STT / Nicolas

Jeffrey,

Rod has advised me of a closing date on St. Thomas of July 1st. Air center has not retracted the letter for hangar space. Any time after June 1, the Port should be able to tell you that the hangar will be officially vacant as of August 31. This is 90 days from notice. Air center will be liable for rent through August 31 per their lease.

We are exploring income generation at this point, as both Maria and myself will be out of jobs.

Maria is waiting for the 135 certificate to fly point to point charters. If necessary, we can use another company's 135 by utilizing their pilot while we wait. Maria is also in the process of opening a second company to act as a holding company to buy/lease aircrafts. We have purchased a R44 as a stepping stone, to fly instruction, photographic missions, tours, and charters. This type of helicopter is not best-suited for the clientele we normally fly, but it's a start towards something. A pre-buy is in process and we hope to have the helicopter and permits by the end of the month.

As for the hangar, I have not asked Rod to assign it to me since without guaranteed sub-lessors, I cannot pay the monthly rent. When the time comes, I will make arrangements for a small space somewhere.

Maria and I have seen that the best way to increase our income is to open a small FBO. In that way, we would be able to make revenue from fuel services. It's going to be a bit of a struggle with the port authority as they feel 3 FBO's on the field is enough. But, I can carry favor if it was somehow proven that Hancock is involved in Execujet. If I am able to open an FBO, I have the financial support to back it.

Exploring all local options, I will ask, if you continue using me as a pilot, would you consider hiring me, part time, for 100 days of work per year, no benefits? Along the same vein, with some schooling, I would be available to copilot with Larry or Dave. I have other options, but to be fair to my family, I need to target locally first. Any answers will be greatly appreciated so that I may plot a financial future.

Thank you
Nicolas