Connie did it again

[OrionFE]

Over the course of 30 years, Kalitta built up an airline that was among the 25 most profitable at the time, in the world. It took Kitty Hawk a year and a half to run it into the ground. Kalitta bought back, started with a few airplanes, and in less than seven years is more profitable with a fraction of the airplanes...once more, and his assets are growing and making money. He's expanding, where others are shutting their doors or liquidating.

How can Kalitta make it go where others can't? He's always managed. Owning all the aircraft outright, helps. Right, wrong, or backwards, I wouldn't underestimate his ability to make a company go.

You hit the nail right on the head!

 

[landlover]

Over the course of 30 years, Kalitta built up an airline that was among the 25 most profitable at the time, in the world. It took Kitty Hawk a year and a half to run it into the ground. Kalitta bought back, started with a few airplanes, and in less than seven years is more profitable with a fraction of the airplanes...once more, and his assets are growing and making money. He's expanding, where others are shutting their doors or liquidating.

How can Kalitta make it go where others can't? He's always managed. Owning all the aircraft outright, helps. Right, wrong, or backwards, I wouldn't underestimate his ability to make a company go.

the most important ingredient! planes arent flying? who cares they are paid for already.

 

[hkgorbust]

the most important ingredient! planes arent flying? who cares they are paid for already.

Economics 101 for home or business:

Low (or zero) debt load = Better ability to weather tough times. Hunker down, pay the utilities and don't sweat the small stuff. Wait out the down cycle for better times.

Not to sound over-simplistic, but it is what it is.

 

[FBN0223]

American International Airways, which was once owned by Connie was basically run into the ground by Connie himself. Shortly before an imminent bankruptcy, Connie sold AIA to Kitty Hawk and they were tasked with the dirty work and pulling the plug on Connie's bankrupt operation. Connie bought back parts of the operation at a "fire sale" and started back in business as "Kalitta Air".

Connie is a good business man but certainly not immune to or unfamiliar with the bankruptcy process as he also been a participant in unwise operational decisions.

 

[dutch747]

I heard that Connie did not accept the lease deal on those 2 744's because of the engines were almost timed out.

Anyone know the real deal?

 

[pilotyip]

It is risky

Connie is a good business man but certainly not immune to or unfamiliar with the bankruptcy process as he also been a participant in unwise operational decisions.

Connie likes airplanes, he will takes risks other people would not take to expand his airline. I think he is like Duane Zantop and Allen Ross, grow an airline. As opposed to Jim Zantop who avoided risk to preserve cash.

 

[FBN0223]

Connie likes airplanes, he will takes risks other people would not take to expand his airline.

To be more accurate... Connie likes "cheap" airplanes and "cheap" labor, both of which he has in abundance.

 

[pilotyip]

How much is cheap?

To be more accurate... Connie likes "cheap" airplanes and "cheap" labor, both of which he has in abundance.

I know a 4 yr connie 747 capt made close to $200K last year, is that cheap?

 

[FBN0223]

I know a 4 yr connie 747 capt made close to $200K last year, is that cheap?

A four year B747 Captain at Kalitta makes $112/hour. It's not cheap, it's pathetic.

But in any case, your poor sap is out flying a B747 at $112/hour. To make 200k for the year at an hourly rate of $112 per hour, it's safe to say that your buddy spent well over 80% of his/her life last year on the road flying for Connie.

Not a lifestyle that most would brag about regardless of the money.

 

[pilotyip]

Union Contract

A four year B747 Captain at Kalitta makes $112/hour. It's not cheap, it's pathetic.

But in any case, your poor sap is out flying a B747 at $112/hour. To make 200k for the year at an hourly rate of $112 per hour, it's safe to say that your buddy spent well over 80% of his/her life last year on the road flying for Connie.

Not a lifestyle that most would brag about regardless of the money.

I know they have a lot of incentives beyound straight hourly pay, union looks out for their guys, they seem generally happy over there. I know there pay is no where near a Captain at USA Jet that gets $122.00/hr for flyign a DA-20 and $173.00/hr for flying a DC-9