Phantom Flyer

One of our managers was informed by the FAA that Pace Airlines, an FAA Part 121 Charter carrier based in Winston-Salem, NC, surrendered their certificate to the FAA on 30 December, 2009. Pace had operated B-737, 757 and 767 aircraft and had contracts to fly the Dallas Mavericks, Carolina Hurricanes and Oakland Athletics in addition to numerous "high end" charters.

For those who worked at Pace or followed their demise at the hands of Mr. William (Bill) Rogers of Kansas City, Stuart Varney and Darrell Richardson this has to be the ultimate insane action taken by these individuals and those who control the assets of Pace Airlines. While the certificate has been "inactive" since September 17th, to simply surrender an asset some value at over $1 million dollars on today's market simply defies belief.

Oh well....

G'Day Mates

Twin Wasp

If you don't have any operations on a certificate, the Feds will come looking for it after 90 days. And the certificate by it's self isn't worth much, you need the company (which is really the 5 people listed in A06) along with the piece of paper.

EatinRamen

Well there goes any asset the creditors could use in the bankruptcy proceedings.

Phantom Flyer

Actually, the certificate was "voluntarily" surrendered on 17 September,2009 and the GSO FSDO was holding it pending action by several courts.

That certificate, which was an "unlimited" CFR14 Part 121 certificate (typically held by the legacy carriers and not available today) was worth money and the management team that you referenced (A06) were still legally "on the certificate"....until the action on 30 December. Several creditors have filed lawsuits to force a determination of the legal "ownership" of Pace and the certificate. Once this had been accomplished, investors could have purchased the corporate assets (certificate), which was still intact. With this action, it's doubtful that determination can or will be made.

I'm not a barrister but those close to the company have said this is accurate.

G'Luck to those who worked for Pace.

Phantom Flyer

That's exactly what happened !

Game, set, match...

Good night Ladies & Gentlemen

SkiBum112

Well...the insanity had to end some time. Now when do we get our backpay

ATPasemel170

No kidding! I'd still love to press criminal charges for theft for the insurance premiums deducted off my last paycheck when the insurance coverage had already been terminated two weeks prior (along with everyone else's). It probably wouldn't do any good, but it would feel good.

The latest actions make sense now, after Mr. Rodgers was excused from the last court date over the holidays. He was up to something and he did it again.

cac737

I worked there when it was a great place that was growing! The people there were great! I am sorry to hear that it all ended the way it did. There was no dignity in it whatsoever.

I will always remember the great times I had there with great people!

Godspeed everyone!

SkiBum112

What else did he do? I must have missed it.

yoke jerker

I'm sure it is a typo but you spelled Carnies name as Varney. Stuart Varney is an australian financial analyst for Fox News. just to get it right.