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Delta AirElite/Segrave Pegasus Elite Merger

holden1

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

PiratePilot

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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.
 
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StarHustler

Go Mountaineers!
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What a quality outfit.....
 

BayBum37ft

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

PDTGIMP

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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

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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

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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.
 

In The Wind

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That dog is dead. Pegasus is shut down. Jim Seagrave is a failure with the help of the puddle pirate.
 

PiratePilot

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October 6th, 2009

Greetings Brothers and Sisters

This week has seen a great deal of activity for both companies - activity that
management has not acknowledged nor sent any communication out on. Rest
assured we listen and want to openly communicate what we know.

A great deal of you have taken that stand and signed up for the Pilots Forum.
Many have sent in their cards. Thank you. We need to get the word out to all the
pilots. Please pass this along, talk with your fellow pilots and get them to join the
web board and/or mail in their cards. We need to have a unified voice to secure a
better future for ourselves and families.

We want to send our sincerest regrets to the remainder of the PEA pilots who
were furloughed this past week. From what we can gather the last of the Beechjets
and Hawkers were parked and/or moved to be disposed. The company once again
has not given any notice or communication to the pilots and their families. We
have heard that a group of effected pilots are pursuing legal action through the
WARN Act (Requiring a 60 day notice before mass furloughing). We have passed
this information up to Teamsters management to see if they can offer any advice
or assistance for those effected. We can’t promise any thing at this point (since
we do not have a union voted in yet) but we want you to know that we are trying
to help our effected fellow aviators.

We also have received information that Mr. Segrave is communicating with at least
one former pilot and a stuffed animal who have posted their concerns on
Facebook yet he won’t address the entire pilot group. It appears your efforts have
gotten his and management’s attention. Lets keep the pressure on. Send in those
authorization cards! If you have gotten communications that you would like
posted on the web board please forward them to PEASAIPILOTUNITY@ibt1108.org
for review and inclusion on the web board.

There are two other issues we need to bring to your attention. First, we have
heard a SAI Hawker 800 Captain was terminated last week for what we understand
as voicing his opinion. Management got upset and let him go. This is yet another
instance where having a unified voice with a union will stop these “off the cuff”
terminations by management.

Second, we have learned there is one former PEA pilot still standing. Mr.
Ringelstein began Lear 60 Initial today for SAI. PEA pilots were told there were no
training funds yet they can find money to reward Mr. Ringelstein for walking all
over the PEA pilots backs. We wish Mr. Ringelstein all the best during his training
- training at our brothers and sisters expense. The current Lear 60 fleet lead
captain better check 6 because you are probably his next target. We hope the
company wont begin laying off fellow SAI pilots as their training expires to hire
pre-qualified “street pilots”.

In closing, please help us get the word out to all SAI and PEA pilots to join the
forum and mail in those Authorization Cards.

Sincerely,

Your Brothers and Sisters in Unity,

The Organization Committee of SAI and PEA Pilots


Helpful Links:

Pilot Web Board Information forum Address:

http://forum4.ibt1108.org/

Authorization Card:
http://www.ibt1108.org/Docs/Pilot_Authorization_Card.pdf


IBT 1108 Address:

www.ibt1108.org
 

StarHustler

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And the plot thickens..
 

In The Wind

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The word is Segrave is down to 11 planes. Well Jim, who is the problem. It is not the Pilots. Wake the F%$k up. It's the puddle pirate. No one respects him, he is destroying your company. Fire his dumb a$$ and watch the turn around.
 

starcheckdriver

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Enough
Rumor has it that the Segrave one and only HR employee was let go today. Furthermore, rumor has it that it is because the Delta Air Elite/Segrave merger is imminent.
 
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Heard Lori Dawson was taking over that position - whoever she is; and does she have HR knowledge and qualifications for the position, oh wait, that's not required?
Or like most, was working at BoJangle just last week ...
 

wildcard

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Heard Lori Dawson was taking over that position - whoever she is; and does she have HR knowledge and qualifications for the position, oh wait, that's not required?
Or like most, was working at BoJangle just last week ...

Be careful BoJangles is quite the profession that part of the world. (LOL) I would think if that merger was to happened it would have already been done. They been "talking" since March. Now its 8 months later. I could be wrong but people buy when its a steal not as prices start to stabilize, thats not saying that they are. Time will tell.
 
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8 months ... more like 18 months that merger has been in the works. Once worked at DAE and still converse with folks there; it's just as huss-huss in CVG I'm told.
 

100-1/2

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BoJangle?

You meant Pizza Inn? Right?

Oh, Wait! Or, was she QC at the Cheerwine bottling co down the street?

100-1/2
 
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