xo jet problems

[rufus]

Problems or furloughs. I heard from a really good friend over there that they are giving guys the boot. I hate to see pilots losing jobs. Say it is not so

 

[X-rated]

Problems or furloughs. I heard from a really good friend over there that they are giving guys the boot. I hate to see pilots losing jobs. Say it is not so

It's not so. No pilots will lose their jobs. In fact, we are still growing at an alarming pace.

A few office staff were trimmed due to over hiring and excess infrastructure. No pilots or flight operations folks were or will be affected. XOJET is incredibly well positioned with a ton of cash in the bank and billions in equity financing. We are in very good shape to face the poor economy.

 

[jonjuan]

It's not so. No pilots will lose their jobs. In fact, we are still growing at an alarming pace.

A few office staff were trimmed due to over hiring and excess infrastructure. No pilots or flight operations folks were or will be affected. XOJET is incredibly well positioned with a ton of cash in the bank and billions in equity financing. We are in very good shape to face the poor economy.

You have to actually sell planes to grow, not just take delivery of aircraft. The only real difference between XO and traditional fractional is the charter piece and right now charter is way down across the biz jet industry.

 

[flyzimex]

Comforting words to read for all us wannabes.

 

[o2bflyn]

It's not so. No pilots will lose their jobs. In fact, we are still growing at an alarming pace.

A few office staff were trimmed due to over hiring and excess infrastructure. No pilots or flight operations folks were or will be affected. XOJET is incredibly well positioned with a ton of cash in the bank and billions in equity financing. We are in very good shape to face the poor economy.

Please correct me if I am wrong.....isn't most of the cash you have ear marked for middle east expansion. Not trying to start a riot....just what I have heard through the grapevine.

 

[flyzimex]

Please correct me if I am wrong.....isn't most of the cash you have ear marked for middle east expansion. Not trying to start a riot....just what I have heard through the grapevine.

This is just my own outside observation, but from what I udnerstand the plan in the ME is having about 20 frames flying over there. Don't think they would eat up all of that $2.5B..

As usual, I may be completely wrong.

 

[o2bflyn]

This is just my own outside observation, but from what I udnerstand the plan in the ME is having about 20 frames flying over there. Don't think they would eat up all of that $2.5B..

As usual, I may be completely wrong.

your probably right if only 20 airframes....even with setting up infrastructure ( ops center, etc...) they probably wont hit that number.

 

[X-rated]

Please correct me if I am wrong.....isn't most of the cash you have ear marked for middle east expansion. Not trying to start a riot....just what I have heard through the grapevine.

The money can be used wherever XOJET management thinks it is best spent. There is plenty to go around.

 

[o2bflyn]

The money can be used wherever XOJET management thinks it is best spent. There is plenty to go around.

I am sure it can, but I had just heard thru the rumor mill that they were aiming at expanions in the Middle East. I guess because that's where the investors were.....like I said, just a rumor.

 

[t-bone]

Just to clarify, it was 12 non-essential administrative positions that were cut. Even in a good economy, these positions were excessive. And as was already stated, the operational side of the house has been unaffected by these changes.

Please get all the facts straight before posting alarmist threads like this.

 

[OPECJet]

Just to clarify, it was 12 non-essential administrative positions that were cut. Even in a good economy, these positions were excessive. And as was already stated, the operational side of the house has been unaffected by these changes.

Please get all the facts straight before posting alarmist threads like this.

Looks to me like the purpose of the post WAS to get the facts straight. Lighten up Francis...

I doubt anyone out here wants to see anymore pilots furlough no matter where they come from.

 

[t-bone]

Looks to me like the purpose of the post WAS to get the facts straight. Lighten up Francis...

I doubt anyone out here wants to see anymore pilots furlough no matter where they come from.

There has not been any talk of furloughs. There has not been any talk of pilots losing their jobs. Implying that there was can cause undue alarm. Don't post something on here just to get the pot stirred up, unless you can substantiate it.

 

[ProFracPilot]

Don't post something on here just to get the pot stirred up, unless you can substantiate it.

OKAY! No pilots furloughs at XO. We get it. You really need to take a chill-pill, 'bone. NO one has posted anyting "on here just to get the pot stirred up".

Further, if life is as rosy in your house as you claim it to be (and I have no reason to believe otherwise)then this type of rumor just goes away.

Get over yourself.

 

[t-bone]

Sorry guys, just trying to dispell rumors before they get out of hand. Thanks for the reality check.

 

[Diesel]

Wouldn't be the first time the Pilots are the last to find out.

 

[OPECJet]

Sorry guys, just trying to dispell rumors before they get out of hand. Thanks for the reality check.

It's cool man.:beer:

 

[NJAowner]

Billions in Equity

X-Rated -- I do not think XO has "billions in equity" from what I have read from various sources which do not include this board. XO Jets has received millions (with an "m") in equity and over a billion in credit will be available to purchase planes (and I can tell you that there a just one or two or a few more conditions tied to those credit facilities).

But you do have some good backing but they are not infalliable.

Good luck

Fly safe.

 

[X-rated]

X-Rated -- I do not think XO has "billions in equity" from what I have read from various sources which do not include this board. XO Jets has received millions (with an "m") in equity and over a billion in credit will be available to purchase planes (and I can tell you that there a just one or two or a few more conditions tied to those credit facilities).

But you do have some good backing but they are not infalliable.

Good luck

Fly safe.

Thanks NJOwner, but I said equity financing. 900M from the Canadian govt and 1.5 Billian with a "B" from Tasameem U.A.E., and 700 million from various other sources. I'm sure there are conditions, but what makes you think we are not meeting those conditions? Like I said, 3.1 Billion dollars available for equity financing plus hundreds of millions of cash in the bank! I'm not sure I understand the point of your post?

 

[skiandsurf]

Wouldn't be the first time the Pilots are the last to find out.

Its kind of scary when pilots think they know EVERYTHING about their company. I remember right after the olympics, I was talking to an XOJet pilot. He was telling me that they had a trip to Beijing. He seemed to know, who it was, how much they paid, and how much profit was made.

Its gotta make you wonder whats going on when the company is giving out that much info to the pilots.

(To verify my story... and since I dont work there, I can say it was a basketball player, that plays in the So Cal area).

 

[clydefastly]

Its kind of scary when pilots think they know EVERYTHING about their company. I remember right after the olympics, I was talking to an XOJet pilot. He was telling me that they had a trip to Beijing. He seemed to know, who it was, how much they paid, and how much profit was made.

Its gotta make you wonder whats going on when the company is giving out that much info to the pilots.

(To verify my story... and since I dont work there, I can say it was a basketball player, that plays in the So Cal area).

It isn't that unusual for some of the info you mentioned to get to the flight crew. We will obviously know who we are flying. And if out of curiosity the crew asks what it costs to fly a X from SFO to Beijing, and if it is profitable, why not? Owner information and costs might have a tighter lid, but charter flights are a different story.

We don't know everything about our company, but a good amount of info is shared with the pilot group. There have been many instances where pilots have helped improve our product because they were in the know, and their suggestions were shared with the decision makers.

We do have some pilots in leadership positions that at times have direct contact with the CEO and the Board of Directors at meetings, and they do get to share some of the info from those meetings with the rest of the pilot group.

It is a different culture here. We are still "need to know", but our mgmt thinks we should know more of what is going on, as compared to other fracs and charter companies.