REX to transition to ATRs, start domestic jet ops
So the same guy who said in front of the media………
‘we are going to rip away all those entitlements that these Pilots have built up over the years, 10% below Jetstar!’
….is now whinging to the media this morning he wants the government to act to stop all his pilots going?
Reap what you sow. Find me someone that cares if they closed down tomorrow if every last person left?
‘we are going to rip away all those entitlements that these Pilots have built up over the years, 10% below Jetstar!’
….is now whinging to the media this morning he wants the government to act to stop all his pilots going?
Reap what you sow. Find me someone that cares if they closed down tomorrow if every last person left?
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REX's deputy chairman has warned the airline will have to cut more services and flight frequencies across its regional network unless the government acts quickly to stop "Qantas's predatory behaviour" and help stem a loss of pilots.
This was the first line in a lot pf paywalled news articles this morning. I can't see the rest of the article, does anyone know what specific measures he wants the government to enact to stop his pilots freely choosing to work for an alternative employer? Re-introduction of slavery perhaps?
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You’ve got to laugh, this is LKHs opening statement in Rex’s latest financial report.
Rex’s financial misfortune was largely the result of Qantas’ illegal anti-competitive behavior in the prior years when the latter dumped excess capacity on Rex’s regional routes in the hope of damaging us so much that our nascent domestic operations would not be able to succeed and grow. As could have been predicted, this has resulted in Rex’s regional business (excluding regulated routes) suffering a loss before tax of $26m in the period under review compared to profits of $5m prior to COVID.So while Qantas announced with great fanfare a record profit of Underlying Profit Before Tax of $2.47 billion, Rex reported one of its worst ever performances with a Group operating loss of over $30m. It is most disheartening to see the wicked prosper.
REX are at it again, claiming their pilots are being "stolen".
Pillage
verb
gerund or present participle: pillaging
Pillage
verb
gerund or present participle: pillaging
- rob a (place) using violence, especially in wartime.
"the abbey was plundered and pillaged"- steal (something) using violence, especially in wartime.
"artworks pillaged from churches and museums"
- steal (something) using violence, especially in wartime.
Rex Airlines has accused competitors such as Qantas of “pillaging” its regional pilots, forcing more cuts to services between the country and the city.
The carrier issued a statement on Friday afternoon saying it would reduce the number of services between Sydney and NSW towns Albury, Coffs Harbour, Griffith, Narrandera, Orange, Parkes and Port Macquarie from October 30.
It is also temporarily suspending flights between Sydney and Armidale and withdrawing its far north Queensland route between Cairns and Bamaga.
“The airline is forced to make further reductions to its regional network as the major carriers, particularly the Qantas Group, continued their relentless pillaging of Rex’s pilot group,” a company statement said.
Qantas has been contacted for comment.
In April, Rex reduced or changed flight times for nine services across four states, including routes between Sydney and Broken Hill, Melbourne and Wagga Wagga, and Adelaide and Port Lincoln.
If the workforce situation improves, the reduced services will return to normal operation by the end of March next year.
Rex’s April announcement made no mention of its competitors, instead saying there was a chronic shortage of staff and supply chain disruptions.
The affected routes require SAAB 340 twin-engine pilots, who were in heated pay negotiations with the airline in June last year.Pilots took protected industrial action, including a ban on topping up planes with extra fuel, after extended wage negotiations.At the time Rex was offering a 5.1 per cent increase, plus catch-up payments, which the Australian Federation of Air Pilots said amounted to a pay cut as it did not cover inflation.
Rex’s deputy chairman John Sharp said the negotiations exposed the “hypocrisy” of the union because it agreed to a 2 per cent pay rise for QantasLink pilots in 2021 and 2022.
Most Rex twin-engine pilots agreed to new pay deal in November.
– AAP
The carrier issued a statement on Friday afternoon saying it would reduce the number of services between Sydney and NSW towns Albury, Coffs Harbour, Griffith, Narrandera, Orange, Parkes and Port Macquarie from October 30.
It is also temporarily suspending flights between Sydney and Armidale and withdrawing its far north Queensland route between Cairns and Bamaga.
“The airline is forced to make further reductions to its regional network as the major carriers, particularly the Qantas Group, continued their relentless pillaging of Rex’s pilot group,” a company statement said.
Qantas has been contacted for comment.
In April, Rex reduced or changed flight times for nine services across four states, including routes between Sydney and Broken Hill, Melbourne and Wagga Wagga, and Adelaide and Port Lincoln.
If the workforce situation improves, the reduced services will return to normal operation by the end of March next year.
Rex’s April announcement made no mention of its competitors, instead saying there was a chronic shortage of staff and supply chain disruptions.
The affected routes require SAAB 340 twin-engine pilots, who were in heated pay negotiations with the airline in June last year.Pilots took protected industrial action, including a ban on topping up planes with extra fuel, after extended wage negotiations.At the time Rex was offering a 5.1 per cent increase, plus catch-up payments, which the Australian Federation of Air Pilots said amounted to a pay cut as it did not cover inflation.
Rex’s deputy chairman John Sharp said the negotiations exposed the “hypocrisy” of the union because it agreed to a 2 per cent pay rise for QantasLink pilots in 2021 and 2022.
Most Rex twin-engine pilots agreed to new pay deal in November.
– AAP
Ok, let me see if I have this straight.
REX, among other things, are citing the failing of the Regional services for the continuing woes of the group, in particular the negative effect that this overall underperformance is having on the domestic jet operation. An operation whose business plan was dependent on the collapse of VA? I do recall that was part of the pitch to the ASIC.
Do I have this right?
REX, among other things, are citing the failing of the Regional services for the continuing woes of the group, in particular the negative effect that this overall underperformance is having on the domestic jet operation. An operation whose business plan was dependent on the collapse of VA? I do recall that was part of the pitch to the ASIC.
Do I have this right?
Last edited by KRUSTY 34; 6th Oct 2023 at 09:01.
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SYD-HBA will be interesting. Obviously it allows them to leverage whatever ground handling arrangements they have established in HBA. That said, it's historically not even a Top 20 route.
As the Zen Master was fond of saying, "We'll see."
Well those convertible notes are about to become very costly for Rex, I recall the use by date was April next year, with potential extensions.
I don’t think we will be getting those monthly unaudited profit numbers this year which start rolling in about now.
I don’t think we will be getting those monthly unaudited profit numbers this year which start rolling in about now.
Won't cost Rex anything, the shareholders though... PAG will just take over ownership of what's left of Rex. That's if current management don't completely destroy it first.
I assume another cash injection will be needed to come from somewhere?
Don’t Rex need to fund the loss associated with any notes that are traded below $1.50? Mick might be across the financial logistics better than most.
Don’t Rex need to fund the loss associated with any notes that are traded below $1.50? Mick might be across the financial logistics better than most.