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Airlines

Name: TOWER AIR
7JetSet7 Code: TOW
Status: Currently Not Operational
Region: NORTH AMERICA
City: JAMAICA
Country: USA
Employees 120
Web:
Email:
Telephone:
Fax:
Sita:
Background
(definitions)

FOUNDED IN 1982. SCHEDULED & CHARTER, PASSENGER & CARGO, JET AIRPLANE SERVICES.

JANUARY 1993: SERVICES TO LOS ANGELES (LAX), SAN FRANCISCO (SFO), PARIS, TEL AVIV, SAN JUAN, PUERTO RICO & MIAMI. NON-STOP SERVICES FROM MIAMI TO BERLIN & COLOGNE. CHARTER FLIGHTS TO ATHENS, BUENOS AIRES, MILAN, ROME & SAO PAULO. FREIGHTER SERVICE TO TAIPEI, HONG KONG & PACIFIC.

1992 = +$1.3M (+$7.0M) (NET PROFIT): -4.5% RPK (PASSENGER TRAFFIC), +18.7% PASSENGERS (PAX).

1,300 EMPLOYEES (INCLUDING 65 FLIGHT CREW (FC), 400 MAINTENANCE TECHNICIANS (MT)).

MAY 1993: 1 747-200B (JT9D-7) LEASED FROM (TCI). 2 747-200B'S (JT9D-7AH) LEASED FROM (AXP).

JANUARY 1994: 1993 = +$9.82M.

CURRENTLY LEASES 9 747-100'S & OWNS 6 747-200'S.

FEBRUARY 1994: 1 747-100 (JT9D-7A), EX-ASIANA AIRLINES (AAR).

JULY 1994: 1 747-200B (JT9D-7F), EX-CONTINENTAL AIRLINES (CAL).

DECEMBER 1994: 2 747-200, (ILF) 4 YEAR LEASED, EX-VIRGIN ATLANTIC AIRWAYS (VAA).

JANUARY 1995: 1994 = +47.7% RPM, +67.4% PAX, +58.5% ASM, 74.1% LF.

MARCH 1995: 1 747-212B (JT9D-7Q) (21439) (TCI) 2 YEAR LEASED, EX-AVIANCA (AVI).

DECEMBER 1995: ACCDT: 747-136 (20271, 91K HOURS, 18K CYCLES) SKIDDED OFF RUNWAY ON TAKEOFF FROM NEW YORK (JFK), NOSE GEAR COLLAPSED, DAMAGE TO 1ST CLASS COMPARTMENT, NUMBER 4 (JT9D-7) BROKE OFF PYLON .

JANUARY 1996: 1995 = +30.3% RPM (PASSENGER TRAFFIC), +29.5% ASM (CAPACITY), 74.7% LF (LOAD FACTOR), (1,193K PAX). +$10.68M (+$0.57M). 4TH QTR = -$.88M (-$1.56M)

FEBRUARY 1996: +2 747-212B (JT9D-7J) (21316 EX-AIR ATLANTA ICELANDIC (AID) & 21162 EX-(CLI) FROM POTOMAC CAPITAL INVESTMENTS.

MORRIS NACHTOMI, CEO SAYS INTERNATIONAL PASSENGERS (PAX) +45%, DOMESTIC +9%.

MARCH 1996: SOUTH AFRICA ROUTE AWARDED TO WORLD AIRWAYS (WLD) & SOUTHERN AIR TRANSPORT (STT).

APRIL 1996: RESUMES SERVICE TO NEW DELHI. ALSO ADDING 2/WEEK
NEW YORK TO BOMBAY VIA AMSTERDAM.

1ST Q = -$8.13M (-$3.58M). 2ND Q = +$2.9M (+$4M), REFLECTS SUSPENSION OF SCHEDULED FLIGHTS TO INDIA, LOWER YIELDS FROM TEL AVIV MARKET & DECREASE IN MILITARY BUSINESS, & GROUNDING OF CARGO AIRCRAFT FOR AIRWORTHINESS DIRECTIVES (AD)'S. +1.1% RPM, +4.7% ASM, 71.9% LF (-1.9).

SEPTEMBER 1996: RAYMOND VECCI, EXECUTIVE VP & COO (EX-CHAIRMAN ASA).

3RD OF 5 747-200F'S, FEDEX (FED) LONG TERM LEASE.

OCTOBER 1996: $200M 5 YEAR MAINTENANCE CONTRACT TO (GE) FOR (P&W) ENGINES. MAINTENANCE & REFURBISHMENT FOR 14 747'S.

3RD Q = -$1.60M.

DECEMBER 1996: RAY VECCI RESIGNS TO BECOME CARNIVAL (CVL) PRESIDENT.

APRIL 1997: 1ST Q = -$5.4M (-$8.1M): -26.5% RPM, -25.5% ASM
70.9% LF (-0.9). 1,400 EMPLOYEES.

TO ATHENS AND BEYOND TO TEL AVIV FOLLOWING WITHDRAWAL FROM ROUTE BY (TWA).

MAY 1997: REUVEN WERTHEIM, EX-CARNIVAL (CVL) CHAIRMAN, MANAGING DIRECTOR EUROPE WITH OFFICES IN NEW YORK AND ATHENS.

JULY 1997: TO KIEV, LATVIA.

2ND Q = +$3.6M (+$2.9M)): -10% RPM, -12.7% ASM. /96 = -$20.90M. 1,797 EMPLOYEES.

SEPTEMBER 1997: APPLIED FOR NEW YORK (JFK) - ATHENS - CAIRO.

OCTOBER 1997: 1,102 EMPLOYEES, WITH 1,797 IN 3RD Q.

TO LAS VEGAS.

LEASED 7 747'S TO OPERATORS IN ASIA & MIDDLE EAST ON SHORT-TERM
BASIS (HADJ FLIGHTS).

9 MONTHS = -3.5% RPM, -9.5% ASM, 77.1% LF (+4.3), .945M PAX (-4.1%). 3RD Q = +$8.5M (-$1.6M): +16.6% RPM, +3.5% ASM, 82.3% LF (+9.2). 1ST 9 MONTHS = +$6.7M (-$6.8M). NUMBER 1 FOREIGN CARRIER TO ISRAEL.

ARRANGES LONG-TERM LEASE OF 2 747-200 (22382 & 22496), EX-PHILIPPINE AIRLINES (PAL), NOW IN HEAVY CHECK & ENTER SERVICE IN 2/98.

NOVEMBER 1997: IN 1ST Q 1998, +2 747-200, (GUI) LEASED, AND RETIRE 1 747-100. ALSO TO CONVERT 747-200 PASSENGER TO FREIGHTER AT END OF 1ST Q. AT END OF 1/98, 747-259 COMBI (21730) TO FREIGHTER BY ISRAELI AIRCRAFT INDUSTRIES (IAI). AAR ADVANCED STRUCTURES CONTRACT FOR 30-POSITION CARGO LOADING SYSTEM.

JANUARY 1998: 747-2F6B (22382) & 747-283B (22496), (GUI) LEASED.

TERRY HALLCOM, PRESIDENT & EXECUTIVE VP OPERATIONS, EX-US AIRWAYS (USA) SHUTTLE REPLACES GUY NACHTOMI, WHO LEFT TO PURSUE FORMAL EDUCATION AT STANFORD UNIVERSITY. GUY'S FATHER MORRIS, OWNS 75% OF TOWER AIR (TOW) AND REMAINS AS CHAIRMAN & CEO.

1997 = 3.577B RPM (+7.4%), +1.3% ASM, 76.3% LF (+4.3), 1.307M PAX (+9.5%). USA MARKET SHARE 1997 = 13TH 0.59%, 2ND LF. 1997 = -$3.9M (-$20.9). 4TH Q = -$10.5M (-$14.1M).

747-121 (142-20354) WITHDRAWN FROM USE (WFU). 1 747-200B (JT9D-7Q), EX-PHILIPPINE AIRLINES (PAL).

MARCH 1998: $22.9M CONTRACT FOR 2 747F'S WET-LEASED TO FAST AIR
CARGO (FAC) FOR 1 YEAR (-100F 19650, & -200F 21730).

APRIL 1998: DEPARTMENT OF TRANSPORTATION (DOT) ALLOCATES TOWER AIR (TOW) 24 CHARTER ALL-CARGO FLIGHTS TO BRAZIL FOR 1998 - 1999.

1,855 EMPLOYEES (INCLUDING 200 FC AND 13 MT).

(http://www.towerair.com). (info@towerair.com).

1ST Q = -$7.33M. -15% EMPLOYEES IN NEXT YEAR.

JUNE 1998: 727-259F (372-21730) AND 747-121F (24-19650) OPERATES
FOR FLORIDA WEST (PAI).

JULY 1998: SCHEDULED SERVICE NEW YORK (JFK) - FORT LAUDERDALE HOLLYWOOD AIRPORT (747).

TERRY HALLCOM, PRESIDENT, RESIGNED.

1ST 6 MONTHS = 1.67B RPM (+30.8%), +27.3% ASM, 74.3% LF (+1), 629K PAX (+32.4%), +9.6% BLOCK HOURS: -$6.8M (-$1.8M). 2ND Q = +$500K (+$3.6M).

(DOT) RENEWS NEW YORK - CAIRO, VIA ATHENS.

SEPTEMBER 1998: LETTER OF INTENT (LOI) 2/2 ORDERS (1/00) 777-200'S, (ILF) 10 YEAR LEASED.

OCTOBER 1998: 1 747-237F (JT9D-7J) (21446), EX-AIR-INDIA (AIN), TRITON AVIATION (TIA) LEASED. BUYS 747-200 (JT9D-7J) (20011) OFF
LEASE FROM CIT GROUP (TCI). PLANS TO RETIRE 2 747-100'S.

1,598 EMPLOYEES (FULL +1/2PART).

NOVEMBER 1998: 3RD Q = +$12.1M (+$8.5M). 9 MONTHS = +$5.2M (+$6.7M). 76.1% LF (-1).

(DOT) OK'S SCHEDULED COMBI SERVICE NEW YORK, MIAMI (MIA), BOSTON, AND SAN JUAN TO SANTO DOMINGO, PUERTO PLATA, AND PUNTA CANA, DOMINICAN REPUBLIC.

WILLIAM CAIN, SENIOR VP MAINTENANCE & ENGINEERING.

DECEMBER 1998: $20M CONTRACT FROM AIR-INDIA (AIN) FOR 4 747'S (21316; 21939; 22382; 22496) WET-LEASED FOR HADJ FLIGHTS TO MECCA MID-FEBRUARY TO END OF APRIL 1999 - 2001.

MEMBER OF NATIONAL AIR CARRIER ASSOCIATION (NACA) INCLUDING KALLITA AIR CARGO (CKF), OMNI AIR INTERNATIONAL (OAE), EVERGREEN INTERNATIONAL (EVR), MIAMI AIR (MIB), ATA AIRLINES (AAT), & WORLD AIRWAYS (WLD).

BOUGHT 747-200 (JT9D-7Q) (21937) OFF-LEASE FROM ILFC (ILF).

JANUARY 1999: 1998 = 4.07B RPM (+13.9%); +16.3% ASM; 74.8% LF (-1.5); 1.59M PAX (+21.7%).

FEBRUARY 1999: DEPARTMENT OF DEFENSE COMMERCIAL AIRLIFT REINSTATES TOWER AIR (TOW) FOR MILITARY CHARTERS IMMEDIATELY = 13.6% OF OPERATING REVENUES IN 1998. 4TH Q = -$3.7M (-$10.5M). 1998 = +$2.0M (-$7.3M).

APRIL 1999: 1ST Q = +13.1% RPM, +13.1% ASM, +26.8% PAX, -8.4% BLOCK HOURS, -$2M (-$7.3M). 1,776 EMPLOYEES (INCLUDING 217 FC, 555 CA, & 14 MT).

JUNE 1999: NEXT MONTH, CHARTER NEW YORK (JFK) - PISA - VERONA FOR TOUR OPERATOR GLOBAL INTERNATIONAL.

JULY 1999: 1ST 6 MONTHS = 1.80B RPM (+7.8%), +6.6% ASM, 75.1% LF (+.8), .77M PAX (+22.9%). 2ND Q = -$2.6M (+$500K). 74.4% LF (+1.4).

PENNY & GILES AEROSPACE, KANSAS, ORDER FOR ENGINE INSTRUMENT DISPLAY SYSTEM (EIDS) FOR 17 747'S.

SEPTEMBER 1999: 1 747-2U3BF (562-22769, N106TR), EX-TRITON (TIA), NOT TAKEN UP.

OCTOBER 1999: 747-121F (16-19647) PARTED OUT.

NOVEMBER 1999: 3RD Q = -$1M (+$12.1M): +15.2% FUEL COSTS.

DECEMBER 1999: 747-200F (N618FF) STRUT MODIFICATION COMPLETED AT
CHINA AIRLINES (CHI) ON SCHEDULE.

JANUARY 2000: 1999 = 4.12B RPM (+1%), +.8% ASM, 74.9% LF (+.1), 1.76M PAX (+10.5%). PROJECTS $28M REVENUES FROM 3 747 WET-LEASES TO AIR-INDIA (AIN) & 2 747 TO AIRASIA (ASW) FOR HADJ 2000 TO TRANSPORT >65K PILGRIMS TO MECCA 2 - 4/00 (747-200 (JT9D-7J) (21162; 21316) TO (ASW). 2 747-100'S (19734; 19746) & 1 747-200 (21439) TO (AIN).

FEBRUARY 2000: LAYS OFF 300 EMPLOYEES AS PART OF RESTRUCTURE AND COST CUTTING MEASURES (18.5% OF STAFF).

1 767-200, RETURNED TO LESSOR.

DENIES IT IS FILING FOR BANKRUPTCY, AS RUMORS OF CREDITORS PULLING ENGINES OFF 6 747'S AT NEW YORK (JFK).

MARCH 2000: FILES FOR CHAPTER 11 BANKRUPTCY.

(GMAC) FINANCING FOR DEBTOR IN POSSESSION (DIP) $18M TO CONTINUE SCHEDULED & CHARTER PASSENGER & FREIGHTER OPERATIONS WITH 17 747-100/-200'S.

747-259F (372-21730, N621FF) RETURNED TO LESSOR.

APRIL 2000: STRANDS ALMOST 500 PASSENGERS AT TRINIDAD'S PIARCO AIRPORT DUE TO TOWER AIR (TOW)'S FINANCIAL AND OPERATIONAL PROBLEMS.

1,776 EMPLOYEES (INCLUDING 217 FC, 555 CA, & 14 MT).

MAY 2000: 747-237F (318-21446), RETURNED TO TRITON (TIA), LEASED TO(UPS). RETURNS SEVERAL 747'S TO LESSORS.

SUSPENDS SCHEDULED SERVICES. CONTINUES OPERATIONS OF CHARTERS AND MILITARY CONTRACTS.

MORRIS NACHTOMI, CHAIRMAN, PRESIDENT, & CEO, RESIGNS.

JULY 2000: 1999 = -$4.61M (+$1.49M): 7.54B RPK (-1%); 72.1% LF; 130.82M FTK (+440.6%); 1.92M PAX (+7.4%); 1,365 EMPLOYEES (-20.1%).

AUGUST 2000: 747-100F (JT9D-7A) (19638), RETURNED TO FIRST SECURITY
BANK (FSB), SOLD TO KALITTA EQUIPMENT (CKF).

SEPTEMBER 2000: AUCTIONS OFF ITS AIR OPERATIONS CERTIFICATE (AOC). NOW HAS ONLY 120 EMPLOYEES.

747-238B (20011) PARTED OUT. 747-131 (28-19672) RETIRED AT VICTORVILLE.

NOVEMBER 2000: 747-212 (419-21937, /79 N618FF), BOUGHT BY TRITON (TIA), LEASED TO (UPS), CONVERTED TO FREIGHTER BY ISRAELI AIRCRAFT INDUSTRIES (IAI).

Fleet:
(definitions)

December 2000:

0 727-259B (JT8D) (372-21730), OPS FOR (PAI).

0 747-121 (JT9D-7) (24-19650, /70 90 20; 49-19659, /70 88 19), EX-(PAA), 19650 WET-LST (FAC).

0 747-124 (JT9D-7) (58-19734, /70 70 21), PARTED 11/01.

0 747-130 (JT9D-7) (12-19746, /70 82 18), PARTED 11/01.

0 747-131 (JT9D-7) (28-19672, /70 98 18), EX-TWA, RETIRED.

0 747-136 (JT9D-7) (172-20271, /72 91 18; 184-20273, /72 94 20), EX-(BAB), 20273 PARTED OUT.

0 747-2F6B (CF6-50E) (498-22382, /80 66 13), EX-(PAL), (GEH) LSD.

0 747-212B (JT9D-7/-7Q) (283-21162, /76 64 15; 309-21316, /77 59 13; 312-21439, /77 62 14 N634FF, (TCI) LSD; 419-21937, /80 70 13, EX-(VAA); 449-21939, /80 68 13), EX-(SIA); 21162; 21316; WET-LST (ASW) TIL END 4/00, 21439 LST (AIN), 21937 RTND (ILF), 21937, ST (TIA), LST (UPS), CONV TO F BY (IAI) 1/01, 21939 RTND (GRB), LST (UPS) 8/00. 21439 RTND (TCI) LST (DJB) 3/01. 21439 PARTED OUT AT ROSWELL.

0 747-237F (JT9D-7J) (318-21446), EX-(AIN), RTND (TIA), LST (UPS)
5/00.

0 747-238B (JT9D-7) (162-20011, /71 82 22 N607FF), EX-(TCI).

0 747-259BC (JT9D-7Q) (372-21730, /79 56 16), EX-(CAL), RTND TO (GEH) 3/00, LST (PAO) 9/00.

0 747-282B (178-20501, /72 74 15; 189-20502, /72 71 14), EX-(TAP). 20501 SCRAPPED 1/05.

0 747-283B (JT9D-7Q) (540-22496, /81 50 11), EX-(SAS), (GUI) LSD PARTED OUT 5/01.

0/0 ORDERS 777-200, (ILF) 10 YR LSD, 2/2 CANCELED.

Management:
(definitions)

MORRIS NACHTOMI, CHAIRMAN & CEO (CO-FOUNDER), RESIGNS 5/00.

CHARLES STANZIALE, CEO (7/00).

REUVEN WERTHEIM, MANAGING DIRECTOR EUROPE, EX-(CVL) CHAIRMAN) (5/97).

VINCE VITALE, SENIOR VP MAINTENANCE & ENGINEERING (4/00).

ANNE AKTABOWSKI, VICE PRESIDENT GROUND OPERATIONS.

TONY FEDDER, DIRECTOR ENGINEERING (5/97).

ROLAND HANNULA, DIRECTOR QUALITY CONTROL (10/98),
(rhannula@towerair.com).

RICHARD ACQUAVITA, DIRECTOR MAINTENANCE (4/00).

SHELLY HUNIHAM, DIRECTOR PLANNING (7/96).

BOB GALLAGHER, CHIEF OF ENGINEERING.

JIMMY RAY, MANAGER MAINTENANCE PROGRAMS.

TONY FEDDER, MANAGER AIRCRAFT SYSTEM ENGINEERING.

ROBERT BUTLER, MANAGER PLANNING (4/00).

 
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