Great News!! Flight Options Has Been Bought!!!!!

[sqwkvfr]

Most private equity firms that make purchases like this have plans to groom the company to take it public.

This usually involves stabilization and cost trimming.

I'd guess that part of that stabilization is gonna involve solving the current labor strife and most likely replacement of the current management (provided that the "erratic" nature some on this board paint of FlOps management is true), but I'm curious to know what the cost trimming measures will be.

 

[FR8DOG777]

FO training program

I heard Sandjay the other day talking about starting a new FO program in January. You pay 25 bucks an hour for some quality right seater time. Of course there is a training contract to offset the three bounces that FLOPS is required to give them before cutting them loose. Plan on seeing a new bunch of recruits in mid January after everyone here has quit on the same day to go work at a real fractional-NETJETS.

 

[jetwash]

Management at FO has it all figured out.

When the aircraft go down for MX during peak travel, they will just throw a few lawn chairs in one of Amerijet freighters and send it down to PBI to take our owners back to TEB. I am sure our POI will approve it.


This has to be addressed in the scope part of the contract.

 

[learflyer]

That's what quitters do.

The professionals I know are sticking around to save our company from the likes of Shame and Babu.

Everyone whose left including myself has vastly improved their qol.!

That's all that matters

 

[Hobbes]

Management at FO has it all figured out.

When the aircraft go down for MX during peak travel, they will just throw a few lawn chairs in one of Amerijet freighters and send it down to PBI to take our owners back to TEB. I am sure our POI will approve it.


This has to be addressed in the scope part of the contract.

The best part is that the passengers may no longer be able to detect the difference.

 

[NJAowner]

Good Luck

Most private equity firms that make purchases like this have plans to groom the company to take it public.

This usually involves stabilization and cost trimming.

I'd guess that part of that stabilization is gonna involve solving the current labor strife and most likely replacement of the current management (provided that the "erratic" nature some on this board paint of FlOps management is true), but I'm curious to know what the cost trimming measures will be.

I do not know sqwkvfr but he is on the right track. Firms such as H.I.G. are looking to vastly improve underperforming companies. However, cutting costs is a small part of the equation. The larger piece of the equation requires growing the company substantially -- usually by increases in sales, changing product, new products/services, and key acquistions. The goal is to exit in 3-5 years with a substantial increase in value. They are not looking for 20% a year but much more. Management and employees who ride along (via stock options. other incentives, and employee stock ownership plan, etc.) usually do well (but not always). One of the keys is to align the interests of owners, management and employees. H.I.G. has been very successful in the past. This should be viewed as a good sign instead of just selling the company to someone who will strip, close and sell. That is not what H.I.G. does. The pilots should still protect their interests but realize that this is a good sign and this may be a good opportunity (and definitely mcuh better than bankruptcy).

In full disclosure, while you all know I am have have been an NJA share owner for years, I have invested in one of H.I.G.'s recent funds as a limited partner. While they run several investment funds at one time, I am not sure my fund will have an investment in Flight Options (which I will no longer refer to as FlOPS).

If your management is as bad as you say, do not underestimate H.I.G. They are no dummies. You can check out their portfolio of companies at http://www.higprivateequity.com/portfolioAlphabetical.html.



Good luck.

Fly safe.

 

[skyismyoffice]

The best part is that the passengers may no longer be able to detect the difference.

Sure they will...Amerijet's planes are much nicer.

 

[skyismyoffice]

.
Firms such as H.I.G. are looking to vastly improve underperforming companies.

We are definitely underperforming.

I hope you are right with your sense of optimism.

 

[dime line]

If your management is as bad as you say, do not underestimate

We can go on forever on how bad our upper management is and the bone headed schemes they come up with. Our management is the poster child on how not to run a company. An owner called our CEO a "25 year old punk". How does that make one feel?

 

[FracMonkey]

How about we see the glass as half full for once?

How about these for starters?

Now the rumors of Raytheon deliberately shutting us down will go away.

Someone has finally taken an interest in seeing us succeed.

Shirtfinger's incompetence may finally be recognized for what it is.

Maybe we'll finally get some competent people in management. ie: The garage door salesman goes back to middle America greasing garage door rollers.

Feel free to be optomistic with me. Add your own optomistic thoughts! Add to the list, I dare you!:beer: