The party is over ?

SkyWest neemt Expressjet (COEX) over?? mmmm... Het sprookje gaat verder..

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[Continental Airlines Logo]


CONFIDENTIAL
April 7, 2008
Mr. James B. Ream
Chief Executive Officer and President
ExpressJet Holdings, Inc.
700 North Sam Houston Parkway, Suite 200
Houston, TX 77067



Mr. George R. Bravante, Jr.
Chairman
ExpressJet Holdings, Inc.
700 North Sam Houston Parkway, Suite 200
Houston, TX 77067



Dear Jim and George:


We understand that SkyWest, Inc. (“SkyWest”) has delivered to you an offer to acquire ExpressJet Holdings, Inc. (“ExpressJet”). In connection with your consideration of such offer, we wanted to inform you of our understanding with SkyWest regarding a new capacity purchase agreement (“CPA”) and our intentions regarding our existing contractual relationship.


First, we confirm that we have negotiated a new CPA with SkyWest, which would become effective if SkyWest is successful in acquiring ExpressJet (which, in turn, is subject to due diligence, among other things), and that we would consent to the change of control that would occur upon such an acquisition.

Second, absent our entering into a new CPA with savings of the magnitude we have negotiated with SkyWest, we currently expect to deliver to ExpressJet on June 28, 2008, a notice to withdraw 51 of the existing 205 Covered Aircraft from the current CPA, beginning in December 2009. Further, although we have the right to terminate the existing CPA at any time, we currently anticipate we will not extend the term of the current CPA (which we must do, if at all, by December 31, 2008), and thus the current CPA would simply expire in accordance with its terms beginning on December 31, 2010, with the expectation that all aircraft would be removed from the current CPA by the end of 2012.


We hope this information is helpful to you.


Sincerely,


Jeffrey J. Misner
Executive Vice-President and Chief Financial Officer
Continental Airlines, Inc.

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19 of 77 said:
In Alberta, Canada they have the Tar Sands - contains more oil than the entire reserves of Saudi Arabia.
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Well then here is food for thought.... Let's attack Canada next instead of Iran !!! :grijns:

Shorter walk, easier to get our troops there etc etc... Should take us what? A whole 2 days to take Canada over !? :grijns:
 
Invade Canada??

Is in 1995 al een film over gemaakt met John Candy en Alan Alda. "Canadian Bacon".
Geeft helder weer waarom dit nooit zou lukken.:haha:

Terug naar de fuel prijs,

Spot, USD. 1165 per ton, t.o.v. vorige maand +12.5 % en een jaar terug + 74 %

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Zo, is iedereen weer op de hoogte.

Cheers
Art
 
19 of 77 said:
Yep - heard this before. More scaremongering IMHO.

In Alberta, Canada they have the Tar Sands - contains more oil than the entire reserves of Saudi Arabia.

There's loads of oil - there's a lack of refining capacity. The current high prices are caused by speculators. There's no reason for the current prices IMHO.
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I truely hope so. It's why I have been reluctant to bring it up. It's hard to distinguish between fact and fiction. It's also hard to distinguish between the ideas of economics and conspiracies (is there really a problem, or are the oil companies pushing us to the very price limit in an effort to maximise profits? Or maybe a scenario in the middle like extending the reserves by keeping production limited while charging the maximum for the oil). However, there are reports that give the average barrels per day (see http://www.eia.doe.gov/):
1997 74.158
1998 75.654
1999 74.840
2000 77.762
2001 77.684
2002 76.995
2003 79.615
2004 83.124
2005 84.631
2006 84.597
2007 84.601

From this list you can see that the amount produced is still rising, but unfortunately it doesn't show the increase of need for oil (think of the economic boom in Asia and China at the moment, depending on oil). At some point the demand for oil will keep rising, while the production will fall behind. By that time we will need to have alternative energy sources or we will face major consequences.

As for the (slow) development of Fusion reactors: if there is a will (read: money available) I'm sure the construction of these reactors will at least go faster. And if the need is high I'm sure people will accept increased risks, so the time to improve procedures will be decreased, or multiple reactors will be built simultaneously :)

Anyways I don't expect drastic changes for the next decade at least, but then an old Chinese verb goes like this:
'To predict is very hard, especially when it's about the future'
 
I am willing to bet that we will see the day where oil prices reach $200 a barrel. Sad part is that I will put my money on this being not in the to distance future.

Again though, I do not see to many European companies (legacies that is) getting in trouble.

BA/KLM/LH/Air France are making plenty of revenue with their overseas flights, wherby most US legacy cariers have to compete with all LCC's here in a already overcrowded market on the domestic market. Sure, KLM will have to compete with FR and EZ on their Europe flights, but they are making plenty of cash on their ICA and cargo flights.

Stateside Delta (for instance) will have to compete with SWA, NWA, Jetblue, Airtran, Alliagent etc etc on our domestic market while only 5/10% of their (Delta) flights are overseas (money making) flights in which they will not have to compete with the companies mentioned above.

Add to that the fact that (big fact!) age 65 just passed so therefore it is only a natural effect that hiring stopped at the legacies. As always this means it having a domino effect all the way "down" to the regionals, which is way some (mind you I am saying some) regionals stopped hiring, others are hiring into hiring pools and some just keep hiring like it's 2005 ;).

So no, really I am not seeing the sky coming down just yet. I do not think, as long as we (the U.S.) not fall into a deep recession things will come to a screatching end hiring wise both in Europe and Stateside. Due to attrition hiring will stay strong here stateside. I am seeing hiring pick up again here within 1.5 years. Plenty or retirements due, less and less people willing to go to flight training while demand for flying will keep increasing with the flying public.

FD
 
Flying Dutchman said:
Well then here is food for thought.... Let's attack Canada next instead of Iran !!! :grijns:

Shorter walk, easier to get our troops there etc etc... Should take us what? A whole 2 days to take Canada over !? :grijns:
Click to expand...

It's been tried before (something most Americans don't know).

War of 1812

Back on topic

$200 oil? More scarmongering IMHO. I can't see any justification for the current prices.

Unfortunately there will be a lot more Airlines going under this year - the party is definitely over for the time being.
 
De prijzen hebben momenteel echt geen enkele relatie tot wat dan ook!
Stopt er ergens een rafinaarderij voor 2!! dagen, gaan de prijzen weer omhoog.
Als er iemand in het midden oosten een scheet dwars zit.... stijgen de prijzen. Trouwens... wat is de reden dat Amerika zulke grote olie reserves heeft aangelegd? Doet de prijzen ook alleen maar stijgen.
Over een paar jaar wordt autorijden een schaars goed, vliegen alleen voor de rijken.
Als het echt allemaal zo door blijft gaan, zie ik het somber in..........
 
19 -

Your referring to a war between my homeland and the U.K. including the Irish and Canadian (back then) colonies 1812 - 1815.

anyway, although we lost more man (give or take 2200 compared to 1900 British colonial - including Canadian - troops) we still won the war!

(the pathetic short war that is... man will never learn)

FD
 


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Laat ze maar allemaal weg gaan hier.. Seniority ! :grijns:
 
Laat ze maar allemaal weg gaan hier
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Juist en laten ze in de VS de poort maar openenen voor de vele werkloze piloten hier in Europa.
Een en ander zal een positieve uitwerking hebben. Het tekort aan piloten in de VS wordt een beetje verlicht en het overschot aan piloten in Europa zal drastisch af nemen, wat weer een positieve invloed zal hebben op onze T&C's hier in Europa!

Dank je FD, ben blij dat je ook aan onze werkloze piloten hier in europa denkt!
Of ging het je alleen om je seniority? ;)
 
Hoe zit het eigenlijk belastingtechnisch met de prijzen van jet fuel prices. Is dit nou geheel belastingvrij, welke kosten komen er nog eens bovenop?
 
GJK -

Dit zal niet gebeuren. Net zoals Transavia echt niet morgen de deur gaat openzetten naar non EU citizens.
 
De prijs of de olie is zo hoog voornamelijk door Hedge funds en traders. Las net nog op de opec site dat deze mannen de prijs hebben opgedreven met 60%. Je ziet nu hetzelfe in de voedselindustrie. Daar gaan ze nu ook in beleggen en de prijzen van o.a rijst en granen schieten ophoog
 
Pornokoning said:
De prijs of de olie is zo hoog voornamelijk door Hedge funds en traders. Las net nog op de opec site dat deze mannen de prijs hebben opgedreven met 60%.
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Tussen de tijd dat het kost om een vat olie per tanker van Abu Dhabi naar de europoort te brengen zijn de rechten op dat vat al 5 keer van eigenaar verwisseld en elke keer natuurlijk voor meer geld...
 
Om nog maar niet te spreken van de vaten olie die op de oceaan liggen te wachten tot ze een raffinaderij toegewezen krijgen. De output van olie heeft altijd veel invloed op de prijs, maar met de voorraad ruwe olie waar geen capaciteit voor is, slaat dat gewoon nergens op.

Maar idd, dit krijg je als een product een soort aandeel wordt.
 
Silverjet stopt ook per direct hun operatie, de laatste all-business class carrier die vanaf London vliegt, nadat MaxJet en EOS ermee opgehouden zijn.

Lees hier

Ben benieuwd hoe OpenSkies van BA gaat presteren en de toekomstige A318 operatie van LCY van BA.
 
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