VLM Airlines news 2016

[Xavi]

The other questions is which I don't know: Did they burn the money (of the sold machines) in the daily business of2016 or did they pay debts/liabilities or whatever of 2015 or which was caused in 2015.

[Passenger]

The other questions is which I don't know: Did they burn the money (of the sold machines) in the daily business of 2016 or did they pay debts/liabilities or whatever of 2015 or which was caused in 2015.

Actually, it's not or... or...: it's and... and... Example: the taxi costs for the crew to/from LGG were often more expensive then the revenue of the flights.

[FLYAIR10]

VG walking on a very tight rope now,it seems.

I wonder whether they were able to get some extra passengers on their ANR-HAM and ANR-SOU flights after 22/3 when SN temporarily suspended BRU-HAM and BRU-LHR flights...

[SLM]

Is VIZION air operated separately of VLM?

[Passenger]

The other questions is which I don't know: Did they burn the money (of the sold machines) in the daily business of 2016 or did they pay debts/liabilities or whatever of 2015 or which was caused in 2015.

Actually, it's not or... or...: it's and... and... Example: the taxi costs for the crew to/from LGG were often more expensive then the revenue of the flights.

The new owners/shareholders have also invested some money, so we'll have to wait for their annual account 2015 to know what damage that LGG has caused, and how they're doing.

Could be the late payout of the salaries for March was caused by a temporary cash problem. Their own assetts (Eigen Vermogen) on 31/04/2014 were very solid (but that's indeed long ago).

- - -

@SLM: Vizion Air indeed has no legal link at all with VLM. Vizion Air = bvba/sprl The Aviation Factory - from Luchtzak.be member carllegein.

[SLM]

Thanks for the information about Vizion Air.

[koninckske]

People always read the negative in the news. Wirecard wanted to have 500 000 EUR because the technical limit of the amount of tickets sold was reached. VLM is not used to selling a lot of tickets. So the amount of tickets booked since the launch of their FDH operation is a lot bigger then it was before (for VLM type of business, nothing compared to SN or FR). Since the technical limit was reached Wirecards needs more money to provide their financial service (guarantee for sales) towards VLM.

So yes I agree that their cash position is not very positive, but on the other hand it means that they are selling more tickets than before . That is why they reach the technical limit.

But an article in a newspaper can kill them now, because people will think twice before booking with them. So well done detijd.be

Still this year should bring in positive cashflow:
WAT and FDH routes are doing ok (4 F50)
wetlease to WX and BE (2 F50)
for the ANR routes they experience a positive effect of the closure of BRU (1 F50)
still doing their usual charter flights with 3 F50
last F50 is not flying at the moment as far as I know

Vizion Air wants to have a 100 seater based in ANR at the end of 2016...

[Avnu]

But an article in a newspaper can kill them now, because people will think twice before booking with them. So well done detijd.be

You know, I hope they survive, I really do. But mostly for the 160 people still working there. But really, a company that uses their own employees to finance their daily business and brushes it off as a 'technical problem' (maybe even towards their own people) deserves to be called out.

It also probably means their banks aren't willing to provide them with a short term credit or loan anymore. So the power of one article is rather small compared to the power a few banks will have over the future of the business.

[carllegein]

Vizion Air is a brand name of The Aviation Factory (nr1 air charter broker in the Benelux) and uses two Fokker 50 of VLM where VLM gives the aircraft, crew, maintenance, insurance, fuel, lets say averting except that we sell the flights (mostly adhoc). But Vizion Air does not own the aircraft or is having shares in VLM.
We are just very much motivated to send over money to VLM for the booked charters , as much as we can, to help them. We do million euros with them, they are a great airline, the Fokker 50 is a great aircraft, and we will do our utmost to keep them flying !
Carl Legein

[carllegein]

Vizion Air is a brand name of The Aviation Factory (nr1 air charter broker in the Benelux) and uses two Fokker 50 of VLM where VLM gives the aircraft, crew, maintenance, insurance, fuel, lets say everything except that we sell the flights (mostly adhoc). But Vizion Air does not own the aircraft or is having shares in VLM.
We are just very much motivated to send over money to VLM for the booked charters , as much as we can, to help them. We do million euros with them, they are a great airline, the Fokker 50 is a great aircraft, and we will do our utmost to keep them flying !
Carl Legein

[carllegein]

Vizion Air is a brand name of The Aviation Factory (nr1 air charter broker in the Benelux) and uses two Fokker 50 of VLM where VLM gives the aircraft, crew, maintenance, insurance, fuel, lets say everything except that we sell the flights (mostly adhoc). But Vizion Air does not own the aircraft or is having shares in VLM.
We are just very much motivated to send over money to VLM for the booked charters , as much as we can, to help them. We do millions of euros with them, they are a great airline, the Fokker 50 is a great aircraft, and we will do our utmost to keep them flying !
Carl Legein

[Xavi]

Interesting to know. Thanks.

Is there a possibility (i.e. a website) where you can have a look at the financial statement of VLM?

[Didymus]

You can find the annual accounts up to 2014 (because that's the last one filed) with the National Bank of Belgium: http://cri.nbb.be/bc9/web/catalog?lang=E (search by name for VLM Airlines).

[Passenger]

Hamish Davidson, CEO VLM, confirms a loss of around 13 mio for financial year 2015, but he also states that VLM is doing much better this year:

http://atv.be/nieuws/2015-was-niet-het- ... -vlm-27247

(the ATV reporter says it's 13,5 mio loss but Davidson didn't mention the exact amount)

[Flanker2]

The VLM company's consolidated statement shows a net worth of 13 millions on December 31st 2014.
Substract a 13 million loss for 2015 and what is left? Zero.

Depending on how they financed the loss, there may not be much cash left indeed, so it comes down to the other assets. A big part of their assets are their aircraft, so how much money they can get from their aircraft sales versus the residual value after depreciation will show how much value they can create with their assets.

To be honest, I see a huge opportunity for SN here.
With 11 cheap aircraft to operate and no residual value, this is the perfect operation to replace SN's wetleases and expand regionally. Can you see it Mr. Gustin?

For instance, the operation is perfect for such routes as NTE, LUX, AMS, RTM, DUS, LIL and to open new routes across the Channel and to/from Germany and France.
ORY, LGW, LUT, CGN and LGG are also good candidates

[PttU]

Flying ANR-BRU as a feeder could even be faster than driving to Brussels and going through the pre-checkin delays

[Flanker2]

You read my mind. I actually posted this as well earlier, but removed it:

I would even go as far as considering ANR-BRU feeder flights.
I can already hear the idiots at SN say: "Oh my god, this Flanker2 guy is a total nutjob."
Let me assure you that I'm in total command of my thoughts.
The reason for this flight to be a total success is because getting to/from BRU is quite a hassle even from Antwerp (ie traffic jams etc...) and Antwerp can command shorter check-in/security times. In fact, BRU is a great airport for connections, while Antwerp is a much better airpot for local O&D.

One more incentive for such a flight: SN can sell flights from ANR via BRU to XYZ at the same price as from BRU and still make more money.
No I'm not nuts, do the math yourself, taking into account that ANR charges only 5€ per pax on domestic flighs and BRU doesn't charge a transfer tax.

[jan_olieslagers]

If this be sooth, where is the ANR-AMS feeder service - that would offer all the same advantages plus the much better offer from AMS? Do not forget there was one for many years, and always succesful.

[skumfiduse]

If this be sooth, where is the ANR-AMS feeder service - that would offer all the same advantages plus the much better offer from AMS? Do not forget there was one for many years, and always succesful.

Replaced by Thalys whereas KLM is selling cheaper fares Antwerp-Schiphol-Destination than Schiphol-Destination on the Belgian market. Passengers can't skip the train segment as it is considered as first leg of itinerary. No stamp = no show = itinerary cancelled.

I believe KLM started or is planning to have check-in facilities in Antwerp Central Station as Air France in Brussels Midi Station.

[jan_olieslagers]

Replaced by Thalys

OK, and why doesn't the same apply for BRU? There's a Thalys in Brussels, too, you know