Global Airlines purchases 4 A380’s

[kelvedon]

Global Arline’s is a new UK start up which has purchased outright 4 ex Singapore A380’s, the first of which has already been delivered.
Apparently the airline is targeting the trans Atlantic routes first, from LGW, offering First, Business and Economy cabins.
Headed up by James Asquith and with an ex CAA director they plan to start services in the northern spring. They are backed by a number of investors including a member of the Al Maktoum family, Dubai’s rulers.

HFP has has an article detailing it here.

What's going on at Global Airlines, the new UK airline which bought 4 x A380s?

Last Thursday was the official launch party for the UK's newest airline, Global Airlines - the start-up which has just bought 4 x used A380 aircraft for cash.

www.headforpoints.com

 

[Mattg]

Here's another article on the subject:

Global Airlines pitch deck delivers questionable claims, fuzzy financials in advance of A380 fleet launch | PaxEx.Aero

Global Airlines is grabbing plenty of attention of late. But a review of its financial pitch deck from 2021 raises far more questions than it answers, especially around partnerships and basic math skills.

paxex.aero

I don't see this airline getting off the ground (pardon the pun).

 

[odysseus]

I don't see this airline getting off the ground (pardon the pun).

Agreed.

There's so much wrong with many of their claims. And it wouldn't be the first time someone has gotten financiers to lend money... but failed to complete operation of the venture.

 

[Skyring]

Maybe they see an angle nobody else does.

To my mind, it's a very risky venture. Presumably they are aiming to fly their used A380s at capacity as often as possible but if one of them goes tech and has a serious delay you are looking at not a lot of reserve to deal with it, especially if one of their four is in for maintenance. And maintenance where, precisely?

 

[Mattg]

Maybe they see an angle nobody else does.

They lost me when they said they would buy a used A380 for $4 million, refurbish it a cost of $4 million, and the plane would then be worth $60 million - without justifying how that could possibly be true.

It sounds to me like an investment scam more than a viable airline operation. Happy to be proven wrong, but I certainly won't be investing.

 

[Gold Member]

They lost me when they said they would buy a used A380 for $4 million, refurbish it a cost of $4 million, and the plane would then be worth $60 million - without justifying how that could possibly be true.

It sounds to me like an investment scam more than a viable airline operation. Happy to be proven wrong, but I certainly won't be investing.

Home Doer-upperers (renovations) “flip” houses for commercial gain in this manner. I can’t imagine they could ever plan or dream of a 10x ROI though.

Perhaps we need a new TV series for plane flippers. Maybe start small with, say, 4x A380s.

 

[docjames]

There are so many rubbery claims. There was also recently a farcical “press event” ostensibly announcing Amex priority purchase access (or similar) and “networking” afterwards, but at the event a refusal to take any queries on their business model, plans, questions about any arising issues, and then the airline executives vanished as soon as the announcement concluded.

The travel world would be a more interesting place if this “airline” can get off the ground, but it’s hard to see them ever making a revenue flight, let alone a profit.

 

[dajop]

Maybe this all belongs in another thread ..

Scams like these

Fresh scam to fleece: "Hello my good friend. How are you today? Hope all is well with you and your family?, You may not understand why this mail came to you. but if you do not remember me, you might have receive an email from me in the past regarding a mulch-million-dollar business proposal...

www.australianfrequentflyer.com.au

 

[docjames]

Haven’t seen it covered here, but looks like this group now dragging in (sorry, “partnering with”) HiFly to help them get it off the ground:

UK's Global Airlines partners with Hi Fly on A380 induction

Global Airlines has enlisted Hi Fly (5K, Beja), so far the only airline to have ever operated a second-hand A380-800, to assist in the British start-up's launch with the quadjet type. "The great news for us is that the team at Hi Fly know the A380 inside-out and will be invaluable in helping...

www.ch-aviation.com

 

[jb747]

Each engine is worth about $25 million, and they don't come with the airframes.