Pacific Jet Van Nuys In Bankruptcy

[labbats]

New CP, New investers. Looking for any current info please, thanks.

 

[Ace-of-the-Base]

New CP, New investers. Looking for any current info please, thanks.

Not me, buddy. Last time I said anything about this company I got banned!

Sometimes the world just works things out...

Ace

 

[AZ Typed]

Fella at our company came from Pacific Jet about 5 months ago. Said he left because is was only a matter of time before they either killed someone, or went bankrupt. Glad to see the latter seems to be occuring first. He had nothing good to say - and he left their for less pay and less time off, from what I understood.

AZT

 

[Dangerkitty]

What does Pacific Jet fly? I think my sim partner for Lear 60 Training was going to go there.

 

[n5374f]

I thought Tim Piero owns Pacific Jet, and shawn is their marketing guy also wasn't the chief pilot a female where did she go ???

 

[pa56pa]

"Not me, buddy. Last time I said anything about this company I got banned!

Sometimes the world just works things out..."

Not me either... but I'll speak my voice...

They are declaring bancruptcy... best time to do it anyways before the October deadline for all bancruptcies.. The stupid thing about this whole thing is.... Tim Prero started another company called JetFirst, Inc. Will he do a better job or will he run it to the ground like he did Pacific Jet? THAT is the question...

and as for the bi_tch that ran their Marketing dept... Carrie, spelled "c" like k_nt, all I can say is.. "What comes around, goes around.... "

 

[kilroy]

$50,000 deposit will allow you to get a bid package. Then you can go for there. I know of 2 companies currently getting bid packages.

Seems to me that Pacific Jet is a touchy subject in here. Whats the deal with that are the moderators personally linked to this company ??

 

[pa56pa]

bid packages? explain...

 

[AA717driver]

All I know is that I ran into a PJ crew at Milan Linate. The Capt. seemed like a good guy and the FA was smokin' hot. They were on a GIII.

He was happy as a pig in slop over making captain--pay bump up to $85k . Try living on that in VNY.

For his $85k he got the privilige of working 28 days a month...TC

 

[kilroy]

Basically the 50'000 bucks is to weed out the ones that aren't really serious. The package will include all that is avaliable (ie:aircraft.client lists,office furniture etc.) for purchase and under what conditions or stipulations.

bid packages? explain...

 

[pa56pa]

50,000 bid pkgs

correct me if I'm wrong... but is one of the companies, JetFirst??? I can see them purchasing their own assets from a company run under someone else's name...

 

[HMR]

I'm surprised this thread hasn't been deleted and all of you put in the penalty box.

I imagine the owners will just set up shop under a new name and start all over again. I'm trying to remember... were the PJ owners the same guys who ran JetWest @ KVNY?

AA717driver- I know two of those "smokin' hot" FA's. They both quit ASAP. They've got stories that'll make your hair stand up.

 

[TransMach]

Pa56pa,


Yes. It's very common in bankruptcy, liquidation proceedings.

There are two basic types of bankruptcy. First is "reorganization" which is where United Airlines is. In reorganization, the debtor presents a plan to reorganize the company's operations, assets and business plan and return to profitability. During reorganization the court appointed trustee determines how much the debtor can repay to his creditors.

Second is "Liquidation". In liquidation the court liquidates the debtor's assets and then distributes the proceeds to the creditors. Everyting, every asset the debtor holds (rules are different for personal bankruptcy vs corporate) are sold through the court. Anyone, including the debtor, can bid on and purchase the assets of the debtor. Although when the debtor purchases an asset owned by the debtor it is usually done blind through another entity.

No suprise in Pacific Jet's case, however.

TransMach

 

[LAZYB]

TP needs to be flushed.

 

[English]

Basically the 50'000 bucks is to weed out the ones that aren't really serious. The package will include all that is avaliable (ie:aircraft.client lists,office furniture etc.) for purchase and under what conditions or stipulations.

You really think there are any clients left?

Even if there were, with that 30 days revocation clause, it's a joke.