GLA and Rayteon payment

rockman2343@aol.com

rockman2343@aol.com

Well-Known Member
Has anyone on the inside heard any news about this payment due on June 30th? I was reading the quaterly report and it looks like they're even admitting that it doesn't look good.
 
Its a complicated situation... From what I understand GLA is seeking outside financing because Raytheon (GLA's chief share holder) wants its money. So basically we are just gonna shift the debt to banks and private investors. I wouldn't be too concerned as a new FO, but then again, who knows. From personal experience, many people thought GLA was going out of business many many times and yet, here we are...
 
Raytheon has said that they aren't going to extend the due date. That is a major problem. The way I read this, a Chapter 11 will not save those planes because they are a secured asset that has to be paid for or sent back. The amount due is in excess of 30 million. So Raytheon could walk in and repo the planes. I guess time will tell if they will do that. Maybe GLA has some other planes lined up to replace the ones they have now? The chances of them getting 30 million, to pay the planes off, from the investment community are slim to none at this time. It's not looking good here.

Joe
 
JOEFRIDAY2 said:
Raytheon has said that they aren't going to extend the due date. That is a major problem. The way I read this, a Chapter 11 will not save those planes because they are a secured asset that has to be paid for or sent back. The amount due is in excess of 30 million. So Raytheon could walk in and repo the planes. I guess time will tell if they will do that. Maybe GLA has some other planes lined up to replace the ones they have now? The chances of them getting 30 million, to pay the planes off, from the investment community are slim to none at this time. It's not looking good here.

Joe
Click to expand...

Raytheon has been aggressive on it's leases for a while, and it's not always because the plane will make more money somewhere else. Maybe it's an Onex thing, maybe it's just been tough times for that company and they are done doing favors. Raytheon/onex are strange birds to work for when they owe YOU money, can't imagine it's much fun on the other side of that equation.
 
jynxyjoe said:
Raytheon has been aggressive on it's leases for a while, and it's not always because the plane will make more money somewhere else. Maybe it's an Onex thing, maybe it's just been tough times for that company and they are done doing favors. Raytheon/onex are strange birds to work for when they owe YOU money, can't imagine it's much fun on the other side of that equation.
Click to expand...

My initial thought when I read/heard about this a couple months ago was that it had to be some sort of scare tactic because I'm not sure why they would want several beech 1900's back instead of flying and making money for Raytheon.
 
upup89 said:
My initial thought when I read/heard about this a couple months ago was that it had to be some sort of scare tactic because I'm not sure why they would want several beech 1900's back instead of flying and making money for Raytheon.
Click to expand...

Raytheon's business practices defy reason. See: Starship, Horizon, Premiere.
 
Jacob Wall said:
Can someone fill me in with what GLA is and what y'all are talking about?
Click to expand...

big_lebowski_007.jpg


Donny, you're out of your element!!
 
You must log in or register to reply here.
Back
Top