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I've sent an email off to the airport authority at KFLL asking for any information they can provide on the current status of Twin Air Calypso and the airport.
I will share whatever I get back.
Also just noticed that some of the information on the Twin Air Website has been removed, the passenger information page and reservation information have been removed.
There are still tabs or mail and freight.
http://www.flytwinair.com/
I checked the log for KFLL to Bahama locations, the only air carriers which have flown to any Bahama locations in recents weeks are:
Silver Air
Sky Bahamas
IBC Air
Avantair
GB Air
The last flight that I found for Twin Air was mid September.
If someone has other information please provide same, because this does not look good, since it's the one thing bringing revenue to AAVG.
Can anyone tell me with certainty the last time Twin Air flew? I can't find any flights within the past few weeks.
The problem being is that as Twin Air or Naples Connection, they CAN'T post schedules under DOT rules, they would need DOT Commuter Air Carrier approval for the posting of regularly scheduled flights.
We don't even know if he has a daily office which he goes to, could be sitting at home. Gamber never seems available for phone calls and doesn't return them, or emails. Up until early this year he always did return emails and take calls.
If I didn't live in the Northeast, I would have been knocking on their door long ago.
The entire AAVG organization leaves many questions. Does anyone else find it funny that AAVG is organized, buys Gambers business (Twin Air), Gamber then becomes CEO. All of the planes used were then leased through Gambers former partner, including planes that were not air-worthy at the time of lease, which they continue to pay lease on. Oh, the company leasing the planes to Twin Air, is only a paper company, their corporate headquarters address is a house in a residential neighborhood, which was formed about the time of the sale of Twin Air to AAVG. Really, who leases non-repairable, non-air-worthy planes at the same cost as the air-worthy planes?
When you start connecting all of the dots and relationships it can really start to answer many questions.
All in my own opinion.
I agree with Fish on most everything he said here. I'm just not sure if volume will ever come. I sold of most all of my shares after fins were not filed as promised. I bought back some on the Naples annoucement, but even that didn't bring volume.
As with all stock that I'm in I keep a running accounting of the Pro's and Con's of each. When I bought AAVG in 2011 the Pro's were many with very few Con's. That has now changed drastically, I'm hard press to come up with positives now, but the negatives seem endless.
I'll hold onto what I have into November, but then if there is no movement on Naples, I'm out of this for good.
IMO, CUBA Authority is out of the window for good and DOT is out until many things are corrected by the company.
Concerning the accumulation of this stock, it's been cheap enough where people are willing to hold in hopes it will come back to a level to make a dollar or two. The propblem with acculation is the fact that if things go south, it's many investors who will be scrambling to dump. With this same scenario, I've become a bagholder a few times.
They only have three planes left air-worthy, two leased and one on an agreement with Aztec Air. This was verified with Henry previously. There are no plans to refurish the grounded planes.
Henry stated directly that they would be leasing 208B Caravans, which are great planes, but costly.
Just did some checking on lease cost of a Cessna 208B Caravan, which is the plane slated for use for the Naples Connection, as verified to me by email from Henry about 8 weeks ago.
Checked on a 1985 Cessna 208B, the lease (three year lease) is,
Deposit $75,000.00, Monthly $15,000.00, there is also a $75.00 per flight hour fee. If flying to 4 new destinations, round trip, 4 times per week (as allowed by DOT Charter Rules), the per hour fee could add between 9 and $10K per month to the lease cost.
Thats just one older plane. It would really be nice to see a business plan here. I don't see how AAVG can pull this off without partnering with another entity.
I noticed a comment about the possibility of a merger or buyout by Berry. I think the time for a relationship with Barry has come and gone, IMO AAVG has burnt those bridge by their actions over the past 9 months. There is absolutely nothing that AAVG has that Berry needs or could possibly want at this point.
Lets not forget that we still have the SEC Demands that were ignored, what further action could that bring in the future? We also have not paid the DOT fines apparently, will DOT bring further action (poss the loss of Charter/Air Taxi Authorization) if not paid? Can't just keep ignoring these agencies without your world falling apart someday.
AAVG had the world by the b*lls last November, they had so many opportunities in front of them. They pissed everything away.
Someone should tell Henry, apparently he doesn't know!
The problem is, we can look at the finances for Twin Air and the Maint. Operation all day, it means nothing if AAVG is bleeding the small available profits to pay the heavy debt owed by them. They couldn't pay the auditor, couldn't pay the DOT fines, couldn't pay their storage unit rent, among other things.
I think the writing is pretty clearly on the wall, AAVG is in serious trouble and dragging Twin Air down in turn. They are grasping at straws for new ventures, but apparently very prematurely announcing these. IMO
If the Naples Connection is due to go off as planned, here's whats needed, that apparently has not been completed (or poss. even started).
As stated a new airlines Naples Connections would be based at Naples, which would be owned by Twin Air. Well there have been no filings to date found for a new company or airline under that name.
There has been no indication that the turbo jet planes which will be used have been leased or acquired.
After planes are leased, pilots must be trained and checked out on these planes.
FAA would need to approve the Naples Connection for air-worthiness.
AAVG is going to complete all this within a few weeks? Impossible! Another pipe dream to keep investors holding and buying.
Notice that Naples Municipal Airport has been silent on the matter recently? With fares and schedules to be released anytime you'd think they would have more information on their website, or further releases.
How long is being patient, one year, two? How many promises that never came to fruition? What is so diverse about AAVG? We are relying on Twin Air, a charter air taxi with a couple leased planes, which AAVG is sucking away the little profit they make because AAVG is all debt. Most important, why are they hiding AAVG financials, only giving a glimpse of unaudited Twin Air fins.
IMO
Hahaha....has the same ring to it as hiring the new auditor and filing the financials, we all know how they turned out!
Beginning of Jan 2012 was the last time that I had any response from Gamber.
Who is this? (Naples Air?), I thought that the Naples Connection was going to be unique for Naples Municipal Airport. Looks like Naples Air flys pretty much the same destinations as Naples Connection proposes.
http://www.naplesairinc.com/WordPress/
Hope your right about fuel prices dropping. With all of the new unrest and sabre rattling going on in the Middle East, I don't see that happening anytime soon. We haven't seen the reductions happen at the consumer level yet, which usually indicates speculation of renewed increases of crude costs. Also, devaluation of the dollar is having a negative effect on consumer prices.
I feel the real reason for fuel prices remaining high when oil prices are dropping is pretty simple; oil/gas companies see the opportunity to make record profits keeping gas prices high and even increasing. Why, because we pay the price, whatever it is!
IMO of course!
As a boater, I can tell you that an automotive GPS will not work in non-land (highway based) applications. The best it would do is point you to the nearest highway.
I've tried to use one of our car GPS units in our boat, just doesn't work, thats why they make special application GPS units, with the proper maps/software installed.
With that said, Twin Air's planes are older piston-engine planes, I've seen some inside photos, it doesn't seem that their instrumentation and avionics have been updated over the years, so who knows. But they must have whats required by FAA for instrumentation to fly IFR, I'm sure they are not flying to the Bahama's VRF!
I was reviewing their claimed Twin Air profit from Jan-June, which was 41K, seeing how much Avgas has increased since the first half of the year, most of that 41K profit would now go to the increased fuel prices. I'm guessing, that unless they raised their ticket prices or fuel surcharge, we will see reduced profits for the 2nd half.
With the turmoil in the Middle East, I don't see fuel prices dropping much, if at all.
Why is this not a surprise, Torrey Pines Marketing of Raleigh-Durham, NC has no Website, or even web reference, no phone number or address anywhere to be found. There are no business filings found with the NC Secretary of State for businesses under the owners name or Torrey Pines Marketing. Other than the Avstar release, Torrey Pines marketing seems like a non-exsistent business.
A Marketing firm without a web presence or phone number? Hope they market Twin Air, better than they market themselves.
Hopefully, someone can find something I'm missing.
OK, have to play devils advocate (because we need one)and ask a a few questions.
Per the press releases about Naples. There would be a new airline called Naples Connection, which is owned by Twin Air and it cited "Naples Connection CEO Clayton Gamber".
Has anyone seen filings creating this new airline, either through a corporation, LLC or DBA?, I can't find anything. Also, if a new airline is created, it would require FAA action for air worthiness, I find no filings searching their database, nor with DOT.
If they will start selling tickets soon, what name are they going to sell them under? When they sell tickets, what type of plane will they citing use of, since we haven't seen anything in the form of agreement or lease as Henry stated to me some time ago, well he actually said, "right now it's our plan to lease planes", that was in July. Had no response since then.
If someone has these answers please post them.
This guy should be in jail, there is not even a product you can buy. Stuck with this crap I guess, can't even sell out, no buyers. Can you say "bagholder".
Oh well, I should have know better way back when!!
My concern is here we are only a month away from supposedly kicking off at Naples, yet we've seen nothing in the way of aircraft lease to run those flights. No further info has been released since the original annoucement. We all know that this company has a history of making releases about future plans and then we hear nothing more and they just fade away into the sunset.
AAVG had some pretty hefty loans coming due this month, we've heard nothing about payment or if other arrangements have been made. A company no longer willing to release financial information usually has something to hide. It's my opinion, but it comes from a long history investing with these sub-penny stocks.
Lets just hope they can keep the couple older planes they have left in the air. They lose any of the Bahama flights and we are screwed.
Why is it everytime someone questions the company or it's management, the knee-jerk reaction by some members on this board is to tell them to sell if they don't like it. Well thats a childish reaction, everyone is entitled to their opinion here. I didn't see anything when signing onto IHUB that said, "Positive comments only".
Many of us have been in contact with this management team for a year or better now. We have been mislead before, there are still many questions we had this company never addressed. Some of us are not as confident that the company is being totally truthful now. Stockholders remain in the dark in relation to this company's financial health and operation, so yes, I'm always open to hear other opinions....good or bad.
Bottom line, this is a tiny charter air carrier, flying a couple leased planes and they are struggling to stay afloat and develop new business. We all know things could go either way....we all just hope the chips fall in the right direction.
I think you'll find that the DOT response will be that anything required to be released by a FOIL is contain in the Docket which is already posted. Any on-going investigation for the application process does not fall under the Freedom of Information Laws.
Here's right from the DOT Rules....
"No person shall provide scheduled passenger service as a commuter air carrier at an eligible place unless it has been found by the Department to be fit, willing, and able to conduct such service and issued a Commuter Air Carrier Authorization as provided in subpart E of this part."
From what I'm told, that means that, as a Charter/Air Taxi service, they can't post a regular schedule. Example, they can't post that they will fly to Tampa every Mon, Wed, Sat...that would constitute a regular schedule. However, IMO they could indicate that they would be flying a Charter to Tampa on Mon @ 9AM, as a one time charter flight. They would need to repeat this for each flight.
Twin Air got dinged before for over-flights and posting a schedule.
AAVG
Once DOT approval comes they can post a schedule, until that time they would be in violation of DOT rules for Charter Service to post any type of schedule. They can only operate as "on demand" until that time.
I hope so, I'm hanging onto those I bought back a few months ago, but won't too much longer. Been with AAVG quite a while now. AAVG has never responded heavily to news, but hope positive news comes without management making further mis-steps along the way.
Revenues are important, but they mean little without knowing current expenses. If revenues are flat and expenses are up, it's not a great scenario. The company has only hinted of revenues, has not released anything about expenses.
But then I'm only pointing out the obvious..
Yeah, right....and an auditor should be hired, FINS should be out, SEC demands should be answered, invisible person hired to get DOT approval should be on board, Berry Deal should be finalized....oh yes 6 months ago Cuba Authority was in the final stages of approval, must have been the pre-pre final stages!
Nothing this company has says, ever comes true. Smoke and Mirrors.
How can we believe a company who out-and-out lied to investors about hiring a auditor and doing the FINS. Thats a proven! They never had intentions of either.
It's not buying thats the issue, the issue is selling those that you bought if this company doesn't turn things around, who will buy your shares?, right now government approvals are not looking very promising, it's been 9 months since the DOT's last correspondence with Twin Air about the application. No word on Cuba authority since last fall.
I still hold two of these "promising companies" which never materialized. Now sitting at .0001-.0002 and can't dump a single share for months, everyone trying to sell, no one buying.
Without something significant happening here, I'll probably end up holding three of these bagholders! JIMO
Not looking for "fluff" but just an update...
September rolling around with no updates, no Show Cause from DOT, no FINS...ASK is increasing, people becoming discouraged again. This company need to learn how to keep investors interested in their product....
Company really needs to give investors a reason to buy. Silence is deadly in Pennyland.
Seeing that DOT is concerned with all aspects of company operations and company health, it could be another reason for them to hold things up. There is a Robert Charette who is a commercial pilot, but unknown if it's the same guy. Maybe when BG comes on here he could find the case details, he seems to have better access to these things.
If anyone emails Henry, maybe you can ask about this Federal Lawsuit. The section cited normally involves failure to pay employees.
This likely won't help their cause with DOT...
So glad I put more money back into this....should have know.
_________________________________________________________
Charrette v. Twin Air Calypso Limited, Inc. et al
Plaintiff: Robert Charette
Defendants: Twin Air Calypso Limited, Inc., Clayton Gamber and Henry A. Schulle
Case Number: 0:2012cv61461
Filed: July 23, 2012
Court: Florida Southern District Court
Office: Fort Lauderdale Office
County: Broward
Presiding Judge: William P. Dimitrouleas
Referring Judge: Lurana S. Snow
Nature of Suit: Labor - Fair Labor Standards Act
Cause: 29:0201 Fair Labor Standards Act
Jurisdiction: Federal Question
Jury Demanded By: Plaintiff
We do need to hear how they plan to post schedules, are they anticipating DOT approval before that time? If they start at naples, they may need to start with Air Charter service only. They also need additional plane(s) to run Naples and/or any new routes, Henry indicated in an email to me that they would "likely" lease, but we haven't heard anything further.
It seems like the company always throws these initiatives out there, we hear nothing more and they just kind of fizzle away.
Avstar also has loans coming due for payment in September, it would be nice to hear if these have been deferred, or if Avstar is able to make the payments.
Not negative, just reality.
But approval usually comes 30 or so days if no one objects, I've seen one or two approvals in as little as 20-30 days following the Show Cause...
That all hinges on DOT approval, they can't post any schedule without the Commuter Airline Status approval. We haven't even seen the Show Cause Order which always is at least 30-45 days before approval, barring anyone objecting.
Minus a nice percentage for Uncle Sam!!!
Been kinda quiet around here. Everyone holding, no real selling which is a good thing. Hopefully Avstar is quietly working to make things happen.
AAVG