Hi
How long/how much do you have to be in the red before the bank takes your airlines assets.
Thanks
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.
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.
I guess I have to ask how an airline can be (worth) -2 billion and falling in Jet Age and still be in business?
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!
Quote from: Ilyushin on February 28, 2011, 07:28:54 AM
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
Quote from: wapp11 on February 28, 2011, 03:44:15 PMYeah 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
Quote from: TK1244 on February 28, 2011, 06:37:04 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).
Quote from: Ilyushin on February 28, 2011, 07:12:42 PMHey, I'm demoted to 'it' instead of 'he'? ;D
(>_<') Corrected ;D
Quote from: TK1244 on February 28, 2011, 06:37:04 PM
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.
Quote from: Ilyushin on February 28, 2011, 07:28:54 AM
I guess you're talking about Legion Air...
THEY WENT BANKRUPT! FINALLY! LOL
Quote from: wapp11 on March 01, 2011, 05:43:44 AM
THEY WENT BANKRUPT! FINALLY! LOL
lol, he is back :laugh: