Hawkair and Bar X

bronson · Post by **bronson** » Fri Oct 27, 2006 12:09 pm

Hawkair and Bar X are set to merge...what sort of outfit is Bar X?

oldtimer · Post by **oldtimer** » Fri Oct 27, 2006 1:22 pm

One of the better ones. Works you hard, pays industry standard which means the shits, but keeps the equipment in good shape and treats the crews well. I think. Les Little has been in business for many years and knows his stuff. Should be a good match up. I hope.

snag · Post by **snag** » Fri Oct 27, 2006 1:31 pm

You mean Bar XH?

bronson · Post by **bronson** » Fri Oct 27, 2006 2:06 pm

Bar XH, yes

heeypilot · Post by **heeypilot** » Fri Oct 27, 2006 3:38 pm

heard if they do buy it, it will be for $1... ..... which, come to think about it... is about .50 cents more per hour than i make flying.

turbo-prop · Post by **turbo-prop** » Fri Oct 27, 2006 3:59 pm

They are paying about $200,000 for Hawk's OC

Lommer · Post by **Lommer** » Fri Oct 27, 2006 6:08 pm

Yes, there is currently negotiations in the works to have Bar XH buy Hawkair for $1. Included in this deal, Bar XH would be paying off most of Hawkair's outstanding debts. The deal has been approved by the courts and all of Hawkair's creditors except IMP (which owns the -8s that hawkair leases). The deal isn't set in stone yet but it is looking very likely, so keep your fingers crossed as it would save a good company, good crews, and hopefully mean a return to profitability for Hawkair.

fogghorn · Post by **fogghorn** » Fri Oct 27, 2006 6:38 pm

Lommer wrote: The deal isn't set in stone yet but it is looking very likely, so keep your fingers crossed as it would save a good company, good crews, and hopefully mean a return to profitability for Hawkair.

Lots of hoops to jump thru before this happens and if it does, it likely means the end of HA's sked service and that operational control goes to Bar XH. Not good news for employees or customers in Terrace & YPR.

turbo-prop wrote:They are paying about $200,000 for Hawk's OC

Where are you getting this from?? You can't sell an OC.

GearBay Overheat · Post by **GearBay Overheat** » Fri Oct 27, 2006 7:55 pm

....but you can buy the "company" to get an OC. I have no idea what Bar XH plans...but in theory it could just be a paper transaction.....keep the bare bones shell of the company to maintain the OC....dump/sell off what few assets Hawkair has left that aren't needed....and in time change the company name on the OC to that of Bar XH.

I'm curious why Bar XH is trying to buy Hawkair. They are a debt heavy company which doesn't make for an attractive situation.....are the Dash8s lease to purchase....ie. is there a fair amount of equity already established in those aircraft? If so I guess Bar XH could own a couple decent aircraft after a year or two.