Delta AirElite/Segrave Pegasus Elite Merger

[AIRBORNEAVENGER]

Any truth to the rumor??? Any word on progress????

 

[holden1]

Actually heard a couple of times yesterday that Segrave may have stopped operations? Rumor or any truth?

 

[minitour]

Actually heard a couple of times yesterday that Segrave may have stopped operations? Rumor or any truth?

Rumor. We've got a full schedule the next two weeks or so.

-mini

 

[PiratePilot]

Segrave parked all Hawker 1000s and Beechjets 400A/400XPs on 21SEP09 and furloughed all the pilots. Segrave hired pilots off the street to fly LR60s and HS-125s instead of having to pay for types for the furloughed pilots.

 

[StarHustler]

What a quality outfit.....

 

[minitour]

What a quality outfit.....

You have no idea.

I'm not employed by Segrave...the owner of my plane contracts us out to them.

It still sucks.

-mini

 

[BayBum37ft]

I talked to one of our Hawker 1000 crews on Sept. 22 in Boca, they were in the middle of a trip.

 

[PDTGIMP]

Four beechjets from Kinston, NC have arrived at FCM and parked at Elliott over the last two days and look they they are getting buttoned up for storage...shame. Good luck to all those guys now finding themselves on the street!

 

[In The Wind]

I heard FAA is investigating Sergrave, as we as NTSB an North Carolina Dept. of Labor. There are several law suits against them now from Pilots. It should take much for the Feds to shut them down. The only way it will work is with the DAE mgt. Ssgrave mgt team is horrible.

 

[PiratePilot]

FYI-
http://profit.ndtv.com/2009/09/04185922/Pegasus-Fund-to-launch-its-own.html##

Pegasus Fund to launch its own pvt charter biz

The aviation industry may be bleeding but the private aviation space is heating up.

Private charter players like Club One Air will soon face competition from private investment firm Pegasus Blue Star Fund (PBSF), part of the US based $1.8 billion Pegasus Capital. PBSF is soon going to launch its own private charter business in about six months.

Paul Parmar, chairman and founding partner, PBSF says, “Every other fund manager in the market has 0.5 per cent of his own money invested. I will continue to have 60-70 per cent of my own wealth invested in every transaction. So, when I bring in an outside investor it’s not to charge him a fee but to invest on a larger scale.”

NDTV has learnt that the venture will be called Pegasus Elite Aviation and Pegasus will pick up a majority stake in the company. Also, Mumbai based industrial house Topworth Group will pick up a minority stake.

The initial investment from Pegasus will be around $40 million and the initial fleet will include 8 jets and 4 choppers.

But does it make business sense to enter the aviation space at a time when existing players are finding it difficult to survive? Those in the private charter business are convinced that there's room for more.

Manav Singh, Managing Director, Club One Air says, “The market is limited and there are very few people who charter planes, so the existing pie is going to be divided.”

Parmar is also looking to set up a private equity fund in India and is exploring possibilities in the healthcare sector. But whether his aviation business really takes off will be worth watching out for.