In the 6 month period between 1st Jan & 30 Jun 2015, i.e. the financial window for which the ‘loss’ was reported, FZ operated approximately 35,000 sectors.
Accordingly, if the figure of $40m (
as stated by the press), is to be believed, then that equates to to
every single sector, as operated by FZ within that same 6 month period, making an average ‘loss’ of $1,143.
It is for sure, what with a fair part of the Arabian world (
and other parts) now being ablaze, that operating conditions are indeed ‘challenging’, and to say nothing of the tanking of the Russian Rouble vs the US Dollar (
see chart), but, nevertheless, one does rather have to wonder about some of FZ’s route selections (
it might seem as if some of them are chosen by throwing a dart at map of the world, much in the fashion of pin-the-tail-on-the-donkey?!) and it also raises questions about revenue management / yield management thereof.
But, aside from operating losses (
i.e. losses attributable and actually associated with operating of aircraft), I seem recall that there was also a rumour regarding some sort of ‘financial impropriety’ (
I’m being polite) that
might have occurred (
uhm, joining the dots, does anybody else remember that ‘Ethical Reporting’ email we all received from GaG on the 11th May 2015?!)… though whether there was $40m worth of ‘impropriety’, we’ll likely never know?!
Now as for how, in a subsequent period of only 3 months, that $40m ‘loss’ has seemingly managed to be turned around, i.e. when trading conditions haven’t substantially changed, is anyone’s guess?
Whilst slashing the size of various pieces of pre-flight paperwork might help the environment, it hardly represents even a tiny drop in the financial ocean. So as to how it was done, one can only imagine that, down in Dubai Marina (
deep within the bowls of the good ship 'Rockwell Collins' ), Walter’s meth lab is now cranked up to full production and the revenue from that is what has saved us?!
