Any truth to this?

siucavflight

Back from the forsaken
Joined
Jul 30, 2003
Posts
3,512
Total Time
5000
Had a friend living in MI flying a Hawker tell me that GM is selling their aircraft, however they are selling them to a leasing company where they will be leasing them right back. This is going to have very little effect on the flight department, and the employment of the pilots.
Anyone know if there is any truth to this? I find it hard to believe, but you never know.
 

Galaxy

Watching FLOPS die slowly
Joined
Jan 8, 2002
Posts
426
Total Time
8k+
I wouldn't doubt the rumor. They are only making any move because they are hurting for money and the bad press from stupid mistakes make thme look bad. Like the press said-"You come to Capital Hill with a tin cup begging for money after getting off your private jet".
If they do this--the media s not dumb and will put vans with camera on a mast at the local airports and track them again. The we will watch another fiasco unfold while the media explains the shell game.
The pilots will not be employees of the company anymore as they will have to be employed by the leasing company. More will change than you think. With AIG and the banks giving away our tax dollars to execs that was meant to get them back on their feet and stimulate the economy the govt is not far away from sending a happy audit team in there. The auto makers should take notice of this and learn to compete with a good product that sells and operate efficiently.
I think the public is tired of learning to tighten purse strings while the CEO's of the country blow it and keep living life lavishly.
 

gret

Well-known member
Joined
Nov 14, 2007
Posts
1,008
Total Time
n/a
They can't own, or lease, an interest in any a/c according to the Treasury Term Sheet.

After all that has gone on, one would think they are smart enough to avoid any more problems with business aircraft.
 

siucavflight

Back from the forsaken
Joined
Jul 30, 2003
Posts
3,512
Total Time
5000
I was doubtful when he told me this, but he was very insistent. It sucks to think of how many pilots this will hurt in Detroit.
 

Raskal

big member, little pay
Joined
Aug 22, 2002
Posts
926
Total Time
*sigh*
I was doubtful when he told me this, but he was very insistent. It sucks to think of how many pilots this will hurt in Detroit.
There is more truth to this than not, the G's are going to Pentastar at PTK. As of now I don't know the arrangement with the pilots-last I heard they would have an opportunity to go with the planes but I don't know if that's all or some.

They will charter the aircraft for use, they won't lease them per the terms of the agreement. GM needs private lift to function, there is no getting around this. In the big picture, they will still have a flight department with pretty much access to the same aircraft as before. And yes, the media and the average constituent are that dumb.
 

BoilerUP

Citation style...
Joined
Nov 11, 2003
Posts
5,311
Total Time
1500+
Word across the way at Pro Pilot World is some GM pilots were offered employment at Pentastar, flying the same exact airframes for a fraction of the wages they were making at the General.
 

AA717driver

A simpler time...
Joined
Mar 27, 2003
Posts
4,911
Total Time
+/-13k

jetwash

Well-known member
Joined
Mar 30, 2002
Posts
877
Total Time
23 yrs
No. Just like going to a hooker isn't like being married. TC
:laugh:

That's the way they should explain it to the Senators in Washington. They will be better able to understand it.
 
Top