Cyprus-Forum.com

[Paphitis]

Papers say Chinese investors

https://www.bbc.co.uk/news/business-45897567

And you think that the worldwide media knows more than Paphites?

That's the fatal error everyone here makes thinking that Paphitis will finally shut up in the face of overwhelming credible evidence but no!

Look I couldn't care less.

I knew they were going down a long time whether it was Australian, American or Chinese.

I just can't believe someone can just decide to invest in Aviation with a tiny market like Cyprus and succeed.

I think one company has potential an that's Tus but that's run by an ex Cyprus Airways captain but the good thing about Tus is their all Fokker Fleet, not who is running them or how good they are. Those Fokkers are great aircraft, and bulletproof.

Cobalt started off as an Australian Consortium when it was formed and they got out of it.

[Paphitis]

Paphitis ffs!...stop bullshitting!! AP was fired. I served on their fucking board for 6 months I know!

And the investors were Chinese. Full stop.

You picked the wrong company to be on the board of.

And now, you have crashed and burned.

Furthermore, you can't sack these blokes that formed the business. I forget the guys name, but he was heavily involved in a Russian airline and also in China. They sold out to the Chinese investor and left the business, not get sacked. Get your facts right. They knew they were spanking a dead donkey.

You were spanking a dead donkey. They chances of Cobalt being profitable with Aegean and TUS as competition was next to nil. You got a market of 700,000 people and already the market is saturated with low cost carriers.

[Paphitis]

And one more thing. How can a company with a fleet of 6 airbus, predict to be in profit within 9 moths? Who made these predictions and how? How do they plan to increase their revenue and lower their costs?

Wow you would have to be the best business man in the world.

here is the thing with Aviation. If you fuck an engine, then you can revise that forward estimate from 9 months to about 5 years. Especially with such a small company.

9 months is ambitious.

Do an engine on a Fokker 100 and you can buy an engine for about 1 million.

And there are plenty of Aviation businesses that are well run and will lose money. You got to have the money and willingness to fund this for the upturn plus eliminate competition and Cobalt couldn't do it.

[DT.]

Paphitis ffs!...stop bullshitting!! AP was fired. I served on their fucking board for 6 months I know!

And the investors were Chinese. Full stop.

You picked the wrong company to be on the board of.

And now, you have crashed and burned.

Furthermore, you can't sack these blokes that formed the business. I forget the guys name, but he was heavily involved in a Russian airline and also in China. They sold out to the Chinese investor and left the business, not get sacked. Get your facts right. They knew they were spanking a dead donkey.

You were spanking a dead donkey. They chances of Cobalt being profitable with Aegean and TUS as competition was next to nil. You got a market of 700,000 people and already the market is saturated with low cost carriers.

I haven't crashed or burnt Paphiti don't worry, was only there to help them setup..

Your Ozzie was chased out of Russia, they actually stormed his office. And yes he was fired from cobalt.

[Paphitis]

Paphitis ffs!...stop bullshitting!! AP was fired. I served on their fucking board for 6 months I know!

And the investors were Chinese. Full stop.

You picked the wrong company to be on the board of.

And now, you have crashed and burned.

Furthermore, you can't sack these blokes that formed the business. I forget the guys name, but he was heavily involved in a Russian airline and also in China. They sold out to the Chinese investor and left the business, not get sacked. Get your facts right. They knew they were spanking a dead donkey.

You were spanking a dead donkey. They chances of Cobalt being profitable with Aegean and TUS as competition was next to nil. You got a market of 700,000 people and already the market is saturated with low cost carriers.

I haven't crashed or burnt Paphiti don't worry, was only there to help them setup..

Your Ozzie was chased out of Russia, they actually stormed his office. And yes he was fired from cobalt.

Was he now? You got a link?

You can’t fire a CEO. He was the CEO. They sold their interest and left. And the last time I checked, he was still involved with some airline in China and they are still going concerns unlike Cobalt who are not.

The guy fucked up because he tried to set up in Cyprus. It was a stupid move when you have China, and Australia market at your fingertips.

As for Russia, the more likely story is that he violated Australian sanctions and had to get out of there or face the consequences. These people always have their golden parachute. They know the Aviation business too because that is what they do.

What I think they wanted was the Cyprus Airways name. But now the Russians have it. Should have given it to TUS which is a Cypriot company owned by some nice people. Btw, the owner of TUS is another Aussie, ex Cyprus Airways captain. He is Tasmanian. Great fella too.

[Paphitis]

I would like to know how you helped them set up DT.

To set up an airline you need an Air Operator’s Certificate. We’re you involved in that lengthy process or did they get professional aviation consultants that know what they are doing?

The Aussie you say got sacked is an expert in holding AOC’s in multiple jurisdictions, including the very strict Australian jurisdiction which is regulated, checked and audited to the tilt.

You never told me you know how to obtain an AOC!

Setting up a company structure is easy, getting an AOC isn’t.

[DT.]

Did you just write you can’t fire a ceo? Oh dear.

Anyway to answer your question, I know nothing about airlines, I helped them get funded.

Btw. Guy was stalking the company days after for higher compensation after he got fired. Poor guy. Not too impressed with the calibre of Aussie mgt that I’ve seen so far.

[RichardB]

Papers say Chinese investors

https://www.bbc.co.uk/news/business-45897567

And you think that the worldwide media knows more than Paphites?

That's the fatal error everyone here makes thinking that Paphitis will finally shut up in the face of overwhelming credible evidence but no!

Guess you're right ...again

[Paphitis]

Did you just write you can’t fire a ceo? Oh dear.

Anyway to answer your question, I know nothing about airlines, I helped them get funded.

Btw. Guy was stalking the company days after for higher compensation after he got fired. Poor guy. Not too impressed with the calibre of Aussie mgt that I’ve seen so far.

Yeh I did write that mate.

These are the guys that started it all off, and they left. You say they got fired and that you were on the board of Cobalt.

Therefore, you are in a position to provide evidence of the Australian Consortium being fired. It wasn't just the CEO after all. There were a few Aussies in the Consortium, even long standing QANTAS and Cathay Executives who know the Aviation Business. They all bailed is what happened.

You also said you helped set the company up. So were you involved with the company getting the AOC or not? Or were you the pleb that just registered the business? There is a big difference in the 2 roles. Stting up a corporate structure isn't that difficult really. Getting an AOC however is pretty hard to get.

To make the claim that you set things up implies that you are one of guys responsible for getting the AOC. It was the Australian Consortium that got the AOC. Once they had that, they had a business worth something on market. They were an Air Operator. You didn't set it up did you?

[Paphitis]

Papers say Chinese investors

https://www.bbc.co.uk/news/business-45897567

And you think that the worldwide media knows more than Paphites?

That's the fatal error everyone here makes thinking that Paphitis will finally shut up in the face of overwhelming credible evidence but no!

Guess you're right ...again

I don't appreciate the sarcasm.

DT said he was responsible setting Cobalt up. Setting up an Airline isn't as simple as setting up a grocery store, or fast food joint.

It took Cobalt about 6 months to get an AOC and it would have cost them a couple of million dollars in consultant fees. The people that did set it up had years of experience setting up Airline Businesses in Russia, China, and Australia and were renowned Airline Executives of some good repute with some of the best Airlines in the world. The only way Cobalt would succeed is if they managed to get Cobalt to be a subsidiary of a much larger network and be the Middle Eastern feeder airline to one of their Chinese interests.

I know how the business started and it wasn't the Chinese that founded Cobalt. A group of Aussies came up with the idea of moving into the Cyprus market after the Cyprus Airways collapse thinking they could fill the gap but they didn't do their homework very well. But they got the company flying with an AOC. And they sold it off.