Time now for all us Wiggins watchers to move with the times and start using Planestation, the new company identity. The name Wiggins Group plc has now disappeared from the database at Companies House and Planestation is now listed on the LSE website.

So fellow travellers, forget Wiggins, the name of the game is now PLANESTATION. Lets hope it goes like an express train.

Somebody just bought 35000 worth of PTG shares, I wonder if it was a director buy?

A general update on air cargo forecast from Boeing:


http://news.airwise.com/stories/2004/09/1095269923.html

today's telegraph:

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/09/19/ccjack19.xml&sSheet=/money/2004/09/19/ixcoms.html

I Set off early last Tuesday to learn what Martin May, PlaneStation's chief executive since March, had to say at the company's annual meeting.

He conceded that institutional buying (which helped the shares from 5p to almost 7p in June) was based on hopes that he would repeat his achievements at Cape, an Aim-listed industrial services group. Within two years, Cape shares rose progressively from a low of 6p to above 120p. But I see this property/airports group as a tougher challenge.

I was disappointed that May did not stamp his authority on the meeting with a presentation on his objectives. This meant it quickly descended into shareholders expressing anger about the time and location: a 9.00am start beside a gravel pit in Essex.

PlaneStation's change of chief executive has never been properly explained, and it was not surprising that May got attacked from various sides. But once spurred, he put across a clear sense of management issues.

His actions to cut costs, reduce debts and prioritise revenue streams appeared to imply that breakeven was possible in 2005. A problem with being specific is that directors must avoid giving forecasts to anyone in particular.

I continue to think his 25m options at 4.47p (subject to performance criteria), rather than his buying a respectable amount of shares, flags the risks in PlaneStation and the timescale that may be needed to deliver value. But May said he had joined with genuine excitement about a lot of potential to create value with the company's assets.

After formal business I got a sense for good news at the end of the month; but timing can always drift. A lack of news has been responsible for the price falling back to 5p. A one-for-15 consolidation in due course should narrow the spread and appeal to institutions.

The investment rationale does involve belief in May's ability, and in this respect the AGM encouraged me to retain my shares.

I then posted the following on another board.


Roger000 - 19 Sep'04 - 11:41 - 6872 of 6874
You said - in response to the EJ article, the following 1 line

'but not enough to buy more shares.'


How very astute and informative of you to point out that EJ did not say he would be buying more PTG shares.

May I point out the following;
From my recollections,
EJ suggested buying PTG from/at around 2.5p.
(he based buying then on the company assets).
He then stated that he backed the re-financing at 4p.
He has continued to hold the shares and has today stated that he will hold.
He - I think must have see his profits reduce in line with the share fall from near 7p. Yet he continues to hold.
Institutions have followed his buying.
Im going to follow his lead, as far as I see EJ has done a great deal more research than you have done - and he has put his money where his mouth is.
Good luck
Eddie

Its comforting to see so many flights take off and land on a sunday.

Good luck
Eddie

Arrivals

EUJ424 FARO FAO 12:50 LANDED
EUJ234 NICE NCE 13:54 LANDED
FPO1711 VERONA VILLAFRANCA V33 15:47 LANDED
EUJ258 JERSEY JER 15:52 LANDED
EUJ206 AMSTERDAM AMS 17:16 LANDED
EUJ214 BARCELONA (GIRONA) GRO 21:00 LANDED
EUJ286 PRAGUE PRG 22:34 LANDED



FLIGHT DEPARTURES TO AIRPORT TIME STATUS

EUJ423 FARO FAO 06:33 DEPARTED
EUJ233 NICE NCE 09:47 DEPARTED
EUJ257 JERSEY JER 13:40 DEPARTED
EUJ205 AMSTERDAM AMS 14:55 DEPARTED
EUJ213 BARCELONA (GIRONA) GRO 16:36 DEPARTED
EUJ285 PRAGUE PRG 18:18 DEPARTED

Thanks Eddie

Passenger traffic today: 18 movements, overall things look quite good, providing of course the load levels are adequate. Unfortunately these figures are not so easy to obtain.
Need someone local who has nothing to do and likes watching aircraft :-)

ttt
If only on the grounds that something interesting will evolve soon.

lol

PJ McGoldrick, chief exec of EUJet said that the load factor was 75% on day 1.

Not laughing Jeffmack. 3 flights cancelled today. 2 inbound 1 outbound

I can't believe the dedicated followers (anoraks?) are now counting inbound and outbound aircraft. It's a bit like standing outside M&S and counting how many knickers are being sold!

Info on Manston web site Kayak. Daily flight movements updated every minute (I don't look every minute though)

Kayak

If you look on this website it tells you arrival and departures :)http://www.kia-m.com
Just because there cancelled it dosent mean that EU are going to fold or pull out . At sometime during the winter months i would imagine that some flights will be reuced anyway ?!
G12

Sorry Optomistic

we have crossed messages :)

No problem Golfclub, thanks for posting the link, I would have had to look at my notes as to how to do that. I do agree it is far better to cancel flights rather than run them at a loss. But how do they deal with the situation where there are only 2 or 3 bookings on an aircraft with no alternatative flights available from Manston, do they book them on a flight at Heathrow?

Information posted on another site:

First flight to Dublin developed problems with the landing gear, so flew to Norwich for attention. Cancellations arose as there is no spare a/c at Manston

Thanks to 'localspy'

OK, I take the point that you haven't actually been standing at the end of the runway, but what I really meant was that focusing on daily movements is imho not necessarily showing you the big picture. It's a bit like deciding to weigh yourself every hour when you're on a diet! Lots of ups and downs. The trend will take months to emerge.

can anyone tell me what if any the conversion rate is for the warrents?

Not a lot!! LOL. Sorry couldn't resist it. I'm sure someone will tell you rubbish.

warrants are covertible to shares at 10p