Success Story A General Aviation & Fixed Based Operator

1. Return to Home Page Success StoryA General Aviation &Fixed Based Operator

2. Return to Home Page Success StoryA Fixed Based Operator ... The following study was done for a Midwestern USA Fixed Based Operator (FBO): • Company BIO • Annual Revenues: $7 million • Multiple Transportation Products • Executive Charter (Passenger & Freight) • Air Ambulance • Flight School • Aircraft Maintenance • Office/Hangar Rental • Aircraft sales and brokering • Ground Services: Fuel, Parts, Deicing, and Catering

3. Return to Home Page Success StoryA Fixed Based Operator ... • Challenges: • Merge FBO purchase into corporate operating unit • FBO/General Aviation purchase – new venture for parent Airline • Corporate structure -- new environment for FBO management • Automate manual/paper operations • Convert hand written invoices, work orders and other customer documents to system generated • Replace manually prepared ledgers to an accounting system • Provide decision making information tools

4. Return to Home Page Success StoryA Fixed Based Operator ... • Problem definition • Lack of management expertise: • Integrating company infrastructures • Using or evaluating system automation benefits • Lack of automation: • Paper/cash register inputs for all monetary and tracking activities impaired timeliness & accuracy of operating performance • Accounting/finance department focused on processing rather than controls and and decision making tools • Planning was not supported with data

5. Return to Home Page Success StoryA Fixed Based Operator ... • Experts were hired to • Evaluate the current situation • Provide facts • Recommend actions • Implement recommendations

6. Return to Home Page Success StoryA Fixed Based Operator ... • Short term solutions implemented • Implemented parent company’s accounting and budget systems • Developed and implemented fixed asset tracking system • Created asset acquisition model to evaluate major purchases using discounted cash flows and “buy versus lease” scenarios • Implemented inter-company process to manage financial activities between the FBO and parent

7. Return to Home Page Success StoryA Fixed Based Operator ... • Long term solutions implemented • Evaluated various point-of-sale FBO systems • Selected and implemented system to replace parent’s accounting and budget system • Converted manual accounting processes to new system • Automated customer sales activities: Retail, Aircraft Maintenance, Executive Charter, Flight School & Aircraft Sales

8. Return to Home Page Success StoryA Fixed Based Operator ... • Long term solutions proposed • Automate accounting interface between FBO and parent • Develop Profitability model: • Performance evaluations on lines of service • “What If ” evaluations: • Budgeting and Forecasting • Major sales events

9. Return to Home Page Success StoryA Fixed Based Operator ... • Implemented point-of-sale system for all products • Developed models to support accounting, financial analysis and joint FBO/customer investment decisions • Established budget for performance reporting and forecasting

10. Return to Home Page Goss & Associates Facsimile : 317-213-3757 Email: joseph.goss@gmail.com