O'Leary suggests Jet2 and Globespan will go bust
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harrogate. Location: Leeds
Jet2: Leeds/Bradford.
What a coincidence.
I bet he wouldn't care if SkyEurope - an airline that'll almost certainly be gone within a year - was mentioned rather than Jet2.
Jet2: Leeds/Bradford.
What a coincidence.
I bet he wouldn't care if SkyEurope - an airline that'll almost certainly be gone within a year - was mentioned rather than Jet2.
Hi. My name's Tom, originally from Leeds but now living in the east midlands. Have done for 20 years. As several people on here know. Not that it's of any relevance or any of your business. Chump.
No vested interest in any airline. As I said before, most people don't have favourite airlines (people living in the real world, that is) - and I'm no exception, I'm afraid.
You're dead right though - I wouldn't care if SkyEurope was mentioned by MOL. See the paragraph above this one for an explanation (clue: I don't have an allegiance to any airline - remember?).
MOL is a gobsh*te. That's not a perspective unique to 'fans' of Jet2 or any other airline, or any other person for that matter. Nor is it an opinion that should surprise you or anyone else, given said airline exec's propensity to emit sh*te from his gob. It's a purely logical view to adopt.
Like I said before - I'm Joe Public. Is it so hard to believe that a regular, normal person can dislike people like MOL, or can't your tiny, skewed mind comprehend that the public has an opinion on these things too? Can you only deal in basic deduction, such as this Leeds = Jet2 employee obsession thing you have going on?
Leeds is a big place.
Moron.
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said airline exec's propensity to emit sh*te from his gob
I'm Joe Public
tiny, skewed mind comprehend that the public has an opinion on these things too?
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Quote:
What has that got to do with anything??
Fancy someone from Leeds trying to rebut negative comments about a Leeds-based airline.
What has that got to do with anything??
Fancy someone from Leeds trying to rebut negative comments about a Leeds-based airline.
Jet2 are not my favourite airline, I dont have favourites and even if I did what would it matter?? All I care about is when when some to$$er called MOL goes around chanting rubbish and saying airlines will go bust.
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Exactly Ryanair has messed up with their fuel hedging whereas Jet2 have theirs sorted throughout Summer 08, Winter 09/09 and Summer 09! As mentioned earlier so have Globespan so for now these two are here to stay!
Careful, chap - an airline managing to hedge its fuel for a couple of years doesn't guarantee its future at all. Plenty of other things can go tits up. Cheaper fuel is great, but not when it's going in planes that are only half full. Marketing spends and network quality/breadth need to be more robust than ever too.
There's also the chance, albeit a slim one at present, that fuel prices could come down, obviously meaning those airlines that didn't hedge their fuel could reap the rewards. Stranger things have happened.
Hedging is a risk, but then choosing not to hedge is also risky. Who'd be in the airline business, eh?
( JNP - *yawn*. I suggest you get a new idol. )
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Back on topic...
I saw MOL ranting on the BBC news at lunch and they said that FR were "bucking the current trend" by posting a large profit for the last 12 months and predicting flat for next year. They even said "what a contrast to BA"!
Do the BBC have shares in FR? Or is it just their usual "high" standards in journalism?
I saw MOL ranting on the BBC news at lunch and they said that FR were "bucking the current trend" by posting a large profit for the last 12 months and predicting flat for next year. They even said "what a contrast to BA"!
Do the BBC have shares in FR? Or is it just their usual "high" standards in journalism?
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Once again MOL talking out of his backside again. Jet2 going bust is what he wants to see, not the reality.
Jet2 has hedged it's fuel for this Summer, Winter and next Summer. It also owns all it's a/c (unlike Ryanair), has very profitable Royal mail contracts and has Group business outside airlines.
I seem to remember MOL telling everybody that Flybe were going to go bust in the late 90's.
Jet2 has hedged it's fuel for this Summer, Winter and next Summer. It also owns all it's a/c (unlike Ryanair), has very profitable Royal mail contracts and has Group business outside airlines.
I seem to remember MOL telling everybody that Flybe were going to go bust in the late 90's.
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I believe Sunfish hit the nail squarely on the head here.
RYR are not hedged and will haemorrhage money in coming months. They are selling seats that they cannot make money on in a race to the bottom of the barrel. O'leary clearly reckons if he bleats enough about his competitors going bust he may actually get lucky and see it happen. Then he can put his fares up to a level where he can profit again. Its hard to believe that RYR are not hedged. Lesser mistakes have brought down much better airlines than his.
RYR are not hedged and will haemorrhage money in coming months. They are selling seats that they cannot make money on in a race to the bottom of the barrel. O'leary clearly reckons if he bleats enough about his competitors going bust he may actually get lucky and see it happen. Then he can put his fares up to a level where he can profit again. Its hard to believe that RYR are not hedged. Lesser mistakes have brought down much better airlines than his.
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Just because MOL said it, it doesn't make it untrue.
There will be casualties in the low-cost airline field over the next year. It's a given. Certainly one of two of the central European based operators will probably fold, and it's not beyond the bounds of possibilities that one of the smaller UK operators will hit hard times.
For those saying "Jet 2 has done such and such... GSM has hedged until whenever.. GSM is only one part of a bigger business" etc it matters not one jot. We've seen bigger, more expansive operators fail before over the years who had all those things and more in place. In the UK, I do think that they are probably the ones in the most precarious position. GSM is unfocussed (is it a LCC, a lessor, a charter airline, a long haul airline?) while Jet2 is just in a much weaker position (route network, fleet etc). I don't know if they will fail, but common sense seems to dictate they are on shakier ground than the big boys like FR, EZY etc
No one can predict the future alas. But I'd urge people to not write off MOL's comments just because you might not like him.
We'll see in 12 months I guess!
There will be casualties in the low-cost airline field over the next year. It's a given. Certainly one of two of the central European based operators will probably fold, and it's not beyond the bounds of possibilities that one of the smaller UK operators will hit hard times.
For those saying "Jet 2 has done such and such... GSM has hedged until whenever.. GSM is only one part of a bigger business" etc it matters not one jot. We've seen bigger, more expansive operators fail before over the years who had all those things and more in place. In the UK, I do think that they are probably the ones in the most precarious position. GSM is unfocussed (is it a LCC, a lessor, a charter airline, a long haul airline?) while Jet2 is just in a much weaker position (route network, fleet etc). I don't know if they will fail, but common sense seems to dictate they are on shakier ground than the big boys like FR, EZY etc
No one can predict the future alas. But I'd urge people to not write off MOL's comments just because you might not like him.
We'll see in 12 months I guess!
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Why are people surprised by MOLs comments.Some of the exterior paint jobs on fr planes are more hurtful to other airlines/orgs.
MOL is entitled to his opinion and free speech.a little bit of a publicity stunt shouldnt worry the said airlines in question if they were in an ok position,should it?hmmm .Customers who purchased jet2 and globespan tickets shouldnt be worried by MOLs comments should they?hmmm
Bad publicity is good publicity
MOL talking(mouthing off other carriers) = free publicity
I believe the FR management is strong,ruthless if need be,and make no mistake they will pull out all the stops during this recession period,even if that involves grounding fleets or possibly selling aer lingus shares etc.
Also MOL is brutally honest in his commentary regarding FR themselves.Everybody knows about there lack of hedging etc etc.MOL called a recession and airline downturn last autumn.If only other airline/industry management were as transparent.
The truth hurts ,stop bashing people for there opinions
MOL is entitled to his opinion and free speech.a little bit of a publicity stunt shouldnt worry the said airlines in question if they were in an ok position,should it?hmmm .Customers who purchased jet2 and globespan tickets shouldnt be worried by MOLs comments should they?hmmm
Bad publicity is good publicity
MOL talking(mouthing off other carriers) = free publicity
I believe the FR management is strong,ruthless if need be,and make no mistake they will pull out all the stops during this recession period,even if that involves grounding fleets or possibly selling aer lingus shares etc.
Also MOL is brutally honest in his commentary regarding FR themselves.Everybody knows about there lack of hedging etc etc.MOL called a recession and airline downturn last autumn.If only other airline/industry management were as transparent.
The truth hurts ,stop bashing people for there opinions
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Bad publicity is good publicity
As with most things at present, confidence affects the airline industry. Now more then ever. MOL does often make sense when he talks, but his recent comments are not good for the sector as a whole. He's very close to shooting himself in the foot. It's not a case of unwarranted 'opinion bashing' or not liking MOL. It's more a case of applying a bit of common sense. Comments made earlier in this thread about how people sometimes project their own concerns on competitors may not be far off the mark in this case, and from where I'm sitting a few people are starting to get a little bit jittery about airlines and booking holidays. Confidence is low and MOL's comments today haven't done anything to stem the faith haemorrhage. Arguably he's made it worse. People do sit up and listen to MOL, which is something that may not have worked in his favour today.
As for who's stronger than who - it's all relative. With Ryanair's massive size comes bigger debt and a much higher fall if it all goes wrong. With the far more modest size of Jet2 comes a less robust network and a much older fleet. Each have pros, each have cons. But it very likely will not come down to a question of size if things start going wrong. Size don't mean sh*t.
It has to be said that the financial position of Jet2 really shouldn't be looked at purely from a lo-co airline perspective. As keeps being said - but is still important nonetheless - the airline is part of a larger business that is relatively buoyant, and controlled by a few key share holders. But then a large part of the rest of the business is FWCC, which is obviously in an industry that is also being crippled by both rising fuel costs and food costs. The airline's Royal Mail contracts are seemingly dependable, and the holiday business is reportedly doing OK too, so the point here is to not judge Jet2 solely as a lo-co airline. What it lacks as a lo-co might be compensated for in other areas of the business. Then again, it might not be. Who really knows? Not us. What's for certain though is that these people seem to be reasonably competent at running their sh*t - after all, they're a successful company. To date.
Interesting times lie ahead. As I said before, going by what I've been reading and hearing in the meeja and elsewhere about how things might turn out, I'm certainly very reluctant now to buy lo-co airline tickets for the time being. Personally, I'm going to sit it out for a while and watch. I have that luxury, because I'm in no hurry to fly anywhere for the time being. Lucky me.
This $130 a barrel oil won't be hitting the wider airline market for a good few months yet, but when/if it does things will very likely start to go off in a big way and I for one don't fancy losing my ever-decreasing disposable income in the process.
I'm by no means a panic-monger. I'm pretty optimistic that things won't be as bad as what the likes of ITN will have us believe, but just for the time being I'm going to sit in the terminal and watch, rather than sit on the plane.
Last edited by harrogate; 4th Jun 2008 at 01:36.
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MOL just makes me laugh. I think he is really worried more about his own lot.
I for one have no spare dosh like most people. I think it will effect all the low cost airlines with fewer bums on seats as we all tighten our belts. This will be a sh*t time for all who work in the industry, and many airlines will go out of business.
If we have another terrorist hit on aviation (God. I hope not) I dread the implications.
I for one have no spare dosh like most people. I think it will effect all the low cost airlines with fewer bums on seats as we all tighten our belts. This will be a sh*t time for all who work in the industry, and many airlines will go out of business.
If we have another terrorist hit on aviation (God. I hope not) I dread the implications.
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Fr Upsets Channex
PM has lashed out at Mr O'Leary, After FR said in a TV interview, Most Airlines inc Jet 2 would not survive if the Oil Price went above 200.
PM's response was, I'm sorry but it won't be Jet 2 who goes under, As we have already bought all the fuel we need for this summer's operations.
The comment by MO was unproffesional banter & totally unwaranted.
The full story is in the Bradford T&A on the website if anyone wants to read it further.
Regards.
PM's response was, I'm sorry but it won't be Jet 2 who goes under, As we have already bought all the fuel we need for this summer's operations.
The comment by MO was unproffesional banter & totally unwaranted.
The full story is in the Bradford T&A on the website if anyone wants to read it further.
Regards.
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You think that is bad. How distasteful is this one:-
http://www.independent.ie/business/i...374.html?r=RSS
http://www.independent.ie/business/i...374.html?r=RSS
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http://business.timesonline.co.uk/to...cle4061320.ece
So Mr O'Gob****e hasn't hedged, thus will only breakeven at $130/barrel? Oops.
So Mr O'Gob****e hasn't hedged, thus will only breakeven at $130/barrel? Oops.
Per Ardua ad Astraeus
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