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Skyway / ACA's old 328Jets

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Violated again?!?
Oct 1, 2003
Now that DAL filed any word/rumor if the Do-328JETS they have will get turned back to the lease holders?

Any good rumors about Skyway and those near derilect jets?
Mesa holds the leases I believe on the 328 jets now.

I think Pornstien assumed the leases as part of the deal to begin operating as Delta connection.

I'm assuming he's trying to find somewhere to offload them, as he has no plans on operating them.
Mesa never had the leases. They offered to pay for them so they could get that EMB Freedom flying out of MCO. Kinda like AirWisc. and U, but to a lesser extent. Now that Delta has filed, those aircraft are now back to the leaseholders/owners. Since nobody else wants these airplanes, they have become worthless as far as value is concerned. Worthless is about the price Midwest is willing to pay for them. I wouldn't be suprised if we got a few, they do want to replace the Beech eventually, this could be a great time to start.

Are you sure about that? I was under the impression that ACA/IDE were free and clear from all FRJ leases per the MESA/Delta Connection agreement. On a previous multi-million dollar quarterly loss statement filed to the SEC by IDE, I distinctly remember seeing the final remaining D-328 being made.

Could be wrong though. Who knows.
Club- You're kinda right. IDE did become free and clear, and then the A/C transferred to Delta. The MESA deal is this:

1. Move ERJ flying from USAir to Delta.
2. Pay Delta the FULL leases for the 30 parked DOJets, but not ASSUME the leases. This was the sweet part of the deal for Delta. Mesa did this because they didn't want to be at the dance and get stuck with all of the fat chicks. Meaning they didn't want to eat 30 or so ERJ's with no flying. They figured they would pay the leases until Delta filed. And since they actually haven't even started flying for Delta, I wonder if they've even paid a dime. Mesa never wanted these airplanes because they were worried they would have to park the ERJ's. They were willing to pay the leases to secure the ERJ flying. Kind of a dorked up deal.

In the meantime, I'm sure we were trying to get some of those airplanes. But since to full price of the lease was being paid by someone (around 70k/month per plane) they weren't interested in what we were willing to pay. Now nobody will be paying anything, my guess is they should have listened.
Hey Propsync whats happenin? Havent talked to you in a while.We gotta go to The Landmark one of these days! Sos here,nothing new.Ill give you a call next time im in town.

Propsync is correct about the Delta/Mesa deal regarding the 30 DoJets. Prior to Delta's BK, Mesa was paying Delta for the leases (approx 66k/month/plane=$1.98M/month) and, in turn, Delta was sending that money to Wachovia Bank (lessors).

Now that Delta has petitioned the Court to void the leases and return the planes, Wachovia will be on the losing end. The only chance Wachovia has on making a smaller return on their investment would be to offer the planes to either Skyway or Hainan Airlines in China. Skyway is only paying approximately $28k/month/plane for 356SK-360SK (we already own 351SK-355SK) and I doubt the company would pay above current rate for any additional planes. I have no clue Hainan's interest in those planes parked in MYR.

As for Skyway obtaining additional planes, I suspect it's an idea that's being discussed by the management team. Whether or not we (or Midwest for that matter) decide to enter an agreement with Wachovia remains an unknown at this time. Skyway has made it clear we want more 328's, mainly to replace the Beech and potentially expand MCI.

It'll be an interesting ride over the next six months for all involved.



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