xo jet problems

[OPECJet]

Sorry guys, just trying to dispell rumors before they get out of hand. Thanks for the reality check.

It's cool man.:beer:

 

[NJAowner]

Billions in Equity

X-Rated -- I do not think XO has "billions in equity" from what I have read from various sources which do not include this board. XO Jets has received millions (with an "m") in equity and over a billion in credit will be available to purchase planes (and I can tell you that there a just one or two or a few more conditions tied to those credit facilities).

But you do have some good backing but they are not infalliable.

Good luck

Fly safe.

 

[X-rated]

X-Rated -- I do not think XO has "billions in equity" from what I have read from various sources which do not include this board. XO Jets has received millions (with an "m") in equity and over a billion in credit will be available to purchase planes (and I can tell you that there a just one or two or a few more conditions tied to those credit facilities).

But you do have some good backing but they are not infalliable.

Good luck

Fly safe.

Thanks NJOwner, but I said equity financing. 900M from the Canadian govt and 1.5 Billian with a "B" from Tasameem U.A.E., and 700 million from various other sources. I'm sure there are conditions, but what makes you think we are not meeting those conditions? Like I said, 3.1 Billion dollars available for equity financing plus hundreds of millions of cash in the bank! I'm not sure I understand the point of your post?

 

[skiandsurf]

Wouldn't be the first time the Pilots are the last to find out.

Its kind of scary when pilots think they know EVERYTHING about their company. I remember right after the olympics, I was talking to an XOJet pilot. He was telling me that they had a trip to Beijing. He seemed to know, who it was, how much they paid, and how much profit was made.

Its gotta make you wonder whats going on when the company is giving out that much info to the pilots.

(To verify my story... and since I dont work there, I can say it was a basketball player, that plays in the So Cal area).

 

[clydefastly]

Its kind of scary when pilots think they know EVERYTHING about their company. I remember right after the olympics, I was talking to an XOJet pilot. He was telling me that they had a trip to Beijing. He seemed to know, who it was, how much they paid, and how much profit was made.

Its gotta make you wonder whats going on when the company is giving out that much info to the pilots.

(To verify my story... and since I dont work there, I can say it was a basketball player, that plays in the So Cal area).

It isn't that unusual for some of the info you mentioned to get to the flight crew. We will obviously know who we are flying. And if out of curiosity the crew asks what it costs to fly a X from SFO to Beijing, and if it is profitable, why not? Owner information and costs might have a tighter lid, but charter flights are a different story.

We don't know everything about our company, but a good amount of info is shared with the pilot group. There have been many instances where pilots have helped improve our product because they were in the know, and their suggestions were shared with the decision makers.

We do have some pilots in leadership positions that at times have direct contact with the CEO and the Board of Directors at meetings, and they do get to share some of the info from those meetings with the rest of the pilot group.

It is a different culture here. We are still "need to know", but our mgmt thinks we should know more of what is going on, as compared to other fracs and charter companies.

 

[Outta Here]

sounds like X-Rated is drinking the ole cool-aide. I remember when I did that with my last company. The pilots are always the last to know

 

[t-bone]

It isn't that unusual for some of the info you mentioned to get to the flight crew. We will obviously know who we are flying. And if out of curiosity the crew asks what it costs to fly a X from SFO to Beijing, and if it is profitable, why not? Owner information and costs might have a tighter lid, but charter flights are a different story.

We don't know everything about our company, but a good amount of info is shared with the pilot group. There have been many instances where pilots have helped improve our product because they were in the know, and their suggestions were shared with the decision makers.

We do have some pilots in leadership positions that at times have direct contact with the CEO and the Board of Directors at meetings, and they do get to share some of the info from those meetings with the rest of the pilot group.

It is a different culture here. We are still "need to know", but our mgmt thinks we should know more of what is going on, as compared to other fracs and charter companies.

But under no circumstances should we be discussing these intimate details of our company with anyone outside of the company. Especially who we are flying. Our clients pay a lot for that confidentiality, and it's our job to respect it.

 

[NJAowner]

X-- credit is not equity, plain and simple. It is great to have the financing that XO has but it is not equity. Plus, the conditions don't just incldue what XO is doling and in its control, they basically boil down to does the lender (Bombardier, UAE, etc.) feel like making the loan based upon what is happening everywhere and anywhere in the world. That is the exact reason why in the past few months many companies have been pulling down their credit and saving the cash (even though they are paying the interest on it) even though they do not need it yet.

The most basic, and strange fact about business credit is when you don't need it you are given tons of it, and when youactually need it it is all gone.

Good luck.

P.S. - Despite many communications with your sales people, I still have many problems with your model for someone who needs 100-150 hours per year. The costs greatly exceed those of my NJA share ownership and significantly exceed the costs of if I bought a Marquis card to handle the trips. The "fixed price" plan is a marketing illusion. I have not looked at your ownership plan since earlier in the year but for me it did not make sense then. Plus, you practically have to beg to get someone to return your emails or calls. I guess XO is extremely busy. But they are better than Talon Air who despite numerous emails and voice mails, has yet to call me back even once about handling some supplemental lift for hours I am running over on my NJA share.

 

[Whale Rider]

:laugh:I LOVE WORKING AT XOJET!:laugh:

 

[Hung Start]

X-- Plus, you practically have to beg to get someone to return your emails or calls. I guess XO is extremely busy. But they are better than Talon Air who despite numerous emails and voice mails, has yet to call me back even once about handling some supplemental lift for hours I am running over on my NJA share.

Well, Mr. NJA Owner, have you considered one of Flexjet's card programs for your supplimental lift? PM me if you wish and I promise a quick return from our sales staff!

Hung
Just a FX pilot, not sales.

 

[Semore Butts]

I applaude your initiation Hung

Did they initiate a program at Flex so you guys get a commision?

I once flew an owner in the Lear 60 that said he was getting out.

He came up front and we talked to him at length about comparisons.

He was convinced, and assured us we would get the credit and commision.

He took our information and we never heard a thing.

We called in our experience to company and also talked to sales.

My CPT followed up and was basically as well after that and we nver got squat.

Does Flex feel like Bombardier is selling to the competition? I mean, will that effect you?

I have alot of buddies at Flex. They were good to me, but I'm glad I moved on.

Take care, Semore

 

[clydefastly]

But under no circumstances should we be discussing these intimate details of our company with anyone outside of the company. Especially who we are flying. Our clients pay a lot for that confidentiality, and it's our job to respect it.

I totally agree T, the proper discretion was not used for skiandsurf to find out those details.

Skiandsurf Thank You for being professional and not posting the names of those clients.

 

[flyipilot]

:laugh:I LOVE WORKING AT XOJET!:laugh:

Well, enjoy it while it lasts!

 

[Semore Butts]

Good for you Whale Rider!

Say, are you into fat chicks or something?

Hoist one in remembrance of he vets today if ya can.

I know they would appreciate it!

 

[captain007]

I have 2 friends that work there and they are doing great. They love their job and are treated well. One told me they are also starting interviews back up.