Great News!! Flight Options Has Been Bought!!!!!

[Fozzy]

Personally, I have no horse in this race. But, I would feel much more secure as a pilot than I would as a manager. All of management is trying to justify their existence right now. You must do everything possible to show the new boss how well these folks screw up day in and out.
Hell Ford and Harrision may be on notice.
Time to take the pressure up a few notches. Now is the time. Make them scared.

 

[Frac Cap]

Well, I too am optimistic. I know H.I.G. must be shrewed investors, and their intention is to grow us in a time of prosperity. This growth has as of yet been unrealized by our current management, either out of fear of messing with their metrics, or that they just didn't have the ability to show Raytheon that it would be financially in their and our best interest to grow the company.

I also feel the people behind H.I.G. must know that the dynamics of running a fractional is entirely different that running a cargo operation. With cargo, you can move the boxes with decades old 727s that are dirty and have all the paint coming off. The boxes won't complain. You can have a pissed of work force that is only making $89 thousand for a 14 year captain, and the boxes will still come. But when you are flying millionaires, and billionaires, you can't have shoddy looking equipment and service, the clients won't come. To succeed and attract new business, you have to have word of mouth bragging of the quality of product and service. The same bragging we use to have years ago when we were one of the highest paid pilots in the fractional industry. I was always hearing from our passengers that "they have a share of net jets, and a share of options. But flying Options is much better because of the pilots are all great, they are all up beat and happy." That was because net jets was going Thur an ugly time with management, and it affected the pilots positive performance that these clients deserve and expect. The only way we can stop the bleeding of pilots that we need to keep to grow is to bring the pay up to industry standards, or more if they really want to truly get our positive attitudes back. That is crucial to the success of this kind of service business.

I am optimistic about that.

 

[Number$Cruncher]

Point taken, but the fact that Raytheon is taking $134 million in charges in Q3 and Q4 to cover for the past performance ought to give a clue about the state of current affairs. They have a very long, long way to go.

 

[guido411]

However, cutting costs is a small part of the equation. The larger piece of the equation requires growing the company substantially -- usually by increases in sales, changing product, new products/services, and key acquistions. The goal is to exit in 3-5 years with a substantial increase in value.

Ok, fine, but I'm the devil's advocate. . .

HIG doesn't HAVE to cut costs. Our pilots are the lowest paid already, have the highest insurance premiums, and work the most. MS has done a fine job of K-Marting us into the 21st century. So they don't cut costs, but why would HIG take on additional costs before they absolutely HAVE to? The way I see it for every year these negotiations go on it puts around $20 million in their pockets because they don't have to give it to the pilots. It's going to take them a long time to realize what unhappy pilots can do to this place. So I'm sorry for the pessemism guys, but I think this changes NOTHING. Solidarity is our only hope.

Pay your dues.
Listen to the advice your Union gives you.
Don't work OT.

And FTP!!!!!!!!!!

 

[Voice Of Reason]

YAY? GOOD thing???? NOT!

:smash: <---for anyone who has any shred of false hope that the new buyer is a "good thing." HELLO? They clearly state on their website:

"H.I.G. Capital is a leading global private investment firm with over $4 billion of capital under management. H.I.G.'s family of funds includes private equity, venture capital, distressed debt and public equities. We align ourselves with committed management teams and entrepreneurs and help build businesses of significant value. Our team of over 100 investment professionals has substantial operating, consulting, technology and financial management experience, enabling us to contribute meaningfully to our portfolio companies. We invest in companies throughout the U.S. and Europe and have offices in Miami, Atlanta, Boston, and San Francisco in the U.S., and affiliate offices in London, Hamburg and Paris in Europe.
---------------------
We have a proven, differentiated strategy built around; (1) a long-standing focus on small and mid size businesses, and a deep understanding and appreciation of the unique challenges and opportunities such businesses present; (2) a large team with unique skills and capabilities, and a value-added, "can-do" attitude; (3) a flexible investment approach which emphasizes speed and responsiveness. "

They sought out to "align themselves" with a Sheeringa type outfit. Look how pathetically run Amerijet is and always has been. Possibly even worse than FLOPS if that is at all possible.

I'd concentrate on stopping the EXTREME downgrading of health benefits where everyone is forced to Plan B, then having misguided hope that Santa has come to save the day. There's not many bigger Santas than Raytheon and look what THEY did.

WAKE UP, NONE of this is a good thing. Just when you think it can not POSSIBLY get worse, look again. Then look at Amerijet. Search them on this very website's forums. Then remind yourself THEY are IBT to top off this whole mess.

Scheeringa ran this place in the ground and gets kudos from HIG. IBT sits by and watches this (AND Amerijet who they have been with much longer).

BTW, I am all for doing what has to be done to get a great contract. I AM however, appalled at the low class way that many onboard choose to make their fellow pilots look like Walmart employees to prove their points. Then you wonder why people look at it as a Wal-Mart operation (which it is) including the pilots (who are NOT and should NOT receive that kind of perception which is prompted from WITHIN THEIR OWN RANKS).

You can do what is necessary without being UNPROFESSIONAL about it. Do what you have to do, with LESS MOUTHS FLAPPING that tend to make the org look uneducated and thuggish.Seems many are not "letting their union speak for them" enough! Act like redneck trash and that is how we all get perceived and treated...from EVERYWHERE, not only mgt! Think about it!

 

[glasspilot]

Ya'll need to head over to the Cargo section of this board and search "Amerijet" or "Gemini".

You just wouldn't believe how poorly these places are run and how bad pilots are treated. I've heard stories about Gemini but have first hand worked for Amerijet.

Here's just a few nuggets from Amerijet;

1. Pilots print their own Jepps at the pilots cost. That results in many of the senior CAs simply not printing them out and keeping them current. I've flown with guys with charts that haven't been updated on over two years.

2. 10 days off per month. That's right...10.
3. Horrendious training. No systems book, they give you a CD. Plus the CD is for the wrong airplane. It's for the 727-100 and all they fly are 200's.
4. Instructor had zero clue about any subjects. As example he was stating that exemption 3585 is what required a takeoff alternate. ...great.
5. You earn sick time at 1.75 hours per month. If you call in sick they pay 3.45 hours per day unless you call in when they call you for a trip or after. Then it's a 5.0 hour penalty. Also, if you call in sick with a negative balance it's a 5.0 hour penalty (not paid) and it takes your balance further negative. While earning it at 1.75 hours per month it could take years just to get back to zero!
6. Mx is VERY questionable. I've seen Cat C items cleared and re-written up every 10 days for months on end. Forget about extensions.
7. Pilots are required to wear stupid orange vests whenever on the ramp.
8. Horrible management pilot relations. The pilots voted in a union over 3 years ago and they still have nothing close to a contract. Last I checked in with people I still know there negotiations have ceased. The pilots who were on the committees either left or were fired for silly things. No one dares step up and put themselves into the cross hairs. This would hit close to home for FLOPS pilots I would imagine.

I could go on more but I think you get the point. I'd be extremely concerned if HIG bought my company. Knowing how I was treated at Amerijet I'd do a pre-emptive quit.

Good luck.

 

[mushroom]

Glasspilot, the only thing I would question about your post is #7.

Speaking as someone who saw a captain get run over and nearly killed by a 20,000 lb. forklift on the ramp at Emery (leg amputated, huge internal injuries, almost died on the ramp), I am a big fan of those vests. They at least help the drug-addled idiots racing around on the forklifts to see you a little better at night.

 

[Publishers]

There are some obvious things related to this transaction.
Raytheon could not give this part of the business away to Hawker Beechcraft so agreed to keep it and seek a buyer. They found one and being extremely motivated made a deal. HIG sees a value -- many things can be a value if you get them cheap enough. At this point, and do not be insulted, they need to figure out what to do with this business which has not been successful under a number of owners. Fixing pilot problems may be your number one priority but most likely not theirs. They have to find a place in the market, find some management (the statement about committed management teams does not necessarily mean the current team), execute some financial restructuring, and get it ready for an IPO or sale.
If you look to Amerijet or Gemini as examples of anything, you should realize that companies in the segment of the business they serve rarely are the best companies to work at from a salary and benefit basis. Amerijet makes more money off their trucking operation than they do flying aircraft. Where the model for FO failed long ago was on the aircraft sales side. Netjets would be dead today if they were not an aircraft sales organization. No aircraft sales, no Netjets, no pilots, no nothing. Flexjet and Citation Shares were there to help sell aircraft. Same business as Netjets. What aircraft is FO selling because without that component, the road will be damn difficult.

 

[NJAowner]

The HIG oeple are probably very knowledgeable consumers of the FO service. Unlike when thry buy a diaper or shoe company, I would guess that the HIG management has a lot of experience flying in the back of corporate jets. If they actually start using FO themselves and for their friends and family that would be a good sign. Unlike using a cheap diaper or piece of plywood, cutting corners is not something you want to happen in private aviation. So actions speak louder than words -- will they fly FO and put their friends and families on FO jets.

Don't be misled by the management comment on the web-site. Itis very important for upper management to save face. At most companies these guys always retire to pursue other interests -- the press release rarely ever says they were fired. See who is runnng the company 1 year after the closing. While the private equity guys are more patient than Wall Streets traders, they are not too patient.


I still say this is a good sign, but you also need to protect your interests.

Fly safe.

 

[netjetwife]

'Owner, it's kind of you to offer your insight and support. You were likewise supportive of the NJ pilots during their contract battle. Thank you! I hope that all is well with you and your family.
NJW