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Old 30th Nov 2007, 21:36
  #127 (permalink)  
Silver Boy
 
Join Date: Oct 2007
Location: Luton Airport
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Cool Silverjet - The Unsivilised Place to Work (going bust?)

Best on board,

Note you haven't replied to my last post, but I guess you are now busy fighting the pro-Union people instead of me.

"As for Days off... Your informants seem to fail to inform you that they are sometimes 'requested' to work on a day off... they don't have to, there is always such a word as No..."


My roster is bad enough without that added complication.

I agree however that I can say no.

I do not agree with your use of 'Requested' - unless you count the same meaning as someone saying 'if you don't the flight will be cancelled'.

"Not Poo Pooing your idea IFS, but hopefully proving a point that with discussion, the involvement of a 3rd party should be a very last resort!"

Perhaps we have got to that stage already with the management, as other people are now suggesting?



Judder-100,

Thanks for the post.

hello everyone now please stop slagging the company off...

o.k. I'll put my rose-tinted glasses on, only be positive and ignore all the mistakes and problems in the company.

Come to think of it I might also stand to be elected to government in the Labour party!


Yes let's get on with the job. But no - debate and truth is fundamental to change for the good.

Silverjet has the potential to be so much more, however it is held back by the very people at the top who are meant to be leading it.


But the way the financial side is looking, this may all not matter shortly!



Befree,

Thank you for your post and information.

"An established airline can operate for decades while broke as long as it does not need to expand. To expand you need more cash which is when the books become vital."

Two problems here, we are not established and we are expanding.

After reading this, I thought I would read the information that you directed me to, and I drew the following conclusions from it:

Revenue last six months £30.6 million
Cost of provision of everything except ticket sales, marketing and all employees £30 million.

So the loss of £12 million is employees, marketing, ticket sales e.t.c.

So if we ran the airline without any employees or sales it would work - great!

O.K. so far so good / bad?

The first thing that really worries me:

The revenue was broken down -

Scheduled £12.2 million - Charter £18.4 million. Does this mean that the revenue from Flyjet has actually been the big revenue contributor to date?

Sure with the Flyjet operation out of action the loss will be less but so will be the revenue, and pro-rata it appears that the loss could be greater.

Now here is what really worries me.

Everything hinges around carrying 80%+ loads.

Not difficult to work out on a 100 seat aircraft.

I for one am not seeing this!

Even in the report it states that the number of passengers, not load factor, has increased by 38%. This is due to the second aircraft. Surely this should be 100% with a second aircraft, or 200% now with 3, just to stand still?

I know it early days, but the potential for even greater losses is certainly there, and I am really concerned that without Flyjet the situation might be worse.

You highlight the price of fuel, and with that unlikely to decrease, and combined the airlines inability to gain sufficient credit to buy in advance, I can see why this is not going to go away.

I see the directors are putting in £1/2 million of their own cash, but at the rate the operation is burning money that cash alone would only last 2 weeks.

So my conclusion is that the next few months will be make or break for the company, and without the further cash injection that we are seeking the operation would collaspe.

Real pleased I haven't any shares in the company, that's if I could afford them!

I ran all of my thoughts past an accountant friend of mine, and after seeing the report he drew that same conclusions. 'Befree' any comments?


I off to check whether my salary has been paid this month........


Happy Flying, job hunting, salary payment checking e.t.c.


Silver Boy. x

Silverjet - The Unsivilised Place to Work (going bust?)
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