Jet2 bucks hiring trend, Globespan tits up, E-Clear link?

[Dreamshiner]

Based on what has happened in the past 3 months I thought I'd throw this into the mix and see what came up ......

I have followed the developments surrounding the demise of flyGlobespan. The revelations about the owed millions from E-Clear, the subsequent presence of the chief executive as the lead representative of Halcyon Investments is also concerning. Especially IF a link is made with the following:

In October a thread was started pointing out that Jet2 were bucking the trend and advertising for pilots (almost every other UK airline is not hiring and looking for voluntary redundancies), it was indeed surprising in the current market, however welcome news.

Please find the link to the threads:

http://www.pprune.org/terms-endearment/391772-jet2-jobs.html
I mulled over the contents of post #200 when I read it and injected a bit of possible conjecture, conspiracy to rival the death of JFK and valid pertinent questions worthy of a pilot rumour and discussion network.

I would draw attention to posts #138 to #145 and the dates.
Finally these, especially #189 and #191.

I will list these with published facts at the currently stand (as far as I am aware these are not up for debate but a matter of factual record):


Jet2 bucks trend and advertises in early October for pilots (B737-300, B757 current types flown by Jet2 fleet, with rumours of B767 for long-haul).
Globespan fleet comprises B737-700/800 and B767.
Jet2 appear to advertise for an "Experienced Training Captain, preferably with long haul, wide body and ETOP's" (Extended-range Twin-engine Operational Performance Standards) despite currently operating currently as a short/medium-haul operator.


Now the bit I hope a Jet2 insider/ex-employee may shed light on:


Does E-Clear provide financial services for Jet2 as well?
What sort of relationships does Philip Meeson have with any member of the Halcyon board? Did he sit on it? Was he consulted?
Has Jet2 MD Philip Meeson ever been involved with or spoken to Elias Elia recently/past 6 months?
It could be insightful at best, despicable business practices at worst if flyGlobespan's downfall was engineered


If Globespan was played either to buy it up cheap as a going concern or manipulated to expand another airline into its only real geographic region it could move into without major competition.

I may be adding 2 and 2 and getting 5 here, however I think its a debate worth having.

Happy New Year

[FlyingOfficerKite]

Crystal ball sees E-clear release funds, FlyGlobeSpan debts paid off (alledgedly £5m) with monies owed (circa £35m). £30m in the black. Good start (simplistic analysis and pretty obvious now it's likely to happen). GSM have drowned in a financial 'inch of water' tragically moments before the delayed warming of a monetary sun of salavation evaporated the water of debt and provided a good harvest. £30m, a tidy sum, for setting up a base, crew training, rebranding, payment of fees, 'management' expenses and the like.

No outststanding debts - remember PriceWaterhouseCoopers are associated with E-clear (of all the administrators, this is the one firm I would NOT have chosen - personal opinion only!!!). I imagine others hold a different view?

As for links - Jet2.com linked to GSM (management/charters), GSM linked to PriceWaterhouseCoopers (administrators), PWC linked to E-clear (mentioned on the web). The question posed is indeed interesting - can the loop by closed with a link between Jet2 and E-clear?

Maybe GSM has indeed reached the 'new level' proposed by TD in the days before the 'collapse'? GSM having died and kinda raised to a Jet2 'heaven'. Raised up not by the injection of funds that were anticipated but by a far more subtle and clever financial play.

As for TD himself - he is reaching retirement age and this scenario would enable him to bow out gracefully without having failed through his own account - in fact quite the reverse with a staged 'takeover' that provides a useful amount of capital without any strings attached. Nice touch would be for Jet2 to retain him as a 'consultant'. A Scot with local knowledge of the travel industry north of the border - good choice.

Cover your tracks by advertising for pilots in October so not to look too suspicious (as it would have done if Jet2 had advertised for pilots now). I have never known pilots being interviewed so far ahead of a start date (October for following April?!) but as an aside gain industry knowledge.

Now Jet2 and FlyGlobeSpan have always been associated - Jet2 flew charters for FlyGlobeSpan in the past, for example. Jet2 aircraft in GSM colours at one point I think?

What pilots have been employed to date (as far as the Jet2 Jobs Thread is concerned) only B733 FOs and B757 pilots (which GSM don't have - B737NG and B767).

It's all interesting and after the Manchester 'coup' I'm inclined to suspect anything.

So with no debts and aircraft standing, B737NG (versus Jet2 ageing B737-300s) and B767, all that is required is the PM 'magic' to bring this pantomine to its climax.

KR

FOK

[woofly31]

How many guys have Jet2 now taken on, or offered a fixed term contract to. Is this current recruitment ongoing to expand beyond the previous plans or have they now got the numbers they require for 2010? The application system is still open. Did they take any CTRS guys on at all this year for the 2010 season?

[757 Speedbrakes]

I think you lot have been on the sauce enjoying far too much xmas spirt.......especially as your post was at 5am on new years day! :\

What next: O'Leary backed the terrorist attacks in 2001 to get a good deal from Boeing and Willie Walsh is really a Trade Unionist who secretly created the possible strike for publicity......? Maybe Boeing sabotaged the 787 to hold off production until the recovery? BAA can't afford a 3rd runway at LHR so most the protestors are in fact BAA employees? :rolleyes:

[CAP509castaway]

I agree with you 757 speed brakes, you chaps need to get back to your flight sims!
Happy New Year to everyone:}:}:}

[Firestorm]

Well Dreamshiner. A very interesting drawing together of unrelated strands of information to make a rather randomly patterned carpet! I suppose it isn't an impossible situation, but one might say that is was unlikely. I think that a legit bid to take over Globe Span might have been more likely than a plot worthy of a Kennedy murder conspiracy! It will be interesting to see how the story unfolds.

I hope you don't have too bad a hang over Dream Shiner!

[tayportflyer]

I smell ..................... em its a bit like that strange bs smell that hangs about fleet street :E
:ok::ok::ok::ok:

[BALLSOUT]

I think we should have an investigation into some of the theories put forward by 757 speedbrakes, all very credible, April 1st would be a good day to start!

[Dreamshiner]

It still makes me smile when we do this job people assume you are in your home time zone when you post.

Plenty of Barrocha and a little Tiger Woods on the Wii sorted me out, thanks for asking.

Look all I'm saying is Jet2 put the feelers out I know I raised an eyebrow. Advertise in Flight International for a widebody ETOPS supremo. Then GSM go bust.

It might have been foresight on the part of Jet2 or inside info. I think advertising for people to fill the gap made by the demise of GSM would be more credible now after they went under.

737 Classic to a NG is a pretty quick and cheap course in aviation terms, plus no issues with learning new handling characteristics + an insurance firms dream to have x thousand hours under your belt. 757-767 dual rating with different hydraulics priorities and another quick conversion course.

[Firestorm]

I thought that Globe Span flew 737 classics not the NGs. That would be more convenient for Jet Two.

[freightdoggy dog]

Now that I have picked myself up from the floor having pmsl, I think your tag Dreamshiner should be Lucy in the Sky of Diamonds, rather than " in the clouds above "....Go and research the history of the Dart Group and PM Dreamshiner. Its out there if you look hard enough. Then you will find out how PM built the company up from an overheard conversation in a pub in the Fulham Rd in the early 80's, and how he started by importing 2CV's from Belgium...then buying into a BMW dealership just before the 3 series and yuppies came banging on the door....to flying flowers in from Jersey in DC3's...to Super Dart Heralds..to L188 Electras...to A300's for TNT, UPS, DHL,British Airways....Expanding Fowler Welch into one of the biggest ambient and chilled Logistics companies in the UK.....PM has always always kept tight control on the cash flow.....Globespan and Nowegian were set up by their boards by initially wet leasing in Jet2.com...they then both went on their merry ways...thats the only link..oh and that DS once worked in the Commercial Dept at Channex before ending up at Globespan via Jordan...the country not Katie Price !!!..though knowing Damo he'd give it a crack. It is well known that Jet2Holidays is the next push in the aviation side of the company and we all know that the money in holidays is away from the Eurozone ( see Monarchs latest rejig ) ...to do that they will need either B767's or A330's..as ever the contracts will come first, then the equipment and then the pilots...so advertising for pilots 6 months ahead of needing them is not unusual..in fact unlike Irish Mick...I would say that Jet2 find themeselves in a unique position......the perfect storm perhaps. Oh and I was in Cyprus in November...Eilas sends his regards...now I am really really taking the Michael ;)

[757 Speedbrakes]

For info, Jet2 do NOT use E-Clear for processing online credit / debit card details........... :ok:

I have no idea as to the whys and reasons of GSM going bust and I don't really find it very fair to discuss them as it can't be very nice for those who have lost their jobs to read about it from others on PPRuNe.

However, I find it hard to belive that the sole reason was due to £30 odd Million being owed to them from an E Clearing company. Banks have a thing called 'Sales Financing' which basically pays out the money the company is owed, based on its invoices etc and then takes the money directly from E Clear or invoices the company with the banks added fee of course. Like a kind of bridging loan............

I suspect the real reason for going bust is for more traditional reasons....

[Kirks gusset]

It is not unusual for credit card companies to retain 30 or 45 days receipts as security money as part of the merchant agreement. If there is an option to "factor" this credit that costs the company money, but does improve cash flow in the shsort term but cuts margins as the Factor fees are quite high. The problem can be that companies become victims of thier own success and margins are eroded to keep the increase in sales going and provide the service, in this case the routes. This is an unpleasant subject for the ex GSM guys and once again demonstrates how totally unsupportive and useless this government are in our industry. Taxing fuel and pax to the hilt is no way to encourage growth, and the " green" lobby can all bloody walk as far as I'm concerned. Just as Qatar threw a life line to the Zoomers, they seem to be doing the same to the GSM guys, so good luck all.

[racedo]

I find it surprising that any company would continue to use a company to process its credit/debit card transactions when it was owed millions and not transfer to someone else in the short term at least to raise working capital............not sure whether correct or not but is EClear seen as a last resort supplier when no one else wants to deal with you ?

I said early on when Halycon were alledged to be putting in money that there was a real difference between a PR release and the cash appearing.

[Dreamshiner]

Thanks for confirming that E-Clear do not have anything officially to do with Jet2. As for discussing GSM, I don't agree (funny enough) that the demise of an airline should be ignored or kept soley for those directly affected.

I concur I stuggle to understand why they didn't move to another credit card processor when E-Clear appeared to affect them so much.

More twists to the tail:

BBC News - FlyGlobespan cash recovery move (http://news.bbc.co.uk/1/hi/scotland/8440131.stm)

[FlyingOfficerKite]

The BBC understands the move to put E-Clear into administration is intended to force the firm to disclose whether it has £35m withheld from FlyGlobespan.

There should be no question about it - and it should not be a question that needs to be asked.

'Quasi-banks' such as E-clear, PayPal and the like have taken advantage of the revolution in eCommerce and left the regulators and regulation behind.

They are now so powerful that they are almost above the Law in that to close them down would have devastating affects on so many businesses that have become dependant upon them.

I, along with many others, have had to ensure the pantomine that is eBay/PayPal. Heaven help 'big business' with all the scammers and fraudsters that make the internet a thieves paradise for the unscrupulous and a nightmare for the unwary.

KR

FOK

[Shedster10]

They have now been put into administration due to their inability to provide proof they have GSM's £££

Good, hang him from the rafters and give his house(s) to the homeless !

[Boeingmann]

Dreamshiner:

Guess you have your answers now. E-Clear was run by a crook who stole money and jobs from Globespan and other unfortunate businesses that had dealings with it. No conspiracy just good old fashion fraud from a crook who should be locked up forever.:=

[DjerbaDevil]

From Sunday's newspapers:
Elias Elia, the man behind failed credit card processing firm E-Clear, is set to have his personal assets frozen as administrators BDO try to account for the hole in its finances said to be worth up to £100m. BDO will convene a meeting this week of creditors and shareholders in E-Clear, including representatives of Globespan, Sunwing, the Serious Fraud Office and the Civil Aviation Authority (Independent). The administrators want to check whether E-Clear helped fund Elia’s other activities, including a network of Cypriot property companies. Elia set up property and construction groups under the ‘Elian’ umbrella, several of which had the same office address in London’s Mayfair as E-Clear (Times).

[Dreamshiner]

Guess you have your answers now. E-Clear was run by a crook who stole money and jobs from Globespan and other unfortunate businesses that had dealings with it. No conspiracy just good old fashion fraud from a crook who should be locked up forever.


To be honest Boeingman, never really thought he was anything other than a filthy scoundrel of the highest order. What this thread tried to establish if there was a link to him and Jet2 seemingly bucking the trend back in October when they advertised for pilots and an ETOPS supremo. It could be that the Jet2 CEO saw the writing on the wall, employed a degree of acumen or had information shared with him. I doubt we'll ever really find out the whole story. For a quiet life and peace and harmony I would like to think that PM employed good old business acumen and nothing to rival the Artful Dodger.

[Boeingmann]

There is no doubt that PM has excellent business acumen and very good contacts in the City who keep him informed of the good and evil. I would expect nothing less.:ok: