Planet Airways

Planet Airways was an airline based in Orlando, Florida, USA. It operated charter services within the USA and to the Caribbean Flight International 12-18 April 2005] .

Code data

*ICAO Code: PLZ
*Callsign: Planet [ [http://www.airlinecodes.co.uk/ Airline Codes] retrieved 21 December 2006]

History

The company was a private venture jointly owned by Peter V. Garrambone and Lou Pearlman. Lou Pearlman was the chairman, the other key people were Peter V. Garrambone (President and CEO) and Tony DeCamillis (VP). Lou Pearlman also owned a separate aircraft leasing company called Trans Continental Airlines, that turned out to have been the vehicle for his main fraud. [ [http://www.flofr.com/PressReleases/ViewMediaRelease.asp?ID=2555 Press Release FLOFR] 02/02/2007 "INJUNCTION ISSUED AGAINST LOUIS J. PEARLMAN, TRANS CONTINENTAL AIRLINES, AND OTHERS. JUDGE ALSO APPOINTS RECEIVER OVER THREE COMPANIES"]

The airline began its life in 1995 when it incorporated as "Planet Airways, Inc.," a startup airline attempting to obtain FAA Part 121 certification. [ [http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=P95000075278&n2=NAMFWD&n3=0000&n4=N&r1=&r2=&r3=&r4=PLANETAIRWAYS&r5= sunbiz.org] Florida Profit PLANET AIRWAYS, INC.]

It acquired its first plane in 1998, was granted FAA Part 121 approval to fly charter services and started operations in 2000 [ [http://www.flightglobal.com/Articles/1998/05/13/36979/Marketplace.html flightglobal.com] 13/05/98 SOURCE:Flight International "Marketplace"] [ [http://www.flightglobal.com/articles/2000/01/25/61125/planet-hunts-for-727s.html flightglobal.com] 25/01/00 SOURCE:Flight International "Planet hunts for 727s"] . Customers included the United States Department of Defense. [http://www.hqda.army.mil/ogc/2004contractors_revised.pdf] [http://www.dod.mil/dodgc/defense_ethics/resource_library/FY05_Contractors.pdf] In the fiscal year 2004, Planet Airways said to have received nearly 10% of the total revenues awarded by the Department of Defense to all qualified US carriers for domestic charters. Fact|date=February 2007

According to information supplied by the company, Planet Airways had agreed to be acquired by business development firm Planet Holdings Corp (PHC), but the deal was terminated in June 2005 [ [http://biz.yahoo.com/ic/117/117441.html Yahoo Finance] retrieved 21 December 2006] . Allegedly Pearlman was overruled by his partners who had learned Fact|date=March 2007 that the principal operator of PHC, Kevin James Quinn, had been disbarred as an attorney in California and was also banned by the SEC from participating in public offerings. [ [http://www.sec.gov/litigation/litreleases/lr19103.htm sec.gov] February 28, 2005 "Kevin James Quinn: Litigation Release No. 19103" ]

There are conflicting versions of why PHC was created. One version alleges it was created as an alternative means to provide capital to modernize Planet's aging fleetFact|date=March 2007, beginning with the replacement of two recently retired aircraft [ [http://www.itravelmag.com/travel-articles/133.html PHC Press Release] January 31, 2005 "PHC Holdings Announces New Financing Facility to Expand Planet Airways' Fleet"] . Another version alleges it was created by friends of Pearlman as a device to transfer assets from a failing entity into a new corporation without any credit history, while leaving the debt intact with Planet Airways. Fact|date=March 2007

In May 2005, as a result of the airline's poor financial condition at that time, the FAA revoked the airline's operating certificate, the DOT revoked Planet's economic authority to operate, and the Department of Defense revoked their authority to fly for the DOD. Fact|date=March 2007

Fleet

As of January 2005 the Planet Airways fleet allegedly included :

*5 Boeing 727-100/200
* [http://www.airliners.net/open.file/1128527/L/ Planet B727-023 N1910]
* [http://www.airliners.net/open.file/0796719/L/ Planet B727-223/Adv N893AA]
* [http://www.airliners.net/open.file/1123648/L/ Planet B727-223/Adv N894AA]
* [http://www.airliners.net/open.file/1129701/L/ Planet B727-224/Adv N69742 (stored @ MCO)]
* [http://www.airliners.net/open.file/0798330/L/ Planet B727-224/Adv N79745]

References