orange in the red (Merged)
Join Date: Jan 1999
Location: London, UK
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Strange place, the internet...
You can read all sorts of cr@p on the web...how about this from easyJet's website:
"An open culture that is autonomous and non-hierarchical with an approachable senior management team."
"We view our people as our Number One asset and they are fundamental to our success."
And my favourite:
"Stability in a dynamic environment"
Don't believe all you read on the web...
"An open culture that is autonomous and non-hierarchical with an approachable senior management team."
"We view our people as our Number One asset and they are fundamental to our success."
And my favourite:
"Stability in a dynamic environment"
Don't believe all you read on the web...
Join Date: Jul 2001
Location: London
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How many airlines can publish a £47m loss, and on the same day see such a rise in share price?
eJ have been honest with the City and been feeding the 'bad news' about yields etc. for long enough (see the recent decline in share value) to avoid a big shock on the day when results are finally announced.
The 50 head office jobs are no surprise.....a little trimming is required in a few areas. However, any slack in a lot of areas will soon be taken up with the planned growth over the coming year.
With hindsight the DBA episode might be looked on as a mistake....but it has given eJ a valuable insight into the German market and labour laws, and potentially saved an expensive mistake at a later date. In the longer term this may prove to be 'money well spent' rather than an 'expensive mistake'.
The business plan is still strong. Costs may not be as low as RYR, but then the RYR market is, in many respects, very different (where the hell is Hahn?). eJ costs are certainly lower than the "traditional" airlines, and there's over £300m in the bank. Easter has fallen in April this year, the (traditionally profitable) summer is on the way, the integration is complete.....don't write them off yet!
eJ have been honest with the City and been feeding the 'bad news' about yields etc. for long enough (see the recent decline in share value) to avoid a big shock on the day when results are finally announced.
The 50 head office jobs are no surprise.....a little trimming is required in a few areas. However, any slack in a lot of areas will soon be taken up with the planned growth over the coming year.
With hindsight the DBA episode might be looked on as a mistake....but it has given eJ a valuable insight into the German market and labour laws, and potentially saved an expensive mistake at a later date. In the longer term this may prove to be 'money well spent' rather than an 'expensive mistake'.
The business plan is still strong. Costs may not be as low as RYR, but then the RYR market is, in many respects, very different (where the hell is Hahn?). eJ costs are certainly lower than the "traditional" airlines, and there's over £300m in the bank. Easter has fallen in April this year, the (traditionally profitable) summer is on the way, the integration is complete.....don't write them off yet!
Join Date: May 1999
Location: Vancouver, BC.
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Getafix
What's RYA's last quarter results with respect to yield? And 70% higher than what? you know as well as I that to say 70% higher means nothing in this game with defining all the assumptions. easyJet of course also offer our passengers a flight to major destination airports and not to airfields in the country, there is a fare differential on that convenience that our passengers are happy to pay for.
What's RYA's last quarter results with respect to yield? And 70% higher than what? you know as well as I that to say 70% higher means nothing in this game with defining all the assumptions. easyJet of course also offer our passengers a flight to major destination airports and not to airfields in the country, there is a fare differential on that convenience that our passengers are happy to pay for.
Here is the comment from broker Smith Barney:
EasyJet
OUTPERFORM at 188p says Smith Barney (7th May 2003).
EasyJet's interim results fell short of expectations by revealing a loss before tax of £48.1m and a 10.7% fall in average fares year on year. On a positive note, the integration of Go is reportedly ahead of plan and revenue and cost synergies are still expected as the route networks and operations continue to combine. Smith Barney attributes the problems this time to "excessive" capacity growth, the immaturity of the Go network and an unhedged fuel position. However these issues appear to cause the broker little concern as it reiterates its confidence in the group's business model and maintains a positive rating.
I don't think anyone as particularly worried. 75% of mergers and acquisitions fail. Of those that survive there must be teething problems. easyJet are probably doing quite well all things considered.
EasyJet
OUTPERFORM at 188p says Smith Barney (7th May 2003).
EasyJet's interim results fell short of expectations by revealing a loss before tax of £48.1m and a 10.7% fall in average fares year on year. On a positive note, the integration of Go is reportedly ahead of plan and revenue and cost synergies are still expected as the route networks and operations continue to combine. Smith Barney attributes the problems this time to "excessive" capacity growth, the immaturity of the Go network and an unhedged fuel position. However these issues appear to cause the broker little concern as it reiterates its confidence in the group's business model and maintains a positive rating.
I don't think anyone as particularly worried. 75% of mergers and acquisitions fail. Of those that survive there must be teething problems. easyJet are probably doing quite well all things considered.
Join Date: Jan 2003
Location: Outbound
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Well said Kinsman,
Council estatees demand 1st class service for next to nothing, blame the cabin crew for poor sevice, the list goes on. Compensation culture comes to mind.
No one seems to talk about management's incompetence. After all
its not the crews that run the company.
The revenue is there, however it is a different story of how it is re-invested. Well paid crew, HA,why the high turnover and constant recruitment ?
Council estatees demand 1st class service for next to nothing, blame the cabin crew for poor sevice, the list goes on. Compensation culture comes to mind.
No one seems to talk about management's incompetence. After all
its not the crews that run the company.
The revenue is there, however it is a different story of how it is re-invested. Well paid crew, HA,why the high turnover and constant recruitment ?
Rebel PPRuNer
Join Date: Aug 2000
Location: Toronto, Canada (formerly EICK)
Age: 51
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WWW
I think the difference is that JB did not start as a 737 based airline and move lock stock and barrel to the 320, more that they struck a deal with Airbus when 320s weren't "flying off the shelves" so to speak. The cost of the move to the bus is what is at issue.
I think the difference is that JB did not start as a 737 based airline and move lock stock and barrel to the 320, more that they struck a deal with Airbus when 320s weren't "flying off the shelves" so to speak. The cost of the move to the bus is what is at issue.
Join Date: Jul 2002
Location: london
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I know how we could reduce the loss by £10 million. RW has a duty to the shareholders and it is high time he shouldered his resposibilities. It is pathetic we are paying fat cat bonuses to a team who have lost this much cash. It transpires that instead of the pax paying us, EJ have been paying them approx £2.odd each to travel with us!!!!!No wonder RW is complaining of falling yields.
easysleazy , I don't know where you got your information on Jetblue. I've used them quite a few times. They are excellent but definitely NOT a Business Class airline. Perhaps an apt description might be, "up-market, low-cost carrier". I'm a great Southwest fan too but I would rate Jetblue as No. 1 in the industry in terms of value for money.
Join Date: May 2001
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Last edited by Goforfun; 10th May 2003 at 05:46.
Grim Sleeper
Join Date: Jun 2001
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Well if anyone managed to plough their way through that lot, I expect you're asking yourselves , what the chuffing flip are we all still doing here then?
Someone invent an anti-gravity motor and put us all out of our misery for pants sake.
Someone invent an anti-gravity motor and put us all out of our misery for pants sake.
Join Date: Jul 2000
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Well I too like many others can reduce the loss by at least 10 millions easyly.
Mr Webster it is great time that you get real, I read recently in one of your newsletters that if the staff don't like it they can work for someone else...Well I am not a manager but I sure know that that is not the right tactic!!
Who is held responsible for all the money you have spent on Carmen, etc? No one because it is a no blame culture!
I am sure that it is only a matter of time before the city will ask you some serious questions then maybe all the proteges in Lalaland will start to move on or fall...
Mr Webster it is great time that you get real, I read recently in one of your newsletters that if the staff don't like it they can work for someone else...Well I am not a manager but I sure know that that is not the right tactic!!
Who is held responsible for all the money you have spent on Carmen, etc? No one because it is a no blame culture!
I am sure that it is only a matter of time before the city will ask you some serious questions then maybe all the proteges in Lalaland will start to move on or fall...
Join Date: Oct 2002
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A fare advertised on the BA website was Heathrow-Paris for £14
Plus the Tax.
Now for those of us south of the Thames, who can get there easily by public transport it makes good economic sense not to go to Ltn or Stn.
The rail link is poor.the motorways are a nightmare and then theres the parking fee.
Ba's entryinto the real world (web) has been a success.If the Easy's and the raynairs are to survive they will have to come up with something better.Like a well advertised new sweet, we all try it once but more than not, go back to what we've always liked.
150 new A320's thay must be mad !
Plus the Tax.
Now for those of us south of the Thames, who can get there easily by public transport it makes good economic sense not to go to Ltn or Stn.
The rail link is poor.the motorways are a nightmare and then theres the parking fee.
Ba's entryinto the real world (web) has been a success.If the Easy's and the raynairs are to survive they will have to come up with something better.Like a well advertised new sweet, we all try it once but more than not, go back to what we've always liked.
150 new A320's thay must be mad !
