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PenAir Pilots Fortress of Solitude

Old 10-17-2017, 09:32 AM
  #471  
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Hey guys
I'm a very low time twin/IFR pilot, got plenty of other stuff but it doesn't help much. 30 years old, no family, no house, etc., had thought all I wanted to do was fly ag but once that turned into just 16 hours of back and forth over soybeans I decided to see what else is out there. PenAir is desperate enough to hire me, and my thought is that even if they go tits up in April I'll gain my ATP, get some multi turbine, and get to say I lived in Alaska in addition to the Midwest and South. If they're decent, stay till the ATP/CPT agreement is over, (they're paying my tuition) and then see what happens. Granted, they can put "Anchorage" on the paperwork and then ship me to Boston, but what the Hell. Bad idea, good idea, or just a waste of time?
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Old 10-18-2017, 08:45 PM
  #472  
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Originally Posted by CH7Adriver View Post
Hey guys
I'm a very low time twin/IFR pilot, got plenty of other stuff but it doesn't help much. 30 years old, no family, no house, etc., had thought all I wanted to do was fly ag but once that turned into just 16 hours of back and forth over soybeans I decided to see what else is out there. PenAir is desperate enough to hire me, and my thought is that even if they go tits up in April I'll gain my ATP, get some multi turbine, and get to say I lived in Alaska in addition to the Midwest and South. If they're decent, stay till the ATP/CPT agreement is over, (they're paying my tuition) and then see what happens. Granted, they can put "Anchorage" on the paperwork and then ship me to Boston, but what the Hell. Bad idea, good idea, or just a waste of time?
With all the negatives to PenAir, I would say that if you want to live in Alaska and be home every night then do it. They will tell you it’s a quick upgrade but don’t believe it with the Chapter 11. If they loose the Pribilofs, McGrath, and have a bad A season then it would be my guess they won’t last through spring, but at least you will get a free type rating if it happens that quick.
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Old 10-31-2017, 11:02 PM
  #473  
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Originally Posted by Deadpool View Post
https://www.ch-aviation.com/portal/n...utes-in-alaska

I have been pondering the implications of this article for the past few days. From a business standpoint, I applaud Danny's acumen to leverage the only asset he has, government subsidies. From a taxpayer standpoint, I cringe knowing that my hard earned tax dollars are going to an infantile run "mostly" family owned business.

To be honest with you, I think Danny has a good chance of conning the Federal Government into paying the demanded EAS ransom. In the short term, this cash flow might give PenAir the ability to survive (presumably, unless there is a hidden gem in Chapter 11); however, I believe the DOT cash is a shot of adrenaline in the arm of a strung out junkie. Yep, a prolonged death
UPDATE: EAS Ransom Demand Failed

Rumor on the street is that DS has removed his request for additional EAS subsidies, despite notifying the Department of Transportation that PenAir will cease all unsubsidized routes to St. Paul, St. George, and McGrath on November 12, 2017.

It seems that other operators were willing to compete with PenAir if the DoT added them to EAS. Is PenAir ceasing service to St. Paul, St. George, and McGrath after November 12, 2017? Ummmm, NOPE.
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Old 11-16-2017, 05:58 PM
  #474  
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Old 11-17-2017, 08:33 AM
  #475  
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Sorry , above post failed...Things starting to Stabilize up north?
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Old 11-18-2017, 10:49 PM
  #476  
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Latest rumor is Ravn is going to buy Penair.
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Old 11-19-2017, 02:14 PM
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I heard from a very reliable source that Alaska was buying us, all ca’s will be offered direct entry ca spots and retain there hire date for seniority, Danny and Scott will be given sr vp jobs, bill and Ben will be the do and chief, 737 jobs for everyone !! Well accept for capt america ! Alaska figures if you can’t fly a pa 22 you prolly can’t fly a 73
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Old 11-19-2017, 05:11 PM
  #478  
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Originally Posted by alaskadrifter View Post
Latest rumor is Ravn is going to buy Penair.
If you guys do get bought I hope it's better than the Yute acquisition for your sake.
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Old 11-19-2017, 09:10 PM
  #479  
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Originally Posted by alaskadrifter View Post
Latest rumor is Ravn is going to buy Penair.
Or they could sit back and let PenAir implode and pick up the scraps for cents on the dollar. PenAir has very few assets, not too sure what they are buying other than the certificate?
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Old 11-22-2017, 07:54 PM
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Originally Posted by alaskadrifter View Post
Latest rumor is Ravn is going to buy Penair.
You have it backwards. I'm not joking. I heard from someone who talked directly (in person, on the ramp) to the VP of flight ops that the offer was recently made. Ravn/Corvus are making moves and they don't quite know if it's to begin a takeover push or quit Alaska altogether. I'm guessing with the offer for Penair to buy Ravn they are trying to capitalize on the possibility of the latter happening. Also was told the new bankroll folks are very confident in our financials (skeptical) and stand behind a buyout bid.

Either way, more interesting times are ahead.
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