another Ch. 11 EOS

[gmccrj7]

looks like another one bites the dust... my best to all working there..
http://ca.news.finance.yahoo.com/s/2...hapter-11.html

 

[spinproof]

...and the beat goes on... I thought after Maxjets demise the EOS business plan would survive,apparently not..

 

[bravodude]

makes you wonder were Frontier is going to get the financing needed to exit BK.

 

[Full of LUV]

Didn't Kit Darby just start there?

looks like another one bites the dust... my best to all working there..
[URL="http://ca.news.finance.yahoo.com/s/2...hapter-11.html"]http://ca.news.finance.yahoo.com/s/2...hapter-11.html[/URL]

Hope he didn't buy a new Captain house in NY.......

 

[gmccrj7]

Hope he didn't buy a new Captain house in NY.......

what makes you think I bought a house in NY? I just read the newspapers.... do you?

 

[PeanuckleCRJ]

what makes you think I bought a house in NY? I just read the newspapers.... do you?

read the subject of his post. It's easy to miss.

 

[Lear70]

Somehow, the Ch. 11 looks like it is a swan song for Eos, unfortunately.

Completely ceasing operations on the 27th, laying off almost all employees, and basically saying that it's over... not much hope in that press release.

Good luck to everyone there; was really hoping you guys would make it - sounded like the perfect plan.

 

[zonker]

Unfortunate.

They had a great product.

Until energy costs come back to reality there are going to be more casualties.

A wise man once told me that the US has considerable capital invested in aviation and the government won't let it die. But it's difficult to imagine this industry in a rapidly accelerating fuel cost environment.

 

[spitfire1500]

...and the beat goes on... I thought after Maxjets demise the EOS business plan would survive,apparently not..

49 seats on a 757 and survive.....

 

[Lear70]

49 seats at about $1,500 a piece instead of 158 at $500.

$73,500 ticket sales for 49 full seats versus Legacy $79,000 ticket sales for 158 full seats.

Without the Legacy infrastructure to pay not to mention paying for all those RJs losing money.

The business plan was sound, if you could keep the airplanes over 80% full, maintenance costs weren't a problem, and gas didn't spike from $2.50 to $4.00 a gallon in 18 months.

Unfortunately, their marketing wasn't reaching their target audience (business travelers are a difficult nut to crack), maintenance costs were eating their lunch, and the fuel prices just put the nails in the coffin.