google.com, pub-6370463716499017, DIRECT, f08c47fec0942fa0 AlfaBloggers Best Bloggers Team Of Asia

Tuesday, 23 October 2012

Captain Albert Ueltschi Pilot who founded FlightSafety , has died. at 95.






Albert Ueltschi, a Pilot who founded Biggest Aviation Training company FlightSafety in 1951, expanded it into an international powerhouse and sold it to Warren Buffett for $1.5 billion, has died. He was 95.

He died on Oct. 18 at his home in Vero Beach, Florida, according to a statement from the company. No cause was given.

As pilot of Pan American’s first corporate plane -- his regular passenger was company founder Juan Trippe -- Ueltschi hit upon the idea of opening a testing and training center for the booming aviation industry in the 1950s.

That company today is FlightSafety International Inc., which bills itself as the world’s leading aviation-training company, teaching pilots, aviation mechanics, flight attendants, dispatchers and others each year.

Based at New York’s LaGuardia Airport, the company runs training centers and flight simulators at more than 40 locations in the U.S., Canada, France and the U.K., according to its website.

The 1996 purchase of the company by Buffett’s Berkshire Hathaway Inc. (A) culminated Ueltschi’s rise from Kentucky farm boy to the ranks of the world’s wealthiest. Forbes magazine estimated his net worth to be $2.1 billion in September.

Buffett’s Praise
Ueltschi stayed on as FlightSafety president after the Buffett purchase until 2003, then served as chairman.

“The first question I always ask myself about somebody in his position is, do they love the money or do they love the business?” Buffett was quoted in Aviation International News in 1999. “But with Al, the money is totally secondary. He loves the business, and that’s what I need.”

Albert Lee Ueltschi (pronounced YULE-chee) was born on May 15, 1917, on a dairy farm near Frankfort, Kentucky, the youngest of seven children. His father’s parents had settled in the state after emigrating from Switzerland.

Aviation, still in its infancy, captured his attention. He recalled listening, at 10, to radio reports on Charles Lindbergh’s pioneering trans-Atlantic flight.

“There was no question in my mind that I would be a pilot, just like Lindbergh,” he said in a 1997 memoir posted on the company’s website. “I was certain of it.”

‘Fool Kid’
After graduating from high school in 1934, he opened a hamburger stand and used the proceeds to take flying lessons. A year later he borrowed $3,500 to buy an open-cockpit bi-wing airplane, the Waco 10, and made it his next business venture.

“I took people up for a dollar a hop, gave lessons, and even put on air shows. Folks came out to see if the fool kid would kill himself, and like a fool, on several occasions I almost obliged.”

He became chief pilot for Queen City Flying Services in Cincinnati, then signed on with Pan American World Airways. In 1943 he was tapped to fly the twin-engine propeller plane that Pan Am had outfitted to transport Trippe, its founder and president. Ueltschi would hold the job for 26 years, flying the occasional celebrity and learning the business by listening to Trippe make deals.

As more and more companies bought airplanes to serve their top executives, he “began to see possibilities that no one else was able to see at the time,” Robert P. Miles wrote in “The Warren Buffett CEO,” a 2001 book that included a chapter on Ueltschi.

Mortgaged Home
Many of the new corporate pilots were skilled veterans of the Navy or Army Air Corps, Miles wrote, and “once they left the military and began flying corporate jets, their training essentially came to an end.”

So in 1951, Ueltschi borrowed $15,000 by mortgaging his house and opened FlightSafety at LaGuardia’s Marine Air Terminal.

He said Trippe acted as the new company’s “ambassador to the Fortune 500,” urging his CEO friends to send their pilots to the company for training.

In 1954, with money from corporate clients including Eastman Kodak Co. and Coca-Cola Co., FlightSafety bought its first modern flight simulator.

Ueltschi took the company public in 1968 and retired from Pan Am so he could lead it full-time.

He was just shy of 80, and mulling the company’s future, when Buffett invited him to lunch in New York City in 1996. Though Buffett had sent his pilots to FlightSafety for training, it was the first meeting of the two men.

Took Stock
After hamburgers and cherry Cokes, the two men shook hands on a $1.5 billion deal to make FlightSafety an independent unit of Berkshire Hathaway. Ueltschi, whose family owned 37 percent of FlightSafety, chose to take payments in Berkshire stock, which almost tripled in value over the next decade.

“Al was a great visionary who had a profound and positive impact on generations of aviation enthusiasts and professionals,” Bruce Whitman, FlightSafety’s president and chief executive officer, said in a statement on the company’s website.

Ueltschi was a leader of Orbis International, a nonprofit organization that flies a specially outfitted airliner around the world to teach sight-saving surgical procedures. Last month he signed “The Giving Pledge,” an initiative started in 2010 by Buffett and Bill and Melinda Gates to encourage the richest Americans to commit to giving away at least 50 percent of their wealth.

In his pledge, Ueltschi wrote, “My share will be contributed to helping the least advantaged people in the world lead healthy and productive lives through medical innovation.”

He was predeceased by his wife, Eileen, whom he married in 1944. They had four children.



Best GolGappa, Asias Best B2B Portal, Pani Puri, Pani Poori ...

www.golgapppa.com
Asias Best b2b portal, GolGappa, Pani Puri, Pani Poori,recipes,instructions, ingredients,golgapppa


Welcome to AeroSoftSEO - AeroSoft Corp | Best Aviation SEO ...

www.aerosoftseo.com
Mission Vision Passion DBA JHR; B2B B2C OJT Blog FAQ; Search Vender Term Resources; Welcome to AeroSoftSEO. AeroSoft Corp is a very small sized newly establishing ...




By at No comments:
Labels: ,

Monday, 22 October 2012

U.S. Virgin Islands have recovered a body inside the wreckage of a small plane found on the ocean floor.


CHARLOTTE AMALIE, U.S. Virgin Islands (AP) Crews in the U.S. Virgin Islands have recovered a body inside the wreckage of a small plane found on the ocean floor.

The U.S. Virgin Islands government says the identity of the passenger recovered Saturday will not be publicly identified until relatives can be notified.

The Piper PA-23-250 plane went down a week ago off St. Thomas with four people aboard. One passenger survived the sea crash.

Authorities say the plane had been delivering newspapers to the island of St. Croix and was returning to St. Thomas after picking up passengers.

The U.S. Coast Guard suspended its search on Monday.

The islands' government says divers located the wreckage at a depth of 100 feet. One body was found inside the plane. The wreckage was towed back to St. Thomas.

2 NY men killed in small plane crash identified
Wall Street Journal
Associated Press. FIRE ISLAND, N.Y. — Authorities have identified two New York men who were killed after a small plane crashed into an inlet on Long Island. Suffolk County police on Sunday said the men were 51-year-old Cyril McLavin, of Fresh Meadows ...
See all stories on this topic »
Plane Instructor Saved Lives in Mansfield Plane Crash
Patch.com
Authorities were on-scene near the Mansfield Municipal Airport Sunday afternoon after responding to a small airplane crash involving a student pilot and an instructor. Mansfield Police received a call at 1:18 p.m. Sunday reporting that a 1968 Cessna ...
See all stories on this topic »
Cops: Moriches plane crash victims from Queens
Newsday
Authorities have identified the two men who were killed in Saturday's plane crash in Moriches as Queens residents. They are Cyril McLavin, 51, of Fresh Meadows, and Andrew Messana, 72, of Bayside, according to the Suffolk County Police Department,...
See all stories on this topic »
Newsday
Small plane crashes in Long Island inlet, 2 dead
Boston.com
FIRE ISLAND, N.Y. (AP) — A small plane crashed Saturday into an inlet on Long Island's Atlantic Coast, killing two men who were trapped in the sunken aircraft, officials said. The aircraft went down around 3 p.m. in Moriches inlet, near the eastern ...
See all stories on this topic »
10 years after plane crash, Wellstone loss still felt
Duluth News Tribune
A decade after the tragic plane crash near Eveleth that took the life of Sen. Paul Wellstone, Northland residents who knew him remain hopeful that another Wellstone-like figure will surface in Minnesota: someone with the rare combination of principle ...
See all stories on this topic »
2 uninjured after small plane crashes near Mansfield Airport
Boston Herald
MANSFIELD - Massachusetts state police say two people escaped injury after their small plane crashed near Mansfield Airport in the southeastern part of the state. Troopers say Mansfield firefighters worked to free the plane and its two occupants from ...
See all stories on this topic »
Plane Crash in Union County
WBTV
A small plane that took off from Goose Creek Airport in Union County crashed... minutes later on the Highway. The Union County Sheriff's Department says nobody was hurt. The owner of Pressley Aviation, Lieghton Pressley, said the pilot had just rented ...
See all stories on this topic »
USVI crews recover body from small plane crash
WSAV-TV
The Piper PA-23-250 plane went down a week ago off St. Thomas with four people aboard. One passenger survived the sea crash. Authorities say the plane had been delivering newspapers to the island of St. Croix and was returning to St. Thomas after ...
See all stories on this topic »
Flight Prepares For A Smooth Landing in Theaters
Poptimal.com
A dramatic plane crash. An alcoholic pilot. A recovering heroin addict. Tough corporate lawyers. Government investigators. And a quest to discover and/or hide the truth. These are the elements that make up Flight, the highly anticipated new film from...
See all stories on this topic »
Poptimal.com
Teams to train for Lough Foyle plane crash emergency
Belfast Telegraph
Emergency workers in the north west are preparing for the nightmare scenario of a plane crashlanding in Lough Foyle. Planes landing at the City of Derry Airport make their descent over the lough and the unlikely possibility of a ditching will be ...
See all stories on this topic »

By at No comments:
Labels:

Kingfisher Airlines offers to pay three months' salaries

Mumbai: Even as aviation minister Ajit Singh told NDTV that it was "'unrealistic" to expect Kingfisher Airline to fly again, talks with between the troubled carrier's management and employees ended inconclusively this evening. "Kingfisher has taken its employees for a ride," Mr Singh told NDTV. (Unrealistic to expect Kingfisher to fly again, says Ajit Singh)

 The management has offered to pay salaries for three months, in a staggered manner, over October and November and has given the employees till Thursday to get revert. But the employees refused the offer so far. They are demanding that at least four months' salary be given to them for them to consider returning to work.Pilots as well as engineers were part of this meeting. (Kingfisher crisis: Top 10 Developments)

 "We have talked about there being three (months') salaries to be paid before Diwali. We will know the logistics, but the intention is everyone should be back at work in a day or two," Aggarwal told reporters."We expect employees will be at work by October 26," he said.
Kingfisher Airlines' licence suspended by aviation regulator

 While Mr Aggarwal seemed confident that most employees will return to work, a section of the workers remain equally adamant. "So many times in the previous times, you haven't kept by your word. How do we trust that you will give our dues? Give us four months salaries, that was our demand, we will come and resume the work," said SC Mishra, the spokesperson for the engineers in the airline. "One employee's wife has already committed suicide due to sheer pressure. How many dead bodies do you want to see?," he said.

 What could create a problem for the employees on strike is that there seems to be a split between the pilots and the rest of the staff. Sources within Kingfisher told NDTV that at least 80 per cent employees are unhappy with the management's offer, but if there is a split, then they might have to give in to the pressure. Employees are likely to meet the management again tomorrow for  a "final offer".

 Kingfisher's licence was suspended on Saturday after it failed to address the civil aviation regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. The carrier is seven months behind on salary payment.

 Today's meeting was the first one between the two sides after Kingfisher Airlines' licence was suspended on Saturday after it failed to address airline regulator Dirctorate General of Civil Aviation's concerns about its operations, forcing the debt-laden carrier to stop taking bookings.

 Controlled by Vijay Mallya - the self-styled "King of Good Times" - and seven months behind on salary payments among other missed bills, Kingfisher's fleet has been grounded since the start of the month when a staff protest turned violent. The airline, which has never made a profit since being founded in 2004 and reeling under $1.4 billion of debt, will have its licence reinstated if it provides a plan that satisfies the Directorate General of Civil Aviation.

 The company's steep decline has underlined the problems of operating in India's airline sector, where players grappling with rising fuel costs face aggressive pricing caused by overcapacity.

 The suspension signalled the regulator's lack of patience with Kingfisher after months of cancelled flights and staff walkouts, and marked a rare tough stance by the government against a high-profile corporate. "The actual position is not changed because of this order," Kingfisher said in a statement. "We have, in any case, always maintained that once the issues with the employees are resolved, we will first present our resumption plan to DGCA for review, before resuming operations".

 Mr Mallya, a liquor baron who owns a Formula 1 motor-racing team, is famous for lavish parties at his $16 million beachside villa in Goa and also his company's annual swimsuit calendar.

 The licence suspension, until further notice, was announced by Arun Mishra, director general at the DGCA.The move had been widely expected after Kingfisher failed to respond properly to queries from the regulator regarding its ability to provide a "safe, efficient and reliable service".

 "The suspension of Kingfisher's licence is unfortunate but not unexpected," Amber Dubey, director, aerospace and defence at KPMG India, said in a statement. "Kingfisher's ability to bounce back from this situation appears challenging."

 Kingfisher's troubles will likely help rivals such as Indigo and SpiceJet  by lowering capacity on key routes. The airline had said on Friday it expected to begin flying again on November 6 if the government approved its plan to resume operations. The Centre for Asia Pacific Aviation has said a fully funded turnaround for Kingfisher would cost at least $1 billion.





Kingfisher Airlines offers to pay three months' salaries
NDTV
Mumbai: Even as aviation minister Ajit Singh told NDTV that it was "'unrealistic" to expect Kingfisher Airline to fly again, talks with between the troubled carrier's management and employees ended inconclusively this evening. "Kingfisher has taken its ...
See all stories on this topic »
NDTV
U.K. May Seek to Close Loophole on Aviation Carbon Conversion
Bloomberg
The U.K. may consider seeking to close a loophole that allows buyers of aviation-only carbon allowances to convert them to permits that can by used by factories and power stations starting next year. “The U.K.'s position on this currently is that we ...
See all stories on this topic »
GE Aviation tests new engine core
UPI.com
GE Aviation said the core, together with an adaptive low pressure spool, will improve an engine's fuel efficiency 25 percent, increase operating range 30 percent and boost engine thrust as much as 10 percent. "The ADVENT engine is a revolutionary ...
See all stories on this topic »
Albert Ueltschi, Pilot, Billionaire, Buffett Cohort, Dies at 95
San Francisco Chronicle
Oct. 22 (Bloomberg) -- Albert Ueltschi, a pilot who founded aviation-training company FlightSafety in 1951, expanded it into an international powerhouse and sold it to Warren Buffett for $1.5 billion, has died. He was 95. He died on Oct. 18, according ...
See all stories on this topic »
Aviation ministry, FAAN in another concession scandal
BusinessDay
Bi-Courtney Aviation Services Limited, owners and operators of the MMA2 Terminal, Lagos airport, is claiming that GAT is part of the portion of the local wing of the Lagos airport concessioned to it five years ago. Court orders restraining the ministry ...
See all stories on this topic »
Aviation committee resigns, CAPS Continues to aim high
UVU Review
The recent creation and christening of the new College of Aviation and Public Services was muddled in controversy and political rhetoric as a recent regime change ended in the resignation of all but oneAviation Science Endowment Committee member.
See all stories on this topic »
Oil ministry rejects Aviation ministry demand to include ATF under PNGRB
NDTV
New Delhi: In what could be a setback for airlines reeling under losses, the oil ministry has rejected the demand of the Civil Aviation ministry to include Aviation Turbine Fuel or ATF under the regulatory regime of Petroleum and Natural Gas Regulatory ...
See all stories on this topic »
Strong interest from aviation community on centre of excellence
Channel News Asia
SINGAPORE: The Civil Aviation Authority of Singapore has received strong interest from organisations across the aviation community since the announcement to develop Singapore as a Centre of Excellence for Air Traffic Management (ATM).
See all stories on this topic »

By at No comments:
Labels: , , , , ,

Kingfisher Airlines employees to meet Management



Striking employees of Kingfisher Airlines Sunday said they will meet the management to find a solution to the 20-day strike that has crippled operations and led the Directorate General of Civil Aviation (DGCA) to suspend the carrier's licence.
"We will hold a meeting with the management tomorrow (Monday) in Mumbai. We also want the airline to start operations and to become viable again," a senior official who is on strike told IANS in New Delhi.
"We will consider any offer presented by the airline which is logical and meets the minimum criteria of our demands," the official added.
Nearly, 6,500 employees of the airline face the possibility of losing their jobs if the airline continues to be in a state of lockout, which has been extended till Oct 23.
The average monthly wage bill of the airline is said to be around Rs.21 crore.
The employees went on a flash strike Oct 1 demanding payment of their salaries by by Oct 5, which have been pending since March.
They also claimed that non-payment of salaries has affected their morale and built up stress levels that can also affect operational safety.
Key personnel like aircraft maintenance engineers, whose airworthiness clearance is mandatory for any flight to take off, also struck work.
Civil Aviation Minister Ajit Singh said Saturday: "If they are not able to provide any concrete revival plans on how to restart operations and to pay their employees, then the DGCA may cancel their licence."
Singh's comments came after the DGCA suspended the airline's operating licence, citing its inability to provide any reasonable revival plans.
The airline Friday extended till Oct 23 the lockout declared Oct 1 after negotiations with striking employees failed.
The airline had the lowest market share in September, which stood at 3.5 percent. The airline has a total debt of Rs.7,000 crore from a consortium of banks.
Bankers are scheduled to hold a meeting Monday to decide on the fate of their exposure to Kingfisher Airlines. If they decide on writing off bad debt owed by the airline, it may have a negative impact on their quarterly performance and will also affect the scrip price in the equities market.
According to a report by the Centre for Asia Pacific Aviation (CAPA), Kingfisher Airlines may have to shut down operations if $600 million is not infused in it in the next two months.
The company reported a net loss of Rs.650.78 crore ($117 million) for the quarter ended June 30.
Currently, the airline has only 10 operational aircraft from a strength of around 66 planes a year ago. It was also the country's second largest airline by passenger traffic.
The company's scrip at the Bombay Stock Exchange (BSE) on Friday closed 4.58 percent down and stood at Rs.11.45 from its previous close at Rs.12.







Kingfisher Airlines employees to meet management
New York Daily News
New Delhi/Mumbai, Oct 21 — Striking employees of Kingfisher Airlines Sunday said they will meet the management to find a solution to the 20-day strike that has crippled operations and led the Directorate General of Civil Aviation (DGCA) to suspend the ...
See all stories on this topic »
Kingfisher Airlines stops bookings, hopes to re-start operations soon
IBNLive
Troubled Kingfisher airlines, whose flying licence was suspended by the DGCA, on Saturday night said it has stopped taking booking of tickets till it resumes operations. "We are now immediately suspending all forward bookings till such time we resume ...
See all stories on this topic »
Photo gallery: India's Kingfisher Airlines has its wings clipped
Straits Times
An Indian customer service representative stands inside the closed window of a Kingfisher Airlines booking counter at the airport in New Delhi on Oct 20, 2012. The flying licence of India's KingfisherAirlines was suspended after the debt-laden carrier ...
See all stories on this topic »
India suspends Kingfisher licence
Financial Times
Indian aviation authorities have suspended the licence of struggling Kingfisher Airlines, nearly three weeks after the carrier was forced to cancel its own operations due to a revolt by staff. The director-general of civil aviation said the licence ...
See all stories on this topic »
India Suspends Kingfisher's License
Airwise
Kingfisher Airlines' license was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. Controlled by Vijay Mallya - the self-styled 'King of Good ...
See all stories on this topic »
India- Kingfisher Airlines licence suspended, halts all bookings
MENAFN.COM
(MENAFN - Arab Times) Kingfisher Airline's licence was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. Controlled by Vijay Mallya - the self ...
See all stories on this topic »
Kingfisher stops bookings, but hopes to fly again soon
Firstpost
New Delhi: Kingfisher Airlines, whose flying licence was suspended by the Director-General of Civil Aviation (DGCA) on Saturday, said it had stopped taking booking of tickets till it resumes operations. “We are now immediately suspending all forward ...
See all stories on this topic »
Firstpost
Mallyas fly high even as Kingfisher Airlines crashes
Oneindia
New Delhi, Oct 21: while the employees of the grounded Kingfisher Airlines (KFA), which recently saw its flying licence suspended by the DGCA, were struggling to maintain a minimum standard of livelihood, reports said that both Vijay Mallya, owner of...
See all stories on this topic »

By at No comments:
Labels:
Subscribe to: Posts (Atom)