Era Aviation wholly-owned by Frontier Alaska
Era Aviation wholly-owned by Frontier Alaska
02-17-2009, 12:18 PM
#2
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Financially troubled Era Aviation acquired by rivals
Anchorage Daily News
Published: February 17th, 2009 11:52 AM
Last Modified: February 17th, 2009 11:52 AM
Anchorage-based airline Era Aviation is being acquired by owners of rival airlines in Alaska.
HoTH Inc. said it expects to complete its purchase of Era on Feb. 27. No purchase price was disclosed.
HoTH is owned by John Hajdukovich, Mike Hageland, James Tweto and the parent company for Frontier Flying Service Inc. and Hageland Aviation Services Inc.
Hajdukovich will become chief executive of Era and will integrate Era with Frontier.
"Era operations will allow us to right-size the aircraft to our markets. Era has an excellent safety record and culture that will complement our strategic goals of developing a statewide network of professional airlines that set the standard for safe operations," Hajdukovich ssaid.
Era serves Anchorage, Fairbanks, Bethel, Cordova, Homer, Valdez, Kenai and Kodiak with scheduled passenger flights, and flies charters as well.
Era endured a series of hardships in the middle of this decade, with the company being sold a couple of times and spending about a year reorganizing in U.S. Bankruptcy Court. As the decade began, it was a major regional airline with both helicopter and fixed-wing operations. A Texas company bought it in 2005 for its helicopter operations, then a few months later sold the airplane business to a group of West Coast investors.
In late 2005, the airline entered Chapter 11 bankruptcy protection over a $12 million dispute with a creditor. The airline emerged from Bankruptcy Court a year later and since has expanded.
Frontier and Hageland merged last year under the parent company Frontier Alaska, based in Fairbanks. Hajdukovich bought Frontier in 1974 and it has been a key Fairbanks-based airline. Mike Hageland founded Hageland Aviation in Anchorage in 1981.
At the time of the merger, Hageland said that "aviation is a tough business. There's too many carriers in most of the markets. Possibly, we'll make one good company out of the two that were just rolling along."
W. Stephen Jackson, Era's current chief executive, said Tuesday that the purchase of Era "is a very intelligent business decision for HoTH and will enable the combined entities to provide ever higher levels of safety and service to customers along with greater financial stability for employees." After the acquisition, HoTH will have about 700 employees and annual revenue of more than $100 million, the company said.
Anchorage Daily News
Published: February 17th, 2009 11:52 AM
Last Modified: February 17th, 2009 11:52 AM
Anchorage-based airline Era Aviation is being acquired by owners of rival airlines in Alaska.
HoTH Inc. said it expects to complete its purchase of Era on Feb. 27. No purchase price was disclosed.
HoTH is owned by John Hajdukovich, Mike Hageland, James Tweto and the parent company for Frontier Flying Service Inc. and Hageland Aviation Services Inc.
Hajdukovich will become chief executive of Era and will integrate Era with Frontier.
"Era operations will allow us to right-size the aircraft to our markets. Era has an excellent safety record and culture that will complement our strategic goals of developing a statewide network of professional airlines that set the standard for safe operations," Hajdukovich ssaid.
Era serves Anchorage, Fairbanks, Bethel, Cordova, Homer, Valdez, Kenai and Kodiak with scheduled passenger flights, and flies charters as well.
Era endured a series of hardships in the middle of this decade, with the company being sold a couple of times and spending about a year reorganizing in U.S. Bankruptcy Court. As the decade began, it was a major regional airline with both helicopter and fixed-wing operations. A Texas company bought it in 2005 for its helicopter operations, then a few months later sold the airplane business to a group of West Coast investors.
In late 2005, the airline entered Chapter 11 bankruptcy protection over a $12 million dispute with a creditor. The airline emerged from Bankruptcy Court a year later and since has expanded.
Frontier and Hageland merged last year under the parent company Frontier Alaska, based in Fairbanks. Hajdukovich bought Frontier in 1974 and it has been a key Fairbanks-based airline. Mike Hageland founded Hageland Aviation in Anchorage in 1981.
At the time of the merger, Hageland said that "aviation is a tough business. There's too many carriers in most of the markets. Possibly, we'll make one good company out of the two that were just rolling along."
W. Stephen Jackson, Era's current chief executive, said Tuesday that the purchase of Era "is a very intelligent business decision for HoTH and will enable the combined entities to provide ever higher levels of safety and service to customers along with greater financial stability for employees." After the acquisition, HoTH will have about 700 employees and annual revenue of more than $100 million, the company said.
02-17-2009, 04:23 PM
#7
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Originally Posted by Kilgore Trout
So does this mean it'll be easier for Frontier folks to non-rev from Fairbanks and go on day trips for halibut fishing?
Trust me though, upgrades to the Dash will take 5 years I bet and seniority battles will rage for decades.
So... Hageland, Frontier, Era, time to consolidate some more... Grant and Penair... you're next. (Kidding, or am I?)
02-17-2009, 04:31 PM
#8
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Posts: 4,511
Originally Posted by eraops
Anchorage-based airline Era Aviation is being acquired by owners of rival airlines in Alaska.
HoTH Inc. said it expects to complete its purchase of Era on Feb. 27. No purchase price was disclosed.
HoTH Inc. said it expects to complete its purchase of Era on Feb. 27. No purchase price was disclosed.
I'm guessing their primary target will be the shield generators.
02-18-2009, 07:28 AM
#10
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Joined APC: Jul 2006
Position: Groundlooped and liking it
Posts: 266
Bummer for ERA pilots, is my guess. Doesn't ERA use 121 time and duty regs? No more 1400 hours a year at Frontier. Anyone have a clue how seniority is going to be integrated? Staple ERA to the bottom and send them to be based in Nome? I'm thinking way over 5 years to upgrade in the dash now.
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