NetJets Hiring?

[saviboy]

There are some instances of whole tours of working 12+ hours and flying like crazy and not fatiguing like they should, but overall we really aren't getting crushed. There should definitely be more fatigue calls when people are fatigued for whatever reason, but overall we aren't crazy busy like some squeaky wheels keep trying to tell everyone. I fly the Excel. Some days are hard. Some days I do nothing. Overall I am flying about the average amount for a fractional pilot- I'll do about 450 hours this year. At this rate and the rate they are telling us of 1 to 2 percent growth year over year in the plans, we won't be hiring or recalling any time soon. I honestly don't see any recalls unless they are forced by using sell offs more than 11 days per quarter (none last quarter and only 5 or 6 the first quarter). Slow growth without being overall really busy won't bring hiring for many, many years.

many many years as in 3-5 years or 6-8 years?

thanks

 

[jtf]

How long to recall I really don't know. If Mr. Sokol steps down and brings in a new CEO things will most likely happen a bit faster for recalls, but I highly doubt any recalls for at least another couple of years unless they sell off too many flights in the 4th quarter and have to bring back some contractually. Sokol is a bottom line guy and he is going to find out how lean we can be and still provide a base line of quality that he probably has set for himself (what he will accept as an owner). Unfortunately, I believe his acceptable level is considerably lower than the majority of owners and I fear we will lose many more than we should if we keep on this track. I hope whoever comes in to replace him (he has already said he isn't here for the long term) will continue with a reasonable level of bean counting, while not diluting the luxury side of the business like Sokol has started to do. I also hope whoever comes in is willing to grow a bit faster if the market will allow it and will also step up the airplane orders to at least replace the older airframes- our current orders won't come anywhere near getting all the older airframes replaced. If NJA wants to remain the unquestioned leader, NJA cannot let the fleet age as much as it will without the orders to replace the older aircraft. We put a ton of time on them and these things shouldn't be on property for more than 10 years and probably many years less if we want to provide the best.

 

[jonjuan]

If NJA wants to remain the unquestioned leader, NJA cannot let the fleet age as much as it will without the orders to replace the older aircraft. We put a ton of time on them and these things shouldn't be on property for more than 10 years and probably many years less if we want to provide the best.

The problem is, you can't simply order and take delivery of new airplanes without a near equal number of owners willing to pay for these new airplane shares. Most are sitting in a 5-6 year old plane that is now worth 40-60% of what they originally paid for it. Very few will want to trade-in for a fully priced (with premium) new share and only see the older aircraft when they fly. More and more will begin to, if forced out of their current plane, buy a 2-3 year old plane which has seen significant depreciation.
One option is to take delivery of a ton of new planes in a short period of time in hopes that people will buy them new (in a short period of time to convince people that they will actually fly on new/er airplanes). However, this exposes the company to a huge amount of risk should people be unwilling to trade-in for new. FLOPS is doing this with the Ph300 (buy a new plane, but fly on a 10+ year old bj most of the time).

 

[saviboy]

thanks for the answers

 

[JungleJett]

Two Words: LOGANS RUN.

You youngin's can google it or your internet equipped talky machine.

 

[jtf]

Logans Run would take out almost the entire seniority list. If I remember correctly the people in the movie are done at age 30. Even the furloughed would be mostly gone in that world.

 

[Hogprint]

Two Words: LOGANS RUN.

You youngin's can google it or your internet equipped talky machine.

Yep. Loved Jenny Agutter. Did they ever get the remake made?

 

[JungleJett]

Yep. Loved Jenny Agutter. Did they ever get the remake made?

They ought too!! That would be way cool!

 

[Hogprint]

They ought too!! That would be way cool!

It was in the works as of five years ago. It got picked up then lost funding. Last I heard it was shelved but they were still looking for backing. Haven't heard much since though.