Astar lay offs

[jetjock6]

This headline just came out from Air Cargo World but the caption states that layoffs will occur by 7/1/2009. Is that a misprint? Old news?

http://www.aircargoworld.com/

 

[hvydriver]

This headline just came out from Air Cargo World but the caption states that layoffs will occur by 7/1/2009. Is that a misprint? Old news?

http://www.aircargoworld.com/

Misprint. It should say 2010.

 

[rod farva]

Add 300 more to the list. Sweet baby jesus.

 

[jetjock6]

Sorry to hear that guys.

 

[lansen]

Didn't you just buy some new 8s and a sim?

 

[hvydriver]

Didn't you just buy some new 8s and a sim?

Well, that would be news to us, Lansen.

 

[lansen]

Well that was the news around the rumor mill anyways. I was talking to some ex ABX guys who thought you picked up some UPS equipment. I hope the layoffs don't come, I'd hate to see more brothers out on the street.

 

[b707guy]

I was talking to some ex ABX guys who thought you picked up some UPS equipment.

There may have been some engines and other spare parts that came from UPS, but my understanding of the agreement with Boeing was that the airframes had to be scrapped.

Hvy, is the July date a reprieve from the original March 2010? Will the 8s still be operating after July?

 

[hvydriver]

There may have been some engines and other spare parts that came from UPS, but my understanding of the agreement with Boeing was that the airframes had to be scrapped.

Hvy, is the July date a reprieve from the original March 2010? Will the 8s still be operating after July?

707, as it turns out, the scrapping deal was an urban legend. The July date is for a handful of us that they need to fly till others are trained. The big furlough will occur on schedule Mar. 06, 2010. The Diesels are scheduled to operate at least through the end of 2010, at the same level of ops. we have now.

 

[landlover]

There may have been some engines and other spare parts that came from UPS, but my understanding of the agreement with Boeing was that the airframes had to be scrapped.

Murray has an "new" dc-ocho with ups paint scheme parked on the ramp.

 

[lansen]

Yup national/murray piked up one. The others are MIA

 

[lansen]

I've heard through the grapevine that the others have turned up at ILN, but it's not ABX that got em.

 

[N813CA]

Does this affect the new hires at ATI?

 

[b707guy]

Anyone heard of this?

AerSale, Inc. Acquires CFM56 Powered DC8-70 Fleet
prnewswire


Press Release Source: AerSale, Inc. On Wednesday February 3, 2010, 4:53 pm

CORAL GABLES, Fla., Feb. 3 /PRNewswire/ -- AerSale announced today the acquisition of a fleet of 44 Douglas DC8-71F/-73F series freighter aircraft powered by CFM56 engines. Â Included in the purchase is the company's entire inventory of CFM56-2C1 engines, DC8-70 series spare parts & tooling, and a Level D (full motion) DC8-70 series flight simulator. "One of the cornerstones of our business model is to facilitate airlines with their fleet transitions," stated Nicolas Finazzo, AerSale's Chief Executive Officer. Â "Dealing with a single counterparty that can efficiently realize the value of such a diverse package of difficult to finance aviation assets was a major factor in AerSale winning the contract. This transaction is only the first of several large scale multi-fleet acquisitions included in our 2010 forecast."

The Douglas DC8-70 fleet was manufactured in the late 1960s and early 1970s, and was re-engined with the CFM56-2 powerplant in the early 1980s. Â This engine series also powers the Boeing KC135 tanker and E-3 AWACS fleets flown by the US and numerous foreign militaries. Â There are approximately 2,300 CFM56-2 engines in operation worldwide. Â The CFM56-2 is the predecessor to the CFM56-3 and other CFM56 family engines which have broad application across the world's fleet of passenger and cargo aircraft.

"With this package we can effectively service the remaining DC8-70 fleet despite its limited future; however strategically, the real value comes from the parts value of the engines," added Robert B. Nichols, AerSale's Chief Operating Officer. Â "With over 180 CFM56 engines included, AerSale is already positioned to become the leading provider of aftermarket CFM56 material. Â This is welcome news to our MRO customers who will depend upon a reliable source of aftermarket inexpensive high quality OEM parts, as an alternative to expensive new parts. Their customers in turn benefit by lower shop visit costs, which ultimately extends the economic lives of maturing CFM56 powered fleets."

About AerSale. Â AerSale is a global provider of aftermarket aircraft, engines, and their component parts to airlines, leasing companies, and OEM/MRO service providers. Â AerSale's parent company is AerSale Holdings, Inc., which recently completed a $250 Million equity raise with an affiliate of Leonard Green & Partners, LP.

www.aersale.com

About Leonard Green & Partners, L.P.  Leonard Green & Partners, L.P. is one of the nation's leading private equity firms with over $9 billion in equity commitments under management. Leonard Green & Partners, L.P. was founded in 1989 and has invested in 46 companies with an aggregate value of $35 billion.  For more information, please visit www.leonardgreen.com.

Article

 

[Fly Astar Jets]

Rumor around Astar was that Mgt. had approached UPS about the sim and UPS was agreeable but only if 10-12 A/C were part of the deal. Also part of that rumor was that only 10-12 of the A/C were considered "clean" enough to sell (due to paperwork issues) as turnkey flyable.

FAJ

 

[nitefr8dog]

I've heard through the grapevine that the others have turned up at ILN, but it's not ABX that got em.

Was just in ILN for training did not see any DC 8s anywhere? FWIW.