Meanwhile, Flight Options is kicking some butt - 2011 was a strong year

[johnsonrod]

Looks like FLOPS is doing "relatively" well. Nice to see the Phenom 300 program is selling very well and I am sure the replacement of older Beechjets with the revamped 400XTs will further improve results in 2012.


See the AIN Online article below:


Flight Options Flying Higher
[FONT=Verdana, Arial, Helvetica, sans-serif]Flight Options, the second-largest fractional jet provider in the U.S., said 2011 was one of its best years and expects the momentum to continue to build this year. In fact, the Cleveland-based company reported a jump in new fractional owners last year versus 2010. “One of the statistics from 2011 of which we are most proud is that more than one-third of all new owners came from referrals–a strong and appreciated endorsement from our current owners,” noted Flight Options CEO Michael Silvestro. The company also added 14 new jets to its fleet–10 Embraer Phenom 300s, two Nextant 400XTs and two Cessna Citation Xs. Based on this tally, Flight Options claims it took delivery of more business jets than any other fractional operator worldwide last year. Company chairman Kenn Ricci also pointed out that the aircraft added last year were “100-percent sold out,” generating $108 million in sales revenue at the fractional provider. Flight Options plans to build on last year’s success in the coming months by taking further deliveries of the Phenom 300 and Nextant 400XT (nine and seven, respectively), expanding its jet-card offerings and adding new aircraft programs.[/FONT]

 

[NachoMamma]

No no no...this can't be! They have a union, and unions drive companies out of business! Haven't you been paying attention?

 

[CE750Driver]

No no no...this can't be! They have a union, and unions drive companies out of business! Haven't you been paying attention?

GIV! Where is your idiocy now! Please fill us in. Im sure your logic will astound us all. You Capitalist pig!(self proclaimed, most say brown-noser)

LOL.

 

[jonjuan]

No no no...this can't be! They have a union, and unions drive companies out of business! Haven't you been paying attention?

Aren't they paid a fraction of what nj pilots get? How much 401k match is there?

 

[chainring]

Aren't they paid a fraction of what nj pilots get? How much 401k match is there?

Well i guess you better not go to work for anyone but Fedex or UPS then because if you work for any othet airline you are only getting paid a fraction of what they make.

 

[Fresh Air]

Aren't they paid a fraction of what nj pilots get? How much 401k match is there?

You are spot-on, JJ. We (FO) are doing all right as a company because when all things are taken into account (Base pay, medical, retirement, overtime pay, upgrades, etc) our crews make about two grand per month less than our Netjets counterparts of similar seniority. Sucks, but it is what it is. And for what it's worth, our management LOVES our CBA. They roll naked in copies of it. They know that their costs won't increase for at least the next three years, and can plan accordingly.

 

[johnsonrod]

You are spot-on, JJ. We (FO) are doing all right as a company because when all things are taken into account (Base pay, medical, retirement, overtime pay, upgrades, etc) our crews make about two grand per month less than our Netjets counterparts of similar seniority. Sucks, but it is what it is. And for what it's worth, our management LOVES our CBA. They roll naked in copies of it. They know that their costs won't increase for at least the next three years, and can plan accordingly.

I think I just threw up in my mouth.

 

[BentOver]

Good for FLOPS...

One important fact that hasn't been mentioed yet.. FLOPS took delivery of NEW aircraft all along... HMMMM Where didn't we hear about new aircraft being offered to customers???

Looks like FLOPS outplayed the others in the delivery department

 

[dime line]

Aren't they paid a fraction of what nj pilots get? How much 401k match is there?

Ding ding ding....we have a winner

 

[The Kman]

Lets get some more recalls!

 

[Praetorian]

You are spot-on, JJ. We (FO) are doing all right as a company because when all things are taken into account (Base pay, medical, retirement, overtime pay, upgrades, etc) our crews make about two grand per month less than our Netjets counterparts of similar seniority. Sucks, but it is what it is. And for what it's worth, our management LOVES our CBA. They roll naked in copies of it. They know that their costs won't increase for at least the next three years, and can plan accordingly.

Yup, probably the best CBA 50% pilot solidarity ever earned.

 

[Fresh Air]

Yup, probably the best CBA 50% pilot solidarity ever earned.

Sad but true

 

[cldsfr79]

$108 million in REVENUE, so what was their profit? I think NJA does a billion or something in revenue and has been squeaking in $100+ million in profit.

It's easy to make money when you are selling used planes and paying your pilots regional wages. Sorry, I'm not trying to be mean, just honest. And I would like to see the package that the owners get on the Phenom 300 compared to the "platinum 300", specially designed aircraft for NJA, that we will be getting. I'm sure that options will be under cutting us in price. And then point out how expensive we are.

 

[G4dude]

GIV! Where is your idiocy now! Please fill us in. Im sure your logic will astound us all. You Capitalist pig!(self proclaimed, most say brown-noser)

LOL.

Flops pays quite a bit less than NJA for crews, so they have a competitive advantage. The union at FLOPS has not been able to drive up crewing and operational expenses to a noncompetitive level yet, which is good for FLOPS and bad for NJA and FLEX. The Capitalist Pig has spoken. Although, sometimes Ricci speaks with forked tongue, by the way.

 

[BentOver]

Flops pays quite a bit less than NJA for crews, so they have a competitive advantage. The union at FLOPS has not been able to drive up crewing and operational expenses to a noncompetitive level yet, which is good for FLOPS and bad for NJA and FLEX. The Capitalist Pig has spoken. Although, sometimes Ricci speaks with forked tongue, by the way.

Nope, he still gets on his knees..Had such high hopes for ya man..carry on

 

[CALRepublic]

$108 million in REVENUE, so what was their profit? I think NJA does a billion or something in revenue and has been squeaking in $100+ million in profit.

.

FINALLY

I've been dying to ask that question for days now but didn't want to 'burst the bubble'

 

[gunfyter]

I think NJ does $5 billion in revenue for a measily $200 M profit... or 4%. Its a razor thin margin... that could easily swing the opposite direction with only slight mismanagement.

 

[G4dude]

I think NJ does $5 billion in revenue for a measily $200 M profit... or 4%. Its a razor thin margin... that could easily swing the opposite direction with only slight mismanagement.

I agree. I feel Berkshire is assessing right now whether NJA is a good fit in the portfolio. Makes me nervous.

 

[jetwash]

Flight Options will never make a major profit.


If Kenn Ricci saw that he was going to have a very good year with Flight options he would send some aircraft for MX work or a referb to one of the other companies he owns to help eliminate the profit from Flight options books (Nextant). Then when the pilots ask for more money the numbers will not be there to justify it.

Flight options is making money but it is being slowly transferred to Kenns other companies.

 

[CALRepublic]

I agree. I feel Berkshire is assessing right now whether NJA is a good fit in the portfolio. Makes me nervous.

Supposely Mr. B likes having NJA around, he did give us the green light for those 2 large aircraft orders.

I'm more worried about what's gonna happen to us after he goes (if you know what I mean)

Back to FLOPS, if they are indeed reporting a profit, congrats