I’ve written extensively about bizarre Airbus A380 airline startup Global Airlines, which will somehow apparently have a couple of one-off flights later this month. Every time that I think Global Airlines can’t become stranger or more ridiculous, they just find a way to exceed my expectations. I don’t think I’ve ever been this entertained by an “airline” in my entire life.
In this post:
James Hogan becomes Global Airlines advisor & shareholder
Global Airlines has today announced that it has appointed Knighthood Global as a strategic advisor, to support the next stages of its development, and as part of this, the firm will become a shareholder in Global Airlines.
Knighthood Global is an investment firm founded by former Etihad CEO James Hogan, and former Etihad CFO James Rigney. These are the guys who led the company’s Etihad Airways Partners strategy, where we saw Etihad invest in airberlin, Air Serbia, Air Seychelles, Alitalia, and Jet Airways.
In the history of the airline industry, we’ve never seen such a bad return on investment on an equity investment strategy, as airberlin and Jet Airways liquidated, Etihad walked away from its stakes in Air Serbia and Alitalia, and Etihad sold its Air Seychelles stake to the government of the Seychelles for $1. “Invest billions, get a dollar,” isn’t exactly a great strategy. Hogan ultimately left Etihad after the airline lost nearly $5 billion in three years.
So these guys then started an investment firm, and now they’re going to be Global Airlines shareholders. I mean, I guess all of this tracks. I’m just confused, was Fyre Festival’s Billy McFarland not available?
Of course if you look at Hogan’s bio on the Knighthood Global website, it paints a very different picture:
He previously served as Group President and Chief Executive of the Etihad Aviation Group where he oversaw the development of Etihad Airways from a USD 300 million airline and its transformation into a travel and tourism group valued at more than USD 20 billion, achieving the mandate from his shareholders to build a world-class diversified aviation and travel group, and securing profitability for five consecutive years from 2011 to 2015.
I don’t even know which part of that statement is most outlandish, but I’ll just focus on one. He transformed Etihad into a company valued at more than $20 billion?!?
Etihad has hugely improved its financial performance in the eight years since Hogan left the company, and Etihad is now considering an IPO with a $5 billion valuation. But we’re supposed to believe that the company was worth $20 billion eight years ago, at a time when it was losing $5 billion in three years?
Don’t worry, big things are coming for Global Airlines!
Here’s how the Global Airlines press release describes the plans, now that Hogan and Rigney are onboard:
Global Founder and CEO, James Asquith, will work closely with Knighthood industry veterans, James Hogan and James Rigney, who will provide key strategic advice and support, adding significant executive experience across Global’s finance and operations divisions, and supporting Global in raising finance. Knighthood will also become a shareholder in Global and will focus on the strategy for the next chapters of building the Global business, while progressing the UK AOC application.
Global intends to introduce further widebody aircraft in 2025 before announcing a timeline for scheduled operations. During the past year, Global has successfully inducted one A380 into service, and is now progressing with the acquisitions of further A380 aircraft scheduled for entry into service.
The appointment of the Knighthood Global team as key partners and strategic advisers to the board and executive team at Global highlights another key milestone in building the best team in aviation to drive the ambitious Global vision in the years ahead. As the first Global owned A380 prepares to take to the skies with its first passengers, the Global team and partners have achieved what many thought was impossible and are now focused on the next phase of development.
Global Airlines now expects to expand its fleet beyond one A380? I mean, how many times can you announce the same thing? Roughly two years ago, in 2023, Global Airlines claimed it had entered into an agreement for four A380s, to launch scheduled operations in the spring of 2024:
Global Airlines, the world’s newest long-haul airline, has announced that it has entered into an agreement to acquire a further three A380s. With the purchase of these aircraft, the airline’s fleet development reaches a new milestone with four A380s now lined up for the start of operations in Spring 2024.
Bottom line
Knighthood Global is now an advisor to and shareholder of Global Airlines. The people behind that company are James Hogan and James Rigney, who led Etihad’s investment strategy, which lost the airline nearly $5 billion, and ended in complete failure. Fact really is stranger than fiction, eh?
What do you make of this development?
If Hogan is involved, this is definitely a scam lol
I've just. Arrived at Barcelona and Globals 380 is here!
I've just. Arrived at Barcelona and Globals 380 is here!
Global?
Again???
Global by now reminds me of a steam locomotive where the drivers uses more steam blowing the whistle than for driving the engine…
Toot, toot…
B.
I suspect the wording here is very sneaky when they say these guys “will become shareholders” in Global. I believe the company wants people to think that Knighthood is investing cash in Global, and that’s supposed to be a vote of confidence. And who knows, maybe that’s indeed the case. But I wouldn’t be surprised if “become shareholders” actually means that Knighthood is just getting some token equity options in exchange for being advisors.
Eventually, someone is doing prison time, but that's eventually. For now relax, sit back, and enjoy the flight.
Maybe they can split a cell with whomever is behind the ongoing joke that is Boom Supersonic?
Your obsession with this airline is a bit weird, like ok we get it, things are finicky, but repeatedly calling them out is gross and just an awkward use of time and resources at this point.
Says who, you? Well that's hardly an objective or authoritative source, now is it?
Did it ever occur to you that plenty readers might find this fascinating? After all, the blogger can see the engagement stats.
I expect that they have Trevor Jacob lined up as their chief pilot.
Ben, taking the inaugural Global Airlines flight is the apex of your points/miles blogging career. Hard to face but completely necessary and cements your legacy.
Be the hero we need in 2025.
Exactly. I cannot think of a more anticipated flight review you could do this year.
I get wanting to get a seat on a "new airline" inaugural flight. If you have purchased any tickets, Global they thank you for your charitable donation, or otherwise know as lightning your money on fire.
I have never seen so many people actually believing in this money laundering scheme
If you're wondering, you can book the inaugural flight on the website, but that's it. No current plan of future flights.
With Hogan on board, Nicole Kidman and Dannii Minogue can’t be far behind as spokespeople!
As said in ‘The Producers’ — a dishonest person may be able to make more money with a flop than a hit.
Global have slashed the price of the Manchester flight to £350 return ! I’m so tempted to do it just for a laugh. Oh and business return is £2k
Where is this Jay still looking at £3.7k when I look?
Apparently they are handing out discounts via their Instagram page.
and there goes the last little bit of hope for this airline
James Asquith interviewed in todays London Daily Telegraph - https://archive.is/VlQNZ
Cannot stand him. I spoke to him once and he’s full of himself. Also dressing up in onesies and clowning about when he flies like a 5 year old.
It's delusional self-confidence, which is very common in investment banker or entrepreneurial types who fancy themselves as big shots.
I never had the (dis)pleasure of meeting him but used to follow him on Instagram, mainly because he was close to another UK-based reviewer I liked, but unfollowed after a short while mainly because of his constant "humblebragging", complaints and entitlement.
Sounds like a great fit, given the talent these guys had for lighting money on fire at Etihad, with an update of McKinsey's "hunter" strategy for Swissair.
They should rename it, James Airlines for all the James involved
Etihad Airways Partners has precedent. It was so much like when Swissair did The Qualiflyer Group. Emirates is our era's Pan Am and Etihad (at least under Hogan was) Swissair.
I'd love if Ben also called out some of the aviation creeps more worthy of being called out, like Doug Parker, Alex Cruz or Robert Milton.
Must be April 1st