Probably another stupid question m but I can't seem to find an answer to this in the forum...
If I've bought a plane on, say 20% deposit and 80% on delivery, and I don't have the $$$ in the bank to pay for it on delivery what happens?
Normally, I'd be able to cover these 'shortfalls' with loans, but what if I can't log on for a day? Real life does, unfortunately, intercede sometimes..
Grixster
Your cash goes into red. Checks can't be done, interest rates can't be paid and if you don't make enough money, your airline will BK. Especially if the missed checks cause an aircraft grounding and Corporate Image loss.
You should generally not BUY a plane if your funds are so tight that you probably can´t pay it.Better wait until your business somewhat settled.
Especially if you count into all additional costs that come with a new plane like staff,slot costs,maintenance,possible losses over longer period after opening new routes etc.etc....
You don´t necessarily have to be online the day it´s delivered, you can always take out a loan well before that date to be on the safe side.
Thanks guys.