Great Lakes gets yet another, but shorter, extension

[FloridaLarry]

Great Lakes has signed the First Amendment to the Fifth Amendment and Third Forbearance with their lenders. This one gives them until November 11th to come up with an agreement with a financing source acceptable to their lenders and one which passes internal credit approval.

They've also thrown out the requirement to repay by December First.

Source: SEC filings

Either they're close with someone, or they're spitting into the wind. Time, but not much of it, will tell.

 

[gotWXdagain]

Someone should come in and buy that operation for pennies on the dollar, sell off all the 1900s, and use whatever is left over to buy a few Pilatipi.

 

[KSCessnaDriver]

Someone should come in and buy that operation for pennies on the dollar, sell off all the 1900s, and use whatever is left over to buy a few Pilatipi.

You mean buy 208s. I think Seaport has already proven that the PC-12 is a terrible airplane for EAS flying.

 

[gotWXdagain]

You mean buy 208s. I think Seaport has already proven that the PC-12 is a terrible airplane for EAS flying.

Mountains.

 

[KSCessnaDriver]

Mountains.

So? Stuff a bottle in there and some masks. Problem solved.

 

[Burrito]

(sigh)....

Song_that_never_ends.mp3.....

Maybe the 1900s can find some love shipping my pets!

 

[Inverted]

Those planes are going to Alaska sooner or later. Stop fighting it GLA.

 

[EIR]

So? Stuff a bottle in there and some masks. Problem solved.

I have a feeling pax won't be too fond of huffing an O2 mask for 2hr flights, hell, pilots for that matter.

 

[mshunter]

Those planes are going to Alaska sooner or later. Stop fighting it GLA.

I bet some cargo operators will be hot in pursuit for them too.

 

[HVYMETALDRVR]

According to a reliable source, GLA bid almost a quarter to what another 121 operator bid to do EAS flying out of Nebraska and the powers that be still chose to go with the more expensive operator.

Tells you a lot.

 

[Burrito]

According to a reliable source, GLA bid almost a quarter to what another 121 operator bid to do EAS flying out of Nebraska and the powers that be still chose to go with the more expensive operator.

Tells you a lot.

Kinda raises the question of how they've handled maintenance bills on those planes.

 

[z987k]

I bet some cargo operators will be hot in pursuit for them too.

Probably not. Cargo operators don't really like the D model much. They cost a lot more than the C model, and don't carry anything more really. They also use more fuel.

 

[mshunter]

Probably not. Cargo operators don't really like the D model much. They cost a lot more than the C model, and don't carry anything more really. They also use more fuel.

Problem is, there isn't many C models out there for sale, and these things will likely be sold "fire sale" style. If the market is all of the sudden flooded with D models, expect the price to fall accordingly.

 

[hook_dupin]

According to a reliable source, GLA bid almost a quarter to what another 121 operator bid to do EAS flying out of Nebraska and the powers that be still chose to go with the more expensive operator.

Tells you a lot.

In the wonderful world of federal contracting, much of a firm's ability to qualify for a contract is based on previous performance. GLA's bid may well have been tossed prior to making the source selection.

 

[FloridaLarry]

You mean buy 208s. I think Seaport has already proven that the PC-12 is a terrible airplane for EAS flying.

208s have proven themselves for some routes, but not all. Hot & high isn't their forte.

All Seaport proved was that they could not be successful with PC-12s. Perhaps the 208 thinking didn't transfer. Didn't help when a pair of their pilots did a gear-up landing at Salina KS. The PC-12 went back to the lessor pretty quick!

 

[bkey79]

Any one currently flying with GLA???

All the ones that were (including me), were smart enough (or broke enough) to realize the error of their ways and bailed. There is a very small spectrum of people that I would actually advise to give GLA a shot. Maybe you would be one of those people, but probably not...

 

[CoffeeIcePapers]

Great Lakes, Cockroaches, Mesa.

 

[gne in prog]

Amending ammendments and a third forbearance, I'm out.

 

[Richman]

UBs and UCs were fun hotrods. They flew exactly the way my Bonanza flies....weird for such a large weight difference.

Brake de-ice anyone?

Richman