FlexJet rumors?

[ultrarunner]

What's the latest at FlexJet? A friend of mine told me that a buddy of his was laid off prior to completing training, and was pretty sure he was at FlexJet. We're currently looking at Lear 60's right now, and they stopped delivery on one -60 and are actively looking for a buyer for another -60 they are obligated to take delivery on.

My guy feeling tells me something might be happening, and that it might be wise to sit tight on a plane purchase, as quite a few more might get dumped on the market.

Any thoughts?

 

[flexlrpilot357]

Flexjet is quite healthy, thankfully. Sales (and hence growth) could be better, of course. But the company is operating at a slim operational profit. (knock on wood)

No pilots have been "laid off" in well over a year (Oct. 2001). I'm sure some have been let go for other than strictly business-related reasons.

I can't comment intelligently on the 60 delivery, but it doesn't sound significant to me. Though the aircraft delivery and usage decision making is an arcane and unknown aspect of the business to me, I do know that sometimes they rotate the airplanes they're flying to evenly distribute usage, sometimes they shuffle delivery dates for new airplanes for various reasons.

I also know we've received new airplanes in recent months, and I've heard (from management) that there will probably be more hiring in the coming months.

 

[slickmagneto]

Flex has been dumping used airplanes on the market for quite some time. So many that the 60 market became flooded and the used prices were in the 5.5 to 6.5 million, normally 9 to 11m.

If you're buying, the ball is in your court.
A large amount of good corp. airplanes are available in this slow economy.
Nearly standup cabin, long range, cheap to operate.
What more could a pilot or owner ask for?

 

[BigFlyr]

The way all the fractionals are dumping used aircraft on the market is bound to have long term effects on the resale value of used aircraft. Buyers must keep in mind however that the average ex-fractional airplane will have much more time and cycles on the airframe than a corporate owned airplane.

As for ex-Flex Lear 60's... You see them all over the place. I wish they would at least paint them in different colors!

 

[flexlrpilot357]

I don't know about "dumping" them on the market. They do exit the program when they're too old. What happens to them then is up to the market. toe-mae-toe/toe-mah-toe?

 

[gump88]

The way all the fractionals are dumping used aircraft on the market is bound to have long term effects on the resale value of used aircraft. Buyers must keep in mind however that the average ex-fractional airplane will have much more time and cycles on the airframe than a corporate owned airplane.

As for ex-Flex Lear 60's... You see them all over the place. I wish they would at least paint them in different colors!

Hey Big!!!

You bring the paint and I will bring the beer!!!!!!! We will have a Lear painting party!!!!!! hahahahahahaha


^5 my friend!!!

gump

 

[DECOMPRESSED]

The question I have is who wants to sit right seat for three years plus waiting on an upgrade? I know several who have yet to upgrade who all have plenty of time. This is pre 9/11 days too. Any comment?

 

[Lrjet55]

This is the problem for the fracs in the forseable future. Too many pilots are debating whether to come to a frac based on upgrade time. You dont go to an airline based on the upgrade time so what makes a pilot think they should upgrade so quickly elsewhere. I understand the money is considerably greater at an airline so I suppose it is worth the wait. Hopefully the fracs will increase their salaries and therefore this making this a non issue.

 

[DECOMPRESSED]

It's just a bit frustrating to know that I could probably get hired at Flex, but I can't $afford$ to wait on an upgrade for 3 years. 1 or 2 years probably. The bottom line is, the economy stinks and until it turns around their will be no peace.

 

[Lrjet55]

DECOMPRESSED,

I feel your pain. Im a captain and probably make as much as an FO at most other Fracs. I would just like to see the business turn into a future for new pilots rather than a stepping ston or a safety net.