Yet another one bites the dust: EOS are gone.

EOS last night announced that it has suspended all operations and filled for chapter 11 bankruptcy. http://eosairlines.com/

Very sad news for all those that work for the airline and those who are stranded.

The legacy carriers must be breathing a sigh of relief, whilst MAXjet was more PE than first, EOS was a true business class airline and was by all accounts making real progress against the legacies.

Of course this will send analysts crazy wondering how long Silverjet can survive. Interestingly though, Silverjet has been able to raise some capital, when everyone in the market place is unable to. Maybe, just maybe, Silverjet will be able to live on, as they now have three times the amount of passengers to serve, presuming none jump ship back to BA, VS et al.

[RichardMannion]

Really is not a great time to be an airline - last thing you need with oil prices is staff demanding more....

I did notice that MaxJet is back for charter.

I wonder what the CEO of Silverjet is thinking at this time?
More customers they can mop up, or they'll be next.....

Originally posted by Wolves27
I wonder what the CEO of Silverjet is thinking at this time?
More customers they can mop up, or they'll be next.....

Thing is, it's a chicken and egg situation: I would be less inclined to book Silverjet in case the rug is pulled from under my feet.

H

[ChuckC]

The letter from the senior management team was a poignant reminder of the tough times we face. I do wonder why governments around the world are not raising much of a public fuss with OPEC, but that's probably for an 'Off Topic' discussion.

Aside from the good competition for the legacy carriers, was EOS worth saving?

Chuck-

From a blog I read daily - a man who was looking forward to Open Skies bringing down the trans-atlantic costs of travel. Oh well ... link

[Pete]

[url=/pages.asp?click=250&pageid=250]Press release just in[/url] - Virgin are offering a £799 one-way Upper Class fare for stranded EOS ticket holders.

Originally posted by ChuckC
The letter from the senior management team was a poignant reminder of the tough times we face. I do wonder why governments around the world are not raising much of a public fuss with OPEC, but that's probably for an 'Off Topic' discussion.

Aside from the good competition for the legacy carriers, was EOS worth saving?

Chuck-

Unfortunately Chuck, while OPEC might raise production, we have other things to aim our arrows at:

- George Bush for allowing the Dollar to devalue so much and selling the US's debt to sovereign funds and foreign governments creating an ever continuing spiral of devaluation
- totally inability to be fuel efficient in many countries (not least the US and Europe)
- rampant increase in demand from fast growing economies like China and India
- financial traders who seem to take joy in driving the cost of oil higher and higher
- total self interest of countries like Russia who see all the cash flowing in

On Virgin's offer to Eos passengers - what a slap in the face for existing customers who have maintained their loyalty.

[ChuckC]

Very good comments, Slinky; thank you.

Chuck-

Some good news for a change: Silverjet seem to have gained finance agreement.

Press release

Originally posted by Bill S
Some good news for a change: Silverjet seem to have gained finance agreement.

Press release

Excellent news. And as I said in an earlier post, its pretty tough to gain any kind of finance at the moment. Silverjet clearly must be in an encouraging position for any investor.

[mcmbenjamin]

Looks like AmEx forgot to take this off advert section my statement issued today:

By removing the crowds, Eos Airlines has helped transform
transatlantic travel. You have plenty of freedom to relax and enjoy
the trip. Travel between New York and London on 757s outfitted for
just 48 Guests. Eos offers up to 44 flights per week between New
York's JFK Airport and London's Stansted Airport. Experience Eos
Airlines on your next flight to London.