joined APC: Aug 2008
Position: MD80 CA
Posts: 185
Default Primaris stock purchase and reorganization plan

Primaris Airlines Announces the Completion of its Stock Purchase Agreement and its Reorganization Plan
Wednesday October 15, 3:50 pm ET

SCOTTSDALE, Ariz., Oct. 15 /PRNewswire/ -- Primaris Airlines, one of the few large aircraft executive and high-density charter airlines left in the U.S., announces its sale of seventy-percent of its preferred and outstanding stock to CorpoPetrol Global Energy Development, LLC (CP) a diversified, U.S. based energy company. As part of this process and due to the global credit market crisis, Primaris filed for protection under Chapter 11 of the bankruptcy code to allow CorpoPetrol to finalize the financing package.

"We are excited to have CorpoPetrol as our long-term partner," said Mark G. Morris, CEO of Primaris. He further stated, "that to have such a strategic partner, one who not only provides sufficient financing, but who will also supply to Primaris its primary raw ingredient, fuel, will allow Primaris to remain a strong entity well into the future.

"Primaris is a very strategic and important piece of the CorpoPetrol family," commented Giancarlo Jasbon, CEO of CorpoPetrol. Mr. Jasbon continues to state, "CorpoPetrol being an alternative and traditional fuel company can supply Primaris its most important ingredient at the lowest cost available world-wide."

About Primaris Airlines:

Primaris has operated a successful long-haul charter service for five years, but was affected more than most by the dramatic spike in fuel prices. Among its significant customers has been the White House press corps. The rich experience of its management and the operational integrity of the airline have made Primaris an attractive merger partner.

About CorpoPetrol Global Energy Development, LLC:

CorpoPetrol Global Energy Development, LLC is incorporated in Delaware to function as the parent company for several wholly owned subsidiary operations involved in several facets of energy development and production on a global basis. The Company's energy operations are vertically integrated and encompass crude oil exploration, development and sales; oil refinery construction; bio-mass energy production; the building of technologically innovative research centers and plants for the advancement and manufacture of high grade bio-fuels, coal-to-liquid fuels, gas-to-liquid fuels and ethanol; and the exploitation of new waste and oil recycling methods for the cost efficient creation of alternative energy sources.

Source: Primaris Airlines
pipercub is offline   Reply With Quote


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

All times are GMT -8. The time now is 09:36 PM.

vBulletin® v3.9.3.5, Copyright ©2000-2018, MH Sub I, LLC dba vBulletin
User Alert System provided by Advanced User Tagging v3.3.0 (Lite) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.
Website Copyright 2000 - 2017 MH Sub I, LLC dba Internet Brands

Search Engine Optimization by vBSEO 3.6.1