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.

 

[CRJFlyer]

I don't think Glass or any other non-NJA pilots know how easy and good we have it here and how thoroughly happy most of us are working here. I wouldn't believe it til I actually applied and started 2 yrs ago.

I dreaded heading out for a simple 4 day at Comair. At NJ I don't get upset at all about starting a 6 day.. By day 5 I'm just about ready to get home, but not counting the hours like at the airlines.

 

[B19 Flyer]

Come on...you can do better than that. You are comparing apples and oranges here.

Where is it apples and oranges? In aviation, we repeatedly see unions dig their heels in and drive companies to the edge of bankruptcy or into it before they act, costing innocent employees, vendors and clients income, jobs and services.

Once again, the UAW has dug it's heels in (just like all the aviation based unions) and the bailout was stopped (which is the best thing anyway, but that's a different conversation).

Which part of $20 more per hour per employee over the competition wasn't understood?

It's not apples and oranges, it's the union way.

 

[Semore Butts]

Huh?

B-19 Said;

In aviation, we repeatedly see unions dig their heels in and drive companies to the edge of bankruptcy or into it before they act, costing innocent employees, vendors and clients income, jobs and services.

So XOJET terminates people out of seniority (which you endorse) and Citation Shares furloughs people and what does that have to do with a union?

That points square at management.

You aren't so smart or talented? (As you said in another post)

(When you say smart, you mean like, to lazy to fly the line right?)

(When you say talent, you mean like "ass kissing" and being a "yes man" right?)

I think you have done more to organize us then we could have done ourselves.

You greedy ba$tards have tipped your hands to the whole nation.

As the UAW president says, emplyee wages amounts to about 10% of company costs. That leaves you in management responsible for the rest.

Talented and smarter.... HAHAHAHAHAHAHA!!!!!! What a joke.

Here son, here is your Christmas present, I got it with my bonus for laying off somebody other kids dad. They won't be having much of a Christmas this year because I'm so smart and talented.

 

[RP170]

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.

Ah, thanks for reminding me! Only 300 below me but it sure beats the heck out of working at RAH, even as a captain.

 

[brokeflyer]

Where is it apples and oranges? In aviation, we repeatedly see management dig their heels in and drive companies to the edge of bankruptcy or into it before they act, costing innocent employees, vendors and clients income, jobs and services.

Once again, management has dug it's heels in (just like all the aviation based managers) and the bailout was stopped (which is the best thing anyway, but that's a different conversation).

Which part of $20 more per hour per employee over the competition wasn't understood?

It's not apples and oranges, it's the management way.

 

[JungleJett]

Glass,

I came from a regional which in my opinion was/is at the top of the heap. Great place to work and we offered a superior product. I came to NJA a little less than a year ago so I might be in the list...if it ever happens.

Coming to NJA was by far the best move I have ever made in my aviation career. The difference I see here is that most of our pilots...hell..most of the employees feel a sense of ownership in this company. It really speaks volumes and is a direct result of how we are treated. There will always be the ones who bitch, but they are still here so it must not be that bad.

I really am not overly concerned about furlough. Like I said, if it happens, it happens. I ALWAYS worried about Chapter 11, closing of bases, commuting, lack of rest, lack of proper meals, someone buying us....ect. I cannot put a price on the piece of mind I have now.

So...yeah...I am cool with where I am. If I do get furloughed, I will just take some mil leave. I have a plan and money in the bank..so I feel pretty good.

How about you? You happy where you are? Plan in spending the rest of career where you are? Paid well? Good benefits? Eat well on the road? Fly a nice properly maintained airplane? Traveling all over the country? I hope you are...

 

[acaTerry]

At least the 18 day you see some productivity, the 15 day is a mess from a productivity stand point.

QUIET!!!!!!!!!!! I like that 15 day schedule!!!!!!!!!!!

 

[o2bflyn]

Where is it apples and oranges? In aviation, we repeatedly see unions dig their heels in and drive companies to the edge of bankruptcy or into it before they act, costing innocent employees, vendors and clients income, jobs and services.

Once again, the UAW has dug it's heels in (just like all the aviation based unions) and the bailout was stopped (which is the best thing anyway, but that's a different conversation).

Which part of $20 more per hour per employee over the competition wasn't understood?

It's not apples and oranges, it's the union way.

Exactly....you are comparing UAW to ALPA.....neither of which represents any fractionals now or ever. Apples and Oranges.

 

[learflyer]

Exactly....you are comparing UAW to ALPA.....neither of which represents any fractionals now or ever. Apples and Oranges.

At least ALPA took several concessions over the years to save thier respective companies. The UAW thugs said NO to concessions and demanded that the American tax payer bail them out. Well ******************** them. Let this recession naturally weed out the weak companies, and build on the strong. The way it is supposed to be.

 

[727C47]

At least ALPA took several concessions over the years to save thier respective companies. The UAW thugs said NO to concessions and demanded that the American tax payer bail them out. Well ******************** them. Let this recession naturally weed out the weak companies, and build on the strong. The way it is supposed to be.

UAW thugs? Our GOP president realizes that losing that manufacturing base is a national security issue,the executive branch has more savvy than a few southern senators in bed with some foreign manufacturers (all politics is local I get it,even so),GM,and Ford will survive this,Chrysler probably not,for a lot of reasons. Please ,please,broaden your horizons beyond fox news,I'm not trying to flame you,but come on.