JetDirect/SFG...

[OCR]

I believe if you are with Sunset or Regal you are now an unsecured creditor and will likely never get your expense reimbursements. However, if you came from any other company than these two, you still have the potential of getting reimbursed if the Brantley deal goes through.

In any case, and I hope this goes without saying, do not use your personal credit cards or other personal funds for any company purchases.

 

[ProFracPilot]

Has anyone found a tie between Brantley Partners (Pinkas) and Directional Aviation Capital (Kenn Ricci) in the JetDirect/SFG deal ? I don't know that one exists but it wouldn't surprise me, either.

 

[RedBehren]

Has anyone found a tie between Brantley Partners (Pinkas) and Directional Aviation Capital (Kenn Ricci) in the JetDirect/SFG deal ? I don't know that one exists but it wouldn't surprise me, either.

Pinkas was an early investor in FLOPS. He and Kenn go way back. Do the math on that one...

 

[jetwash]

Pinkas was an early investor in FLOPS. He and Kenn go way back. Do the math on that one...

That is my guess as well, Kenn Ricci said he wanted to grow Flight Options through an acquisition and his old partner Pinkas who financed Flight Options in the beginning now goes and buys Jet Direct a management company.

I smell something brewing.

Nothing will happen probably until the Pilot contract and scope negotiations are finished with the Flight Options pilots.

 

[ProFracPilot]

Pinkas was an early investor in FLOPS. He and Kenn go way back. Do the math on that one...

Yep. Fully aware of the previous investment, and Pinkas owned 1/2 of one of the GIV's. I'm looking for something more recent.

 

[OCR]

Flight Options has expressed an interest in expanding their aircraft management business, and if they can ultimately acquire or partner with JetDirect, that would put them on the map quickly. Your on the right track here, and I do believe we will see this unfold in the near future.

 

[OCR]

I was just informed by several JetDirect employees that the company is shutting down tomorrow. They confirmed that it is not just a planned bankruptcy to prepare for the new owner, but that they are being told tomorrow is their last day, they will not be paid for any further wages or expenses, and no mention of being offered any jobs by the new company.

Does anyone else know what's going on?

 

[54fighting]

As of this morning, the website is no longer up and running. Just has a number to book a charter and a number for HQ.

 

[charter dog]

I received the mass e-mail notification of termination on 4/17. That's pretty much what we've come to expect from this "organization", so no big surprise there. At least I can now file for UI. I'm only out 2 weeks pay, my vacation pay and a few hundred in unreimbursed expenses incurred months ago when the credit cards got shut off.

Other crewmembers continued to front expenses long after I and many others put the company on a "cash in advance" basis. Some for tens of thousands. I'm sure they thought they were doing the right thing, but this is the thanks they get for placing any trust in JD.

Now that JD has effectively ceased to exist as a business entity, former employees and other unsecured creditors will be left with no recourse to recover monies owed them. This debacle will have repercussions for some time to come. Personal bankruptcies are imminent for a few individuals who extended significant credit, not to mention the effect upon various vendors who failed to cut them off early. Trust misplaced.

It now appears that I am very fortunate to have gotten my start working for crummy bottom-feeders. Thanks to that early experience, I never trusted these folks any further than I could throw the crooked creeps. I'm still out of a job and a month and a half's pay, but probably feel much less betrayed than many of the poor Kool-Aide drinkers who believed. In the words of a senior pilot in VNY, "if this is your first go-around in the charter/management biz, welcome to business aviation and good luck in you future endeavors!"

Indeed.

Best,

 

[rondo]

Charter Dog,

Sad to say this is just the tip of the iceberg. 2009 has a lot more punishment to bring.

Good luck man.