Champion Air to cease opertations May 31st

[Jimmy C. Corn]

deleted

 

[Redmeat]

Press ReleaseSource: Champion Air

Champion Air to Cease Flight Operations May 31st
Monday March 31, 2:00 pm ET
BLOOMINGTON, Minn.--(BUSINESS WIRE)--Champion Air announced today that it will cease flight operations May 31, 2008.
“This is a sad day for the entire Champion family,” said Champion President and CEO Lee Steele. “The men and women of this airline have poured themselves into providing safe, reliable and pleasing service to millions of customers over our 11 years in business. Unfortunately, our business model is no longer viable in a world of $110 oil, a struggling economy and rapidly changing demand for our services. Those factors also have impeded our efforts to attract new capital and new investors. Accordingly, the management team and our board of directors have decided that the best course of action is to cease flying and to wind up our operations in a responsible, deliberate manner.”

Steele noted that the run-up in fuel prices strongly impacted Champion’s fleet of three-engine Boeing 727s and that both the overall economic slowdown and the tight credit markets had a strong, negative impact on the airline’s business prospects and its efforts to attract investors. Compounding the challenges facing the airline was a growing trend in the marketplace away from charter carriers for certain types of flying.

“Champion really has experienced a ‘perfect storm’ that has simultaneously affected our cost structure, our ability to generate revenue and our ability to restructure ourselves,” Steele said. “Any one of those factors would be difficult; collectively they are insurmountable…even with the tremendous employees we have and the best efforts of everyone involved.
“The people of this airline can take a very justifiable pride in what they have created,” Steele continued. “This situation is in no way a reflection of their talents, their commitment or their passion for our customers.”

Champion will fulfill all outstanding service commitments and will remain fully in compliance with all regulatory, operational and labor contract requirements. The company has adequate funds to continue operations and to settle all outstanding financial obligations.

The airline’s current 550 employees will continue to receive their pay and benefits through May 31. Notification of the impending shutdown as mandated by the Worker Adjustment and Retraining Notification (WARN) Act and any similar state and local regulations is underway.



Bye Bye--General Lee

I don't know why you're bragging.

It has DIRECT implications that effect you!

 

[andyd]

How do you figure he's bragging? The General simply posted a news article like many others on here have done. Was the person who posted a like article on Aloha bragging as well?

Good juju and vibes goes out the both pilot groups, hopefully they will be able to turn a negative into a postive. Calling on all MEC's of airlines still hiring to pass a resolution calling on respective management groups to give preferential interviews to the effected pilots.

Also, calling on ANY pilot sitting in on a hiring board that see's a GO pilots resume come accross thier desk to pass on the applicant. Obviously the GO pilots lack the moral qualities needed for employment at a real carrier.

 

[737 Pylt]

I don't know why you're bragging.

It has DIRECT implications that effect you!

Far be it from me to stick up for him, but where do you see him bragging....Matter of fact, he has a thumbs down in front of the thread!
This sucks for everyone. My bet says they're not the last of the bunch to either declare BK or go out of business completely!

Regards,

737

 

[Max Powers]

He is bragging...or happy in someone else's demise. To the General it makes his mighty delta that much more great and his position in the aviation world more sought after.

Have you tools read any of his last 8,000 messages? Oh wait, someone as dumb as 737plyt couldn't pick up on a clue even if it was stapled to his forehead.

 

[geshields]

I don't think he is bragging at all. He just cut and pasted the article. Did you not see the thumbs down in the title??

Anyway, best of luck to all the folks that are still there. I had a blast while I was there.

 

[FmrFreightDog]

He is bragging...or happy in someone else's demise. To the General it makes his mighty delta that much more great and his position in the aviation world more sought after.

Have you tools read any of his last 8,000 messages? Oh wait, someone as dumb as 737plyt couldn't pick up on a clue even if it was stapled to his forehead.

Um... I'm the last person here that would stick up for the General, but he posted an article with no comment whatsoever. I don't think he was bragging (this time).

 

[Going2Baja]

Press ReleaseSource: Champion Air

Champion Air to Cease Flight Operations May 31st
Monday March 31, 2:00 pm ET
BLOOMINGTON, Minn.--(BUSINESS WIRE)--Unfortunately, our business model is no longer viable in a world of $110 oil, a struggling economy and rapidly changing demand for our services.
Steele noted that the run-up in fuel prices strongly impacted Champion’s fleet of three-engine Boeing 727s and that both the overall economic slowdown and the tight credit markets had a strong, negative impact on the airline’s business prospects and its efforts to attract investors. Compounding the challenges facing the airline was a growing trend in the marketplace away from charter carriers for certain types of flying.

Bye Bye--General Lee

It's hard for me to believe that their business model couldn't make a profit. When NWA was flying the 727 before they gave it to Champion they were raising the charter price trip by trip. The last hourly rate I heard was $7500 and what ever sports team they quoted had no problem paying it. The NWA 727 Fleet Manager said that the 72's were making more $$$ than a 747-400 full to NRT from MSP......Makes you wonder.

Sorry to hear any shop close their doors....Good luck guys & gals!!!!

But remember there's a pilot shortage right??? B.F.S.

PLEASE...PLEASE...Please don't take low wage jobs and bring down the industry. Let us fight for our profession and unite, not by union, but as brothers in commercial aviation!!!

Baja.

ps. I also have The General's back....No flaming there - Just a copy, paste, post.

 

[General Lee]

I don't know why you're bragging.

It has DIRECT implications that effect you!

Who's bragging dumba$$? I posted the article. I think it affects you more thanks to NWA owning Champ.

And, I don't know where that smiley face came from. I don't like hearing about anyone going away. Nope.


Bye Bye--General Lee

 

[General Lee]

He is bragging...or happy in someone else's demise. To the General it makes his mighty delta that much more great and his position in the aviation world more sought after.

Have you tools read any of his last 8,000 messages? Oh wait, someone as dumb as 737plyt couldn't pick up on a clue even if it was stapled to his forehead.

That is ridiculous. I am NOT happy about anyone losing their jobs. And Champ did not compete with Delta whatsoever---doing charters for sports teams and Cancun and Vegas charters. I have always enjoyed seeing their 727s and think it is a great loss. Yeah, I am pro-Delta, no doubt. But, I don't look forward to people losing their jobs. Quite the opposite.

Bye Bye--General Lee