mordi

Wow, this is bad! This is good?? Kinda sucks because I know people at ERA. Hard knowing that you benifit from people that will loose everything. It can be fun just poking at each other, but not so if they go down. They are like brothers over there.

mordi

you get your stuff into Phil?? Here comes the next round of upgrades!!

Tuff

I've been out for awhile. I think the extension was approved for ops into March. Read the paper today and it didn't sound good, but talked to work and of course there is nothing to worry about. I think there is another hearing today.
I don't know if Danny and group went to thursday's court date, but CapitalSource's lawyers were blasted for misinformation and no good reason to liquidate. I'll tell yo how its going to be in one year.

akpilot7

From what I understand, ERA has until March 14th to find 16 million in financing. If they can't find the $, back to court they go. This time I don't think the judge would give them an extension. You can bet there are some management types not sleeping well.

185flier

the date is feb 14
they have enough cash to last until march 3rd if the judge lets them
rumor yesterday was that an accounting supervisor advised employees to start looking for another job

Tuff

I don't think Landis ever sleeps well because it messes up his hair.

On that same note, given the current state of the airline industry, I don't think many can sleep well (unless they have a safety net). Just this summer we were high on new owners who said money was no object and had it falling out of their pants. Now look where we are.
THis in not an attack, so please don't take it this way, but I remember 3-4 years ago when you guys were furloughing and we were sitting in around preparing classes for you guys about ready togo under. We had even been contacted by ALaska airlines. BUt then DUT happened and now you guys seem to be on better footing (not great footing since you couldn't find a few extra pilot jobs for your caravan guys).
My point is that in our tightly controlled state (thanks AS), the pendulum can quickly swing in either of our's direction, hopefully (right now) ours doesn't swing so far that it falls off the table.

185flier

you are right tuff
its a tough business and i am glad i just fly and dont have to worry about how to make payroll.
The prior bad time for PenAir was just before the oil spill they were about to go under and then exxon happened and the next few years were big fat contracts that bailed them out
wasn't here then but thats the storie
we are no different then the majors right now
i do feel comfortable with penair right now hopefully that wont change
the reason we let the copilots on the 208 go is because they feel that the stabilizor on the 208 caused the crash and two pilots would not have helped
and in our pilot ranks no one has left for a while so they had no place to go

Frozen Ronin

Ok, so anyone know the inside scoop on the latest? There was supposed to be an action in court this week, concerning the payment of debt?

akpilot7

I haven't heard a thing lately. Last I knew, they had until FEB 14 to come up with new financing, but enough cash on hand to last until early March. Anyone know otherwise?

185flier

hearing got postponed until march 3rd or 6th