ryanair
 

fr to reduce pilot workforce by 35% ?

Source/Link??

Bit of dodgy maths , there? -Even allowing for the journo's overindulgence in the "black Velvet" and their legendary "poetic license"......allowing for stoppages, etc....I'd find it hard to see 1K nett loss from 1/52 x 60K

1 week off for 400 employees ( including cabin staff ) doesn't strike me as a 35% reduction in flight crew in an airline employing around 2000 pilots, or am I missing something here ? :hmm:

Clear case of breach of contract. But then Ryanair's record in the courts is nothing to write home about.
Just ignore it and turn up for work.

Was this topic not already flogged to death on another thread???

No point in turning up for work if your paid by the block hour.

"clear breach of contract"

Have you read said contract....pilots new contract from Oct07 covers this eventuality, and they accepted it.

A while ago now, but this was also in the contract offered to the "buzz" pilots when they were taken over, one reason many opted for redundancy. That said, the option would probably be dismissals (less than two year's service = no redundancy pay) and I'm sure most employees would sooner sacrifice 1500 euros and still have a job to go back to. Knock Ryanair all you like but they're still employing people.

this is such a non thread, ryan air just taking sensible business decision in complicated trading environment.
'
A clever decision that will see little pain for employees while ensuring when the time comes for an upturn, those loyal and committee staff will benefit from their growing dominance in the sector. Simple. There are no fat cats at ryan air, lining their pockets unlike some national institutions i know.

Can MO'L be described as a 'fat cat', from the point of view of the personal wealth he has derived from his time as CEO of Ryanair? Discuss.

FOK :yuk:

Why doesn't MOL dip in to Ryanair's 'War Chest'? I've heard mention a while ago that it was 2 billion euros by some journo report along the way. If true, then shouldn't this resource be used in the difficult times to offset costs, after all it was gained during the good times.

A 2 billion euro reserve might be a 'War Chest' in times of feast, but in times of famine it will be no more than a holster - without a loaded gun!

FOK :=

Let's hope the 2 billions are not in an Icelandic bank account.;)

An immensely rich man who sits on his butt atop a pile of lucre and berates low paid workers for their greed - that is a 'fat cat'.
Indeed, the term I'd use is far less mild.

With his share price at 1.90, and an IMF forecast of a further 20% drop in the stock market next week (down to 1.52) at what point does FR start to look highly attractive to a hostile takeover? How much would it cost a corporate raider to buy him out at 1.52 a share? With 51% the new owner has access to that pot of gold - 2 billion euro - or is it more? I hear 6 billion mentioned elsewhere!
I would imagine FR is starting to look very juicy to anyone with that kind of capital. Buy it up and assett strip it, you'd probably walk away with a few billion in cash. How hilarious would that be!

Micko - you better start spending money buying back your own shares soon sonny (he's obviously waiting until the price has really tanked before making the move).

Indeed.

But, as in all these cases it's the innocents you feel sorry for - all the flight and cabin crew who wanted to make a fast buck and sold their souls in the process.

Mr Mickphistopheles methinks!

FOK :yuk:

Possible if anyone could borrow the money to do the deal. FR hold all the cards with their cash holding.

There are still people out there with cash. Lots of it.

What is the Capitalised Value of 51% of Ryanair at 1.50 per share?
Anyone?

Less than 6 billion? You betcha! WAY less......

workers with no rights no unions
 

This will not last forever and the day will come where the bigman goes too far & people stand together & revolt. Ryanair will definetly be the first. Unions are a thing of the past but will also be a thing of the future.

Why do we have employee rights if they are not enforced?

Recent events have proved that a completely free market is not self sustainable due too greed and exploitaiton.

On the positive side there probably won't be many airlines left in a few years and then it will be easier to get unions recognised and the airlines won't care cos they will charge what they like again. Everyone wins except the consumer.

But what do I care I'm a pilot.

Bring back the old days.