PPRuNe Forums - View Single Post - Rex shares nosedive as profit sinks
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Old 25th Nov 2009, 09:37
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KRUSTY 34
 
Join Date: Jan 2006
Location: Sydney Australia
Posts: 2,305
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Great play on words HEALY, even if it probably wasn't intended!

What really cracks me up though was John Sharp's comment, "However there are now signs of a recovery. Rex is well poised for whatever lies ahead having spent the last six years strenthening the business."

Well poised John? Whatever lies ahead John? The very recovery you refer to will be the same recovery that will once again strip REX of the crews that it needs to operate the services that will enable REX to take advantage of said recovery! Only this time the cupboard is bare when it comes to replacements. In fact it was bare at the end last time, but the GFC gave them a global meltdown lifeline.

So what will happen when 40% of REX's pilots leave for greener pastures. Well, when you consider the ban on overtime as a result of the PIA, and the holes in crewing that simply cannot be filled, I reckon about a 20-30% reduction in the schedule!

Not a good week for memorable quotes John!
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