Eastern Airways

[Aviador]

Don't they own Humberside airport as well.

 

[paully]

Don't they own Humberside airport as well.

Seemingly so, although Bristow and Bond moved their off shore ops to Norwich some time ago...Coastguard Search and Rescue are however based there with Bristows...Makes you wonder what sort of yarn they spun to the MOD to get that contract, although it was decided by bean counters, not those with common sense.

 

[lbaspotter]

Texas-based Bristow is been advised by one of its shareholders Global Value Investment (GVIC) to sell both its UK and Aussie based fixed-wing operators Eastern Airways and Air North to starve off Chapter 11 Bankruptcy protection.
After having conversations with another fixed-wing operator GVIC believes it can attract buyers for the pair, to transform them into "regular scheduled airlines..

begs the question as to who would be interested ?

https://www.flightglobal.com/news/a...stern-could-be-sold-under-bristow-res-457851/

 

[Jerry]

begs the question as to who would be interested ?

Could be a consortium like who took over Flybe? But anyone who takes over Eastern will have to have deep pockets for fleet replacement and decide what sort of airline they want them to be.

 

[Finger66]

Heard AIL are going to buy them, place them in administration and then transfer everything to Loganair. Or is that just the cynic in me?

 

[Bigman]

Probably Bombardier Belfast as well!!!

 

[Finger66]

So here is an opportunity for Eastern. As LM are clearly making a pitch for their territory down the Eastern side of the UK, it would be very much in T3s interests, bearing in mind their financial woes, to not enter into a bloodbath with LM on those routes in the same way that happened between LM and BE. It is clear that LM are not interested in LBA but this is an ideal opportunity for T3 to expand at LBA. They should get back on ABZ using the based a/c to do something like LBA SOU LBA ABZ LBA SOU LBA ABZ LBA SOU LBA like the Capital AL model that worked so effectively. They get through pax SOU ABZ and vice versa plus the other LBA point to point to ABZ and SOU, gets SOU a frequency increase which appeals to the business traveller. But it means they don't lose ABZ pax from this area to LM as they can also operate from LBA with no competition. Everything marketed under the BE franchise so has to be a winner. There are also more routes they could look at but the above would be a very good start in my eyes. Ensure reliability is good and there is a killing to be made rather than entering any bloodbath that would drain finances even further.

 

[lbaspotter]

US based Bristow Group have today filed for Chapter 11 Bankruptcy protection.

https://www.ch-aviation.com/portal/...pter-11?utm_source=dlvr.it&utm_medium=twitter

This protection dose not include its UK based fixed wing operator Eastern Airways..

 

[Aviador]

US based Bristow Group have today filed for Chapter 11 Bankruptcy protection.

https://www.ch-aviation.com/portal/...pter-11?utm_source=dlvr.it&utm_medium=twitter

This protection dose not include its UK based fixed wing operator Eastern Airways..

And from the same article it says Eastern Airways has become "consistently become less profitable", but indicates the airline could be worth up to $160m

 

[lbaspotter]

Ok further update:
Flight Global website reporting that Bristow Group has actually sold Eastern Airways in a deal agreed on May 10th.

I'm Not sure who's bought it though.

https://www.flightglobal.com/news/articles/bristow-bows-to-inevitable-and-enters-chapter-11-458120/

 

[Finger66]

Interesting day all round for T3 then. They also increased the rhetoric with our Scottish friends.
Www.traveldailynews.com
Can the new owners turn them around I wonder or will there be a shift in their business model

 

[Jerry]

Definitely no prisoners taken in that statement! Apparently as well Bristow has retained ownership of Humberside airport.

 

[paully]

Seems like its been sold to a company very closely associated with their previous owner one Richard Lake..hmm

 

[lbaspotter]

Bristow Group have sold Eastern Airways (UK) to "Orient Industrial Holdings Limited"

 

[airforced]

Bristow Group have sold Eastern Airways (UK) to "Orient Industrial Holdings Limited"

Do we know anything about these people and what their purchase might mean for LBA and the Eastern operations more widely?

 

[Jerry]

Do we know anything about these people and what their purchase might mean for LBA and the Eastern operations more widely?

Apparently they might be connected to their former owner.

 

[Finger66]

I think Oriental Holdings have one named director with the initials RL. Knowing previous animosity between BE and LM following the franchise split, I don't see much in the way of kiss and make up between T3 and LM after recent press releases from both sides. Interesting times ahead.................

 

[paully]

I think a lot of staff also left previously. Wonder how much it cost to buy it back????

 

[White Heather]

Well lets hope that the current replacement of the Saab 2000 with the Embraer 145 on the Southampton route is a good omen as to their intentions. That seems to have occurred since the sale?

 

[Finger66]

Probably about one pound! But to take on any debts. What are J41s and S2000s worth for scrap these days