Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Looks like someone’s put their full isa allowance in here today. Time for liftoff !!!
Leaving it very late for results again, after postponing from last month. Bunch of useless amateurs.
Wouod love to see Marwan Khalek humiliated out of the company. Shame unlikely to happen dur to his holdings.
Marwan, Daniel and Simon should be holding their head in shame.
Bloody useless gang who keep awarding themselves freebies.
£48k dumped last week at 32p, well below bid. Leaky bastards.
I wish i knew more myself lol
Tell us more, Doctor
Results and outlook leaked already.
Freebies confetti
Let's hope this is the start of the recovery (about time!). If management can actually deliver here on the obvious rebound as COVID-19 recedes - in the UK at least post-vaccinations - the there could just be serious upside.
WH Ireland, useless broker, waste of time :)
4: Jet East MRO, our desire to grow in the US.
Our purchase of the Jet East MRO business in the US was a demonstration of our strategy, a re-iteration of the cautious optimism we see in the sector, and a reflection of the sectors resilience to this health crisis. It is essential to our continued success to grow and develop our MRO offering in the US, the world’s largest business aviation market. We are proud of the support we have offered to our clients in that market, and the integral role that we play within their operations, particularly in the safe reduction of unnecessary aircraft downtime, however we aim to do more. The Jet East acquisition allows us to grow our coverage. and capabilities to provide our clients with an efficient and effective single source supplier of MRO services.
5: Future expansion.
Marwan confirmed that the Group are always active in the market, and that has not changed as all our new SBUs are open to development but the opportunities must be correct on many fronts. This particularly applied to cultural and operational fit, as well as the more prosaic requirements of financial stature, operational overlap, etc.. The quote Marwan used was ‘one and one must make more than two’, if that is the case then the Group will vigorously pursue new opportunities that enable our clients to deliver a decisive advantage to their own customers.
As part of Day 2, and the discussions at CJI London 2021 on Charter, Operating and Managing Aircraft, our CEO, Marwan Khalek spoke with Alasdair Whyte of CJI, about his thoughts on the business aviation sector and the signs of some cautious optimism going into the late summer of this year. Also, how our recent SBU restructure helps us prepare for the times ahead as we hopefully move out, as the vaccines take effect, of the health crisis and start to confirm how the business aviation landscape has altered.
The top 5 themes as Marwan saw them going forward were;
1: Future optimism.
There was cautious optimism within the sector, as highlighted by recent investment in the markets (Wheels Up & Signature), that the business aviation sector is expecting to be a point of growth. There was a recognition that business aviation could be seen as an increasingly viable alternative beyond the wealthiest 1%. While the airline volumes may be slower to regain previous levels, Marwan believed business aviation would see an increase in volumes more quickly, due to the greater safety, flexibility and freedom, and the pent up demand to travel that has been generated as a consequence of multiple lockdowns and travel restrictions.
2: Aircraft management changes.
He thought there had been a polarisation within the aircraft management market between pure ‘sole use’ management (where the aircraft was managed and maintained for the client and client only) and those who occasionally utilised their asset for private/personal use whilst endeavouring to maximise the charter return and revenue generation of the aircraft.
3: A drive for efficiencies.
Another predominant theme was the drive that Marwan expects by all within the sector for efficiencies and improving how operators deliver their businesses effectively. He believes our re-organisation into three new, dedicated, business units of Business Aviation, Special Mission and Technology & Outsourcing allows us to really focus down on the specific demands of each sector. The investment we have made both organisationally and in terms of team’s structure will significantly benefit us in the future. It was also noted that one of the driving ambitions in our investment in our Technology and Outsourcing business unit and in particular the myairops software suite was the need to develop a software platform that enhances the way the industry operates. Marwan confirmed our commitment for future investment in the Technology and Outsourcing market offering, to significantly improve how the sector operates, how it utilises data with a recognition that working practices have changed and will continue to change moving forward.
Hey MCCO, sorry to hear about the loss. May be worth getting in touch with the CFO.
I bought in just over 3 years ago at 2.37, so am now at a loss of over 80%. Whilst there was an accounting error since (auditors sued?) and then Simon To took a substantial holding, nothing much seems to have happened. Whilst commercial airlines have taken a hounding with COVID, I would have thought that private contractors would be busy, if not as people carriers, if properly marketed. We must be valued at a significant discount to our asset value?
400,000 shares sold on Friday pm
I wish I had an idea of what's going on
Freebies galore.
Share price at almos all time low - does the CFO deserve the freebies?
Positive trading updste at AIR. Read across to GMAA.
Being offered 44p to sell, well above the bid.
Bit of buying pressure should start a rerate to 100p
OK, Alliance News release a few minutes ago:
(Alliance News) - Gama Aviation PLC on Friday announced its US subsidiary Gama Aviation Engineering Inc has acquired Trenton, New Jersey-based Jet East Aviation from East Coast Aviation LLC for USD7.7 million.
The Farnborough, England-based business aviation service provider said its subsidiary will pay USD7.7 million upfront from its existing resources, with a further USD1 million in deferred cash payable over two years. It also will assume USD3.2 million of business aviation aircraft maintenance provider Jet East's debt.
Gama Aviation said the acquisition will "substantially" enhance its already extensive maintenance capability within the US, capturing "further market share with 15,000 active business aviation aircraft."
"This strategically important acquisition enlarges and strengthens our presence in the US, the world's largest business aviation market. The combined business will also be well positioned to benefit from the inevitable recovery in US business aviation activity once the pandemic impact subsides. This is a deal that enhances our service offering to our clients, is anticipated to be value accretive to our shareholders and will provide opportunity for our people," said Chief Executive Marwan Khalek.
..... Not sure what I think of it. Cost US$11.2 million. Loss making?
Why can't I see the RNS? Had to go to the website to find this (which is long on froth and short on details, like how much did it cost?).
https://www.gamaaviation.com/news/business-aviation/gama-aviation-acquires-jet-east/
But I'm glad to see they're active.
Literally no shares available to buy online. Xould easily double or triple from these levels. Used to trade above 300p
The acquisition will substantially enhance the Group's already extensive maintenance capability within the US, capturing further market share in the world's most valuable business aviation market with circa 15,000 active business aviation aircraft. The enlarged business will provide unparalleled coast-to-coast coverage and capability that will enhance its service offering to the market and significantly strengthen its trading relationships with key customers.
NT to buy online.
There is interest in the sector, as evidenced by the Signature Aviation takeover discussions.
Private equity keen to be involved.
Proper identity of Rozzi still unknown.
I wonder if Simon To is considering taking it private?