0
PlaneFun

Are People Jumping Right Now?

Recommended Posts

We are just about ready to kick off the New England season in my area. It looks like most DZ's are going reschedule safety day, or offer an online stream of some sort.

As far as actual opening days I haven't seen any flat out closures, and I don't think you will see that unless it is government mandated. I have a bad feeling that this is going be a tough year for owners,and full time skydivers.

Share this post


Link to post
Share on other sites

Posted on Perris' Website:

Skydive Perris will be shutting down our sport and student operations, the Bombshelter Restaurant and Perris Indoor Skydiving until April 3rd. At that time we will evaluate the situation and decide if a longer shut down is warranted.  Click HERE for more information and a letter from all of us at Skydive Perris.

 

COVID19 UPDATE

To our Skydive Perris Family,
 
What a crazy few weeks it's been.  Amazing how things can change so quickly.  We hope you are all taking the best care you can of yourselves, each other, your families and the community.    
 
With the all the reports and numbers coming in from around the world it has been difficult over the last weeks for us to decide what would be the best thing to do moving forward. But the answer has become clear. There are huge health concerns, enormous economic worries and no way to completely avoid them.  Damage has been done in both and it will probably get worse before it gets better.  
 
A few things about skydivers come to mind.  
 
1) We as a group are not risk adverse.  We make a calculated risk every time we make a jump.  A risk we completely understand and can mitigate.
2) We are a very friendly and very social community.  We love hanging out together and hardly let another jumper pass without giving them a hug.
3) As a group we're relatively healthy and optimistic.  
 
Normally…for these reasons, regardless of what else is going on in the world, if the sun is out and the planes are flying we'll be at the drop zone.  
 
However, based on the advice regarding the Coronavirus from both the Conservative White House, the Liberal California State Government as well as the scientific data from the USA and around the world, one thing is for sure.  By being at the drop zone together right now we will only stand to make the situation worse.  It will make things worse in terms of the health of society and of the long term economy.
 
For these reasons Skydive Perris will be shutting down our sport and student operations, the Bombshelter Restaurant and Perris Indoor Skydiving until April 3.  At that time we will evaluate the situation and decide if a longer shut down is warranted.
 
Take care of yourselves.  Stay home, watch a movie, read a book, go for walk, head to the mountains, enjoy some quiet time, but please practice social distancing.  This too shall pass and we will be sharing our love for the skies and each other again soon.

Skydive Perris

Share this post


Link to post
Share on other sites
1 hour ago, flyhi said:

Heard Skydive Sebastian in Florida shut down until April. Harbinger of things to come? 

As of this morning SDAZ has a notice about extra cleaning. They seem to be holding out for today anyway.

Share this post


Link to post
Share on other sites
Just now, gowlerk said:

Whatever service we can sell to the public.

I'm pretty sure you nailed it earlier, this will wash out DZ's that can not take a year of pain. Up and coming Turbine DZ's will get hammered. $100K aircraft payments, $30-35K insurance, $40K advertising, $40-50K facilities lease plus whatever else you pay every month. I doubt many have an extra quarter million to stay the course.

Share this post


Link to post
Share on other sites
(edited)
6 minutes ago, JoeWeber said:

I'm pretty sure you nailed it earlier, this will wash out DZ's that can not take a year of pain. Up and coming Turbine DZ's will get hammered. $100K aircraft payments, $30-35K insurance, $40K advertising, $40-50K facilities lease plus whatever else you pay every month. I doubt many have an extra quarter million to stay the course.

Banks will need to be flexible. Perhaps interest only payments. After all, if they seize skydive aircraft the market to sell them into will be limited. Advertising can be cut. People will have to hunker down, not all will ride out the storm. There could a flood of reasonably priced assets by mid summer.

Edited by gowlerk

Share this post


Link to post
Share on other sites
5 minutes ago, gowlerk said:

Banks will need to be flexible. Perhaps interest only payments. After all, if they seize skydive aircraft the market to sell them into will be limited. Advertising can be cut. People will have to hunker down, not all will ride out the storm. There could a flood of reasonably priced assets by mid summer.

Usually there is at least 20% down and, unless there are other pledged assets, solid market data to support the purchase price. If you have no long term track record of growth they may not want to kick the can down the road to an uncertain future. They might see it as better to seize it and wholesale it now.

Share this post


Link to post
Share on other sites
3 minutes ago, JoeWeber said:

Usually there is at least 20% down and, unless there are other pledged assets, solid market data to support the purchase price. If you have no long term track record of growth they may not want to kick the can down the road to an uncertain future. They might see it as better to seize it and wholesale it now.

Yes, you can never predict what the bank may do under pressure. It mostly has to do with how strong the bank is and what its needs are. And most importantly, how strong they think the borrower is.

Share this post


Link to post
Share on other sites
1 minute ago, gowlerk said:

Yes, you can never predict what the bank may do under pressure. It mostly has to do with how strong the bank is and what its needs are. And most importantly, how strong they think the borrower is.

The borrower is weak if they need to do anything. They aren't dumb nor charitable unless forced into it. And, if there is a co-signer they may say sell to protect their assets. Like I said, if you can not take a year of pain you will very likely have real problems. Also, early on in the loan cycle a lot of the payment is interest. 

Share this post


Link to post
Share on other sites
2 minutes ago, JoeWeber said:

The borrower is weak if they need to do anything. They aren't dumb nor charitable unless forced into it. And, if there is a co-signer they may say sell to protect their assets. Like I said, if you can not take a year of pain you will very likely have real problems. Also, early on in the loan cycle a lot of the payment is interest. 

Yes, if your loans outstanding are more than 50% of what your assets are worth on the open market the bank is going to see you as shakey. A co-signer may want a sale. But finding a buyer at this time is going to be difficult. If a buyer was available there would essentially not be a problem.

Share this post


Link to post
Share on other sites
1 minute ago, gowlerk said:

Yes, if your loans outstanding are more than 50% of what your assets are worth on the open market the bank is going to see you as shakey. A co-signer may want a sale. But finding a buyer at this time is going to be difficult. If a buyer was available there would essentially not be a problem.

Not really. I know airplanes and have been an investor in the market for 30 years. I'll take a bargain off the market in a heartbeat. There are others like me. 

Share this post


Link to post
Share on other sites
7 minutes ago, JoeWeber said:

Not really. I know airplanes and have been an investor in the market for 30 years. I'll take a bargain off the market in a heartbeat. There are others like me. 

I should also point out that because I've been around and am an A list borrower I get calls from lenders I've worked with both to confirm valuations on loans they're contemplating and to see if I have interest in something they need to move. Some stuff never gets advertised.

Share this post


Link to post
Share on other sites
44 minutes ago, mark said:

I think it could be done with a little bit of harness modification.

I like the idea of a harness that keeps the student six feet away! It reminds me of the old joke about the blind jumper and the seeing eye dog.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

0