Polar/Atlas merger

Boris Badenov

Just running in to a burning house...
aaaaaand down the stretch they come...it's Teamsters by a nose!

Opinions? Polar742? Bueller?


All the responsibility none of the authority
OK, here's what I know and/or put together from stuff heard 'round the school house.

1) The IBT got voted in by 61% of votes cast. ~80% of the eligible voters cast ballots. :banghead: AOPA will get $140 from me yearly for the ATP legal plan henceforth.

2) There will be no certificate merger (as of today) the desire is to merge the pilot groups, setting up a "crew leasing" arrangement to the subsidiaries (Polar and Atlas)

3) Atlas will furlough some folks. Polar is not. There's more, but trust me, this is the end result of all the widgets and gears turning.

4) The 747-8s are still a go. Most of the financing on the 12 orders is complete. The jet is appearantly 20% more efficient than the 400. We're taking a delay due to the IAM strike in Everett. So as soon as the metal begins to get cut, and they can actually fly the 787, we will have a better date. Certain (not specified in any SEC filing or investor presentations) customers have options of upgrading their -400s to -8s.

4) They expect full year profit in '08 of about $60 mil They didn't include a final payment from DHL on the profit, and they bought (or financed) 2 400s. '09 is forecast to be about $130 mil with around 28 jets making money. The '09 forecast is based on all customers flying min hours.

5) Atlas is expecting to park 3 classics, amounting to a swagged 28 pilots. Reference #3 above.

6) Just bought a new sim that will be convertable between the 400 and -8

7) Contracts with British Airways, Lufthansa and Emirates have been renewed. I'm sure the certain customers allowed to upgrade to the -8 wouldn't be these three. :sarcasm:

8) An article was written about our company and stockprice. Appearantly because it is a small cap, it was dumped by everyone. This cat seems to think it is WAY underpriced, and the company is in good shape. He predicts $50/share by 2010. link: http://biz.yahoo.com/ts/081219/10454228.html?.v=1

That's all I got.