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Author Topic: Bankrupt  (Read 845 times)

murloc787

  • Former member
Bankrupt
« on: February 27, 2011, 05:28:28 AM »
Hi

How long/how much do you have to be in the red before the bank takes your airlines assets.

Thanks

Sigma

  • Former member
Re: Bankrupt
« Reply #1 on: February 27, 2011, 07:29:38 AM »
7 Real-Life Days, if I recall correctly.

But any profitable week, even if they're still in the red overall, resets the clock.

So what can often happen is they'll sell a plane, get a tax refund, something happens that gets them a profitable week.  Then it takes 7 more days.  It's not uncommon for someone to go VERY deep into the red before finally succumbing to the bank.

Offline Sami

  • Administrator
  • Members
  • Posts: 16346
    • AirwaySim - Are you the next Richard Branson?
Re: Bankrupt
« Reply #2 on: February 27, 2011, 10:16:47 AM »
A bit incorrect, since if your cash at hand is let's say -40mil, you cannot get out of the bankruptcy reset by selling a few planes if you still remain in negative. Though if you sell enough planes to bring the cash balance to positive it will reset.

wapp11

  • Former member
Re: Bankrupt
« Reply #3 on: February 28, 2011, 07:24:37 AM »
I guess I have to ask how an airline can be (worth) -2 billion and falling in Jet Age and still be in business?

Ilyushin

  • Former member
Re: Bankrupt
« Reply #4 on: February 28, 2011, 07:28:54 AM »
I guess you're talking about Legion Air...

I guess he took out big loans (decreasing his value) and leasing lots of airplanes, scheduling them but not scheduling maintenance (or he set C/D check to manual) which caused many aircraft to be grounded (see transported pax graph dropping).

Ilyushin

edit: Ah he is your competitor I see. Nice Tu-134A aircraft, sir!

wapp11

  • Former member
Re: Bankrupt
« Reply #5 on: February 28, 2011, 03:44:15 PM »

edit: Ah he is your competitor I see. Nice Tu-134A aircraft, sir!

Yeah he used to be a good competitor but fell apart recently... I love those Tu-134As, nice and cheap and had the launch customer discount, but it is sad to say they are currently being replaced with BA-111s

Offline TK airlines

  • Members
  • Posts: 1288
Re: Bankrupt
« Reply #6 on: February 28, 2011, 06:37:04 PM »
Yeah he used to be a good competitor but fell apart recently... I love those Tu-134As, nice and cheap and had the launch customer discount, but it is sad to say they are currently being replaced with BA-111s
How did they operate, apart from the higher fuel burn per plane compared with direct competitor aircraft from western manufacturers?

btw, Ilyushin replaced his Tu-124s with BAC1-11, :( so you won't be the first to retire a Tupolev jetliner
« Last Edit: February 28, 2011, 07:26:47 PM by TK1244 »
TK Regional

Ilyushin

  • Former member
Re: Bankrupt
« Reply #7 on: February 28, 2011, 07:12:42 PM »
How did they operate, apart from the higher fuel burn per plane compared with direct competitor aircraft from western manufacturers?

btw, Ilyushin replaced its Tu-124s with BAC1-11, :( so you won't be the first to retire a Tupolev jetliner

I would like to know that as well!

Hey, I'm demoted to 'it' instead of 'he'? ;D
Yeah, 31 of those Tu-124s on the used aircraft market were mine... ;D
Lovely birds, but gas guzzlers (and I operated them with 42 (?) seats instead of 52).

Offline TK airlines

  • Members
  • Posts: 1288
Re: Bankrupt
« Reply #8 on: February 28, 2011, 07:27:21 PM »
Hey, I'm demoted to 'it' instead of 'he'? ;D
(>_<') Corrected ;D
TK Regional

wapp11

  • Former member
Re: Bankrupt
« Reply #9 on: March 01, 2011, 12:41:17 AM »
How did they operate, apart from the higher fuel burn per plane compared with direct competitor aircraft from western manufacturers?


I liked them, seemed like maintenance wasn't too high, and in Jet Age fuel prices aren't too high, so with the way cheeper purchase price assuming lease I think they were less to run.  I'm replacing them with BAC1-11s because new T-134s are no longer available, and I have a large fleet of the 1-11s already.

wapp11

  • Former member
Re: Bankrupt
« Reply #10 on: March 01, 2011, 05:43:44 AM »
I guess you're talking about Legion Air...


THEY WENT BANKRUPT! FINALLY! LOL

Offline TK airlines

  • Members
  • Posts: 1288
Re: Bankrupt
« Reply #11 on: March 03, 2011, 07:05:28 PM »
THEY WENT BANKRUPT! FINALLY! LOL
lol, he is back :laugh:
TK Regional

 

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