"Pre-empting Bias: My Open Letter to the Industry Before a Pro-Vista Piece Targets My Stance"
Good Afternoon, Industry.
Round 2
A Private Jet sector-specific "journalist" has threatened to incorporate some of my private messages concerning Vista to be released on Friday, which will no doubt try to benefit Thomas and Vista.
Intimidation - I will respond with a common theme: approaching the industry with the truth in hand as my sword.
A Recap
As previously stated, I have become aware of private messages from a WhatsApp group intended for discussions about Vistajet and its finances and the Fraud Hearings against Thomas Flohr. Arguing Fraud against Thomas is (barrister) KC - Sir Geoffrey Cox.
These messages, which featured not only professional insights but also personal moments such as daily experiences and family photos, somehow ended up in the hands of Thomas Flohr.??
My legal team is reviewing the circumstances surrounding this fascinating incident. As I have stated, it is a fascinating experience, and I suggest these are efforts to divert attention away from the Fraud Hearings.?
Anyway, now they appear to have found a Vistajet-friendly journalist inside our industry who appears "primed," if you will, for an article.?
Ask yourself why...
So, I am publishing this. I am not scared and stand in the ring waiting.?
The encroachment into my personal life has been disturbing, to say the least. But I say this to those few against me - who are attempting to damper my energy, scare me, and make me feel isolated:
"Never underestimate a person who is determined and armed with the truth. Such individuals possess an unwavering resolve and the clarity of purpose that can move mountains and bring about profound change."
Every time you hit me, I write out the truth.?
Why am I writing this to you all?
I was alerted via email last night that an industry-specific journalist is set to shape the narrative to benefit Vista this Friday.
I'm concerned that it will be biased. Therefore, I wanted to address it in an open letter to the industry.?
I appreciate your understanding and support as we move forward.
Previous "journalistic" coverage of Vista seems to overlook important concerns. As a result, I am writing ahead of time because I believe there is an attempt (ask yourself why?) to undermine my efforts to bring openness and integrity to the forefront.
What appears to have been "missed" in prior papers covering Vistajet:?
None of that seems to make any objective reference.?
Instead, the attention has (yet again) moved to personal attacks and attempts to undermine my credibility, and it appears that the pro Vista keyboard will type against me again.?
I am ready.?
It's a typical case of targeting the messenger rather than addressing the issue.
So, I am leading an early charge rather than being placed into a counter-attack against the upcoming attack; here we go, onto the beaches!
Attack #1 - Responded to the Industry First "We have a message where you said you would raise rates if Vista didn't exist"?
So, what??
The journalist appears to accuse me of hypocrisy because I cannot care about the roughly $1 billion in prepayments from clients and billions paid by bondholders while wanting to boost AirX charter rates.?
That is ridiculous. Why can't they exist simultaneously?
Why would I not want to boost rates and increase pricing on certain routes when the sector is offering record lows in pricing??
Another reason: Here's why: I occasionally have to compete against a corporation that makes this statement.?
"We do not look below the EBITDA line - Thomas Flohr CNBC 18th May 2023."
My response?"Nuts".?
Well, here is the truth: I do!?
Because it is below the EBITDA, you will find cash.?
Companies do not thrive or fail based on EBITDA; they fail due to cash flow.?
The reasoning is easy to understand:?My aircraft competes with an operation that views earnings solely in terms of "EBITDA" rather than net cash profits.?
As a result, it publishes so many quarters of losses that EY reports it has a $1.4 billion liquidity gap and poses a significant risk to continuing operations—who on earth would think I'd relish trying to match their price?
What was accused against me is that by hoping and dreaming of higher rates, I am a hypocrite. I quote, "It could easily appear like the pot calling the kettle black"—so I know how this article will be written!?
领英推荐
Attack No. 2: "I see you agreed to a 25k fine to the DOT"
Yes, about 5 or 6 years ago (or even more). Here's why:?
When I had an American business, I remember publishing an empty sector for an American registered citation X. The problem is that I performed it from the non-operator side, which is not permitted by Department of Transport standards—I was incorrect, and it was a true mistake.
The fine was $25,000, which was a little harsh for a social media empty-leg post, but there's little doubt that I was mistaken; it should have been posted by the operator rather than the ownership at the European level - lesson learned!
What on earth does this have to do with the Fraud Case against Thomas Flohr?
No coverage it seems that the Department of Justice fined Thomas Flohr circa $17 million for saying "you have hours, I will have the mansion house" to a now-wanted ex-Nigerian oil minister, and this journalist wants to cover my incorrectly posted empty leg fine from six years ago -?ask yourself why?
The third attack is this: "you had issues with your Canadian lessor years ago"
So, what? In any event, we won one, two or three (I can't remember it was so long ago) injunctions to defend ourselves and have the best relationship ever with our Canadian lessor now, so what's the point?
What does this have to do with the Fraud Trail Hearing against Thomas Flohr, or the EY warning about their trading position or their debt??ask yourself why?
Anyway, in the spirit of the truth, I had a legal disagreement with a lessor years ago; we obtained injunctions in Canada and reached an amicable resolution. From there, some new top management was appointed in Canada, and we have done nothing but thrive with them - like a family.?
I argue that a specific operator collaborated with an individual or group of individuals (who are not there now!) at the leasing firm to create an unusual "default" notice on me.??
The entire thing was done incorrectly with three different amounts (which vary by tens of millions of dollars!), and I also suspect and allege that the operator had made deposits for my aircraft prior to the event.?
Needless to say, the judge saw right through it, and we are here today with a fantastic relationship with our Canadian lessor; in fact, if everything goes well, we will make a big announcement one day about a number of airline conversions to private jets with them - lots to do, but it is going well!
I believe the goal of this attack (after establishing I am useless at posting empty legs in America) is to make it appear that I was financially unstable in the past (how ironic!).
To be completely honest with you, I haven't always gotten it right like I have the last two years. It's a complex business, and it's taking me some time to learn how to get it running smoothly in every cost line item and how to be a decent leader. But again, so what?
I don't think I excelled at leadership throughout my last decade of schooling, but I have become a much better one now. Mistakes - teach.?
Lastly, and this I find most odd to write about - It is also true that I have autism, but I will not be cast down because of it.?
I've learned the "art of listening" via numerous hours of therapy and coaching, and I believe I've become a better leader as a result, but there is still more work to do. I never stop learning!
What we've done is this, which is quite fantastic and unique - yet zero mention!
We have, however, taken the company and grown from a loss-making entity to a profitable one without an external funder, external investment, overdraft agreement, public funding, equity funding, or taking large prepayments from clients.?
In fact, our total prepayments, I think (off the top of my head typing this out before an afternoon of meetings), represent less than 1% or 2% of our annual revenue.
We took a company and, without investment, grew sales from €8m annually to circa €165m - bootstrapped!?
Before I finish - This is a classic example of what I believe is completely incorrect regarding the "journalism" in this sector:
Published on "what you need to know for Vista" to consumers and the industry "an oversubscribed bond offering in which Vista raised $500 million".
It is almost as if Vistajet had that as an additional long term balance - but they didn't.?
The truth can be found (public bond info) and under "use of proceeds" its clear where the money is going:
Point 7 is what the company would have left over, yet no mention of the calculated daily cash burn!
How can any company be in a strong position and get such favourable biased journalism if it needs to organise bridge loans until the bond is issued? How can the financials, time and time again, be brushed to one side to persecute anyone willing to speak the truth?
I no longer feel alone in my pursuit of truth and transparency.?
Thank you for reading my post. To the entire industry; your support warms my heart and boosts my spirits and determination.?
I stand with each of you who believes in the core values of our industry; together, we can defend these ideals and assure a future where ethical business practices are not only aspirational, but the standard, and stop this entire "record trading this and that" false message that is being poured into our sector.?
In unity and gratitude.
John.
Project Aviation and UAV Services manager
8 个月John, Good on you. for putting your side out there. An interesting and useful use of Social Media. Carole Cadwalladr from the Guardian has had interesting experiences publishing well researched journalistic articles and did TED talk about the possibility of Russian funding for the Brexit campaign and got taken to court . She fought it , noted her experiences on social media. it was a tough ride fighting the well resourced monied banks but the social media she wrote was very insightful in itself ! Of course they have funds to pay a top KC from their side. I hope this doesn't get too ugly as I am sure the KCs are licking their lips about their income for this fight. Gone are the days in the executive jet business of heavy discussions and disagreements and deals done in bars or over meals on a handshake. I wish you well
CEO at EFR Travel Ltd
8 个月Great words - well done and we love Air X !!!
Aviation journalist ? Where ? On which credentials ? Once upon a time there was aviation journalist, testing planes here and then publishing in Flying Magazine or in Bart. There is no more journalism why should it be different in aviation and especially bizjets ? Flohr pushed too much the concept and except if a last minute middle estearn miracle appears he will vanish in limbo. We do not care about vista as such but to the consequences of the fall for the industry, we do. John #youarenotalone Against this industry black sheep’s we stand.
Rudnov Aviation
8 个月One for All, and All for One ?
Aviation Executive | Midair Survivor | Business Aviation Safety Advocate
8 个月I am wondering if the upcoming story is by a journalist or someone who reprints press releases? And do they receive any benefit from anyone they write about? (Free flights, for example)