Post by eric777 on Aug 20, 2013 16:22:03 GMT -5
AINonline has reported that Avantair will be liquidated.....here is the link:
www.ainonline.com/aviation-news/ainalerts/2013-08-20/avantair-be-liquidated-trustee-tracking-down-assets
Most interesting is the following:
Avantair bankruptcy trustee Beth Ann Scharrer asked the court to authorize the examination of Avantair CEO Steven Santo, CFO Bret Holmes, president David Haslett, associate general counsel Tom Palmiero, executive vice president Kevin McKamey and executive vice president of finance and operations Stephen Wagman “to obtain any and all documents in [their] possession related to the assets, liabilities and business operations of [Avantair].” This includes emails, written documents, phone records, personal bank records and individual tax returns, to name just a few. Scharrer has also subpoenaed Wells Fargo for Avantair’s bank records.
The article points to the the FAA recently issuing an emergency fleet suspension for most all Avantair aircraft.....no surprise, but when you read the FAA doc and their findings (some planes had over 80 issues) , it will send chills down your spine. Not only were the planes completely mishandled, but as we all now know, the FAA has confirmed that a large portion of the overly publicized 57 plane fleet has not flown for quite some time.
The report confirms all of our suspicions that Avantair was literally pulling parts off of planes, installing them on other planes, and not documenting anything.
The FAA also confirmed that the Oct/Nov shutdown was due to issues regarding time tracked parts and questionable maintenance records. Nothing was mentioned about checking the locking pins for the whole fleet as Mr Santo told the owners (I am sure this was an issue, but not THE issue the shutdown the fleet). And the June shutdown due to an mysterious call to an FAA hotline? Not so false as Santo led us all to believe - the FAA said it was again for questionable time tracked parts, maintenance records centered around aircraft "cannibalization".
It's one thing to discuss it on this board, and it's a whole lot more when you read an FAA report about it.
www.ainonline.com/aviation-news/ainalerts/2013-08-20/avantair-be-liquidated-trustee-tracking-down-assets
Most interesting is the following:
Avantair bankruptcy trustee Beth Ann Scharrer asked the court to authorize the examination of Avantair CEO Steven Santo, CFO Bret Holmes, president David Haslett, associate general counsel Tom Palmiero, executive vice president Kevin McKamey and executive vice president of finance and operations Stephen Wagman “to obtain any and all documents in [their] possession related to the assets, liabilities and business operations of [Avantair].” This includes emails, written documents, phone records, personal bank records and individual tax returns, to name just a few. Scharrer has also subpoenaed Wells Fargo for Avantair’s bank records.
The article points to the the FAA recently issuing an emergency fleet suspension for most all Avantair aircraft.....no surprise, but when you read the FAA doc and their findings (some planes had over 80 issues) , it will send chills down your spine. Not only were the planes completely mishandled, but as we all now know, the FAA has confirmed that a large portion of the overly publicized 57 plane fleet has not flown for quite some time.
The report confirms all of our suspicions that Avantair was literally pulling parts off of planes, installing them on other planes, and not documenting anything.
The FAA also confirmed that the Oct/Nov shutdown was due to issues regarding time tracked parts and questionable maintenance records. Nothing was mentioned about checking the locking pins for the whole fleet as Mr Santo told the owners (I am sure this was an issue, but not THE issue the shutdown the fleet). And the June shutdown due to an mysterious call to an FAA hotline? Not so false as Santo led us all to believe - the FAA said it was again for questionable time tracked parts, maintenance records centered around aircraft "cannibalization".
It's one thing to discuss it on this board, and it's a whole lot more when you read an FAA report about it.
