UNITED AVIATION GROUP: JONATHAN WOLPE HAS MONEY JUST FOR SHOW-OFFS
The UNITED FLIGHT SUPPORT (South Africa) case is very representative for the aviation market. It illustrates the most common behavior of debtor company owners. Their attitude towards their debts, and their main motivation in business which is just show-offs.
Cynicism, boorish attitude towards those who are “useless” and the desire to throw dust in the eyes of those who are “useful” is a fairly common phenomenon in business, isn’t it? The owner of UNITED AVIATION GROUP (which includes United Flight Support) Jonathan Wolpe demonstrated this in all its glory. But first things first.
Like many other defaulters, United Flight Support management ignored all notifications from the administration of the BLACKLIST.AERO Registry. Debts in the amount of USD 259,111 and EUR 53,253 did not really bother them. And are these the only debts of the United Aviation Group and UFS itself?..
However, when the BLACKLIST.AERO Operation team began to inform the partners of the United Flight Support company about the existence of its debts, they bothered a lot. It has bothered them so much that the owner of UAG Jonathan Wolpe called the Operations Director at BLACKLIST.AERO with a desire to quickly shut our mouth.
His position reflects all the cynicism of defaulters that we constantly have to face: “The debt will be repaid when we have the means for this and when I deem it necessary!”
Of course, he did not fail to say that “we cannot judge him” and he does not intend to discuss his debts with BLACKLIST.AERO.
“Where is the cynicism?”, you ask, “If there are no means to repay now?!”
Jonathan Wolpe is accustomed to complaining about the lack of money to his creditors, from whom he can no longer get anything. But to those from whom he just wants to receive new funds, Jonathan Wolpe shows himself as a big businessman, patron and philanthropist.
Jonathan has the money to organize the UAG Derby. He likes to post photos on a horse in the rider's uniform. What can I say, a man has a good hobby! Only it is costly. And, judging by the debts of United Flight Support, Jonathan takes money for his hobby from the aviation business.
In addition to the derby, Jonathan and the United Aviation Group are also the organizer of a tournament with the pompous name “League of Champions by UAG”. So in fact, there is just a lot of show-offs! Except that... “We’ll pay when we can!”
Currently, United Aviation Group includes the following companies:
United Flight Support
United Charter Services
United Aircraft Sales
United Aircraft Maintenance
Owen Air
This set of companies sounds nice and solid. However, the experience of many other cases from our Register suggests that behind this soap bubble of a scattering of companies there is something that looks more like a trap for gullible investors than a sustainable business.
The editors of the BLACKLIST.AERO Registry urge all aviators NOT TO COOPERATE with all companies owned by Jonathan Wolpe until he pays off his debts in the aviation market.
Well unless, of course, you are a horse...
A criminal investigation has been opened into suspected fraud involving the management of SIA Smartlynx Airlines and the alleged fictitious sale of the airline to a new owner. BLACKLIST.AERO learned this information from a source familiar with the investigation. The case was initiated after a complaint was filed with the police by one of the creditors. It is also possible that additional complaints have been submitted by other defrauded counterparties of Smartlynx.
Over the past week, investment analysts from companies holding Avia Solutions Group (ASG) bonds have contacted me twice, asking for a more detailed explanation of the SmartLynx bankruptcy. Their biggest concern is that the same situation could repeat with other companies within the ASG holding.
The covert bankruptcy—legally framed as a “restructuring”—of SIA SmartLynx Airlines (Latvia), along with the highly probable collapse of SmartLynx Malta and SmartLynx Estonia in the near future, has become more than just a landmark event for the aviation market. Its consequences may amount to a full-fledged default tsunami, triggering a cascade of multimillion-euro non-payments across the industry.
Every time I fly to Dubai for exhibitions, I witness the same scene outside the hotels. A Bugatti or Lamborghini pulls up to the entrance, the chauffeur steps out, and hands the wheel to someone walking out of the lobby. It looks predictable — after all, Dubai is exactly the place where many people dream of cruising down Sheikh Zayed Road in a hypercar, showing off status and wealth.
