My condolences to all 110+ Jet magic employees!
Based at CRK, I watched daily the pax loads. They were chaotic in percentage, but never the less yielded an on going average that appeared to be slowly increaseing. Lot's of out going payments that didn't match the revenue returns!
37 pilots for three aircraft,Hosties,engineers, gound staff new call center, Own maint, Aer Rianta charges as well as the other airports charges abroad, leased Turboprop's from Germany, even a sub charter of Westair's HS 125-700.........the mind boggles. Nothing wrong with the Operational end and the people involved. Great team environment evidently. However,
The Biz Plan and marketing was hopeless. A serious lack of strategy and awareness of the ficleness of the industry.€11 million debt in 9 months. Was an audit completed at the 3 and 6 month mark?
RTE were very eager to announce the poor 40 lads who were stranded in Cork for a stag party! But they seemed to miss the point of the seriousness situation of 110 people losing their jobs who have mortgages, car payments, kids etc, let alone the relocation move and change that will impact them financially!
I hope they all get jobs very soon, despite the dark clouds Ryanairs senior exec's announced recently for 'Low Cost' airlines.
Good Luck to all at Jet Magic.
