NJA Struggling?

[starcheckdriver]

I am hearing rumors trickle out of Netjets that furloughs are just around the corner. Is there any truth to this or is this just rumor based on what happened at FLOPs recently? I do not work for NJA so all of this is hearsay.

 

[Fozzy]

I have heard nothing of the sort. Could it happen, sure. Is it imminent? I don't think so.

 

[Diesel]

Trust me even if NJ had to furlough they wouldn't. Remember this game is as much about appearance as it is about profit. NJ wants to show that they are stronger by not furloughing. Especially if CS hasn't furloughed.

Remember Furloughs show that a company might be weak and the owners who are investors might feel that their investment is not sound.

In the grand scheme of things the pilots are really part of the smallest costs out there unlike the airlines.

 

[fischman]

It is a rumor. I spoke with an NJASAP eboard member last week and he said at this time the company has no intention in coming to the union for furloughs. He also said NJA management has been doing some impressive cost saving measures proactivly. What they are? I have no clue.

 

[fly4funcrj]

It is a rumor. I spoke with an NJASAP eboard member last week and he said at this time the company has no intention in coming to the union for furloughs. He also said NJA management has been doing some impressive cost saving measures proactivly. What they are? I have no clue.

They have asked the magic 8 ball "Magic eight ball, are we saving money?"

Magic 8 ball "yes"

Now a vp of something has just saved his job

So far, furloughs are a figment of someone's imagination. However, I believe if netjets was looking at prolonged (over 8 months-1 year) of decreased flight demand, they probably would furlough. If they feel this could only last for 6 months or less, the cost of retraining and stuff would exceed the savings of furlough.. Just an opinion..

 

[gutshotdraw]

Diesel is correct (I always hate to admit that :bawling: ). As long as the company isn't bleeding owners (and therefore their monthly management fees), Netjets does just fine when airplanes don't move. Some would tell you it is actually more profitable for the airplanes to sit. That's not exactly true because the company makes most if its money by selling airplanes.

I don't know what our current churn rate is but I do know that we have picked up two Fortune 500 clients in recent weeks as they closed down their flight departments because of depressed stock prices. They don't want to risk complaints from shareholders about the company owning airplanes. They still aren't going back to the airlines but a fractional share or flight card solves lots of PR problems for huge companies.

How much longer do you think it will be before Ford or GM (both?) close their departments down after the PR beating they took last week?

 

[hydrarkt]

I heard that Ford is seriously considering closing their flight department. And I don't think that they'll be flying on Northwest!

 

[Diesel]

Its nice to hear a captain say he's wrong. I don't hear it nearly enough.

Remember the crews are really the cheapest part of the Fractional model.

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

 

[F/O]

How much longer do you think it will be before Ford or GM (both?) close their departments down after the PR beating they took last week?

Dunno, but this quote from David Axelrod didn't sound too good for them:

"I hope that they will come back to Washington in early December — on commercial flights — with a plan,"

http://news.aol.com/article/obama-intensifies-focus-with-economy-in/257320

 

[jonjuan]

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

Not according to this...

http://www.fractrade.com/

 

[brokeflyer]

its just rumor, I spoke to "dad" last week and this came up. If we woulda hired another 300 this year THEN MAYBE a few would have to be let go.

I think that is a big part of the slow down in hiring. Since the demand is so great to work here they know they wont have trouble finding anyone. So its better relax the staffing for growth to prevent a lay-off.

 

[o2bflyn]

Not according to this...

http://www.fractrade.com/

It looks like its a company that trades contracts. It does not necessarily mean the contracts go away. Actually a pretty innovative idea. I don't think you are going to see a drop in existing contracts because of it. Maybe for other reasons, but not because of this company.

Pretty ironic that its run by an Ex-Netjets/EJM employee.

 

[jppt2000]

It is amazing to see the Netjets haters

It's impressive to see the Netjets-fractional-haters come out of the woodwork.

Why does someone from Netjets and/or other fractionals always reply to threads like this as if they're obligated to defend their company's financial position on an anonymous internet messageboard?
It's amusing to read the conjecture from anonymous pilots who allegedly "are in the know" about the financial health of our company.

I also now see junior folks I fly with worried about an impending layoff based on rumors.
Wow, imagine what their families, loved ones, must be going through if they bring these venom-based rumors home.

Why generate fear, uncertainty and doubt by reacting to unsubstantiated rumors posted by anonymous messageboard posters?

Why not use our union messageboard for rumor control.
Let the (NJA-frac-haters ) look for their entertainment elsewhere.

PS: this is pretty much true for all businesses:
Paraphrasing uncle Warren:
You have to wait for the tide to go out before you learn who has been swimming naked.

 

[Diesel]

An Ex employee that was thrown out of his office and just fell off the face of the earth.

 

[o2bflyn]

An Ex employee that was thrown out of his office and just fell off the face of the earth.

ah.....did not know that.