Any Truth To The Psa Sale To Air Wiskey

[ManDachine]

Has anyone heard that PSA is being sold to Air Wisconsin with an announcement date of the 26th or 27th?

 

[WSurf]

Yea, and all the PSA folks stabled to the bottom of AirWilly's Seniority list!!! ;-)

 

[USA320Pilot]

As I indicated prior to the MDA sale, MDA, PSA, & Piedmont were all offered for sale last winter to boost US Airways' liquidity position when the company's cash balance nearly violated ATSB minimum requirements.

I understand for the right price PSA and/or Piedmont could still be sold, but I have not heard anything specific regarding your report.

Meanwhile, BOS station personnel reported that Doug Parker was in BOS yesterday seeking more money to raise the company's liquidity, however, it is uncertain why US Airways keeps building its cash position with either non-core asset sales or new financing agreements.

Regards,

USA320Pilot

 

[bwipilot]

I would guess that fuel prices are eating cash that was stashed away (and that needs to be replaced by selling). Hence, the Republic sale went through--some thought U might hold on to the slots and 170's.

 

[FWAAA]

I would guess that fuel prices are eating cash that was stashed away (and that needs to be replaced by selling). Hence, the Republic sale went through--some thought U might hold on to the slots and 170's.

[post="304247"][/post]​

I agree; I assume that tens of millions of gallons of JetA at $2.00 - $2.25/gal has a lot to do with it the need to continue to raise cash. It's being spent at an alarming rate.

 

[Pylit]

I believe FYI has Rolls-powered Airbii, just like UAL. U, sorry: LCC - has GE/Snemca propulsion units. But, maybe the A/C still in the factory could be configured to GEees. Also, FYI's A/C are 319's, and LCC is parking a number of 319's....
IMO given these observations, FYI doesn't have anything LCC wants except customers and the reduced lift available along the east coast.
Cheers

 

[700UW]

America West uses IAE engines the V2500, which is manufactured by a constortium as does FLYI, US uses GE/Scnema.

Each IAE partner contributes an individual module to the V2500 engine. Pratt & Whitney produces the combustor and high-pressure turbine, Rolls-Royce the high-pressure compressor, JAEC the fan and low-pressure compressor and MTU the low-pressure turbine. Pratt & Whitney and Rolls-Royce assemble and test the engines at their respective facilities in Connecticut, USA and Derby, UK. While IAE's headquarters are located in East Hartford, Connecticut, the engineering group is based in Derby, UK. 52 field offices support IAE's customers world-wide.

IAE Customers

 

[robbedagain]

isnt that what powers Delta's MD-90s? the IAE engines?

 

[SegmentKing]

.. crap... I was just getting used to working for a wholey owned too....

 

[PropPiedmont]

Back to the topic:

Has anyone heard that PSA is being sold to Air Wisconsin with an announcement date of the 26th or 27th?

[post="304212"][/post]​

Don't forget, Air Whisky put up $125 mil. If Republic can but all the MDA assests and a ton of slots for $90 mil, imagine what $125 mil can get you. PSA was sold long ago when Air Whisky put that money into the pot.

The question should be:

Is $125 million enough to buy PDT along with PSA?

 

[robbedagain]

Why would Air Whiskey want to buy PI since PI is an all DASH-8 fleet? I thought that in today's world, the RJs are the way to go?

 

[WSurf]

RJ's are the way to go!! However with fuel prices, 50 seat RJ's aren't the way to go!
Rumor, Only Rumor!! Group is finally looking at purchasing between 25-30 Newer Dash 8's. Hopefully they will be the more modern ones (like the Q400 with 70 seats, quieter then the RJ's, and Big time profit margins) not more old used ones.
We got into the 50 seat Jet market way, way late!!!

 

[Rico]

Hmmm, IMO the more likely thing is that the company is shopping both PDT and PSA around, not just with what assets they own now, but what they would be contracted to operate later.

Much like the Mesa buying frenzy in the past that gave them a larger percentage of USX's flying as they purchased part of ALG, and all of Crown and CCAir... Someone buying into either PDT or PSA is buying a large chunk of fee for departure (read = profit built in) Expresss flying.

Add the chance to "upgrade" your new purchase with larger equiipment types, liek the CRJ700/900 for PSA or Dash-8 300Q/400Q models and the company actually has an attractive operation to purchase.

The company gets the revenue boost right now to increase liquidity (and ability to increase into more "core" revenue like the E-190's or Airbuses, or possibly assets from other airlines), and the company gets to operate additional large turboprops and RJ's

Personally IMO it would be better to do it in house, but if you have to shed assets, it is best to make the most of such a move.

 

[d328pilot]

All of the different rumors are probably because the MEC going to dayton to meet with the company on the 27th. Since its the 1st day out of bankruptcy, people are thinking there is going to be some big announcement. Truth is, this is a meet and greet with the new PSA president and to discuss some outstanding issues and a few new ones. The MEC picked the day and it just happened to fall on the 1st day out of bankruptcy.... The date is just a coincidence.

 

[SegmentKing]

But Keith Howk (spelling?) is our company president and will be, right? Unless Ralph James or Mike Chumbley is getting it ^ _ ^