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Old 16th Oct 2013, 08:08
  #14 (permalink)  
flynowpaylater
 
Join Date: Nov 2007
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Basically I also think it is funny, that everybody expects from a broker to publish his margin. Do you ask that your car dealer, hotel, supermarket, taxi driver etc too? Or does your maintenance provider, fuel supplier, caterer, airport tell you their margins.
Chief -
Car Dealer - buys his own stock and takes the commercial risk
Hotel - They own the hotel, employ the staff and take the commercial risk
Super market - Building, staff, stock - commercial risk
Taxi Driver - owns or rents his taxi, and takes the commercial risk
In fact all of your expamples own their own assets and take the commercial risk. Essentially, its their stock or service.

Brokers / agents sell other peoples stock or service. The brokers service is infact their ability to bring end user to supplier. All people want to know is what that service costs. Pretty normal scenario I would say.

Better examples would be :
Estate agent - Full disclosure / regulated
Travel Agent - Full disclosure / regulated
Insurance broker - Full disclosure / regulated
Stock broker - Full disclosure / regulated

It's about time that brokers woke up and get their act together with this or they will be subject to regulatory compliance and forced to go open book...as per the above noble trades (EASA are looking at this as are the FAA) Add to this that the average bizjet charterer is becoming more and more savvy and new innovations in communication technology making it far easier to book direct.

Isn't a bit mad that anyone can start a small company, call themselves Private Jet flights 4U Ltd, and sell a $200k charter without any regulation, industry oversight or qualification, yet you can't sell a £50 seat on scheduled flight without an ATOL licence, having given financial assurances to the regulator.

Is that coffee I smell?
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