NETJETS Profits...UP UP and AWAY!

[squonk]

realityman:

I believe we all considered that a personal, negative attack.

Amen brother! It was an attack on us all and FG supported it 100%.

I thought he (FG) wasn't due for a haunting until '09?

 

[hydrarkt]

If you'll read my previous posts you'll see that I did acknowledge that a big driver in our 2006 financial results was that Europe finally turned a profit.

Also remember that Europe took a long time to grow until it was profitable (10years?), and we did not want to take on the burden of trying to grow another market until Europe was profitable.

I also remember how many times Europe losing money was brought up in the negotiations and the pilots comments at the time were 'screw Europe, we dont care about that, we want our money now'.

With that in mind, do you really want the company trying to create a new market now? If not now, then when is a good time? Especially since we will likely have renegotiations every five years?

My profit estimate was my own honest assessment, and has nothing to do with trying to set expectations. I also gave my reasoning for the lower estimate, what is your reasoning for a higher estimate? Either way, we will all know in about 9 months.

We all know that NJE grew on the backs of NJA. As a matter of fact, that was part of managment's excuse for low balling us on pay on the first CBA. That's why we said "screw Europe." And the growth of both NJE and NJA occured while managment cried POVERTY!!
Managment would not have grown both sides so fast if they didn't have huge profit expectations, huge Marquis growth and a backlog of owners.
I do think that the company should try to grow NJME, although I don't know much about that market. There's probably room for action in Asia too, though I know that airspace and infrastructure are a problem. We can grow both of those markets slowly without huge influxes of capital. Those markets won't grow like Europe did... at least not now. But a little more presence in Asia will create great visibility.
My expectations for profit are based on the first quarter turn around, continued growth, an upcoming very busy season and hopefully a better understand of holiday sell off need.
Negotiate every 5 years??? I think that 5 years is a little optimistic on your part. We grudgingly settled on 5 years this time. Don't expect it again. Do I hear 3 years??

 

[fischman]

RTFQ???

WDYRTOPYFM

Why dont you read the original point YFM (I can PM you the rest of the acronym if you need it)

I said you were a hypocrite for getting your panties in a wad about a snide comment when you've made hundreds of snide comments on this board yourself....



Now I'll challenge you to show me where I've been a 'pilot hating SOB' and came out as a 'bung hole towards this pilot group'.

I work everyday with our pilots and count many of them as friends. I have the utmost respect for the job they perform day in and day out. If you'll reread my posts you'll see that I supported them in getting a raise for their hard work.

What I did not condone, then or now, is the disrespect and arrogance displayed by some towards our chairman and his appointed executives. There is no need in negotiations to turn to personal, negative attacks. It is unprofessional and beneath this pilot group.

Mr Santulli created this industry and all the jobs we all enjoy today. He deserves better treatment than what I've seen on this board.

If you are so ungrateful why dont you just go back to USAirways?

I find it abhorrent that someone with less than 5 years with this company could be so arrogant and disrespectful to someone who basically saved your ass from the unemployment line after you were laid off by USAir.

I don't believe you.




Prove it...

 

[squonk]

hydrarkt:

Negotiate every 5 years??? I think that 5 years is a little optimistic on your part. We grudgingly settled on 5 years this time. Don't expect it again. Do I hear 3 years??

Agreed. The ball is already in motion to head this off.

If FG really had his ear to the wall, he'd know this.

 

[gutshotdraw]

I do think that the company should try to grow NJME, although I don't know much about that market.

Netjets does not own NJME (more correctly National Air Service). It is strictly a marketing and consulting arrangement. NJ provides operational expertise and is paid a fee. All capital outlays for the growth of that operation are provided by local investment (primarily Middle-East oil money). Much different arrangement than NJE.

 

[hydrarkt]

Netjets does not own NJME (more correctly National Air Service). It is strictly a marketing and consulting arrangement. NJ provides operational expertise and is paid a fee. All capital outlays for the growth of that operation are provided by local investment (primarily Middle-East oil money). Much different arrangement than NJE.

I'm curious about how it works. Can you PM me with more details? Thanks

 

[Diesel]

Hyd its pretty easy. Air services owns njme and they pay nj for use of the name, marketing expertise and and anything else. They still run the business and keep it in the saudi family (pretty sure saudi).

Check pprune for more info. There is a ton of it there.

 

[gutshotdraw]

The idea was to move all the cousins, cousins of cousins, and other more distant members of the royal family that were using Saudia Royal Flight aircraft into shared aircraft that they (actually we, as oil consumers) paid for. The program was slow out of the gate. Several NJI pilots went over to Jeddah to provide experienced help in the G-IV a few years back but have long since returned. Aircraft now include Hawkers and Falcons as well as the Gulfstream. The acceptance of the fractional model has gradually improved in the Middle East and there was a major infusion of cash last year from a local investor to try and get the program "over the hump." Personally, I think the major problem early on was basing the program in the Saudi Kingdom instead of the more westernized and secular Dubai. Nevertheless, the program seems to be improving and there have been opportunities for American expats in the operation.

 

[SquirrelDog]

Fg?

Family Guy...Why so much anger and hostility?!?!

 

[Fozzy]

Family Guy...Why so much anger and hostility?!?!

Because the chicks won't talk to him.