Surprisingly in recent years one of the most active players in aviation finance has come from Iceland. Two groups Avion and Fons Eignarhaldsfelag or their friends /proxies jumped onto the world stage. A third - the former Government controlled national Carrier Icelandair now FL group was already well established.
Avion owned XL Airways Group until it divested in 2006. The currently own a number of freight and shipping companies including Air Atlanta Icelandic one of the largest ACMI providers in the world.
The other group made some interesting investments. It made money of our a holding in EasyJet at one time challenging Stelios for the largest single block. Once they dumped this holding they invested into American buying near the top of the AMR value only to see that price plummet. Today they own interests in Sterling (DK), Astreus (UK) and Iceland Express.
These guys are players and have a role in the world aviation market. The meltdown of Stocks that accelerated into a rout over the weekend also hit the Icelandic banks with the government essentially agreeing to bail out the big 3 players who are all heavily invested in these 3 companies.
The ripple out effect will be felt far beyond the borders of little old Iceland.
I could decipher more but its pretty complicated. All of it is not pretty.
Showing posts with label ACMI. Show all posts
Showing posts with label ACMI. Show all posts
05 October 2008
29 April 2008
Regionals and ACMI operators starting to look a little thin.
The surprise bid by Skywest for ExpressJet over the weekend - and the subsequent speed with which it was rejected is likely to be a harbinger of more upheaval in the market.
ExpressJet has been struggling since former parent CO cut back on its hours. Running a lite operation on its own was perhaps not the smartest move but they are still trying. Best of luck to them. I think they are going to need it. That said their value jumped on Friday and has stayed up on Monday and Tuesday. It means someone is in the hunt.
Republic is looking less than its normal robust self. With warning bells being sounded. Previously it looked like the Commuter ACMI operator could do no wrong. Now some of the aircraft asset owners are getting jittery.
Frankly as we have written before the current ACMI Pay for Play models are going to change which makes the whole sector look less appetizing.
And then there is Mesa. Will someone please put this puppy out of its misery!
ExpressJet has been struggling since former parent CO cut back on its hours. Running a lite operation on its own was perhaps not the smartest move but they are still trying. Best of luck to them. I think they are going to need it. That said their value jumped on Friday and has stayed up on Monday and Tuesday. It means someone is in the hunt.
Republic is looking less than its normal robust self. With warning bells being sounded. Previously it looked like the Commuter ACMI operator could do no wrong. Now some of the aircraft asset owners are getting jittery.
Frankly as we have written before the current ACMI Pay for Play models are going to change which makes the whole sector look less appetizing.
And then there is Mesa. Will someone please put this puppy out of its misery!
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