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16-415: CCAir was created on or about February 15, 1986 when Sunbird Airlines was renamed. Operating as a Piedmont Commuter / USAir Express code-sharing partner, its radio call sign was "Carolina". The CC stood for Carolina Commuter. Most of the employees were local people who were extremely loyal to the company. CCAir (beginning as predecessor Sunbird Airlines ) had experienced a tremendous period of growth in

32-586: A code-sharing agreement was reached with Piedmont Airlines for Sunbird to begin operations as Piedmont Commuter at the Charlotte Piedmont hub on or about May 1, 1985. At this time, the "Sunbird" radio callsign was lost to history, and the Sunbird/Piedmont Commuter flights were under the "Carolina" call. On or about February 15, 1986, the company was renamed CCAir . Divest In finance and economics , divestment or divestiture

48-616: A fleet of Cessna 402 "Businessliner" piston-engined aircraft as well as Beech 99 and Short 330 commuter turboprops. After the changeover to CCAIR the Cessna were retired and the Short 330's were replaced by the new Shorts 360 . CCAir also acquired the British Aerospace BAe Jetstream 32 , a pressurized turboprop aircraft which proved a poor choice as most flights were operated under 10,000 feet and maintenance costs were high. In

64-582: Is a process of selling an asset. The largest corporate divestiture in history was the 1984 U.S. Department of Justice -mandated breakup of the Bell System into AT&T and the seven Baby Bells . Of the 1000 largest global companies, those that are actively involved in both acquiring and divesting create as much as 1.5 to 4.7 percentage points higher shareholder returns than those primarily focused on acquisitions. Examples of divestment for social goals include: Some firms are using technology to facilitate

80-399: Is the reduction of some kind of asset for financial, ethical, or political objectives or sale of an existing business by a firm. A divestment is the opposite of an investment . Divestiture is an adaptive change and adjustment of a company's ownership and business portfolio made to confront with internal and external changes. Firms may have several motives for divestitures: Often the term

96-576: Is used as a means to grow financially in which a company sells off a business unit in order to focus their resources on a market it judges to be more profitable, or promising. Sometimes, such an action can be a spin-off . In the United States, divestment of certain parts of a company can occur when required by the Federal Trade Commission before a merger with another firm is approved. A company can divest assets to wholly owned subsidiaries. It

112-619: The Cessna 404 aircraft, the company shared equipment, operations, maintenance and facilities with parent company Mountain Air Cargo founded by Ralph Quinlan. In 1983, Sunbird acquired the Beechcraft C99 turboprop aircraft, and was the launch customer for the -C model (larger baggage pod, etc.). Also in 1983, Mountain Air acquired Atlanta Express , and merged this operation with that of Sunbird. Sunbird

128-686: The company now known as Atlantic Southeast Airlines . On the completion of the Sunbird purchase, Hagerty moved the entire Sunbird operation to the Charlotte/Douglas International Airport in Charlotte, NC . Under the period of Hagerty ownership, the company was known as Sunbird Airlines 1984, Inc. With the Hagerty leadership, a program of aggressive growth began. New cities were added, and the acquisition of Short 330 aircraft began. In 1985,

144-456: The ground handling service with US Airways Express. Also several cities in North Carolina, Hickory , Southern Pines / Pinehurst , Kinston and Rocky Mount lost their air service, which was flown by CCAir. The CCAir pilots resisted many offers to take pay cuts and deep concessions to have the chance for growth and flying regional jets. Ornstein slowly started making changes to CCAir. First

160-722: The high-maintenance Jetstream 32s were grounded and Mesa's Beech 1900s were brought in to replace the Jetstreams. Finally, in 2002, a deep concessionary agreement was proposed to the CCAir pilots. When voted upon and ratified, Air Line Pilots Association (ALPA) president, Duane Woerth promised the CCAir pilots he would sign off on the agreement, but reneged when he felt the agreement was too concessionary in nature. A few pilots attempted to sue ALPA in federal court in Charlotte, but US District Court Judge Graham Muellen upheld ALPA's decision not to allow

176-459: The mid-90s code-sharing partner US Airways directed CCAir to begin the acquisition of DeHavilland Canada Dash 8 aircraft. In 1999, Mesa Air Group acquired CCAir. Under Mesa CEO Jonathan Ornstein, CCAir and Mesa were operated as separate airlines. Some CCAir gate/ticket agents and ground handlers attempted to unionize, but the vote was narrowly against representation. Ornstein promised to work with ground personnel, but shortly thereafter canceled

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192-462: The new collective bargaining agreement to take effect. On November 4, 2002, CCAir ceased operations. Most CCAir pilots found employment with Mesa and Mesa's collective bargaining agreement in their respective operations. Sunbird Airlines Sunbird Airlines was a United States airline founded by Ralph Quinlan in Denver, North Carolina on November 15, 1979. Operating the Cessna 402 , and later

208-454: The process of divesting some divisions. They post the information about any division that they wish to sell on their website so that it is available to any firm that may be interested in buying the division. For example, Alcoa has established an online showroom of the divisions that are for sale. By communicating the information online, Alcoa has reduced its hotel, travel, and meeting expenses. Firms use transitional service agreements to increase

224-490: The strategic benefits of divestitures. Divestment execution includes five critical work streams: governance, tax, carve-out financial statements, deal-basis information, and operational separation. Companies often create cross-disciplined teams composed of IT, HR, legal, tax, and other key business units, to implement a business separation. With economic liberalization of the Indian economy , India's Ministry of Finance set up

240-543: The years 1985–1987. With the Piedmont/ USAir merger in 1989, the company experienced a tremendous change in the compensation arrangements with their senior partner. These problems eventually led to the company filing bankruptcy in order to protect themselves from creditors. Former CEO Ken Gann, was responsible for turning around the airline and restructuring it. CCAir was the first commuter airline to ever enter Chapter 11 bankruptcy and emerge profitable. CCAir began with

256-401: Was only marginally successful those initial years, managing only because of the shared facilities of the parent. Through the various cycles of the parent company, the decision was made in late 1983 to divest the Sunbird operation to Roy Hagerty. Mr Hagerty had financing, and previous airline experience, he being one of the creators of Southeastern Airlines . That company later was absorbed into

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