Possible Good News

flyguy · January 5th, 2004, 14:33

I just heard from my instructor, and although this won't be confirmed until Wednesday, it appears as if things are looking good for Sierra. It is true that we have been sold and that it is a Korean company. They wish to keep the Sierra name and have a lot of money to invest. They will be replacing all of our aircraft as they want nothing older than 10 years. All of the instructors and flight operations staff will remain, but our management will be changing. The Port is giving us until July 31, to rennovate the building, so it is speculated that we may move to another location, because any smart business owner will opt not to spend the 1.5 million that it will cost to make those changes, just to keep the same building. Also, this company owns a Jet center which may mean flow through.

Like I said though, this is all unconfirmed and I have a plan in mind to complete my training if this all turns out to be lies and am speaking to a lawyer about my options should they shut down and run off with the cash. I encourage all Sierra students to do the same.

need2AV8 · January 5th, 2004, 15:18

The buyer is KS Aviation - a Korean owned company with a jet operation currently based in Stockton. Their website is in Korean but you will see the Sierra Academy logo on some of the web pages.

See for yourself at
http://www.ksaviation.com/Kor/Index.php

flyguy · January 5th, 2004, 18:18

Too bad I haven't a clue what the website says about us. For all we know they are saying "Don't go to this place. They are in the process of stealing all of their student's money" LOL

Anybody here know Korean, who could translate?

SierraPilot · January 5th, 2004, 19:00

I used a web translator and it doesnt really say much that would interest any of the students currently attending Sierra Academy. There is a message forum on the website, but the translator didnt do to well on that so it was hard to make sense of what they were talking about half the time.

Ryan

flyguy · January 5th, 2004, 22:30

Doh! It just occured to me my brother in law is fluent in Korean. Maybe I'll have him check it out. Still probably nothing all that exciting though, just as SierraPilot said. I was half-way joking, but I may may have him look at it just for the heck of it.

SFLAX · January 6th, 2004, 14:09

I just got back from the palace and it is alive. The ks people have based on my understanding are going full forward. I agree with what they are doing. I corned one of them to get info, he seemned scared. I said they were getting planes in to get the school running in the shortest time possiable, no plane older then 5 years. And then they will slowley do what they need to do to get the school running correctly. I am so happy skip is gone and we are actually have people that have a clue and money to deal with the problems. As for flight training, everything will go as it was before. Meaning I am not going to get screwed. As for me I only need sierra open for another 2 years so I can get my CFI and my hours. I think that this company will keep it open at least that long.

flyguy · January 6th, 2004, 19:20

No plane older than 5 years. I'll be flying planes newer than my car!

I hope this dosn't mean a heafty price increase.

January 5th, 2004, 14:33	#1
flyguy Old Skool Join Date: Apr 2002 Location: Denver, CO Posts: 2,087	Possible Good News I just heard from my instructor, and although this won't be confirmed until Wednesday, it appears as if things are looking good for Sierra. It is true that we have been sold and that it is a Korean company. They wish to keep the Sierra name and have a lot of money to invest. They will be replacing all of our aircraft as they want nothing older than 10 years. All of the instructors and flight operations staff will remain, but our management will be changing. The Port is giving us until July 31, to rennovate the building, so it is speculated that we may move to another location, because any smart business owner will opt not to spend the 1.5 million that it will cost to make those changes, just to keep the same building. Also, this company owns a Jet center which may mean flow through. Like I said though, this is all unconfirmed and I have a plan in mind to complete my training if this all turns out to be lies and am speaking to a lawyer about my options should they shut down and run off with the cash. I encourage all Sierra students to do the same.

January 5th, 2004, 15:18	#2
need2AV8 Newbie Join Date: Feb 2002 Posts: 26	Re: Possible Good News The buyer is KS Aviation - a Korean owned company with a jet operation currently based in Stockton. Their website is in Korean but you will see the Sierra Academy logo on some of the web pages. See for yourself at http://www.ksaviation.com/Kor/Index.php

January 5th, 2004, 18:18	#3
flyguy Old Skool Join Date: Apr 2002 Location: Denver, CO Posts: 2,087	Re: Possible Good News Too bad I haven't a clue what the website says about us. For all we know they are saying "Don't go to this place. They are in the process of stealing all of their student's money" LOL Anybody here know Korean, who could translate?

January 5th, 2004, 19:00	#4
SierraPilot Junior Member Join Date: May 2003 Location: soon to be Vero Beach Posts: 136	Re: Possible Good News I used a web translator and it doesnt really say much that would interest any of the students currently attending Sierra Academy. There is a message forum on the website, but the translator didnt do to well on that so it was hard to make sense of what they were talking about half the time. Ryan

January 5th, 2004, 22:30	#5
flyguy Old Skool Join Date: Apr 2002 Location: Denver, CO Posts: 2,087	Re: Possible Good News Doh! It just occured to me my brother in law is fluent in Korean. Maybe I'll have him check it out. Still probably nothing all that exciting though, just as SierraPilot said. I was half-way joking, but I may may have him look at it just for the heck of it.

January 6th, 2004, 14:09	#6
SFLAX Junior Member Join Date: Jul 2003 Location: On the Road Posts: 175	Re: Possible Good News I just got back from the palace and it is alive. The ks people have based on my understanding are going full forward. I agree with what they are doing. I corned one of them to get info, he seemned scared. I said they were getting planes in to get the school running in the shortest time possiable, no plane older then 5 years. And then they will slowley do what they need to do to get the school running correctly. I am so happy skip is gone and we are actually have people that have a clue and money to deal with the problems. As for flight training, everything will go as it was before. Meaning I am not going to get screwed. As for me I only need sierra open for another 2 years so I can get my CFI and my hours. I think that this company will keep it open at least that long.

January 6th, 2004, 19:20	#7
flyguy Old Skool Join Date: Apr 2002 Location: Denver, CO Posts: 2,087	Re: Possible Good News No plane older than 5 years. I'll be flying planes newer than my car! I hope this dosn't mean a heafty price increase.

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