ABX buys Pace

[Longhorn]

Guys, please DO NOT post real names!!

 

[lahyatt]

As far as how Pace is doing? That would have to be asked before or after Brooks. Pace has a good business going with the sports teams. We do a lot of Platnum charters.(Casino) We are privately held company so we do know $$$$$ We were growing happily we have had some descent management through the years, Then we got bought by hooters and things took a different turn. He wanted flying billboards did not care about the business of flying airplanes to make $. We still have some sports teams and rumor is more want to sign but they are waiting to find out what is happening with the sale.

Those of us at Pace are waiting to be put out of the misery of seeing what is coming next. There is at least 100 options of what can happen and I think we have thought about all of them. As I said early there is only about 30 left on the seniorty list.

 

[lahyatt]

correction -----do not know $$$$$

 

[LarryinTN]

What about Hete merging ABX with Pace...

Hello Rhoid

 

[climbhappy]

why would ABX want to buy Pace...

we heard ya'll were getting many 767s that would need maintenance and refurb...for what purpose I don't know.
why buy Pace? for their maintenance certificate and maybe the 121 cert (my .02 cents) which could be an alter ego operator much like republic , freedom, gojet on the regional side.
It would suck but I don't think it is out of the realm of possibilites since Management does this all the time. Never mind contracts, they usually are violated and end up with lawyers getting rich over the arbitration.

I heard that sports jet, a broker who has used us for amny years out of Phoenix to fly NBA, MLB etc is getting their own certificate. any truth to this?

 

[LarryinTN]

we heard ya'll were getting many 767s that would need maintenance and refurb...for what purpose I don't know.

As I said, it is to convert them into freighters. We don't carry passengers.

The freighter conversion is quite extensive. The cargo door must be cut in the side and the main deck floor is replaced with one strong enough to hold the weight of the freight. A barrier wall is built and crew baggage shelves, passenger seats and oxygen system, galley and loadmaster station are all built. The process takes many weeks.

 

[BoeingBaller]

I heard that sports jet, a broker who has used us for amny years out of Phoenix to fly NBA, MLB etc is getting their own certificate. any truth to this?[/quote] Lots of truth to that..

 

[B727FA]

Every aircraft listed on the website is leased. Pace appears to own one 737-200, which is not listed on the website.

That was 219PA and has since been grounded.

 

[LarryinTN]

Ought to hear something Wednesday (Aug 9th) afternoon if the Pace deal is real.

On a different topic... Saw an Astar memo in SLC last week which said that they lost the lease on a DC8. I hear that they were hoping to negotiate a lower lease rate by threatening to turn the airplane back in (like they did with the four (five?) 727s last year) but it didn't work. The lessor found another lessee for it. Anyway... Any news on if this will result in a change in a city or can Astar continue to fly their current schedules with one less DC8?

 

[Jurassic Jet]

Ought to hear something Wednesday (Aug 9th) afternoon if the Pace deal is real.

And in related news to the Pace rumour, looks like ABX added a director to the board that is experienced with mergers and acquisitions.

A quote from the press release:

Joe Hete, President and Chief Executive Officer of ABX Air, said "Fritz Reed has a broad background in corporate legal and financial management and consulting, with particular experience in strategic and business development, including mergers and acquisitions. I am looking forward to his contributions as we expand and diversify our base of business at ABX Air."

Full story found here:

http://biz.yahoo.com/bw/060807/20060807005704.html?.v=1