Great Lakes limps further

[gotWXdagain]

Welp, if there's pilots willing to fly it and passengers willing to pay for it, might as well invest in a small fleet of Pilatipii and get that ball rolling.

 

[KSCessnaDriver]

The 1900D's would have to come down in price a lot. That's why all the freight outfits run C's.

Which they will likely do when GLA floods the market

 

[NewYorkophile]

The number of fatals related to engine failures in a caravan or PC12 is so infinitesimally small that I doubt most people would be willing to pay the difference in ticket prices to add a second engine. Whether you could pay pilots enough to get them to fly for you is another question entirely.

It's not like OEI performance is going to save you anyways in some of those areas.

We've got 4 fans out there, and if we're heavy and down to 3, you're gonna get the same result as any single-engine airplane.

 

[jwp_145]

I don't think they'll get that far. I could see them ending up hauling boxes in the US, if a company was smart.

Companies like Yeti, Buddha, etc in Nepal buy all of the sub20-seat t-props they can get their hands on. Combine that with the fact that on average they run one into the side of a mountain each year, and yes the planes would get that far. Nothing else can serve places like Lukla, Phokara, and other airports up in the tribal areas in the north country.

 

[z987k]

It's not like OEI performance is going to save you anyways in some of those areas.

We've got 4 fans out there, and if we're heavy and down to 3, you're gonna get the same result as any single-engine airplane.

Ya it will. OEI in a be20 or ac695 will clear all of the terrain in the lower 48.

 

[NewYorkophile]

On departure with a V1 cut and a 500ft/nm climb gradient near max gross? That'd be impressive.

 

[z987k]

On departure with a V1 cut and a 500ft/nm climb gradient near max gross? That'd be impressive.

You should be able to climb out with your oei escape route. They both exceed part 25 standards.

 

[FloridaLarry]

Mirabile Dictu!

Great Lakes numbers are inching upwards in reported stats for May and June.

Load Factor up 7.1% in May, up 14.3% in June (2013 to 2014)

RASM up 36.8% for May, up 59.3% for June (2013-2014)

Load Factors (YTD) up 4.7% in May, up 14.8% in June.

These #s show impressive beginnings for a turnaround. But big gains on lousy base numbers are only a start.

They've hired Raymond James to advise mgmt (and presumably Board & lenders) about possible options.

Mr. Berra continues to be right: "It ain't over 'til it's over."

 

[Zondaracer]

After the nuclear apocalypse, all that will be left are cockroaches and Great Lakes

 

[hook_dupin]

There's also this:

"Great Lakes Aviation, Ltd. (the “Company”) has been informed by Frontier Airlines (“Frontier”) that as part of Frontier’s transformation to an ultra-low cost carrier, that their business model, and subsequent change to a new reservation platform, will no longer allow for interline agreements with any other carriers. As a result, effective October 1, 2014, the Company’s code share agreement with Frontier will be terminated."

They've hired Raymond James to advise mgmt (and presumably Board & lenders) about possible options.

They had to hire an IB.... it was in their forebearance agreement.



Actually, I'm thinking about buying GLUX because I think there will be a move to take the company private. They're certainly not going to get additional equity financing any time in the near future.

 

[ChasenSFO]

Yikes, that Frontier codeshare termination will be a big blow to them. Does United still code-share with them? I know UAX carriers fly some of the busier ZK routes from DEN.

After the nuclear apocalypse, all that will be left are cockroaches and Great Lakes

And Mesa, I would add.

 

[FloridaLarry]

Hook: thanks for catching the Frontier changes. Southwest and Spirit do ( or don't do) the same on both code share and interline, so no big surprise. Plus, F9's ownership used to own Spirit, and they brought the playbook with them

Frontier has accounted for 26% of GLA's biz. However, the number of markets where GLA is the only game in town means that people will still use the connections, but at higher fares.

There are not too many places Frontier flies from Denver that United doesn't also serve. This may drive more traffic to UAL, which already is responsible for 37% of GLA's biz ( both code-share and interline e-tix w/ UAL). Both #s from April SEC filing. 2nd Qtr due soon.

GLA also has eTicket interline agreements with American, Delta and US Airways, so this will help.

 

[SpiraMirabilis]

On departure with a V1 cut and a 500ft/nm climb gradient near max gross? That'd be impressive.

A 1900D can handle that. The thing is so overpowered anyway.

When flying the mighty Dash-8 on thew few airports where you couldn't meet the ft/nm SE climb gradient we were provided with a special departure. Places like Aspen or Vail, CO. Vail you had to do a 360' 15 degree bank turn and some other stuff.

 

[z987k]

A 1900D can handle that. The thing is so overpowered anyway.

When flying the mighty Dash-8 on thew few airports where you couldn't meet the ft/nm SE climb gradient we were provided with a special departure. Places like Aspen or Vail, CO. Vail you had to do a 360' 15 degree bank turn and some other stuff.

Fly a part 23 airplane. Don't have to worry about any of that.

 

[hook_dupin]

The GLUX 10-Q just came out for last quarter. Here's the highlights: they lost $1.6M in the quarter, they have $3.2M in cash, and they have $30M in debt due inside a year.

It's like watching a car crash in ultra slow motion....

 

[Murdoughnut]

The GLUX 10-Q just came out for last quarter. Here's the highlights: they lost $1.6M in the quarter, they have $3.2M in cash, and they have $30M in debt due inside a year.

It's like watching a car crash in ultra slow motion....

Jesus - good luck getting gas guys.

 

[jskibo]

Jesus - good luck getting gas guys.

Ok Pax, whip out your cards if you want to leave today. Each of you will be buying $300 in fuel

 

[Murdoughnut]

Ok Pax, whip out your cards if you want to leave today. Each of you will be buying $300 in fuel

A guy I used to work with up until recently was with Vanguard during their existence in a corporate position. There was one instance near the end where he road in with the crew on a charter and had to put $2k in fuel on his personal credit card for the plane to be released back to MCI.

 

[gotWXdagain]

How exactly does one amass 30 million in debt while having only 10% of that in cash lying around? What the heck were the creditors thinking?

 

[FloridaLarry]

The debt is primarily on the aircraft. Some is operating cash in a revolving note. All debt is secured by the planes.

Thanks for the update, Hook. We must be alternating days we check SEC/Edgar <G>.