USGlobal Airways(Baltia) buys Songbird Airways AOC

LAXintl · Tue Jun 27, 2017 6:08 pm

Per SEC filing, USGlobal Airways entered into LoI to acquire all shares of Songbird Airways (formerly Sky King) for $6.2mil from AerLine Holdings LLC which acquired the Sky King in 2014 out of chapter 11 bankruptcy.

The Florida based company owns a single 737 utilized on charters and has FAA authority to operate fleet up to 10 aircraft, while holding required valid DOT economic certificates.

Deal is expected to close no later than September 15th.

Maybe Baltia will finally fly...

kabq737 · Tue Jun 27, 2017 6:22 pm

Farther than I thought they would make it....

jnev3289 · Tue Jun 27, 2017 7:12 pm

Big step. Good for them

bennett123 · Tue Jun 27, 2017 7:44 pm

This will be a shock.

Will it be a B747 or the B767.

LAXintl · Tue Jun 27, 2017 8:52 pm

767

Baltia to lease 767-300ER
viewtopic.php?t=1350279

jnev3289 · Tue Jun 27, 2017 8:55 pm

Terribad logo and livery

hOMSaR · Tue Jun 27, 2017 9:51 pm

US Global sounds like the airline in a bad, made-for-tv aircraft disaster movie. And that logo makes it look like the globe is actually Saturn (or, umm, Uranus?).

CrimsonNL · Tue Jun 27, 2017 10:18 pm

hOMSaR wrote:
US Global sounds like the airline in a bad, made-for-tv aircraft disaster movie. And that logo makes it look like the globe is actually Saturn (or, umm, Uranus?).

Tell that to these guys!

Martijn

VirginFlyer · Wed Jun 28, 2017 1:02 am

jnev3289 wrote:
Terribad

Simultaneously terrible and bad. Nice one!

rajincajun01 · Wed Jun 28, 2017 4:15 am

Is this the Sun King that used to be Southeast Airlines out of Largo, FL?

viasa · Wed Jun 28, 2017 7:51 am

jnev3289 wrote:
Big step. Good for them

The thing is, Songbird's only aircraft is in storage in GYR since Febuary 6, 2017. So Songbird is not really an "active" company...

raylee67 · Wed Jun 28, 2017 3:15 pm

viasa wrote:
jnev3289 wrote:
Big step. Good for them

The thing is, Songbird's only aircraft is in storage in GYR since Febuary 6, 2017. So Songbird is not really an "active" company...

Well, all they need is Songbird's AOC.

But what takes them so long to acquire a dormant airline's AOC? There has to be other opportunities to buy these in the last 20 years?

TerminalD · Wed Jun 28, 2017 3:24 pm

LAXintl wrote:
Per SEC filing, USGlobal Airways entered into LoI

They entered in to an LOI or an LOL? With Baltia it is usually the latter.

This is terrible news for the company as it removes many of the excuses they have had for not flying. OTOH, they still have to do the life raft test on the 767, so that could take a decade or more.

Polot · Wed Jun 28, 2017 3:34 pm

rajincajun01 wrote:
Is this the Sun King that used to be Southeast Airlines out of Largo, FL?

No, Songbird was formerly Sky King, originally founded to fly the Sacramento Kings (hence the name).

Southeast airlines just used the former National logo called the "Sun King" before dying.

jnev3289 · Wed Jun 28, 2017 5:48 pm

I think everyone is giving them crap, but it sure seems like this new leadership is focused on actually making progress. It's not Baltia anymore folks, it is a whole new set of people running the show

rajincajun01 · Wed Jun 28, 2017 6:00 pm

Polot wrote:
rajincajun01 wrote:
Is this the Sun King that used to be Southeast Airlines out of Largo, FL?

No, Songbird was formerly Sky King, originally founded to fly the Sacramento Kings (hence the name).

Southeast airlines just used the former National logo called the "Sun King" before dying.

Thanks. Apparently reading is hard for me!

mercure1 · Sun Jul 02, 2017 6:22 pm

Have they talked about potential routes yet, or are they still planning NYC-Russia?

kjeld0d · Sun Jul 02, 2017 6:24 pm

I'm still waiting for my golden rooster club card

Italianflyer · Sun Jul 02, 2017 7:04 pm

Where they get $6.2 mill from???
Kind of deep pockets for a decades old paper airline.

OA940 · Sun Jul 02, 2017 7:46 pm

Whose family in the FAA did they kidnap to make this happen?

TheGeordielad · Sun Jul 02, 2017 8:01 pm

mercure1 wrote:
Have they talked about potential routes yet, or are they still planning NYC-Russia?

Yes they are talking about SWF- to Europe and possible destinations are London,Paris,Barcelona,Nice,Athens,Warsaw,Budapest,St Petersburg and Tel Aviv
https://worldairlinenews.com/category/baltia-air-lines/

MO11 · Sun Jul 02, 2017 8:01 pm

Songbird has an FAA supplemental certificate, and DOT charter authority. You can't operate scheduled service with those.

OA940 wrote:
Whose family in the FAA did they kidnap to make this happen?

What does the FAA have to do with this?

DfwAussie · Sun Jul 02, 2017 8:24 pm

Had this happened a few years ago, it might have worked. Since they have changed their business plans and names so many times, I continue to doubt the viability of this carrier, especially when a new breed of longer range LCC's in the market now.

OA940 · Sun Jul 02, 2017 10:52 pm

MO11 wrote:
Songbird has an FAA supplemental certificate, and DOT charter authority. You can't operate scheduled service with those.

OA940 wrote:
Whose family in the FAA did they kidnap to make this happen?

What does the FAA have to do with this?

Well, they are considering this sooooooooooooooooo..............

MaksFly · Mon Jul 03, 2017 4:06 am

It's all a pump and dump..... just an excuse for owners to expense their salaries.

Blankbarcode · Mon Jul 03, 2017 7:27 am

I was actually looking forward to maybe one day flying the golden rooster... but this new brand is absolute trash to me. Went from being a funny- and maybe even endearing underdog to some generic mid 2000s mockup. I'd be lying if I said I wasn't disappointed.

And that name... snooorrrrreee

LAXintl · Thu Aug 03, 2017 3:50 pm

Per updated SEC filing, USGlobal expects to close the $6.2 million purchase of Songbird Airways by September 15th.
They plan to utilize Songbird authority to operate charters with 737 equipment this winter to markets like the Caribbean, while they continue to plan 767 lease in 2018 to launch Europe service.

jnev3289 · Thu Aug 03, 2017 4:03 pm

I guess they kind of have to operate the 737 until they can implement the longhaul ops right? I wonder if they'll continue doing it once they start their core business plan

LAXintl · Mon Sep 04, 2017 5:09 pm

Per updated SEC filing, US Global has entered into definite a stock purchase agreement with the parent of Songbird Airways (US) for a purchase price of US$6.5 million. The acquisition is now scheduled to close on 15 October 2017.
USGlobal also entered into an aircraft lease agreement with AerSale for the lease of a B737-400, serial 25417.

diverted · Mon Sep 04, 2017 7:17 pm

LAXintl wrote:
Per updated SEC filing, US Global has entered into definite a stock purchase agreement with the parent of Songbird Airways (US) for a purchase price of US$6.5 million. The acquisition is now scheduled to close on 15 October 2017.
USGlobal also entered into an aircraft lease agreement with AerSale for the lease of a B737-400, serial 25417.

AKA N417XA, the sole bird in the songbird fleet. Judging from their recent past, this being successful is only slightly more likely than the previous 20 years of Baltia.

lesfalls · Fri Nov 10, 2017 9:33 pm

Seems like their foreign Schedule passanger authority will be taken away:

http://www.ch-aviation.com/portal/news/ ... -authority

I wonder how they will combat that.

spinkid · Fri Nov 10, 2017 11:04 pm

SWF-Tel Aviv would be an interesting route. There is a very large Orthodox Jewish population in Orange County, NY just minutes from SWF.

LAXintl · Fri Dec 01, 2017 9:23 pm

The deal fell through... The financial mirage continues...

On Wednesday, November 29th, the company filed an 8k stating that our agreement to purchase Songbird Airways has been terminated. While we understand this may come as disappointing news, this move is a result of our continued effort to ensure the executive management team is making the best decisions possible for this company and its shareholders over the long-term. We are keen on moving in a direction which will expedite the generation of revenue and profitability for this company, and continue to explore the existing opportunities which will allow us to do so. Our Board of Directors met yesterday and unanimously decided to move forward with our revised approach. Due to the confidentiality of the relevant parties, we cannot go into more detail at this time.

https://www.usglobal.com/latest-news

Jetsouth · Fri Dec 01, 2017 10:10 pm

They could probably not handle the acquisition because it would result in them actually having operating planes after almost 30 years of being a paper airline.

Jetsouth · Sat Dec 02, 2017 12:44 pm

This paper airline has found out the secret how to survive in the Airline Industry. It has survived for almost 30 years without flying a single flight. Much, much longer than almost any other "real" airline that actually flew planes. The secret to survival in the industry is to set up an airline that never actually flies a flight. Fly a plane, and you are probably bankrupt within a year. Do not fly a plane, and you can survive for many decades.

Jetsouth · Sat Dec 02, 2017 12:55 pm

They have the best business model of any airline out there....keep your shareholders happy by looking like you are doing something by putting Letters of Intent out there to acquire active airlines, and keep your shareholders even more happy by not pursuing these acquisitions under the basis that acquiring and starting active operations will put you quickly in bankruptcy....

Staralexi · Sat Dec 02, 2017 4:42 pm

While this outfit may never have done anything it continues to provide a great source of humour in this turbulent industry. Above all the press release quoted by LAXintl is a masterpiece of saying absolutely nothing about absolutely nothing. Keep up the good work, US global.

SkyVoice · Sun Dec 03, 2017 5:47 am

Staralexi wrote:
While this outfit may never have done anything it continues to provide a great source of humour in this turbulent industry.

You are so right, Staralexi! Next, expect a JV/codeshare/merger between Baltia/USGlobal and Air Gumbo!

http://www.airgumbo.com/

Jetsouth · Sun Dec 03, 2017 1:09 pm

SkyVoice wrote:
Staralexi wrote:
While this outfit may never have done anything it continues to provide a great source of humour in this turbulent industry.

You are so right, Staralexi! Next, expect a JV/codeshare/merger between Baltia/USGlobal and Air Gumbo!

http://www.airgumbo.com/

And if they merge, they can use the advertising slogan: "the successful airline with 50 years of combined experience of never flying a plane"

Staralexi · Tue Dec 05, 2017 8:47 am

When, I wonder, is USGlobal going to issue a press release announcing that it will issue a letter of intent to have discussions with Boom about the possible use of new supersonic aircraft?

flyingcat · Tue Dec 05, 2017 2:31 pm

So they raise money to by the AOC and then surprise they need to back out. I'm sure they gave themselves all a bonus finders fee and will give themselves a good governance bonus as well. At least Avatar airlines branched out into opening up a medical clinic. It was probably unlicensed and would bill you $100 for a band aid but still counts as diversification.

LAXintl · Tue Jun 19, 2018 4:29 pm

Baltia lost its ability to sell stock as result of US Securities and Exchange Commission revoked its registration.
The SEC’s action followed Baltia’s failure to respond to a May 7 order to bring its annual and quarterly financial reports current. The company hasn’t filed any financials for two years.

http://www.recordonline.com/news/201806 ... om-stewart

MalevTU134 · Tue Jun 19, 2018 4:49 pm

When will this joke and band of fraudsters be closed down already?

janders · Thu Jun 21, 2018 2:21 pm

Airline says:

Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC. The SEC’s filing requirement is very strict and matter of fact. The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.

https://www.usglobal.com/

MalevTU134 · Thu Jun 21, 2018 3:12 pm

janders wrote:
Airline says:

Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC. The SEC’s filing requirement is very strict and matter of fact. The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.

https://www.usglobal.com/

In other words...they need to scrape the bottom of the barrel just to get the financial statements done. And these clowns are looking (again) for investment to start an airline?

enilria · Thu Jun 21, 2018 3:28 pm

MalevTU134 wrote:
janders wrote:
Airline says:

Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC. The SEC’s filing requirement is very strict and matter of fact. The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.

https://www.usglobal.com/

In other words...they need to scrape the bottom of the barrel just to get the financial statements done. And these clowns are looking (again) for investment to start an airline?

If only penny stocks could be worth less than a penny! Then they'd be able to issue 27 billion new shares and raise $13,000 to finish their statements.

MalevTU134 · Thu Jun 21, 2018 3:31 pm

enilria wrote:
MalevTU134 wrote:
janders wrote:
Airline says:

Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC. The SEC’s filing requirement is very strict and matter of fact. The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.

https://www.usglobal.com/

In other words...they need to scrape the bottom of the barrel just to get the financial statements done. And these clowns are looking (again) for investment to start an airline?

If only penny stocks could be worth less than a penny! Then they'd be able to issue 27 billion new shares and raise $13,000 to finish their statements.

Actually, that is not far from what a stock worth 1 Bolivar would bring in. Maybe they should register here on the Caracas Stock Exchange?...

enilria · Thu Jun 21, 2018 3:37 pm

MalevTU134 wrote:
enilria wrote:
MalevTU134 wrote:
In other words...they need to scrape the bottom of the barrel just to get the financial statements done. And these clowns are looking (again) for investment to start an airline?

If only penny stocks could be worth less than a penny! Then they'd be able to issue 27 billion new shares and raise $13,000 to finish their statements.

Actually, that is not far from what a stock worth 1 Bolivar would bring in. Maybe they should register here on the Caracas Stock Exchange?...

The situation in Venezuela is truly horrific.

MalevTU134 · Thu Jun 21, 2018 3:41 pm

enilria wrote:
MalevTU134 wrote:
enilria wrote:
If only penny stocks could be worth less than a penny! Then they'd be able to issue 27 billion new shares and raise $13,000 to finish their statements.

Actually, that is not far from what a stock worth 1 Bolivar would bring in. Maybe they should register here on the Caracas Stock Exchange?...

The situation in Venezuela is truly horrific.

Out of context for this thread, of course...but I just sold dollars here at 3,200,000 bolívares per US dollar. And that value is increasing day by day. A week ago I was paid "only" 2,500,000.

enilria · Thu Jun 21, 2018 3:47 pm

MalevTU134 wrote:
enilria wrote:
MalevTU134 wrote:
Actually, that is not far from what a stock worth 1 Bolivar would bring in. Maybe they should register here on the Caracas Stock Exchange?...

The situation in Venezuela is truly horrific.

Out of context for this thread, of course...but I just sold dollars here at 3,200,000 bolívares per US dollar. And that value is increasing day by day. A week ago I was paid "only" 2,500,000.

Wow, that's crazy. You are in a pretty nice spot (relatively) being paid in dollars. I'm sure that makes you popular. LOL

Who is online

Popular Searches On Airliners.net