Originally Posted by
Romeo E.T.
I agree with your statement....to be able to list on the JSE as 1Time is planning to do means that the company is financially sound but needs a "capital injection" to fund further expansion...maybe this is why the impression of under payment/over-worked/no bonuses etc is managements way of trying to get the financial statements "over the top" so as to qualify for JSE listing.
Erm, investors are not stupid. Since the dot com bust and recent Enron swindles, investors, in particular those that invest in the aviation industry, have become very shrewd. There are also certain auditing requirements that a company must comply with before they can list, particularly if you look abroad (regulations such as SOX etc). There are not hoards of people out there waiting to throw good money after bad. What investors are looking for are things like good corporate governance (1time scores highly here - Mr O keeps his finger tightly on the pulse, whether it pleases the pilots or not), market leadership, competition (threats), the amount of years its going to take before the dividends pay the investment back, cash flow, capital invested and return on capital invested, and goodwill. In addition, all listed companies have to produce an annual report according to the (for the moment at least) the GAAP standards. In this report, remuneration at a director level is fully disclosed, plus all interests. Legal compliancy is also disclosed, and as a member of the public or a 1time employee, you will be able to see what is disclosed and challenge it if you feel its misrepresentative or wrong (for example, if the pilots are working more than the legal maximum hours). With regards to the pay issues surrounding pilots - one word for people complaining - amico...