BendOverAgain?
No Staple, Equal Merger
- Joined
- Sep 9, 2003
- Posts
- 35
Bull..tyuwerty said:Lets not forget that Republik/CHQ derived no benefit whatsoever by having SA fly the Saabs. It did not help them improve their bottom line nor their marketability for the IPO in the least bit, did it?
But then again, we are getting ahead of ourselves aren't we.
Look at the real facts. CHQ was loosing money on the Saabs and stuck in a long term lease and that wouldn't look good for an IPO. SA sub-leased ALL the Saabs paying CHQ to cover their long term leases, flying approx. 14 and parking around 10 absorbing CHQ's debt on them (10 parked partly due to not enough flying for them and the rest was because CHQ only pencil whipped the books and did no real maintenance on any of them after they knew they were getting rid of them so several weren't even airworthy/safe or legal to fly!).
SA absorbed CHQ's garbage to make them look good for the IPO and has now turned the a/c around and is making money with them.
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