Financial problems for Sentient

[PMVULB AvMgr]

So it appears that Sentient's dynamic growth over the past 18 months has finally caught up with them. MY sources tell me that they are in DEEP financial doodoo, and have stopped paying their bills as well as vendors that work for them. One vendor I heard is out close to half a mill - hasn't been paid in 4 months, and they are on C.O.D. with most of their suppliers.

Anyone hear anything as to what's going on?

 

[Spooky 2]

So it appears that Sentient's dynamic growth over the past 18 months has finally caught up with them. MY sources tell me that they are in DEEP financial doodoo, and have stopped paying their bills as well as vendors that work for them. One vendor I heard is out close to half a mill - hasn't been paid in 4 months, and they are on C.O.D. with most of their suppliers.

Anyone hear anything as to what's going on?

Stay tuned for a major announcement tomorrow along with a management shakeup and a possible name change.

 

[osy007]

I know that they owe 1 1/2 mil to a small charter group that relied to heavily on their business.

Maybe the announcement will be about cutbacks on phone calls and inflight catering.

 

[stlpilot]

Discussed over on this thread as well, sounds like major problems


http://forums.flightinfo.com/showthread.php?t=114725

 

[rice]

Stay tuned for a major announcement tomorrow along with a management shakeup and a possible name change.

Back to having Jake at the helm. Should see good things from this!!:beer:

 

[stupidpilot]

We can only hope.

 

[Webslinger]

I know that they owe 1 1/2 mil to a small charter group that relied to heavily on their business.

Maybe the announcement will be about cutbacks on phone calls and inflight catering.

That wouldnt be Xo would it?

 

[t-bone]

They owe us money, but not as much as what's mentioned in the AIN article.

 

[RedBehren]

Jake Cartwright and his entire team are back in charge of the entire operation, effective immediately. More big - and positive - changes are on the horizon, without a doubt.

I also believe everyone should offer their best thgouhts for these guys. A lot of people's jobs are on the line and it would best for all of us if survive. If nothing else, we don't need all the pilots out in the open market looking for work!

 

[Spooky 2]

Jake Cartwright and his entire team are back in charge of the entire operation, effective immediately. More big - and positive - changes are on the horizon, without a doubt.

I also believe everyone should offer their best thgouhts for these guys. A lot of people's jobs are on the line and it would best for all of us if survive. If nothing else, we don't need all the pilots out in the open market looking for work!

I'll second that and pass by best wishes along as well.