Financial problems for Sentient

[TransMach]

Not a Business Man

But why would any charter company let Sentient get into them in the receiveables ledger? I've got a very high credit score, but when I purchase a meal at a restaurant, purchase a tank of gas or anything else that "once it's used, it's gone" ... I HAVE TO PAY FOR IT, RIGHT THERE AND THEN.

Why would anyone lend $25,000, $50,000 or $100,000 to a charter broker? Which in effect you are doing when you fly a trip that you haven't been paid for. You see, if the broker pays and you don't fly, you can give them money back, the money is still in your accounts. If the broker doesn't pay, and you fly ... you can't give the trip back. The trip is done, gone no way to recover it. No way!

This business is just crazy when it loans big bucks to each other without collateral. It just seem like a fool's fondry ...

TransMach

 

[BobbyBiplane]

But why would any charter company let Sentient get into them in the receiveables ledger? I've got a very high credit score, but when I purchase a meal at a restaurant, purchase a tank of gas or anything else that "once it's used, it's gone" ... I HAVE TO PAY FOR IT, RIGHT THERE AND THEN.

Why would anyone lend $25,000, $50,000 or $100,000 to a charter broker? Which in effect you are doing when you fly a trip that you haven't been paid for. You see, if the broker pays and you don't fly, you can give them money back, the money is still in your accounts. If the broker doesn't pay, and you fly ... you can't give the trip back. The trip is done, gone no way to recover it. No way!

This business is just crazy when it loans big bucks to each other without collateral. It just seem like a fool's fondry ...

TransMach

It is very simple ... when you do not have enough customers to support your cosy basis .. you look for those who do ........

 

[TimsKeeper]

those that do......

I would bet Sentient's clients aren't throwing money at them anymore either. These clients know what's going on with non-payment, operational issue, etc etc. They left vendors in the alley why not the customers next?

Splitting a company in two and saying one side is the "good" side and one side is the "bad" side isn't going to work. It was Sentient that was trying to buy up the world and dominate when all the major trouble started. I highly doubt clients/vendors/pilots are going to forget.

Now that they have such a huge piece of the pie I hope they can turn it around. I'm sure their end-result will effect the rest of us in the industry just a little bit.

Good Luck