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Contact: Karen C. Cook |
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 Former Amadeus North America Executive to Work with Seabury Group NEW YORK, February 24, 2005 – Seabury Group today announced that Tony McKinnon, former president and CEO of Amadeus North America, will be assisting the firm in the role of senior advisor to facilitate Seabury’s continued expansion in the travel and travel technology areas. “We are very pleased to have Tony serve as an advisor to our growing travel practice,” said John E. Luth, president, chairman, and CEO of Seabury. “His distinguished career in the travel industry, including senior executive experience at Amadeus and at other leading companies, will be extremely beneficial to our clients as they explore ways to make their businesses more competitive in today’s demanding travel industry.” Mr. McKinnon retired from Amadeus in 2004. Before he joined Amadeus in 2000, he founded Vacation.com, a travel services marketing company, and prior to that, served as president and COO of American Hawaii Cruises and The Delta Queen Steamboat Company. He also held executive positions with The Graycon Group, US Airways, Wyndham Resort Hotels, American Airlines, Pan American World Airways, and Delta Air Lines. “I look forward to working with Seabury’s experienced professionals, who have established a successful track record in airline restructuring and in other facets of the travel and transportation industry helping companies redefine their business models,” said Mr. McKinnon. Since 1998, Seabury has advised on more than $500 million of transactions in the travel and travel technology industries, including capital raises for PROS Strategic Solutions, Inc., a leading provider of revenue-management software; TravelCLICK, Inc., the leading provider of transaction-enabling and competitive data products to the hospitality industry, and Concourse Communications, the leading provider of WI-FI Internet connectivity in airports. Seabury also has advised on numerous mergers and acquisitions transactions in the travel and travel technology industries. Founded in 1995 in New York, Seabury Group provides investment banking, financial advisory, restructuring and consulting services, primarily for transportation companies and those in related industries. With more than 75 professionals in the United States and Europe, Seabury has one of the largest investment banking, restructuring, and management consulting practices in the world dedicated to the transportation sector. Seabury served as sole financial advisor to Avianca, Colombia’s leading airline, in its financial restructuring under Chapter 11 bankruptcy protection in the United States, a first for a non-US-based airline. Seabury restructured $274 million of financial obligations, advised the company on $63 million of equity capital from OceanAir, the Brazilian airline, and Federación Nacional de Cafeteros, and reduced aircraft and lease obligations by $70 million. As investment banker and financial advisor to Air Canada in its recent restructuring under CCAA (Companies’ Creditors Arrangement Act), Seabury restructured approximately C$13 billion of debt and lease obligations, and raised C$1.1 billion of new equity capital through a combination of underwritten rights offering (C$850 million) and private equity (C$250 million). It was one of the largest passenger air carrier equity raises in history. The company also advised Air Canada on the arrangement of C$540 million of exit debt financing as well as on financing for a new regional jet order, and on restructuring its network, distribution system and fleet, and on corporate-wide cost-reduction initiatives. In addition to its work for Avianca and Air Canada, Seabury has been engaged by US Airways Group. The company previously advised America West Airlines, Inc. (2001) and Continental Airlines, Inc. (1995) in their successful “out-of-court” restructurings. Other assignments include mergers and acquisitions and financial advisory work for such investment funds as Blackstone Capital L.P., Oaktree Capital Management and Texas Pacific Group L.P. and creditor assignments for such financial institutions as US Eximbank, Deutsche Bank, and Lehman Brothers. For more information, please see: http://www.seaburygroup.com | |
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