A ris saved by Belgian financial?

[Comet]

I cannot comment on the two news reports as I don't understand a word of them! But I do agree that Belgian funds should be invested in Belgian projects. With the threat of bankruptcy hanging over Sobelair, the main priority, I think, should be jobs for those who could be made redundant if Sobelair go.

[sabena4ever]

Hello,
Here an another text about this, in french, (from yahoo.fr)

http://fr.news.yahoo.com/031215/202/3jwis.html
lundi 15 décembre 2003, 15h36
Aeris: un ultime projet de reprise, au succès improbable

Translation, The last chance for Aeris, but (improbable) unlikely success

About Ryanair, we are waiting what's the decision of the European Court
ciaooo d sabena4ever

[sabena4ever]

Hello,

This is the end of Aeris


lundi 15 décembre 2003, 18h04
Atterrissage brutal pour Aéris
TOULOUSE (AP) - Le dernier espoir d'une reprise de la compagnie aérienne toulousaine Aéris s'est envolé lundi après-midi avec la redistribution de ses "slots" (créneaux horaires) sur l'aéroport d'Orly

ciao d sabena4ever

[Avro]

If there is money coming from belgian investors for french airlines, there should definately be some for Sobelair

I don't know why, but I have the impression that the people that have the possibility to invest in Sobelair don't do any efforts.

Chris

[vflies]

About Ryanair, we are waiting what's the decision of the European Court

You're correct but the whole case against Ryanair would crumble as soon as another carrier enjoys the same benefits at CRL.
That's probably why there are so many rumors of new start-ups launching CRL flights in the months to come. I guess the Brussels South Airport authorities are not only busy lobbying the EU, but also trying to attract new clients to make sure they win their case and keep their Irish golden egg...

VFlies

[vflies]

Belgian funds should be invested in Belgian projects (...) the main priority, should be jobs for those who could be made redundant if Sobelair go.

My point exactly, Louise!

VFlies

[vflies]

If there is money coming from belgian investors for french airlines, there should definately be some for Sobelair

I totally agree, Chris.
SLR, SNBA, VEX, BEAP project, etc: they could all use some fresh investments.
It's sad to see that Belgian investors show once again so little patriotic support. We all remember how Swiss was funded after SR went down and what SNBA received...

VFlies

[Dorfmeister]

If there is money coming from belgian investors for french airlines, there should definately be some for Sobelair

We all remember how Swiss was funded after SR went down and what SNBA received...

VFlies

And we also all see clearly which one is burning money and which one is nearly in black ink.

-Dorf'

[vflies]

And we also all see clearly which one is burning money and which one is nearly in black ink.

Sorry 'Dorf, but as I already said elsewhere I don't believe in those 'black numbers' for SNBA...
Just like that one year when SN (the real one, Sabena) made a profit under Swiss management and it later appeared to have been an "accountant profit", namely it is all too easy for accountants to modify numbers, delay a payment or so to offer a "profit" for a financial quarter/year...

That Dutch CEO repeated many times he would make a profit this year, now he HAS TO announce one if he's to remain credible...
so he probably will...

And you're right in implying that Swiss is (has been?) mismanaged, but at least it started with a decent capital. SNBA started more like a family business than an international airline operation...

VFlies

[Flybe]

That Dutch CEO repeated many times he would make a profit this year, now he HAS TO announce one if he's to remain credible...
so he probably will...

I have to disagree. My opinion is that they for sure won't post a profit, because of the heavy losses in the first quater. Indeed they didn't precise the losses then, but the CEO has stressed already enough throughout the year that they won't make a yearly profit this year, because of the first quarter. So no pressure on him for this year.

Second, i have to say that the yearly balances and cash flows of companies are throroughly checked, and it is not so easy to cheat the "commissioners" that check it.

Third: I believe you when you say that Swiss had a bigger capital when it was started up, but a huge capital doesn't mean that the airline will have it much easier. The result you see now: Swiss is undoubtedly in a worse position then SNBA, and after only how many years?

You can be sceptical about the figures of SNBA, i also don't believe it all, but you also do have to stay realistic: as a young company, SNBA isn't doing too bad. And yearly balances: those you can mainly trust. If you don't, ok by me, but then aren't you implying that all investors and shareholders who are investing in the company based on those figures are being cheated? 8)

Greets,

Pieter

[Flybe]

Oops, forgot:

About Belgian investors in French airlines, it's a sad thing, but i can understand that they look for the company with the most potential (in their eyes). I don't know anything about Aéris, but i guess that the investors see a higher profit in that in the future then in SLR... How would you be if you have money to invest? I would go for the highest return too, even if it would be at the other side of the globe! Unfortunately i don't have any money to invest yet...

Bye,

Pieter

[vflies]

Hello Pieter,

You probably make a few good points there, but I still believe that ethics are good even when doing business... 8)
Call me old-fashionned...

VFlies

[Flybe]

VFlies,

I agree totally, but also let's not confuse ethics with nationalism/patriotism 8)

Althoug it is indeed a sad thing that SLR has so many difficulties in finding the necessary funds...

Greets,

Pieter

[vflies]

let's not confuse ethics with nationalism/patriotism

Not being a Belgian citizen, I shouldn't have to worry about that! LOL

VFlies