Pinnacle Air Services

[cl604driver]

bummp

 

[JJET44]

the chief pilot went and got a LR-60 type and left 3 weeks later..i hope they made him sign a contract. what a waste of fu**ing money

He left two weeks ago
He was typed back in Mar/Apr. Numb Nuts so get your facts straight!!!!

P.S. If you don't like the way our managment is running things than just leave.
We don't need aholes slamming there own company
I'm shore you're buddies at JS might take you!!!

 

[starcheckdriver]

I have to agree. Leave JR and the way it is run alone. We have a top notch company that actually cares about its pilots. It would make no sense for the Chief Pilot NOT to be typed on all the aircraft, or at least a majority of them. The CP did not know he was going to get hired at SWA prior to the type rating. He was a stand-up guy and not the type of guy to screw JR by doing something like that.

 

[Downwind]

PCL fleet now stands at lucky 13.

3- LR31
2- LR45
3- LR60
1- LR35
1- LR55
2- DA50
1- C650

JR rumor is "any day now". Same for the last two months. I think everybody around here has lost interest. If it happens it happens.

DW

 

[JJET44]

PCL fleet now stands at lucky 13.

3- LR31
2- LR45
3- LR60
1- LR35
1- LR55
2- DA50
1- C650

JR rumor is "any day now". Same for the last two months. I think everybody around here has lost interest. If it happens it happens.

DW

Is PCL buying these airplanes or are they picking up managment contracts? Seven different fleet types would leave me to believe that some of their planes are managed.

 

[Downwind]

We own all of our airplanes.

All but two are in our paint scheme. One 60 is still in Flex colors and one 50 came with beautiful new paint.

 

[badlander45]

Are they in any need of lr-45 typed guys?

 

[badlander45]

Are they in any need of lr-45 typed guys?

 

[Downwind]

Last I heard, yes.

 

[JJET44]

I'm hearing crickets!
Anything new on the PCL front?
All of a sudden all but one of our managed lr-60's are ether sold or in pre-buy.
I know that someone mentioned that PCL doesn't want any of our managed airplanes. ?????
The only problem with that theory is that still leaves us with (1) Lr-60, (1) Lr-31, (1) C-750, and a G-III all managed, not to mention the G-IV that is on it's way.
Any leaked info from anyone?

 

[CFI4LIFE]

I'm getting bored with all these rumors... if there is a deal in the works then git-r-done, and lets get on to new and improved rumors!

 

[starcheckdriver]

All of a sudden all but one of our managed lr-60's are ether sold or in pre-buy.
I know that someone mentioned that PCL doesn't want any of our managed airplanes. ?????

These planes were sold or will be sold because they are all owned by the same person. That person didn't want all those planes from the get-go and have been on the market for some time. I don't think those sales have anything to do with the rumors of a buyout.

As far as the buyout is concerned, I heard from a credible source that though the buyout may appear to be dead in the water, it most certainly is not. That's all I know!

 

[JJET44]

These planes were sold or will be sold because they are all owned by the same person. That person didn't want all those planes from the get-go and have been on the market for some time. I don't think those sales have anything to do with the rumors of a buyout.

Yeah I know that. My airplane went to prebuy today. Why all of a sudden, after the planes have been up for sale for over a year, did they all go at one time? I also know that the seller lower the prices to sell them quick but why all of a sudden?

 

[JJET44]

Rumor mill churning at high speed today!!
Heard that we may hear something this evening.

If not, I'll feel stupid!

 

[JJET44]

And Here It Is

Rumor mill churning at high speed today!!
Heard that we may hear something this evening.

AirNet Systems, Inc. Announces Definitive Agreement​

to Sell Assets of Jetride, Inc. ​

CONTACT:
Gary Qualmann
AirNet Systems, Inc.
(614) 409-4832
Bob Lentz
InvestQuest, Inc.
(614) 876-1900

COLUMBUS, Ohio -- July 26, 2006 -- AirNet Systems, Inc. (AMEX: ANS) today announced that it has entered into a definitive agreement with Pinnacle Air, LLC (“Pinnacle”) to sell its passenger charter business, including the aircraft and substantially all of the aircraft-related assets of Jetride, Inc. (“Jetride”) for $41 million in cash. The transaction is subject to standard closing contingencies and the receipt of requisite assurances from the FAA with respect to the proposed ownership change, and is expected to close during the third quarter.
As a result of the transaction, AirNet expects to repay approximately $29 million of debt secured by the Jetride aircraft. Following repayment of Jetride’s debt and payment of applicable taxes and expenses related to the transaction, AirNet plans to use the remaining sale proceeds to further reduce the debt outstanding under its revolving credit facility.
Joel Biggerstaff, Chairman of the Board, Chief Executive Officer and President of AirNet Systems, Inc. stated, “The Board of Directors accepted an offer for Jetride from a company actively engaged in the passenger charter segment of the aviation market with a business plan that we believe is complementary to the one we have been implementing. Pinnacle will offer employment to all of the employees of Jetride, and AirNet will provide certain maintenance and other services to Pinnacle following completion of the transaction. For AirNet, we believe this sale immediately creates a much stronger balance sheet with significantly less debt, and affords our company the ability to focus on our core Delivery Services operations and flexibility to pursue other aviation services opportunities using our well-developed operating and service competencies.”
Bill Schwyhart, the managing partner of Pinnacle, commented, “We are excited to include the Jetride fleet and experienced personnel as part of our growing passenger charter business. This acquisition brings us a great team with which to continue to build our business, and we plan to continue to draw upon AirNet’s maintenance expertise to support our growth. This acquisition is very complementary to our business strategy and will enable us to continue expanding our national service footprint.”
Wynn Peterson, Senior Vice President of Jetride said “We believe the acquisition by Pinnacle provides Jetride and its employees with a promising future, and we anticipate significant growth in our combined charter businesses. Pinnacle shares the same commitment to customers that our Jetride team has built over the past several years. We look forward to the opportunity to build our future together with the Pinnacle team as the newest addition to their organization.”
AirNet Systems, Inc.
AirNet Systems, Inc. focuses the Company’s resources on providing value-added, time-critical aviation services to a diverse set of customers in the most service-intensive, cost-effective manner possible. AirNet operates an integrated national transportation network that provides expedited transportation services to banks and time-critical small package shippers nationwide. Jetride, Inc., a wholly-owned subsidiary, provides Passenger Charter services nationwide to individuals and businesses. The Company’s aircraft are located strategically throughout the United States . To find out more, visit AirNet's website at www.airnet.com.
Pinnacle Air, LLC
Pinnacle Air, LLC operates Pinnacle Air Executive Jet Charter and Pinnacle Air Services FBO (Fixed Base Operator). The Pinnacle Air fleet includes 9 Learjets, 2 Falcon 50s and 1 Citation VII and operates on a Federal Aviation Regulation Part 135 certificate, which was obtained in 2004. Primary aircraft operations are in Northwest Arkansas, Bridgeport, Connecticut and Las Vegas, Nevada. Pinnacle Air has received the prestigious Q-Star rating for safety, professionalism and performance.

 

[OLD DOG]

I'll drink to that.

 

[MNR]

The FAQ still dosent answer all my questions. I guess I will be making some phone calls tomorrow.

 

[starcheckdriver]

The FAQ still dosent answer all my questions. I guess I will be making some phone calls tomorrow.

If you are referring to the FAQ sent to JetRide pilots, I agree. But, in their defense, I think they did a great job being proactive and not waiting for us to bombard them after the fact. Things look good from what I see and it should be an exciting change for both companies.

 

[JJET44]

.

What do you Pinnacle guys wear for uniforms?

Black non-descript shoes, blue wool pants, white Van Husen aviator shirt (short and long sleeve), tie, epaulets, no wings, blue wool jacket for cooler temps w/ sleeve strips and wings, Peronne leather jacket for colder temps with epaulets and velcro patch. Optional sweaters. Pilots must match at all times.

OK

Just at the bar with a fellow pilot (on our days off) and talking about how much we hated wearing bars in the airlines.
My question, WOOL PAINTS? SERIOUSLY?
That must be hot in the summer not to mention, I can't wear wool, I break out. Are you sure it's wool and not something else?

Another thing. Who pays for uniforms

 

[MNR]

The current Jetride pants are Grey wool....little different than a sweater. I think I read somewhere in the thread that they pay for their own uniforms. We will see.

Everything sounds good on papar, the FAQ answered most stuff. Jetride mngt seems happy about this, they have been good to us since they came on and replaced the other crew flying the office. I will reserve final judgement however for after Aug 31st. I would also like to know more about the benifits and salery...all they said is I would be getting an "offer". .... just lots of questions to be answered at this point that I am sure will all come in time.

 

[Rokit88]

why would you wear a shirt with epilauts but not wear bars? That looks stupid. I personally like the white dress shirt and grey pants.


rokit88

 

[TennLear60]

Our pants are not wool. Thay are plaid polyester. We wear those groovy oversized collar shirts with the pastel colors. You choice in color depending on your mood. Oh, and really wide ties and super cool platform boots. I am currently working on my afro. I have some cool gold chains to help accentuate my chest hair.

For real though. Glad to have you guys aboard. Lot's of changes to come. I haven't heard if there will be a change in uniform for you or not. Our uniform pants are actually a cotton polyester blend. Cool in the summer, but not warm in the summer. I like to wear the barn door long johns. Your choice there. Basic pilot shirt with striped epaulets. Pants and tie are navy blue. No wings or name tags are worn. Just an I.D. badge. We just got sweaters last week. They have holes for wings or name tags. I don't know if we are going to have anything to fill the holes though. Winter time is the leather jacket with velcro epaulets and badge.

Quick question for the 60 guys. What do the JetRide 60's have? Collins or UNS?

J

 

[Rokit88]

all of our 60s have collins boxes, but I've heard that were going to have to upgrade them soon.

 

[starcheckdriver]

I would also like to know more about the benifits and salery...all they said is I would be getting an "offer". .... just lots of questions to be answered at this point that I am sure will all come in time.

I was at the announcement meeting and therefore received the HR package already. It is very in depth and covers everything. The offer letter states your current salary, how much vacation you will get in 2006 from Pinnacle, and what you need to do to accept or decline the offer.

Summary of bennies:

1. Medical, dental, and vision for about $4 bi-weekly

2. Optional LT disability, ST disability, cancer coverage, heart coverage, additional life insurance coverage.

3. Pinnacle provides 100% paid life insurance equal to 1 year's salary (better than the $10,000 Airnet provided)

4. Health care is a PPO with 80/20 coverage, $500 deductible, $20 co-pay for primary care and a Rx card with $10 generic and $30 or so for brand name drugs

5. 401(k) with company matching of $0.50 on the $1.00 up to 3% of salary (same as Airnet, I think)

6. Direct deposit forms for pay beginning Sept. 8

The bennies look as good if not better than Airnet's. They are significantly cheaper too. As far as bennies go, it looks like JR guys are getting a better deal than what we currently have.

 

[starcheckdriver]

One thing that might change for JetRide is the per diem to come into line with PA's policy. I met a couple PA guys that said you get the government rate for lodging and meals and then just book your own hotels.

Our DO said yesterday that you guys get some kind of debit card for this money? Is that right? Or do you just put the hotel on your own credit card and get the government per diem rate reimbused to you later?

 

[75TH_RANGER]

we pay for the hotel and meals on our credit cards. then each friday we get a per diem check. the amount varies, depending on what city your in. low rate cities are $141, and high rate cities are $226

 

[starcheckdriver]

Do you also get a day pay rate for days your fly? Maybe $50, I heard?

 

[75TH_RANGER]

yeah $50 for days your on the road

 

[FL410guy]

Wish I could get my hands no a Penni Ops Manual.

 

[MNR]

Talked to the CP today. They said we won't notice any changes except benifits and where our check comes from at first.

I hope they don't change to the Pinnicle per diem policy. I think I even was in class with a guy from Pinnacle at one point who explained it to me. He was excited about it because he could make money if he got good rate on hotels. It seemed to me at the time that I have better things to do than shop for hotels around airports for a rate under my per diem. I am also not interested in carrying those kind of charges on my credit cards. I was never a fan of adding my per diem to what I made anyways. I am not interested in paying for my hotels out of my perdiem no matter how high it is. Its a good way to get screwed imho. Try to find a hotel on a Superbowl or Derby weekend.

There won't be any moving across cirtificates is what I was told. So even though the senority lists are the same the Pinnacle guys will not be able to bid the Jetride aircraft right away. It would involve new indoc etc. if they switched over. I am sure eventually they will merge us into one cirtificate but it will happen slowly is what I was told. Other old policys will change but slowly. Biggest change I see is the jump seat thing. We have one at our base that leaves every week hes off. Gonna be hard to commute.

You will see their ops manual long before you have to use it. Most of the stuff is probabily boilerplate anyways. Not sure if they are an eligable on demand operator and are able to use the 80% number etc. Not that it really matters because like I said from what I have been told we will be operating as seperate cirtificates for a while. The Pinnacle guys will notice more changes at first I think because they will be dispatched out of the Jetride office as of Sept 1st.