Originally Posted by
assasin
Very simple in my opinion, even with LKH at the reigns it was making money every year before the jet op came in.
Simple thing is to get out of the jet op while you still can and save the rest of the business (saab) op that is making money.
The saab op has been funding all jet infrastructure and extra staff, no wonder it’s down on the books as not making money.
Rex’s mindset has been
1-jet op
2-Nje & Pelair
3-saab rpt op
Saab rpt flights last minute are being delayed and or cancelled so that the aircraft can be used on charter flights.
Due to being tight arses, they are down to around 35 operational Saabs out of a fleet of 52, due mainly to trying to cut costs on engines.
Over the years rex has had plenty of opportunities to update the fleet, choosing not because it costs money, well you can’t work an old fleet forever.
They can’t keep staff now because people are sick of being treated like **** and can see the writing on the wall, this includes long serving Captains to engineers, cadets in the current climate are out at first opportunity before their contract is up, it’s a train wreck and management are reaping what they’ve sowed.
Look at the salaries of management in the company, huge $$$.
Jet op 9 aircraft 120 pilots, saab op 52 aircraft around 35 operational and only 230ish pilots down from 300 + and AAPA was meant to stop Rex’s pilot shortages, millions invested in this place and it hasn’t elevated any crew shortages ever!!
The board had no option but to vote out LKH due to the asx investigation/questioning, I also believe he’s being investigated for similar in another country.
the Saab op was not funding the jet operation, it was a $150m cash call that did that and the cookie jar is looking like a hour glass. Remember VA tried to stay alive on loans and cash injections until their hour glass ran out of sand. A number in the industry tell me they are being late paid or put on payment plans which is again lack of cash ie revenue. One day the lemon is very dry..,,