Net Jets to Furlough 500...??? Right...

[Fozzy]

jackass

 

[phishn@daves]

jackass

Me? If so why?

 

[CALRepublic]

I
Any furlough rumors?

I literally heard "NetJets is about to furlough 500 to 1000 pilots because business is off by a third this year."

.

LegacyDriver is asking if there are any rumors going around about us furloghing.......... LegacyDriver, this thread is exactly that, A RUMOR....... You heard we're fat about "500" pilots?? Let me guess, you heard that from a reliable source, correct??

 

[Princedietrich]

What I read from Legacydriver's tone is that he went into this thread not believing that rumor in the first place. It almost sounds to me like "hey, guess what some idiot over at xyz airport told me!" and he shared it for the almost comedic ridiculousness of it.

 

[fischman]

Me? If so why?

I don't think he was talking about you.

 

[Sparse]

LegacyDriver is asking if there are any rumors going around about us furloghing.......... LegacyDriver, this thread is exactly that, A RUMOR....... You heard we're fat about "500" pilots?? Let me guess, you heard that from a reliable source, correct??

A buddy of mine was told by a "union rep of another Frac" that NJ was going to lay off 300 a couple of weeks ago. Even gave the exact date the announcemnet was going to be made. Well that date came and is now gone. It was just that. A Rumor. I hope NJ doesn't lay off a single person. I wish that the others, including mine, hadn't. The fact remains that there is a serious over capacity issue with the fractionals as well as the airlines. It will take some time to absorb that over capacity. NJ has some staying power to ride the storm out. The others do not. that's why there are several hundred fractional pilots on the street. Things will turn around, but it will probably never look like it did before. Many of the bottom feeders (i would love to be one) using our services are probably out of the game. They were doing this with bonus income, wages that some consider excessive, and company perks. The dynamics of those revenue streams have changed now that it is popular to grand stand against them in the current populist environment. Some can't afford it any more and others won't do it because of perception issues. I think we are looking at a totally different industry over the next few years.

 

[Fozzy]

Me? If so why?

Sorry, should have been more specific.
I was referring to the thread stater.

 

[OHGOON]

Things will turn around, but it will probably never look like it did before. Many of the bottom feeders (i would love to be one) using our services are probably out of the game. They were doing this with bonus income, wages that some consider excessive, and company perks. The dynamics of those revenue streams have changed now that it is popular to grand stand against them in the current populist environment. Some can't afford it any more and others won't do it because of perception issues. I think we are looking at a totally different industry over the next few years.

I agree with this in the short term, but there will always be new money looking for a place to be burned up. The populist outcries will subside and those that can will come back.

If anything, culling the herd now will temper "irrationally exuberant" growth in this industry from reoccurring which will be better for our job prospects/security in the future.

 

[o2bflyn]

It would probably cost NJ more to furlough 300 pilots than it would to keep them on anyway.

If you think about it, I am sure most of those 300 would be in the XL/XLS and X fleets. Since those fleets are amount the busiest (relative term I am sure) you would probably need to retrain pilots off other fleets to fill there seats.

I do NOT work for Netjets, these are just my thoughts from a business point of view.

 

[btodd77]

Is it a possibility that we'll furlough....always a possibility. Do I think it will happen, in a word NO. It would need to be in the neighborhood of a 15 month furlough, from what I understand, to make it financially prudent. There are "poison pills" in our contract where the company has to provide a couple months severance to each furloughed pilot, as well as the training costs to retrain literally hundreds of pilots into different fleets.