Is Flight Options Close to Bankruptcy?

[mike]

I am glad that FLOPS had money to buy planes, build maintenance centers and repaint Hawkers. A good paint job on a Hawker is about 50K.

They have not paid the vendors for charter services. I am one of those guys and I talk to others daily. We use to get paid in the standard 30 days. The it slipped to 60 days in March. Now it is getting close to 90 days. Again, let me stress that an employee for the Company can't do much about this situation.

I was promised a check on the 6th of November, and I hope it is "in the mail".

 

[Answerguy]

Easy fix, if your story is true, just don't do charters anymore for FO, or get an amex # up front. Easy as that! I know before my old company did a charter they always demanded payment up front unless it was for a creditable company that they had a good history with. If they even had a hunch that they would not get paid the plane would not leave the ground. I'm sure many companys would like business from Flight Options. What is the name of your company and what kind of aircraft do you operate?

 

[flexlrpilot357]

Avolar had some big plans too.

 

[Answerguy]

Avlor was a few years late and a half billion short. Wonder if UAL will ever get their cash back from Gulfstream?
Flex have you heard anything about Flexjet merging with Options? Last week i talked to a guy that knows a girl who's mom's son, who flys for Flexjet told her that many Flex people were flying into CGF for meetings. I'm not kidding!

 

[fracman]

That would be a very interesting partnership - Raytheon/Bombardier/Flops! At least Kenn would achieve his dream of being the biggest frax program.

 

[mike]

The charters for FLOPS use to be paid in the standard 30 day period. I did not think of asking for a credit card on an established three year old account. This was a good account with good activity and a 300K credit limit.

We have not flown for FLOPS in the last 56 days because we do not accept flights from past due clients. Lori calls once or twice a week, but my hands are tied.

We fly Hawkers.

If you have more questions, send me a private message with your telephone number. I will call you on my dime.

 

[SheGaveMeClap]

Yeah, that'd be real great, having a FlexJet merger. Then we could run another modified date of hire merger and watch the seniority list grow in front of us again.

They talked about 2,400 pilots by the end of 2005. I'm not sure they could hire that many in the next three years. If that's going to happen, it'll be with mergers. I sure hope it doesn't happen.

 

[flexlrpilot357]

Nah, no chance. FlOps couldn't even buy our used 31's.

 

[Answerguy]

Can't give those 31's away these days. Way to small inside compaired to a Beechjet or a Premier. Are they still making new 31's? YO CLAP how ya been? 2400 pilots by 2005? A merger must be in the works. Now my new # does not sound so bad! That date of hire thing was lots better than the other options i think. Putting the TA guys at the end of the list would have been really bad though.
Later!

 

[flexlrpilot357]

LR31 shares, though out of production, are still pretty popular. I'd put them up against anything in the class anyday.