Cargolux in trouble?

[Woodman]

In Schiphol yesterday I heard that Cargolux was in trouble and the vultures were circling. No idea if its true but this is the rumour forum.

[Squawk7777]

I heard this other thing about Cargolux that they use the pay-for-training program. Pilots willing to get heavy + international experience can join their f/o program for some rediculous amount. Any truth in this?

7 7 7 7

[Valve Kilmer]

Cargolux in trouble? I find that very hard to believe. However no smoke without fire somewhere.

With regards to the trendy "pay and play" contracts being offered by several operators - read more here! (http://www.pprune.org/forums/showthread.php?threadid=148461)

VK

[acmi48]

cargolux in trouble

with a record profit on the horizon and strong route network commercially we are sound. the only people in 'trouble' are a bunch of disaaffected individuals who dont know when they have it so good. My god.. the airline even carries the flt decks bags up the stairs for them.

maybe lagos will toughen some of them up



:*

[offa]

Woodman - you been on some exotic baccy in AMS????

[Shagtastic]

Acmi48 says 'record profits on the way' etc etc, why the need to offer a self funded 747 type rating scheme for F/O's then?

It seems ironic that cashed-up (experienced) wanabee's should have to compensate the monthly wage bill if this is the case.

If the company is on track to make records profits then greed is certainly alive and well amongst the accountants running Cargolux..

[GlueBall]

...Besides, Cargolux still has wads of cash to continue to pay contractors to fly its freight. :uhoh:

[PrettyBoy]

Hi ACMI,
A disappointing post from you. I thought you knew what you were talking about... The fact that our suitcases are being carried up the stairs at a few destinations is hardly the issue here. Personally I have 3 off-days in the next 28 days with 90 Block Hours. All three of those days falls in rest periods. I welcome anyone else in the business to top that type of working conditions, especially flying long haul!

[Buster Hyman]

Can only speak from experience acmi, but the crews carried their own bags to the top of the steps in MEL. We tied them down of course. Although, I imagine in the "Kingdom of the Expats", this would probably be the norm...are you referring to LUX perhaps?

As for CV in trouble...still expanding the fleet & the network from what I'm hearing. Go you good thing!:ok:

[CR2]

Woodman: What do you mean by "trouble"?

Financial? - doubt it. As others have said, record profits again.

Regulatory?

Unions?

:confused:

[CargoMatatu]

In trouble?:confused: Can't see that one, somehow.

So who are the circling vultures? Instigators of the rumour, maybe?

Matatu Man:cool:

[Dark Jedi]

aaah rumor here's a word i like being known as the apostle of evil in certain offices in a certain company here's one that is not a rumor CV pilots are at average 40 % cheaper than other "freighters" chew on that CV management and revise your "rent-a-pilot" politics

[Hunter58]

???

Excuse my ignorance, but what has the (for you) 'oh-so-appalling-hiring-and-employment-policy' of CV to do with this thread?

[OneWorld22]

I don't think looking at the figures that CV is in trouble.

Estimated revenue for 2004 was expected to be $1.1 billion.

Op profit for 2003 $64.9 million up 17%. That's not too bad at all!

The 14th B747-400F scheduled to arrive in October and the board approved purchase of another 400F.

The only fly in the ointment is the situation with SAir's 34.9% shareholding. After they went bust that asset went to the trustee for the creditors. The trustee is under pressure from the creditors on this.

[CR2]

2004 profit expected to be ~75M US$.

[4r7f]

The only trouble I see is the lousy relationship between pilots and management leading to a low morale. Also due to extremely poor rostering there is a higher than normal sickness rate.

[Algy]

...any developments on possible A380 deal?

[OneWorld22]

4r7f,

Are things really that bad? It's a shame to come here and read that so many pilots are pi**ed off. That's never a good sign.

It's funny because in Decembers ATW magazine, their CEO was waxing lyrically about how great the company was and how wonderful is was doing and it's the pride of Europe etc

Are CV using contracted pilots from agencies? I know there has been big trouble in this area before.

[cargoflyer]

read that so many pilots are pi**ed off.

sure its a pilot rumour forum, but there ain`t only pilots that are... - then on the other hand there are 300+ versus a 100 "out-smarted" other folks :{

[nose door]

Sounds like someone on the forum here lives in a country that has a very high taxation rate, wants to travel for 8 hours each way to get to work twice, or maybe 3 times a month, fills their car up with cheap fuel in Luxembourg, whilst paying less income tax then he would of in his country of origin, benefits from the generous social security from the state he works in, flies nearly brand new a/c, has 6weeks hols a year, good remuneration, and when their are away from base is paid a good per-diem to spend as they whish, stays in 4-5star hotels.....etc etc. Yep i agree with him, u are entitled to be pissed off, so pissed off he should go and look at the conditions of flying at other outfits and get facts on that....(u obviously don't understand that much about aviation as most airlines have poor relationships with management and crewing, its "their" job remmeber) as opposed to whining when u get your profit share, because of your the colleagues who haven't been sick have done your flights for u, due the these obscene pressure's your under.
If you don't like the heat get out of the fire, and let someone who wants the job do it properly instead. (even if they have a slight snifel)
:{

[4r7f]

well dear colleagues; the post of nose door shows where the problem is: sounds to me like the typical Lux deskjockey in his overstaffed office being p****d off because he cant´t go on all these wonderful trips. You wouldn´t believe the number of "managers", "heads of", "vice presidents" and "senior VP´s" we have in this company.

They do not seem to understand that they all live off a fleet of 14 A/C that have to be kept going by technicians that work day and night, a good sales team and finally by the crews who frequently exceed theit duty limits to get the job done.

especially interesting is his understanding of aviation:
quote: "its managements job to have a poor relationship with the crews"!!!

That says it all....

BTW nose door when have you been in your office for 16 to 20 hours the last time? Of course before crawling under mummys blanket every night.

your attacks on foreigners working in lux is appaling. They need them - its that simple. Train more burgers and you might be able to send them home and finally live in peace.:cool:

[cargoflyer]

.... off a fleet of 14 A/C .....

Are you "transmitting your vibes" from the future (?) :8

Are we too busy "learning the org-chart by heart" to know "Who`s Who"?, so that we can't get current fleet status correct, "Mr 4R7F" :E

;)

B.T.W. I think "nose door" got it "spot on" as to "How you are so absolutely correct about justifying your un-happiness" :p "

[nose door]

Well i'm glad if my "morale boosting" post has given you a little hope, and that they're are some of your colleagues who work as hard or harder then you...in a couple of posts time you may even come out and say your happy to be working for a "solid company" that continually puts bread and caviar in your pocket.
But i some how feel that if you were to leave us, then the company would fall into the clutches of bankruptcy, due to the complete miss-management that you are so well informed of....so your noted effort is much appreciated.
I know all about working in an office on the 33rd-39th floor, but instead on moaning 16-20 hours, try reading a comic book might i suggest superman or even the rear pages of flight international for added inspiration:D

[4r7f]

Thanks god there are people like you saving us from the greed and lazyness of the crews.

I shall include you in my evening prayers!:ok:

[CR2]

Luxembourg / Washington, January 26, 2005 - AIR TRANSPORT WORLD
MAGAZINE, the monthly magazine covering the global air industry, has named
Luxembourg-based CARGOLUX Airlines International S.A. the “CARGO
AIRLINE OF THE YEAR 2005”. As ATW notes in its press release on the
2005 winners : “Cargolux belongs to the elite group of European network
carriers that have been profitable for the past five years “, adding that Cargolux
“understands that its home market isn’t the Grand-Duchy, nor even Europe, but
rather world trade itself”.
The award ceremony will take place in Washington DC on 22 February 2005.
“We are honoured and very proud to receive this distinction by Air Transport World”,
says CEO and President of Cargolux Uli Ogiermann. “This reward is a recognition of
the efforts delivered daily by our people worldwide and of our commitment to shape
our network and our operations to the specific needs of the markets. I also want to
thank our customers for this award. Their partnership with Cargolux made this
success possible “.
After 35 years of company history, Cargolux has become Europe’s largest all-cargo
carrier and established itself among the top ten cargo airlines worldwide. In 2004,
the company achieved its eleventh profitable year in a row. In 2004 Cargolux also
achieved an outstanding performance, as CEO Ulrich Ogiermann stated in a recent
interview with ATW : “It’s quite a substantial jump when you reach the 1 billion
USD revenue gap; it is the barrier that divides the smaller companies from the more
advanced companies. To remain profitable is a great achievement as well”.
A dedicated workforce of 1,300, many of whom having a long working record with
the company, a worldwide presence based on a sound network of destinations
implemented in the frame of a globalization-driven business orientation, a customer
philosophy that focuses on forwarders’ needs and a pure freighter fleet composed of
currently 13 Boeing 747-400F freighters, all these caracteristics join to make
Cargolux a premium and one of the most performing cargo airlines in the global cargo
worldwide business.

[Flying_Frisbee]

Glad to hear that "Cargolux
“understands that its home market isn’t the Grand-Duchy..."
So those big planes might come in useful afrer all! :D

[offa]

.... so where did the original "vultures" come from?