VJET - FAA Approval Message Board

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Non-Tech : VJET - FAA Approval

VJET 0.640

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Apr 1 5:00 PM EST

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To: Marco Polo who wrote (135)	10/23/1996 7:49:00 PM
From: Jim Walker	of 164

Well done, Ben. The Reuters story dated 10/22 that indicates Kiwi has picked up 5 milliion in "debtor-in-possession" financing to sustain them while they look for other financing may have some impact on VJET's future. But the bankruptcy judge wants to see both principal parties 10/31 for a clearer declaration of intent, meaning there is pressure for a concrete resolution, possibly unlikely in terms of Kiwi's returning to operations. Since the Wasatch Group that came up with the money is involved with a cruise line, they may have some separate angle in mind. Meanwhile flights remain suspended and Kiwi's 15 planes are on the ground. Their payroll has been slashed more than 90% since they were at peak operations. I don't know if VJET will come back to the levels where you see it as a buy, but if competitors are already biting the dust, then prospects for 30-50% recovery from present stock levels look even better over the next 12 months or so. They do need to jack those introductory fares up to more profitable territory fairly quickly, especially with the projected loss for the next couple of quarters.

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