Gemini Chapter 11

[720degpersec]

I hope that we take back our flying that you guys are doing. Hopefully this chapter 11 will be the tool we use to take back our flying.

The only tool I can see is you. My best guess is you don't fly for Fedex and Mom is calling you from the kitchen to turn the volume of the TV down...

 

[dojetdriver]

I hope that we take back our flying that you guys are doing. Hopefully this chapter 11 will be the tool we use to take back our flying.

I thought they put you in the penalty box. Probably the only box you get.

 

[jercdevil]

I hope that we take back our flying that you guys are doing. Hopefully this chapter 11 will be the tool we use to take back our flying.

Stop crashing airplanes and this would be a non issue

WHA WHA WHA

 

[Garmin+]

John Bolduc, Managing Director of Bayside Capital, commented, “We are pleased to have participated with Gemini in restructuring the balance sheet of this strong company. We look forward to becoming its majority owner and supporting the growth of the business.”

Bayside Capital is an affiliate of H.I.G. Capital (“HIG”), a leading private equity investment firm specializing in acquisitions and recapitalizations of middle market businesses and venture capital investments. Based in Miami, Florida, and with offices in Atlanta, Boston.


HIG owns Amerijet International.

 

[B747FR8DAWG]

HIG owes Amerijet International.

What does HIG owe Amerijet???

 

[Garmin+]

Dated 12/31/2001

Amerijet quickly emerges from bankruptcy

South Florida Business Journal - December 31, 2001


All-cargo airline Amerijet International said it has successfully emerged from Chapter 11 bankruptcy reorganization, only four months after it first filed for court protection.
Amerijet is now jointly owned by its founder, CEO David Bassett, and an affiliate of H.I.G. Capital, a Miami-based private equity and venture capital firm. Bassett continues as CEO, while H.I.G. has acquired a majority interest and assisted in the financial restructuring of the company. Key elements of the reorganization were the owners' combined cash infusion of $3 million and a newly established credit facility for working capital.
The reorganization had no impact on Amerijet's scheduled route system throughout the Caribbean, Mexico and Latin America, nor on its charter and worldwide cargo services, according to Bassett as quoted in a press release.
Other key elements of the reorganization included H.I.G. Capital's purchase of Amerijet's corporate headquarters at 2800 S. Andrews Avenue in Fort Lauderdale. It is leased back to Amerijet. In addition, Amerijet has reduced its fleet of Boeing 727-200 aircraft to a total of five from an earlier fleet of 12. The company also has established an employee stock ownership plan that could acquire up to 10 percent of the company's stock over three years.
H.I.G. Capital is a private equity and venture capital investment firm with more than $750 million of equity capital under management.


Amerijet International is owned by HIG Capital (66%) and David Bassett (34%) and has 577 employees (as of January 2005).

 

[B747FR8DAWG]

Dated 12/31/2001

Amerijet quickly emerges from bankruptcy

South Florida Business Journal - December 31, 2001


All-cargo airline Amerijet International said it has successfully emerged from Chapter 11 bankruptcy reorganization, only four months after it first filed for court protection.
Amerijet is now jointly owned by its founder, CEO David Bassett, and an affiliate of H.I.G. Capital, a Miami-based private equity and venture capital firm. Bassett continues as CEO, while H.I.G. has acquired a majority interest and assisted in the financial restructuring of the company. Key elements of the reorganization were the owners' combined cash infusion of $3 million and a newly established credit facility for working capital.
The reorganization had no impact on Amerijet's scheduled route system throughout the Caribbean, Mexico and Latin America, nor on its charter and worldwide cargo services, according to Bassett as quoted in a press release.
Other key elements of the reorganization included H.I.G. Capital's purchase of Amerijet's corporate headquarters at 2800 S. Andrews Avenue in Fort Lauderdale. It is leased back to Amerijet. In addition, Amerijet has reduced its fleet of Boeing 727-200 aircraft to a total of five from an earlier fleet of 12. The company also has established an employee stock ownership plan that could acquire up to 10 percent of the company's stock over three years.
H.I.G. Capital is a private equity and venture capital investment firm with more than $750 million of equity capital under management.


Amerijet International is owned by HIG Capital (66%) and David Bassett (34%) and has 577 employees (as of January 2005).

Okay, so this is your answer,a 4 1/2 year old press release...............Thanks!

 

[Garmin+]

Answer to what? Just giving facts. I gave no opinion, insite, or whats going to happen.

So......................................relax, B747FR8DAWG THANKS

 

[B747FR8DAWG]

Answer to what? Just giving facts. I gave no opinion, insite, or whats going to happen.

So......................................relax, B747FR8DAWG THANKS

Um...........................Okay!

 

[AV8OR]

Not to hi-jack this but......

Any you Gemini folks know Cpt. Belcher? There was a photo of him in the last ALPA mag. If you do, do you know whether or not he used to fly for Piedmont or CC Air or one of those Piedmont/USAir outfits? I used to have a CP named Charlie Belcher in aircraft sales and he had a brother who flew for one of those I met one time and I was wondering of that was him? Anyway...just curiousif anyone knew.