Hear things are pickin up at Netjets, whats the scoop?

[Hogprint]

FWIW...

Flew more last tour 8/23-29 than I have in the last year. Every day was 3-5 legs. I haven't seen a week like that on the U-boat in over three years.

Part of it was I was stuck in the NE (the norm for me) and the Hamptons, ACK, and the Vinyard were calling the rich folk in.

I don't think it will hold, especially on my fleet, but I hope I'm wrong.

 

[flagshipper]

That was my point.

Yeah I know it was. Riding over from the FBO the other day the line guy proceeded to tell me that the past 3 weeks he has seen 10 NJ airplanes a week where before he only saw 6 to 8 per week in the first half of the year so surely we have completely recovered and I literally laughed out loud and he seemed offended. I have seen similar posts on the boards as well from pilots. Makes me laugh. Sitting 100 from the bottom I wish it were true.

 

[NachoMamma]

When you say "interviewing soon" you mean sometime in the next 5 years, then I would have to say probably.

That's sounds pretty optimistic to me...plan on a good three years to get back to pre-recession flying levels. After that, who knows, but massive growth, at least enough to necessitate hiring, is extremely unlikely.

 

[cjdriver]

AIN had the following today:

According to the Berkshire report, NetJets’ second-quarter revenues fell 43 percent year-over-year to $550 million and for the first half dropped $1.024 billion, or 42 percent below the same six-month period last year. Worse yet, the fractional provider sustained pre-tax losses of $253 million for the second quarter and $349 million for the first six months, compared with gains of $192 million and $255 million, respectively, in the same time frames last year.

As if that weren’t bad enough, Berkshire said that NetJets owns more airplanes than it requires for its present level of operations “and further downsizing will be required unless demand rebounds.” Two reliable sources estimate that NetJets has more than 130 aircraft in its unsold inventory, although neither the Berkshire report nor NetJets itself would say just how many excess airplanes there currently are.

 

[brokeflyer]

greedy management is gonna wreck the aviation industry for all of us.

 

[o2bflyn]

greedy management is gonna wreck the aviation industry for all of us.

Not for you.....

 

[brokeflyer]

Not for you.....

yeah but i still have several friends and a few family members still flying.

 

[captain dad]

It's all relative. I think the company is moving in the right direction. It's time to get in shape. More lean and efficient are the words of the day.

I hope the whole industry has a good holiday season this year.

 

[Super_Cub_2414P]

Just the right amount of lean, we don't want the bones not to have any muscle. GOT TO HAVE MUSCLE

 

[ArtVandalay]

The only people who really know how the business is doing is management and the managers of FBO's.

 

[jetlag7]

That's sounds pretty optimistic to me...plan on a good three years to get back to pre-recession flying levels. After that, who knows, but massive growth, at least enough to necessitate hiring, is extremely unlikely.

I said 5 years (not 3) -- and I said "probably".

Optimistic? I've always been a "glass is half-full" kinda' person, but the intent of my post was certainly NOT to paint a rosey picture.

 

[Mike Jenvey]

Sorry to hear the bad news - looks like office lay-offs in Columbus - & from the way the article is written, possibly over here too???

 

[RP170]

Sorry to hear the bad news - looks like office lay-offs in Columbus - & from the way the article is written, possibly over here too???

Be interesting to see if the 5% is carried over to the pilot groups as well? I guess we'll know in the next couple of weeks.

 

[BoeingBaller]

Will there be some interviewing soon? Those 100 bases are looking nice.

They took the bait hook line and sinker!!!!