VANGUARD Airlines Closing the Doors?

Ghetto Buck

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Is there any truth to the rumer the Vanguard might be ceasing operations?
my Inside sources say that yesterday they came within 3 hrs. of ceasing operations. Apparently they did not get their Federal Loan and the investers are NOT! going to put any more money into it.
The bright side is that their are investers looking into possible purchaseing the assets should the end come.....Seems their business plan is good but their Balance sheet is topheavy with alot of debt and the creditors are as hungry as sharks!

More soon!
 

fly26

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If it is true that they did not get the federal loan, please quote a source. I can not find anything that confirms that information.
 

Capt. Over

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I was offered the job, took the position, went through training, flew the line briefly, and was then furloughed immediately there after....and not due to 9/11 either. Crew planners, as a rule, don't know how to count. As the saying goes...hire until we fire.

So a job offer certainly doesn't prove much as far as stability goes in my book.

Good luck
 

fly26

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Doesn't sound like the operation is coming to a halt at Vanguard.

May 2, 2002
Wichita Business Journal

Vanguard begins new flights

Vanguard Airlines Inc. has begun its third daily flight between Kansas City and Los Angeles. It also is adding a second daily flight between Kansas City and Las Vegas.

On June 3, it will introduce nonstop service to Seattle and additional service to Las Vegas, New York City and Orlando, Fla. Vanguard Airlines, based in Kansas City has a fleet of six Boeing 737s and eight Boeing MD-80-series aircraft.
 

EAP

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I'm hoping for smooth skies for you guys! Seriously, I don't want to see any more of this crap happening to fellow pilots. Enough is enough - here's to the recovering economy!!!
 

BSkin

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Interviewed last week, sim next week, maybe! Have a friend online w/ Vanguard and news is not good. Said he hoped I hadn't burnt the bridge with a possible corporate job I may have because he doesn't know if he's got a job tomorrow. Hopefully just a knee-jerk reaction to the fact that the head of the board of the federal loan 'dish-out' committee resigned yesterday, which would explain why the CEO was in DC today 'begging' for money. However, AAL is establishing a maintenance facility in MCI and offering twice the pay to the Vanguard folks. Is this a problem? Yes, I think so, especially when the business planner tells them to do what they need for their futures. Are they easily replaced? Do they plan on replacing them? Bottom line is their plan is working, but it may be too little too late. I saw first hand how their loads are and they are impressive. But how long can you survive without ever turning a profit? The first quarter of this year, from all outlooks, will be their first profit; again, maybe too little too late. Hopefully not for all the pilots, etc., working for them, and hopefully not for those of us that are close.
 

azpilot

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Vanguard has been losing money forever and has always been rocky. For some reason some folks with money have continued to pour money into them. You will always be taking a risk if you fly for an airline like this. However, the reward can be good to. A friend flew for them for 15 months. He got his type rating after 11 or 12 and then got hired with Southwest. He also told me fun stories about sleeping on the plane in LAX on stand up overnights. That would suck. Overall he was happy with the people he worked with and I am sure might have considered staying longer if the place wasn't so shaky.
 
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