The Latest on Primaris

[CommanderHoek]

Read that they just got some more money and will be expanding big time? Not that that is a good thing but just curious. Thanks.

 

[propsarebest]

any news on their 787 order?

 

[Motorradfahrer]

any news on their 787 order?

Boeing customer cancels order for 787s
By JAMES WALLACE
P-I AEROSPACE REPORTER
(Editor's Note: This story has been altered. Primaris is the first U.S. airline to announce plans to buy the new Boeing 787 super-efficient jet; All Nippon Airways ordered 787s before Primaris. The headline on the original version of this story was incorrect.)
It was one of those airplane orders that Boeing and Airbus sometimes receive that look a little shaky from the start.
But they look good on paper.
In October 2004, an upstart U.S. airline based in Las Vegas and calling itself Primaris announced its intentions to order 20 of The Boeing Co.'s new 7E7 jetliners -- the name of the plane at the time.
Primaris, the first U.S. airline to commit to the plane, wanted a fleet configured for only business class.
But the order never became firm, and Primaris has never taken off as an airline, although it does operate one commercial jetliner. Wednesday, Boeing confirmed that it had reached an agreement with the backers of Primaris to cancel its commitment for what is now the 787.
Yvonne Leach, a spokeswoman for the 787 program, said the company and Primaris agreed that "it was the right time" to cancel the order. Boeing has 360 firm orders for the 787 Dreamliner plus an additional 43 commitments, without Primaris.
Mark Morris, president and founder of Primaris, said Wednesday in a telephone interview that he still loves the 787 and hopes to eventually get the plane into his fleet by leasing them.
"We felt it was just best to start from scratch," he said.
At the time Primaris announced that it would order the 787s, it also said it would order 20 737-800s. That commitment has also been canceled, Morris said. It also had options -- now canceled -- to buy 40 more Boeing planes.
He said the airline is "getting close" to raising the investment money it needs to go forward with a large fleet of leased airplanes.
"We need to get the final dollars in the bank and then go back to the negotiating table," he said.
Primaris paid Boeing a deposit to hold delivery positions starting in 2010 for the 787s. Primaris would have had to pay Boeing additional money to keep those delivery positions at a time when it needs cash, Morris said.
The airline will get back its deposit. Boeing, in turn, will now have those early delivery positions to help it sell more 787s. It could also give those Primaris spots to an existing customer.
The 787 is hot property these days, and airlines that want to order the plane can't get one until around 2011, even though the 787 is scheduled to enter service in May 2008. Boeing is looking at boosting production to get more planes to customers sooner.
Singapore Airlines recently announced its intentions to order 20 787s, but those planes would not be delivered until 2011 and later, even though the airline might want them sooner. Singapore Airlines is one of Boeing's most important customers.
Morris, former boss of DHL Air Group, said previously that the airline had hoped to start with $200 million in capital, about 40 percent of that from equity investors.
At one time, Primaris Airlines' only plane, a leased 757, was used to ferry the White House media corps. That jet now carries passengers between Miami and South America.
Primaris wants to become the Southwest Airlines for business travelers. The little-known airline was founded by a group of longtime airline-industry executives and politicians. It has an ambitious business plan to offer an all-business-class service between New York and other major cities.
Primaris already has obtained certification from both the Transportation Department and the Federal Aviation Administration.
"The funding is not yet in place," Morris acknowledged Wednesday. "But we hope to make an announcement soon."

 

[IronCityBlue]

If its one thing this industry needs and needs badly is additional capacity and more start ups. Rich people who like to play with airplanes for sport is what's needed to jumpstart an industry recovery. That and cabotage, but one small victory at a time.