flexjet

[livethedream]

just to change the subject from the usual NJA talk, how are things over with the bombardier group?

 

[ArtVandalay]

The new CEO we just hired scares me. Every place he's been is in shambles right now. However, every airline is in shambles right now. I'm not sure what they were thinking when they hired him but, hopefully they know something we don't. Only time will tell.

 

[netjetwife]

Best Wishes and Good Luck to the Flex pilots! NJW

 

[FastJP4]

Let's hope he changes his track record around - because prior to FlexJet - his record is..........well - not good. Replacing someone that turned the company around with the last 3 years being very good. Makes me wonder why he left for the postion he went to???...

 

[gret]

Virgin America fights to keep CEO Reid

Thursday April 12, 2007
Virgin America this week asked the US Dept. of Transportation to reconsider its ruling that CEO Fred Reid must have his employment with the airline terminated within 90 days of receipt of its certification.
When tentatively approving Virgin America last month, DOT took the company up on its January offer to remove Reid from the board or the company "if absolutely necessary." In March, DOT said Reid has "longstanding association with foreign investors [that] raised concerns about who would control the new carrier" (ATWOnline, March 21). It permitted him to act as a "follow-on" consultant for 180 days after removal.
Virgin America argued in a heavily redacted filing that it has made structural changes sufficiently profound as to render Reid's association with Virgin Group irrelevant. "The far-reaching changes offered by [the airline] and its investors in this filing, as well as the agreement by these parties to comply with new DOT conditions, constitute a fundamental and significant change in the totality of circumstances," Virgin's attorneys wrote.
The carrier agreed to remove one of three Virgin Group designees on the board, remove a "multitude" of Virgin Group veto or consent rights, amend the franchise agreement to allow the new airline to exist separately from the Virgin brand, place Virgin Group's voting equity interests under a DOT-approved trustee and add a further $30 million at-risk investment by US investors, among other concessions.
It asked DOT to "eliminate the requirement to remove the CEO, or, alternatively, if that is not possible, extend the tenure of the CEO to ensure the airline's successful launch and ramp-up in the face of what is expected to be a heavy competitive response from legacy airlines."

 

[johnsonrod]

Virgin America fights to keep CEO Reid

Thursday April 12, 2007
Virgin America this week asked the US Dept. of Transportation to reconsider its ruling that CEO Fred Reid must have his employment with the airline terminated within 90 days of receipt of its certification.
When tentatively approving Virgin America last month, DOT took the company up on its January offer to remove Reid from the board or the company "if absolutely necessary." In March, DOT said Reid has "longstanding association with foreign investors [that] raised concerns about who would control the new carrier" (ATWOnline, March 21). It permitted him to act as a "follow-on" consultant for 180 days after removal.
Virgin America argued in a heavily redacted filing that it has made structural changes sufficiently profound as to render Reid's association with Virgin Group irrelevant. "The far-reaching changes offered by [the airline] and its investors in this filing, as well as the agreement by these parties to comply with new DOT conditions, constitute a fundamental and significant change in the totality of circumstances," Virgin's attorneys wrote.
The carrier agreed to remove one of three Virgin Group designees on the board, remove a "multitude" of Virgin Group veto or consent rights, amend the franchise agreement to allow the new airline to exist separately from the Virgin brand, place Virgin Group's voting equity interests under a DOT-approved trustee and add a further $30 million at-risk investment by US investors, among other concessions.
It asked DOT to "eliminate the requirement to remove the CEO, or, alternatively, if that is not possible, extend the tenure of the CEO to ensure the airline's successful launch and ramp-up in the face of what is expected to be a heavy competitive response from legacy airlines."

Was Fred GREED hired by Flexjet? Watch out - he might order 100s of RJs for Flexjet next...

 

[Fly2AK]

Aside from the new CEO, what else is happening over there with FlexJet? Hiring? Airplanes? Bases? Pay?

 

[Whale Rider]

I have a feeling ol' Freddy boy's tenure is going to be short.......real short!

 

[swamprat]

Is Dave Gross still VP of operation there?

 

[Flex-ible]

Aside from the new CEO, what else is happening over there with FlexJet? Hiring? Airplanes? Bases? Pay?

- Hiring, but slowly. Lots of applications from the furloughed and soon-to-be.
- Adding Challenger 300's this year. Other new planes will be mostly swaps for expiring contracts. Some new 605's.
- Lots of talk, no action on bases. Why should they botherwith so many pilots looking for work?
- Big raise in May, most still happy with it. Gripes about health insurance, daily O/T, and first/last day work rules continue.

Still a great place to be.