What would the new Callsign be? :P

I would "LUV" to invest in an airline where the employees "work for free"...Alas it's going to stay private.

Not A Chance of Going Public
 

Mr. Hrdlndg:

I doubt that there is a snowballs chance in hell of a public offering at Pace/Allstar Airlines. Curious fact...with all the talk about a "new owner", there has not been a single filing to this date with FAA/DOT registering a new management team, new ownership or in fact, any change in Pace Airlines.

Hmmmm. Very strange.

G'Day Mates:)

You don't have to change the name of what company owns the airplanes.

Grand Aire has about 6 different names the a/c were under.

Snowflake LLC
Tri-Coastal Air
Grand Aire, INC
Grand Aire Express
Grand Aire Operations
I can't think of the last one....

But any who, all Pace has to say is Pace Airlines dba All-Star Air Charter on all the legal documents and it's good as gold. No need to change any of the certs.

Beg to Differ
 

I disagree Sir. Under 14 CFR, Part 121, a change of ownership of a 121 certificate must be filed with and approved by the Air Certification Branch in Washington, D.C. That information is not normally made public but the filing must be made. In the case of new management (exercising operational control over 14 CRF Part 121 or 135 carriers), that has to be registered with and approved by the FAA.

As a point of fact, when a company changes its' name or "d.b.a.", a filing must be made with the DOT. In Pace's case, that filing was approved by the DOT on 21 July, 2009.

No one has said anything about "owning aircraft". That's an entirely different matter.

G'day:)

Mr. Phantom, :confused:Is Pace hiring...I missed that! thanks I may need a job soon!

Not in the Know
 

Hrdlndg:

I really don't know if Pace is planning to hire anytime soon or not.

The new owner, Mr. Rogers, has stated in company releases, that his All-Star Fan League will necessitate the acquisition of a lot of MD-83 A/C. From that, one might assume that pilots are going to be hired; however, I don't know where that project is as of today.

I would be more concerned, if I was applying, about the company's apparent lack of ability to meet the payroll dates, especially after Mr. Rogers published a letter to employees outlining the pay dates...and then missed those dates....again. Company employees stated that an "all-employee" meeting was held today in which Mr. Rogers apologized for the fact that they "missed" the payroll again but what would be more troubling to me is that when a mechanic asked Mr. Richardson, Pace's President, what happens if the financing they were counting on doesn't come through and he just shrugged his shoulders as if to say he didn't know.

Hmmmm......Maybe that Wallmart greeter job isn't that bad after all.

G'Day Mates:)

I hate to say it, but the writing is on the wall. I hope I am wrong.

I learned this in Econ101...when you can't meet variable costs of which labor is a component, you're done. just a matter of time. and you can't grow without an injection of capital. spirit would be toast if the founder hadn't sold out to the doctor who sold out to the california venutre captial fund ...

A Good Student
 

Sounds like you paid attention during Econ 101. I agree.

Pace employees have told me that August is their slow month but things pick up as they get closer to September with more seasonal customers returning. If Pace can't make payroll now with their operation in Atlantic City picking up (two aircraft flying almost 5 days a week), their operation in San Juan set to begin plus the existing sports charters, I figure that they may have a few weeks until the cash completely runs out. As a 121 certificat holder, when that happens, the Feds get "very interested"; FAA ramp checks become the common place; fuel vendors put you on COD; vendors who have "carried you on the books" take legal action and the ship begins taking on more water than the bilge pumps can handle.:eek:

Too bad...it had potential

G'Night Mates:)