Boston, Massachusetts January 22, 2010
The owner of Great Lakes Express Regional Airline today announced he has purchased Premier Airways for an estimated 128 million US dollars. A press conference was held today at the former Premier Airways offices in Boston and most of the details were revealed. Paul Herman who was the former CEO of The Premier Group (current partner for GLE)which was the holding company for Premier Airways (Passenger Division), Premier North (Canadian Division) and Precision Global Logistics (Cargo Division). Paul stated that Premier Airways holds over 2,900 slots at airports on 3 continents and most of those slots have been sold off. The airline has also sold off almost the entire fleet which included aircraft from the Beech 1900D to the 747-400. Premier Airways has retained several Boeing 737 aircraft which were available for lease but not picked up by any other carrier. Those leases will now be covered by Great Lakes Express over the next three months.
Paul also stated the plans for Premier Airways now that it is owned by Great Lakes Express. Premier Airways will now become Premier West and operate solely on the West Coast of the United States with hubs in Phoenix Arizona and Las Vegas Nevada. Premier West will operate the Boeing 737-500, 737-300, 737-600NG and the 737-700NG. The 737-500 will operate shorter routes while the 737-700 will operate longer routes. The airline will run a point to point system rather than a hub and spoke system while focusing on the major destinations in Arizona, Nevada, California, Oregon, Idaho, Washington, New Mexico and Texas. Premier West will not be bringing any larger aircraft to the fleet nor will it offer any cargo operations. Premier West will be branded as a low cost carrier geared to compete with the nation’s leading low cost airlines. The new airline will not offer regional service at this time nor are there plans to do so in the future, Premier West will focus on flying the single isle 737 in a single class configuration.
The new Premier West will operate as its own entity that is Great Lakes Express will operate as it does currently and Premier West will operate on its own on the West Coast. Great Lakes Express web site will stay as it is and will not feature any Premier West flights or fleet information. Premier West will feature its own web site that will function and appear like Great Lakes Express. Employees will be able to go between both divisions with a simple click of the mouse.
What this means for the Pilots and employees of Great Lakes Express, in short it means nothing; you will still operate as you always do. You may fly of either airline as the rosters will remain the same for both Divisions. VAFS will operate the same for both Divisions giving you the ability to log into your pilot client and fly any route in the system. New pilots who join Premier West will join both airlines. Much of the data on the Premier West site will look the same as Great Lakes Express, this is done by design and once things are up and running you will be able to see why we are going in this direction.
Paul Herman stated that he knows the fear will be that Great Lakes Express is about to go international. That is not the case. He understands that the closing of Premier Airways left many people missing the short 737 flights on the West Coast, soon this will be corrected. “Once we get up and running you will see how easy this will be for both airlines to function together” Paul said. “Our 737 pilots and customers will be thrilled with the additional service in one of the most spectacular areas in the world”.
A holding corporation has also been created, the new company is called Great Lakes National Holding Inc. (GLNH) and will remain a privately held company owned and operated by Paul Herman and Zane Greenwald. This company will operate Great Lakes Express and Premier West Airways. Great Lakes Express currently is valued at 20 million US dollars with 1.5 million dollars in monthly liabilities. GLNH will lease five Boeing 737 aircraft with a commitment of five more within the next 15 months. The company will not feature any flights that will connect the two airlines together; again, they will operate as two separate entities.
Finally, the new Premier West will function on the West Coast much the same way Great Lakes Express does on the East Coast, just with 737 aircraft. We look forward to bringing you this new service and please watch www.premierairways.com for updates and progress.
Welcome Aboard!