Feels good to be profitable again!!!

[CRJFlyer]

Word is that 1st qtr results look very positive this year so far

Word is my 401k may never fully recover from the 3+ year lag I'm experiencing now..(So much for buying low)

My bank acoount will slowly be dwindling the next 2 years until it's 0.

And my home life has been, well lets just say it's not pretty...

But I'm glad for NJA and DS..wait did that sound bitter

 

[rajflyboy]

Word is my 401k may never fully recover from the 3+ year lag I'm experiencing now..(So much for buying low)

My bank acoount will slowly be dwindling the next 2 years until it's 0.

And my home life has been, well lets just say it's not pretty...

But I'm glad for NJA and DS..wait did that sound bitter

I hope we can hire back everyone we put on the streets. Thats my goal for sure. We lost a lot of great guys with the furlough.

 

[CALRepublic]

yes but

What Netflier forgot to say was:

Those profits came from the outstanding job that EJM has done this past year!!

I think EJM and Marquis are coming thru for us. flying is increasing, it is NOT the same as "1st quarter 2009".... B*llS**t

(Netflier, next time don't forget to mention the name of the company you're talking about)

 

[BeenThereDoneIt]

Is this a true profit, or are you using "Operating Income" as your claim for profit like one of your competitors does? Just curious.

 

[jtf]

It should be true profit as long as the numbers they told us recently are true- that being quite a few new sales this year. As long as we sell more shares than the amount that get turned in, it will be true profit. Before Sokol the operations were a losing proposition for us and we had to sell, sell, sell to make money. Now operations make a profit also so hopefully the sales team will continue to do a good job and pilots will be back sooner than they thought.

 

[RP170]

Now operations make a profit also so hopefully the sales team will continue to do a good job and pilots will be back sooner than they thought.

We'll only be back if they order some new aircraft. Getting rid of over 100 aircraft isn't going to bring anyone back within the next 5 years.

 

[AZaviator]

We'll only be back if they order some new aircraft. Getting rid of over 100 aircraft isn't going to bring anyone back within the next 5 years.

My thoughts exactly!

 

[Pervis]

We'll only be back if they order some new aircraft. Getting rid of over 100 aircraft isn't going to bring anyone back within the next 5 years.

We did not get rid of many at all. We bought back a bunch, which will only add to our profits when we sell them, either in shares or after market sales. We only reduced a little over 20 a/c from our peak of over 500 in 2008 in all of NJ North America through attrition. We do have a number of fleets in disposal, which is normal from time to time. Remember the CE 650, Citation II, and Hawker 1000?

Dassault talks about Netjets in this week's AW&ST. Although we cancelled order book positions after 2014, they expect, after discussions with DS, to see those orders restored when recovery hits full steam. Dassault officials signaled they are not overly concerned about those cancelations.

I know this doesn't help the furloughed pilots in the short term, but there are more and more indicators of market improvements. Increasing sales, demand, and reduction in waste will bring those folks back sooner rather than later.

 

[rajflyboy]

Netjets has actually gained customer shares in Aircraft in the first qtr.

Things are turning around in sales.

 

[Mike Jenvey]

Fleet disposal???

That could be $77M back in the pot (less shares, etc, etc).

 

[rajflyboy]

Fleet disposal???

That could be $77M back in the pot (less shares, etc, etc).

It would be nice to sell both of these aircraft!

 

[BeenThereDoneIt]

Are there REALLY NJ pilots who are willing to wait YEARS and still come back?

 

[OPECJet]

Are there REALLY NJ pilots who are willing to wait YEARS and still come back?

That will depend on whether I get sold out or not. They way I see it, I'm looking at 10+ years to get a recall given current events and attrition. Both are always subject to change of course so my guess could go up or down.

I can tell you this much.. I love my wife, but if she went to prison, I doubt I'd wait that long to wet the carrot again.

 

[amaineiac]

Are there REALLY NJ pilots who are willing to wait YEARS and still come back?

It depends on what I find between now and a recall. I don't know of anyone that is just waiting around for a recall. Everyone I know is looking for a career job and doing what they can to pay the bills. It's not like there are a lot of great jobs out there right now, and there are a lot of very qualified pilots all going after the same jobs.

 

[CRJFlyer]

Netjets has actually gained customer shares in Aircraft in the first qtr.

Things are turning around in sales.

Is this a question or a statement of fact? If fact, where did u hear this? Recurrent, out online? Just curious since we get no indications of what is going on.

Thanks

Also for all the NJA know-it-alls...Approximately how many customers/shares or any combination, are we short..Basically if sales outperform expired contracts, how many or at what rate would it take to get maybe the first recall? (I know it's a dumb question!)..

I doubt anyone over at HQ expected to have sales outperform losses so soon. If it's true of course. Say we have some explosive sales months for the next 6-12 months. what is the view then?