Great Lakes Aviation appears to have escaped a brush with certain bankruptcy thanks to a recently signed agreement with Raytheon Aircraft that gives the Wichita-based manufacturer a 36-percent stake in the long-foundering airline.
Economy of the United States
Federal bankruptcy court judge Stephen Mitchell has approved US Airways’ plan to enter into a new operating agreement with Indianapolis-based Republic Airways that calls for the introduction of another 32 regional jets into the US Airways Express system.
“They’ve forgotten us,” said Victor Guzman, owner and president of GZM Aircraft Interiors, a small independent completion and refurb shop based at Executive Airport in Fort Lauderdale, Fla. “They,” he explained, are a growing number of vendors who typically provide cabin interior components to independent (non-OEM) completion and refurb centers such as his.
“When you’re on ATA, you’re on vacation,” used to be the airline’s marketing slogan. But the 10th largest airline in the U.S., American Trans Air (ATA), has shed its vacation-only image to attract more business passengers by cutting Part 121 charter service, expanding its scheduled service and upgrading to the newest fleet in the industry.
Aviation Technology Group (ATG) of Englewood, Colo., laid off 40 of its 50 employees on December 17 and announced a day later that it has halted development of its two-seat Javelin very light twinjet, citing lack of funding.
Who in your company has access to the corporate aircraft? Is it just a handful of top executives, or can anyone with a need for travel schedule a trip? Does your department have a policy for selecting between competing schedules, or does the highest-ranking executive get the aircraft regardless of other considerations?
Mesa Air Group has cut salaries among its senior management by 23 percent; the company will credit the proceeds to US Airways in support of the major airline’s restructuring efforts. Mesa has also asked its US Airways Express employees to voluntarily agree to defer up to 23 percent of their salaries. US Airways has agreed to repay all the deferrals upon its emergence from bankruptcy protection.
On Friday, NetJets pilots overwhelmingly supported a major amendment and extension to their collective-bargaining agreement between NetJets Aviation and Teamsters Local 1108, the union representing the fractional provider’s pilot group. The NetJets pilots approved the interest-based bargaining (IBB) amendment, with 75.7 percent of eligible members voting in favor of the measure; voter participation reached a historic 95.8 percent.
Showing off the company’s latest electronic database delivery capability, Jeppesen last month marked a noteworthy milestone by sending an entire worldwide JeppView chart update to an aircraft using an onboard wireless Internet connection.
US Airways plans to start taking deliveries of Embraer jets again this November under a new agreement to convert its remaining positions on 57 Embraer 170s to 99-seat Embraer 190s, 23 of which remain subject to reconfirmation by the airline. Still subject to bankruptcy court approval, the deal includes options on another 50 airplanes from the Embraer 170/190 line.