Gemini Chapter 11

[Classicdriver]

Wasn't Atlas's Ch.11 a few years back similar to GAC's situation?

Yes, it was very much the same, except it envolved Polar Air Cargo as well, and the Polar creditors were not all on board at the time of filing. That's one reason it took six months. Atlas/Polar were within hours of losing some -400's.

That's the primary reason they didn't mess with the Polar and Atlas contracts, they didn't have time to waste. Of course mangement uses it to show how nice they were, right.

It was explained to us that BK was a way for the creditors to get tax breaks to even out some the loses with the reduced leases.

 

[kevdog]

Doesn't HIG now own Amerijet? Read they are probably going to acquire Gemini.

 

[Chronic Jetlag]

Carlyle is not in the business to lose money, that's why they sold it to Bayside. By filing for bk, they now have the ability to break the union contract and sell off the airline piece by piece; parts is worth more than the sum. Get out while you can, don't go down with the Titanic.

 

[RJDC]

I heard that UPS is looking to buy 4 MD-11's that are currently operated by a single anonymous operator in financial trouble. Any idea who that could be?

 

[Ciao for now]

Fogrunner, I do like it at gemini, I like the Airplane and the people that i fly with...Do I trust the managment? Do i trust the things that were said and promised in the past??? sorry to say but no. Do I think that the payfreeze that was supposed to last a short period of time to help out the company should still be in effect??? Do I think we as pilos should be giving the company weeks of vacation to make things work??? NO!
Everybody here bend over backwards to make ends meet....now it should be the time that we get some appriciation for the sacrifices that were made in the past. Thats all.

 

[30West]

I heard that UPS is looking to buy 4 MD-11's that are currently operated by a single anonymous operator in financial trouble. Any idea who that could be?

Source?

 

[RJDC]

Ask any UPS pilot. Going around their pilot group big time. They are looking to buy any and all MD-11s they can get their hands on.

 

[Chronic Jetlag]

be objective

Fogrunner, I do like it at gemini, I like the Airplane and the people that i fly with...Do I trust the managment? Do i trust the things that were said and promised in the past??? sorry to say but no. Do I think that the payfreeze that was supposed to last a short period of time to help out the company should still be in effect??? Do I think we as pilos should be giving the company weeks of vacation to make things work??? NO!
Everybody here bend over backwards to make ends meet....now it should be the time that we get some appriciation for the sacrifices that were made in the past. Thats all.

I really wish the best for all my ex G spot buddies, they are some of the best pilots I've worked with but I'm afraid the writing is on the wall. Pay freeze still in place, LWOP, surrendered vacation, loss of Q of L, and the company still ended up in BK. Bayside Capital will liquidate the company in a heartbeat if they think they can make a buck or an extra buck. I'm not saying this to wish ill will on the good folks at Gemini, I still have good friends there. Get out and save yourselves.

 

[IHaveAPension]

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.

 

[treetopflyer]

it must be spring break at the tech school rhoid/ihaveapension/rjdc goes to. what are you studying this quarter, dental hygenics? still dreaming of an airline career i see. so sad, but completely entertaining.

 

[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???