Loss of 96 million for FLOP

[NETFLIER]

Flight Options–recorded an operating loss of $96 million in the third quarter compared with an operating loss of $10 million in the same period last year.

 

[netjetwife]

Obviously the stick approach isn't working... It's way past time to bring the carrots to the table. I hope the Options pilots keep sending the message until management gets it. Those uncomfortable with the tension need to realize that you have to speak loudly when you're presented with a deaf ear. It may feel strange at first, but when you succeed in getting your point across you'll be glad you spoke up. Billboards make an excellent megaphone. Congrats on yours! Best Wishes!! NJW

 

[fischman]

Obviously the stick approach isn't working... It's way past time to bring the carrots to the table. I hope the Options pilots keep sending the message until management gets it. Those uncomfortable with the tension need to realize that you have to speak loudly when you're presented with a deaf ear. It may feel strange at first, but when you succeed in getting your point across you'll be glad you spoke up. Billboards make an excellent megaphone. Congrats on yours! Best Wishes!! NJW

What she said...

Hang in there brother and sisters.

 

[skyismyoffice]

Someone please correct me if I'm wrong but I believe the $96mm loss was for the 'other' section of Raytheon's business of which FLOPs is (was) a part. The shift from $10mm to $96mm was not from FLOPs alone. In fact I am a believer that FLOPs HAS been making money. Raytheon has just been shifting money around and not showing such. Don't get me wrong I still think this company is being run by a group of incompitent lunatics but I think we're not getting the true financial picture.

 

[Publishers]

Sorry, if you think this thing is making money, you are not reading the tea leaves very well. the other thread has some pertinent comments but the short version is that Hawker did not want this division, Raytheon does not want this division, and the company that bought it wanted it very cheap. That my friend is not a money making company. Secondly not much of this had to do with the pilots. It has to do with a model that failed ==remember the deal where we were offering used aircraft not the new ones like that Netjets company. Before they worry about the pilots, they have to find a model that works for them. If we cannot figure that out, we will not need pilots at any pay.

 

[JustInfo]

Kind of like Netjets will never make any money and their business model can never work??

 

[gunfyter]

... Before they worry about the pilots, they have to find a model that works for them. If we cannot figure that out, we will not need pilots at any pay.

Before they will find a model that will work... they will have to take care of the pilots....

 

[netjetwife]

GF, I agree with you 100%. Sometimes management has to be dragged kicking and screaming, "We're broke" to the bargaining table. I have no doubt some would like to take the easy way out and balance the budget on the pilot group's back... but eventually they realize that stalling just wastes money. Smart companies treat their workers w/respect and compensate them fairly, knowing that it pays off in productivity.

If management needs to make some changes, so be it. Make them do their job and actually manage things better. What should not happen is a model that is centered on the pilots (some who can qualify for govt assistance) subsidizing a luxurious mode of travel for the wealthiest people in the country.

My hat's off to the Options pilots for standing up for themselves, their families, and other pilots in the industry.

 

[FR8DOG777]

mismanaged

Welcome to our world. A senior management team who wishes to squander money away at everything but the pilots. I wonder what our operating loss would have been if they followed citation shares and flex instead of pissing away money on mx and charter. They could have fired fud and harrysax thrown the their pilots a bone and been well underway to profitability. I was hoping to be optimistic like Continental in the Frank Lorenzo days, but my enthusiasm has long since subsided. Fozzy I don't know you, but I like you. If half of the pilots here would make a stand this would have ended a very long time ago. It is time to throw in the towel as far as I am concerned.

 

[Frac Cap]

There is a lot of truth in what is being said here. Take Southwest for instance, how can they be profitable for all these years in such a volatile industry? They did it by treating their employees right, and paying them fairly. Doing so, maintained good relations, and the workers were motivated to work hard and the company profited. The company takes care of the employees, the employees takes care of the customers, the customers take care of the company.