NJA Struggling?

[NJAowner]

Ski&Surf -- that option for NJA is only for the 10 peak days each year. CS and others offer it all year round for a discount.

 

[theskyking]

Originally Posted by Diesel
Relax everything will be fine. Everyone is in a downturn but there are 5 year contracts.



Yeah but they would still have to "sell" their share to get out. Pretty sure the market is saturated right now.

Not exactly true. The owner has the option to sell his share back to the company after a specified time. Once this sell back window is reached, the owner just has to notify the company that they want to sell the share. The company then has a 30 day window to set the price for the share at a fair market price. Once the 30 days is up, the company is obligated to buy the share and the owner is out free and clear.

The effect the present market has on this scenario is the fair market price that is set for the buy out. The owner would be taking a major hit from what they paid originally to what the share is worth right now.

That's my understanding the buy out clause in all of the NJ contracts.

 

[NETFLIER]

Brokeflyer is either new to fractional/netjets, or just doesnt understand.(probably came from the airlines)

This Cre-cession(credit crunch + recession) will touch all of us. HOWEVER, Netjets is the strongest aviation company in the WORLD financially. Pretax Profit of $450 million in 07' and profit will be made in 08. 09, maybe not so much. We have many areas to cut, should we have to, before our pilot force will be affected.

When we spend a dollar now to advertise, it will actually be worth more than a dollar as competition will cut back due to cut backs. There is no change in our business plan going forward, but there will be much more "careful" spending my management on any growth. 2009 will be a very rough year for all, but i am glad i am at the Company i am, ONLY NETJETS!

 

[jehtplane]

Brokeflyer is either new to fractional/netjets, or just doesnt understand.(probably came from the airlines)

This Cre-cession(credit crunch + recession) will touch all of us. HOWEVER, Netjets is the strongest aviation company in the WORLD financially. Pretax Profit of $450 million in 07' and profit will be made in 08. 09, maybe not so much. We have many areas to cut, should we have to, before our pilot force will be affected.

When we spend a dollar now to advertise, it will actually be worth more than a dollar as competition will cut back due to cut backs. There is no change in our business plan going forward, but there will be much more "careful" spending my management on any growth. 2009 will be a very rough year for all, but i am glad i am at the Company i am, ONLY NETJETS!

I hope for your companies sake you are correct, but I sure would not want to be in the bottom 400 or so on your senoirity list. Good luck to us all.

 

[JungleJett]

Breaking NJA News......furlough.

I heard they just furloughed RTS!

Discuss.....










Seriously people...this is like arguing about death. When it comes, there is NOTHING you can really do about it. If my beloved NJA furloughs, I will probably be in the mix. Will it suck...sure. Will it be the end of the world...doubt it. Will I have to find another gig to pay the bills...yup. Will my kid eat...without a doubt. Will I keep a positive attitude...no other way to live. I trust that our management will make the right business choices and if cutting back on manning is one of them, then I will accept it and hope that I will not be gone for long. I would rather be where I am on the seniority list at NJA then in the top 15% at my previous employer.

 

[brokeflyer]

Brokeflyer is either new to fractional/netjets, or just doesnt understand.(probably came from the airlines)

This Cre-cession(credit crunch + recession) will touch all of us. HOWEVER, Netjets is the strongest aviation company in the WORLD financially. Pretax Profit of $450 million in 07' and profit will be made in 08. 09, maybe not so much. We have many areas to cut, should we have to, before our pilot force will be affected.

When we spend a dollar now to advertise, it will actually be worth more than a dollar as competition will cut back due to cut backs. There is no change in our business plan going forward, but there will be much more "careful" spending my management on any growth. 2009 will be a very rough year for all, but i am glad i am at the Company i am, ONLY NETJETS!

It's hard to be sarcastic online.....re-read my post.

your apology will be accepted.

 

[glasspilot]

I trust that our management will make the right business choices and if cutting back on manning is one of them, then I will accept it and hope that I will not be gone for long. I would rather be where I am on the seniority list at NJA then in the top 15% at my previous employer.

How in the tank do you have to be to make THAT statement? Ya'll running a cult over there?

 

[imacdog]

Glass, while no company is immune to the effects from a shrinking economy, I believe there are many companies out there that have a good chance of going completely under before NetJets does. I don't know where JJ came from but I also feel slightly more secure here than I would at my previous company at any seniority level.

 

[glasspilot]

Ya'll must have worked at one hell of a crap company to prefer furlough to it.

You do know furlough has ZERO pay...even at NetJets, right?

 

[imacdog]

Yes, Glass. However as long as the company is solvent, furlough comes with recall rights. If a company goes completely under, that is not the case. To clarify my previous post, even with the possibility of furlough at NetJets, I still consider it a better career opportunity than hoping my previous company stays solvent.