|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact: Karen C. Cook |
|
 Seabury Group Expands Airline Advisory Practice : Four Former Bain & Company Consultants Join Firm NEW YORK, January 29, 2004 - Seabury Group today announced that it is expanding its advisory practice in response to growing demand in the airline industry for both hands-on airline company experience and advisory services focused on cost-reduction efforts. Four former Bain & Company consultants who have experience in both areas have joined the firm. They are:
"In our restructuring work with airlines, including America West, US Airways and Air Canada, we have found that cost-restructuring efforts comprise a large part of any business plan," said John Luth, chairman, president and CEO of Seabury Holdings LLC. "With the addition of these four consultants, who have worked inside and with airlines, Seabury will offer airline companies throughout the world a one-stop shopping approach to all the tools they need to build and manage successful businesses." "We are delighted to join the investment banking and financial advisory team at Seabury and have the opportunity to work with airlines on their cost-reduction initiatives," said Mr. Schottland. "Our experience has shown that short-term improvements in the economy can't mask the need for airlines to fundamentally reduce their base costs for long-term survival." Seabury has extensive experience pairing its advisors with an airline's management team to restructure business practices and policies in the areas of revenue enhancements, airport operations, technical services, in-fight services, IT and customer services. The addition of these four consultants will expand that capability to maintenance, human resources, and vendor management. Founded in 1995, the Seabury Group provides investment banking, financial advisory, restructuring and consulting services for business services, insurance, real estate, transportation, travel, and technology industries. Seabury currently serves as principal restructuring advisor to Air Canada in its restructuring under the Companies' Creditors Arrangement Act (CCAA), which is similar to Chapter 11 of the U.S. bankruptcy code. Previous engagements include successful corporate restructuring and recapitalization assignments for US Airways Group, America West Airlines, Inc., Continental Airlines, Inc. and Kitty Hawk Air Cargo; M&A and financial advisory work for such investment funds as Texas Pacific Group LP and Blackstone Capital L.P.; creditor assignments for such financial institutions as US Eximbank, Deutsche Bank and Lehman Brothers, and insurance advisory work for Liberty Mutual and Fortis. Today, Seabury has arguably the largest group of investment banking and restructuring professionals in the world dedicated to the transportation sector. Recent transactions include structuring and placement in Europe of $100 million of bonds backed by life insurance settlements and a private equity placement for US Airways Group. Seabury Group principals have structured over $75 billion in debt, equity, M&A transactions and strategic affiliations. Seabury employs more than 75 professionals worldwide who have a wide variety of senior executive expertise in structured lease and debt financing structures for transportation and real estate concerns, enterprise risk assessments, insurance, technology, airline fleet and network planning, airport advisory services and IT management information systems. For more information, http://www.seaburygroup.com/. |
|
|
||||
Home |
Services | Company | Industries
| Clients | Contact Us | News | Sitemap |
||||