Best kept secret

[buttercup]

SChrode,


Do you really think Netjets is the best kept secret in aviation ROFLMAO!!!!!!!!! Jetblue, Southwest, and Airtran= The best kept secrets in aviation!!

 

[flexlrpilot357]

They sure are the best kept secret!

A captain starts at $37,560 (except for the BBJ), receives $60,984 after five years and continues to increase to a maximum of $95,784 at year 14. NetJets Gulfstream pilots work for a separate company, NetJets International, and are not members of the union.

The best kept secret red-headed stepchildren of aviation!

Of course, that's not counting the overtime, of which a pilot can make up to $60K/yr., provided they have the appropriate PayPal account set up. Or has that program been halted?

Meanwhile, NetJets lost $41 million in 2003, according to Buffett. The company had a “modest operating profit” in the U.S., but this was more than offset by a $32 million loss on aircraft inventory and by continued losses in Europe. The $32 million loss NetJets took last year occurred because of falling prices for used aircraft early in the year

How ya'all gonna pay for 200% pay raises with all that money going out the front door and all those extra airplanes sitting around?

Now what's the deal with the Falcon checkride scandal??

 

[Live4flyng]

How ya'all gonna pay for 200% pay raises with all that money going out the front door and all those extra airplanes sitting around?

Dude, you are a piece of work. This really made me laugh, almost sounds like you got fired from NJA. "Ya'all" (I assume this is the pilot group you are referring to), ain't gonna have ta worry bout payin fur it, because "Ya'all" ain't writin da checks! That pay raise will come from the profitable U.S. operation of NJA that you posted yourself. Where exactly are the extra airplanes sitting that you are talking about? Oh, and one more thang, don't furget bout all dat money comin in da front door now, ya hear?

 

[flexlrpilot357]

Meanwhile, NetJets lost $41 million in 2003, according to Buffett. The company had a “modest operating profit” in the U.S., but this was more than offset by a $32 million loss on aircraft inventory (read: extra planes sitting around) and by continued losses in Europe. The $32 million loss NetJets took last year occurred because of falling prices for used aircraft early in the year

 

[Live4flyng]

The company had a “modest operating profit” in the U.S.,

Ya'allll wanna play a quote game all day?

(read: extra planes sitting around) and by continued losses in Europe.

NO NO NO..... See, that is where you are wrong Mr. Greenspan wanna be. Never read into anything that involves an unofficial financial public statement. This company does not release it's financial information to the public (read:flexlrpilot357). I could read the statement (NetJets lost $41 million in 2003) about 41 million different ways. Most importantly, how is the IRS going to read it?

You still have not told anyone where all those extra airplanes are sitting around. Taking a loss on the sale of a used airplane does not equate to "extra airplanes sitting around".

 

[flexlrpilot357]

Now what's the deal with the Falcon checkride scandal??

And what's the deal with paying off your crew schedulers for overtime with PayPal accounts?

 

[TailDraggerTed]

Now now Mr. Flexjet. Remember, pilots who live in glass hangars should never through stones.

Flexjet was the only fractional company to lose more owners than they gained in 2003.

Every fractional company fleet grew bigger in 2003, except for Flexjet.

In 2003, Bombardier aircraft lost its value faster than comparable aircraft from other business jet manuafacturers used by the factional companies

Flexjet has never made a profit for Bombardier

"FlexJet is also suffering through the pains of what the parent company [Bombardier] is going through in a down market.'' BCA 2003

Bombardier, the third largest civil aircraft maker after Boeing Co. (BA.N) and Airbus, has laid off more than 20 percent of its aerospace workforce of 36,000 over the last three years to rescue its bottom line from a severe industry slump.

 

[Lear70]

Flexjet has never made a profit for Bombardier

That's not entirely accurate.

When I worked there back in '98 and '99 they used to hold pilot meetings (read several hundred pilots in a big conference room with senior management) and they reiterated the same goals in both of those years: to break even. Yes, I said break even.

Fact was, they were operating several hundred thousand dollars in the red for the operational side of the Flexjet house. The sales side of the house was profitable to the tune of over $13 Million in '98, $15 Million in '99.

Flexjet never existed to make money as an operation, they existed as an operation to make money selling aircraft shares, and therefore the aircraft itself at full retail prices while minimizing losses from operating Flexjet as a business, and they have consistently remained profitable with this formula, at least until 2003.

Everything else you wrote is pretty much accurate and reflects an underlying business philosophy problem that isn't getting any better.

 

[flexlrpilot357]

Flexjet Operations is profitable. It's been so for a while now.

Now what's the deal with the Falcon check airman scandal?? Pencil-whipping checkrides??

And what's the deal with paying off your crew schedulers for overtime with PayPal accounts? Is that how you make $60K/yr in overtime?

 

[cgmason1]

Why have pilots been leaving FlexJet for NetJets.

Don't take this as a slam-I really want to know why.
Was it Management? Sched? 6/4-heard sometimes 6/2.
I know of at least three pilots that were at Flex between 2 - 3 years that quit and came to NetJets.

Fly Safe
Chuck