Latest on JetBlue hiring?

[Longhorn]

Hey, just reporting what they are telling me....I hope it happens but I agree with the 60% of 50%.....thats the track record anyways.

 

[n757st]

We are in a time of record profits, record load factors, and record revenue generation. I have no doubt the company wants to hire that many people over the next 3+ years. That said, if predictions are true that our profits are to grow to 1 dollar per share by next year, I could see an acceleration of orders. If revenue slacks and profits do not keep increasing incrementally, then we could see orders deferred. I don't think its as easy as saying "we absolutely will or will not take "X" amount of airframes".

 

[Headfake14]

well, with more newbies...CASM will go down with the averaged newhire payrates. Plus, we've already taken it in the shorts with deffering so many orders over the last few years. It may be more cost effective to just take the ships than pay more penalties for delaying orders. I hope we're not too far behind the curve on hiring. We should have had a class of 50 in August.

 

[Ski-N-Fly]

With the airlines turning record profits, this is good for all of us. Just keep in mind, that this is the airline business. ANYTHING can happen on any given day. So when you hear predictions, whether from management, fellow pilots and employees, or even the local weather reporter, remember to add these 3 words......SUBJECT TO CHANGE. I am in no way trying to be negative here, but simply attempting to point out how volatile this industry can be.

I do believe, however, that this appears to be the crest of the wave. So let's enjoy the ride!

 

[Longhorn]

Crest of the wave? Have you seen the article summarizing our earnings call? We are deferring more aircraft = barely any growth. Everyone is growing except us. We are for sale....and the leaner we are the better.

http://www.flightglobal.com/articles/2010/10/21/348805/jetblue-plans-airbus-deferrals.html

 

[Beechnut]

http://www.flightglobal.com/articles/2010/10/21/348805/jetblue-plans-airbus-deferrals.html

JetBlue plans Airbus deferrals
By Lori Ranson

JetBlue Airways plans to defer a total of 10 Airbus A320s scheduled for delivery in 2012 and 2013 to 2016 in order to spread out its aircraft purchase obligations.

Carrier chief executive Dave Barger disclosed the deferrals today during an earnings call with analysts and investors. Specifically, four A320s scheduled for delivery in 2012 are being pushed to 2016 and six deliveries originally scheduled for 2013 will be rescheduled for delivery in 2016.

JetBlue estimates the deferrals reduce Airbus deliveries by 40% in the 2012-2013 timeframe and reduce costs associated with aircraft purchases by $500 million. The carrier has agreed to pay Airbus $5 million as part of the deferral agreement.

JetBlue now plans to accept seven A320 deliveries in 2012 and 2013.

Additionally, Barger says that JetBlue has decided to "opt out" of two Embraer E-190s deliveries scheduled for 2012.

Now that JetBlue has concluded the deferral agreement, the carrier plans to take a total delivery of nine new aircraft in 2011, 11 in 2012 and 14 in 2013. Barger also says four A320 leases terminate in 2012 and six of the type come off lease in 2013.

JetBlue's latest fleet adjustments follow a deal it concluded with lessor Gecas earlier this year to add back seven A320s it once owned and previously operated.

Barger in a recent interview with ATI sister publication Airline Business said JetBlue "had a very nice financial proposal to bring those aircraft back into the fleet".

"...and I think it's gonna be a long long time... before you ever see a line... Rocket Man!"

 

[n757st]

Perhaps there will negotiation to keep some of those airbuses on property at more lucrative lease rates. Otherwise it now seems the airbus fleet will be pretty flat after next year.

 

[Otto77]

"As for Queens, N.Y.-based JetBlue, results showed third-quarter earnings nearly quadrupled to $59 million, or 18 cents a share, up from $15 million, or 5 cents, earned in the year-ago period.

Analysts had been looking for a profit of 19 cents a share, on average.

Operating revenue rose 21% to $1.03 billion, while the airline’s average fare climbed 11.6% to $141.79.

“Looking ahead, we are encouraged by strong revenue trends, particularly in our Boston and Caribbean markets. We expect this revenue momentum to continue into the fourth quarter,” said Chief Financial Officer Ed Barnes."

So a positive quarter = deferrals?!

Not good..I was still hoping on the planned hiring this coming year in the neighborhood of 275 folks? What gives?!

 

[Fins Up]

Agree. By then a merger. Anyone who thinks different is naive......

Since I have been here we were going to be bought by Delta, SWA, then American. I wouldn't say a merger in the relatively near future is a sure thing. I guess I'm just naive though.

Also,
- The company was going to take our laptops away (even before talk of EFB)
- David Neeleman was going to buy us back (even though he had been booted by the BOD).
- We're going to announce Alaska.
- We're going to announce St. Everywhere in the Caribbean

If you don't believe that all of these have already happened, you are naive.

 

[Ski-N-Fly]

Crest of the wave? Have you seen the article summarizing our earnings call? We are deferring more aircraft = barely any growth. Everyone is growing except us. We are for sale....and the leaner we are the better.

http://www.flightglobal.com/articles/2010/10/21/348805/jetblue-plans-airbus-deferrals.html

Easy, fella. I was merely commenting on the airline industry as a whole.......not one particular airline. You can speculate all day on growth, no growth, mergers, buyouts, or who will win the superbowl. The fact remains that the airlines are turning some good profits. Delta is hiring, JetBlue is hiring, and American is recalling. Massive retirements at the legacies will follow. Can you see a trend here? This is the crest of the wave I am talking about. I could be wrong, but I prefer to be more optimistic (albeit cautiously). It sure beats the "sky is falling" attitude.

 

[coogebeachhotel]

Why defer? Makes no sense. Imagine a cotton farmer watching commodity prices at record levels. He wakes up one morning and decides he should not plant cotton this year. Why? The cotton seed costs too much................................

 

[Mercy98]

24 planes in 36 months, 2011-13. Record quarterly profits, but missed earnings estimate. Plenty of cash in the bank. Deferring deliveries or "opting out" of them. Yea, somethings going on in the background.

 

[Longhorn]

Easy, fella. I was merely commenting on the airline industry as a whole.......not one particular airline. You can speculate all day on growth, no growth, mergers, buyouts, or who will win the superbowl. The fact remains that the airlines are turning some good profits. Delta is hiring, JetBlue is hiring, and American is recalling. Massive retirements at the legacies will follow. Can you see a trend here? This is the crest of the wave I am talking about. I could be wrong, but I prefer to be more optimistic (albeit cautiously). It sure beats the "sky is falling" attitude.

Hey...my bad. Did not mean to sound pissed or appear to have a "sky is falling" attitude, just frustrated with a few things at work. Things just dont make sense from time to time....people who know me know that I am very level headed and calm....just upsets me to see everyone else growing and making a ton of cash while we pull back deliveries and raise the cost of benefits an unheard of %. Thats all.

 

[Vingus]

Hey...my bad. Did not mean to sound pissed or appear to have a "sky is falling" attitude, just frustrated with a few things at work. Things just dont make sense from time to time....people who know me know that I am very level headed and calm....just upsets me to see everyone else growing and making a ton of cash while we pull back deliveries and raise the cost of benefits an unheard of %. Thats all.

So true buddy.

 

[Ski-N-Fly]

Hey...my bad. Did not mean to sound pissed or appear to have a "sky is falling" attitude, just frustrated with a few things at work. Things just dont make sense from time to time....people who know me know that I am very level headed and calm....just upsets me to see everyone else growing and making a ton of cash while we pull back deliveries and raise the cost of benefits an unheard of %. Thats all.

No worries. I can definitely understand your frustration.