Sun Country Tells Workers It May Shut Down Dec. 1

[Northern Lights]

Petters Affidavit

http://minnesota.publicradio.org/features/2008/09/26_petters_warrant/Petters.PDF

Here is a copy of the affidavit. Interesting reading if you have the time.

At least Sun Country CEO is working without pay

 

[ultrarunner]

It is interesting. The cooperating witness saw the writing on the wall, and smartly came forward.

Without a doubt, the FBI would not have figured out this scheme for quite a long time had this person not gone to the FBI.

Given how stupid these greedy bastards are, this witness will likely live long enough to testify.

However, if the investigation finds that it goes deep into the mob, this person better be deep underground by now....

good stuff....

 

[Broke in CVG]

This USE TO BE Petter's house in FL.

http://virtualglobetrotting.com/map/47792/view/?service=1

 

[dashtrash]

The LAST good jumpseat in the industry!

 

[macdu]

Just curious, whats the latest? As of today, there is a month left before the threatened shut down date.

 

[1031Guy]

Just to clarify, they never "threatened" to shut down. For legality reasons based on the rapid events from the Petters fallout, they had to inform the employees per the Warren Act(?) that there was a possibility that the company would not survive based on recent events. Actually, filing for bk and not being at the mercy of a receivership was the best move so far. I heard a number of the objectives they needed to accomplish to make it through the year have been done. The 50% mandatory paycut has been reduced to 30% and they even paid out accrued vacation to the furloughed pilots! Look for more positive news during the next month or so...

 

[Peardc10]

Latest News on SCA

We are still here! Sounds like investors have been coming in and looking at the organization, some old and some new. Possible influx of money soon, at least I've heard through the gossip trail.

Most of our venders have helped us out with restructuring of payments and lease costs. Our winter scheduled looks really good and as long as oil stays below $105 we are positioned to make money in 2009.....we hope!

2009 will be very interesting with SWA coming to town, Alaska Airlines are flying two trips to SEA out of MSP, and the last I've heard is that Aero Mexico is coming to MSP this winter. Competition is heating up in MSP.

Mr. Petters is still behind bars awaiting trial and probably wont see the light of day again....my opionion of course.


More news should be coming soon............

 

[SpauldingSmails]

Any green planes this winter?

 

[fredthead]

Any green planes this winter?

one green tail

 

[fredthead]

We're still here.