Jetsgo On The Brink?

Old Feb 17, 05, 8:36 pm
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Jetsgo On The Brink?

Not sure how many here read Wings magazine. I just got the latest today, and they had a small article on speculation that Jetsgo is not too much longer for this world. It said their mixed fleet and the fact that fleet is spread so thinly across the continent was going to be their downfall. Leblanc naturally says that although they aren't making money, they have good cash flow, and aren't going anywhere.
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Old Feb 17, 05, 9:18 pm
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CEO: Jetsgo Struggling but not Going Bankrupt
CFRA Staff
Tuesday, February 1, 2005

Jetsgo’s top boss admits the airline’s not making any money.

CEO Michael Leblanc says they’re carrying plenty of passengers but is struggling financially. However, Leblanc dismissed reports that Jetsgo is on the verge of bankruptcy.

Leblanc says other Canadian airlines like Westjet and Air Canada are also failing to make money.
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Old Feb 17, 05, 9:47 pm
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AC failing to make money?
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Old Feb 17, 05, 9:58 pm
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Funny, wasn't there an article in today's Pest reporting Jetsgo was going to add customer service staff as a result of an internal analysis of their Dec 23 fiasco?
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Old Feb 18, 05, 8:28 am
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For a fun game, try calling them on their toll free.... see how long you take to get to talk to an agent, then hang up and try and beat that record. My max is 3 hours 36 minutes. Doesn't re-assure me at all.
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Old Feb 18, 05, 8:57 am
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"and aren't going anywhere"

- now that's reassuring
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Old Feb 18, 05, 9:56 am
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LeBlanc is a pretty feisty, albeit shady, guy. He pulled a fast one by getting out of ROYAL and selling it to C3K before the true finances became clear. He seems to be able to tap into money, but who knows from where? As for being spread too thin, wasn't the problem with the Christmas fiasco that it was too concentrated at YYZ? Guess you can't win.

It is always safe to speculate on his ventures as this is a private company and nobody can really know for sure. What is clear is that LeBlanc's giving Clive ulcers, and wrecking havoc to WJ's business plan.
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Old Feb 18, 05, 2:01 pm
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Originally Posted by ABG
For a fun game, try calling them on their toll free.... see how long you take to get to talk to an agent, then hang up and try and beat that record. My max is 3 hours 36 minutes. Doesn't re-assure me at all.
Hmm someone has too much time on their hands.
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Old Feb 18, 05, 2:32 pm
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Originally Posted by YOWkid
AC failing to make money?
Yah lets look back for the last 24 months.... I would say AC isnt making money...
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Old Feb 18, 05, 2:37 pm
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Originally Posted by why fly
Yah lets look back for the last 24 months.... I would say AC isnt making money...
And hows UA doing? Oh yeah losing money since 2000.
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Old Feb 18, 05, 4:28 pm
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JetsGo has been on the brink since Day 1, but they have managed to survive so far. Who knows how long it will last.
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Old Feb 18, 05, 4:37 pm
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Originally Posted by Luubert
And hows UA doing? Oh yeah losing money since 2000.
OK so add Delta, Continental, AA, and WOW even West Jet now... It might be stale news but I think CP had an issue with profits and Canada 3000/Royal missed a few payments....
Selling airline stocks short was the best "buy" for the last few years.
And AC today might be great for that also Only time will tell.
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Old Mar 11, 05, 3:12 pm
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Originally Posted by StuMcIlwain
JetsGo has been on the brink since Day 1, but they have managed to survive so far. Who knows how long it will last.
'Til yesterday...

http://www.flyertalk.com/forum/showthread.php?t=409767
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