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REX to transition to ATRs, start domestic jet ops

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REX to transition to ATRs, start domestic jet ops

Old 13th Jul 2021, 23:30
  #1361 (permalink)  
 
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But, does QF?
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Old 14th Jul 2021, 01:07
  #1362 (permalink)  
 
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Originally Posted by SHVC View Post
But, does QF?
Interesting point.

Hopefully QFís liquidity extends beyond $150M.
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Old 14th Jul 2021, 01:14
  #1363 (permalink)  
 
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Originally Posted by MickG0105 View Post
189 days ago. "Thereís never been a better time to expand into the domestic market."
I donít see why taxpayers should bail out the Jet operation.
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Old 14th Jul 2021, 01:14
  #1364 (permalink)  
 
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Originally Posted by Bull_Shark View Post
Itís like a gym franchise had decided to branch out and open a dozen more venues in Sydney with the latest and greatest equipment 18 months ago saying ďitís never been a better time to expand in the fitness industryĒ... and then now come out crying rivers about how much their business is hurting from COVID and lockdowns....

How is that any different to a successful regional airline who has made consistent profits using proven methods and equipment throwing the dice on a massive gamble and losing but now howling unfair because theyíre not getting government assistance?

I feel for the poor Saab crews who have been thrown under the bus for the sake of ego driven fantasies.

If Rex had sailed the ship steady and kept to their core business I have no doubt theyíd be in a much better position than now and probably more profitable still than most other airlines in Australia.

But with all this fancy new and expensive to maintain gym equipment theyíre bleeding like no tomorrow and canít see a way out?
Yep- Alliance has "Looked after the knitting" and gone from strength to strength.
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Old 14th Jul 2021, 01:30
  #1365 (permalink)  
 
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Given the NSW regional network is the vast majority of Rex's Australia wide operation, I fail to see how 80% is the jet operation like a few of you are suggesting. No, Rex cannot draw down on the PAG cash for the turboprop operation. Besides, the jets don't need support. There's still over $100 million readily available to Rex for 737 purposes ONLY.

This lockdown is affecting the Saab pilots the most. The 737 is still operating, and so are the crew, albeit the Gold Coast / Melbourne route ex Sydney is reduced. In fact, the Saab NSW network consists over 1/3 of the total Rex pilot base (currently. Should be more) and close to 70% of total flights in pre-COVID times.

What is often forgotten about, both internally and by everyone in this thread, is the turboprop pilots. Those guys/girls are the ones supporting the business and have done so throughout COVID. Now they're also fighting to get money owed to them by Rex from 2018 and onwards while worried about whether they'll be stood down without pay again. Rex 737 pilots have been on full pay from the beginning, even for months whilst JobKeeper was being paid to the Saab pilots.
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Old 14th Jul 2021, 02:47
  #1366 (permalink)  
 
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Donít worry, Rex is not the only company bleeding. QF, JQ and VA are up sh!t creek without a paddle. Always seems one major city is closed at any given time. ML then it opens SY closes.
Yes absolutely agree that all airlines are suffering. But when Rex use tax payers money that was there to retain staff and essential routes on bold expansion plans to take on other airlines that are hurting as much if not more, thereís no sympathy especially when they continue to moan about needing more handouts and how hard they have it.

Given the NSW regional network is the vast majority of Rex's Australia wide operation, I fail to see how 80% is the jet operation like a few of you are suggesting.
NSW is a large part of the Rex network but donít forget they fly in every state and territory except the NT. How are the regional operations going in QLD, VIC, SA, WA and TAS? Iím sure that while not great, with some of those routes being subsided and intrastate travel usually unrestricted there must be some market?

Donít forget that Rex also run Air Ambulance contracts and significant mining charter with Pelair.

All once again showing the utter hypocrisy and nonsense when Rex jump and down crying poor because their Jet operation isnít succeeding like they thought it would.

Absolutely right about the Saab crews though, theyíve been the backbone and reason for the success of the airline yet are now being left to hang. Great to see the company looking out for their most loyal staff 🙄
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Old 14th Jul 2021, 04:25
  #1367 (permalink)  
 
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Current Saab EBA offering is a 5k one off payment and a pay freeze until the last year of the agreement where it increases by CPI.

EXECUTIVES TOOK THEIR BONUS LAST YEAR, MAKING MORE THAN THE 18/19 FY!
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Old 14th Jul 2021, 04:34
  #1368 (permalink)  
 
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Current Saab EBA offering is a 5k one off payment and a pay freeze until the last year of the agreement where it increases by CPI.

EXECUTIVES TOOK THEIR BONUS LAST YEAR, MAKING MORE THAN THE 18/19 FY!
Under the ASX share price information check out the hundreds of thousands of shares that have been dished out to senior management and the chief pilot a couple of weeks ago...
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Old 14th Jul 2021, 05:22
  #1369 (permalink)  
 
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Originally Posted by Ladloy View Post
Current Saab EBA offering is a 5k one off payment and a pay freeze until the last year of the agreement where it increases by CPI.

EXECUTIVES TOOK THEIR BONUS LAST YEAR, MAKING MORE THAN THE 18/19 FY!
Highway robbery!

A couple of guys at Rex were saying the pilots are owed an average of $10,000 each in back pay and $12k in pay rises
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Old 14th Jul 2021, 05:36
  #1370 (permalink)  
 
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Originally Posted by transition_alt View Post
Highway robbery!

A couple of guys at Rex were saying the pilots are owed an average of $10,000 each in back pay and $12k in pay rises
It's only a rort if you're not in on it.
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Old 14th Jul 2021, 06:21
  #1371 (permalink)  
 
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Originally Posted by Bull_Shark View Post
Under the ASX share price information check out the hundreds of thousands of shares that have been dished out to senior management and the chief pilot a couple of weeks ago...
It's a few more than a hundred thousand shares. It's a bit confusing as to exactly how many shares might be up for offer - the notification variously say 10.2 million and no more than 10 million shares. Of note, Sharpie stands to pocket over 1.3 million shares (an allocation twice that of the next most generous allocation) as determined by 'both objective and subjective criteria'. 'subjective criteria' being a phrase you generally do not want to see in anything relating to executive remuneration.
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Old 14th Jul 2021, 09:18
  #1372 (permalink)  
 
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Stories and quotes of 80% loss of income but no ASX announcement, another speeding fine/please explain?
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Old 21st Jul 2021, 10:21
  #1373 (permalink)  
 
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Rex is suspending all 737 operations and most Saab operations except WA due to NSW, Victorian and SA lockdowns.
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Old 21st Jul 2021, 10:54
  #1374 (permalink)  
 
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Originally Posted by 1A_Please View Post
Rex is suspending all 737 operations and most Saab operations except WA due to NSW, Victorian and SA lockdowns.
It doesn't look like they've had any 737 ops since the 18th when -REX flew OOL-MEL. -RQP and -RYU haven't flown since the 17th, -RQC last flew on the 16th, -RQG's last flight was on the 13th and -PAG hasn't flown since the 11th.

But you know what they say? There's never been a better time to expand into the domestic market!
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Old 21st Jul 2021, 11:10
  #1375 (permalink)  
 
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Rex suspends all Boeing 737 flights due to border closures, lockdowns

Rex has suspended all Boeing 737 flights with immediate effect, while also reducing the frequency of its regional flights, as city lockdowns and state border closures continue to hammer air travel.
https://www.executivetraveller.com/n...ional-services
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Old 21st Jul 2021, 11:23
  #1376 (permalink)  
 
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The fat lady is warming up her vocal cords
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Old 21st Jul 2021, 23:29
  #1377 (permalink)  
 
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Well, if nothing else this gives John Sharp another reason to blame for Rex's FY failure. It was reported a while back that Rex had downgraded FY21 forecasts from slim profit to breakeven to a US$11.6m loss, that loss will almost certainly increase. The bad news is that this also gives Sharp and co an acceptable scapegoat rather than being held directly responsible for the short-sighted move into B737s.
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Old 21st Jul 2021, 23:52
  #1378 (permalink)  
 
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But he said there has been no better time to enter the Jet age! Surely he would of allowed for the odd border closures due covid.
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Old 22nd Jul 2021, 01:18
  #1379 (permalink)  
 
Join Date: Oct 2013
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Originally Posted by SHVC View Post
But he said there has been no better time to enter the Jet age! Surely he would of allowed for the odd border closures due covid.
The 737 operation was doomed the moment the announcement was made. Sharp can blame COVID, predatory actions by Qantas, airport fees and charges and even the weather as much as he wants to. The fact is this; it was a bad plan. A plan doomed to fail, and it is failing spectacularly. Narcissists like Sharp will always blame everybody else for their failures. Itís the nature of who they are. But a smart shareholder should be able to see through the smoke and mirrors and hold the Board Chair and CEO to account for this colossal blunder. The 737ís final flight is a matter of when, not if.


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Old 22nd Jul 2021, 01:28
  #1380 (permalink)  
 
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Originally Posted by Paragraph377 View Post
The 737 operation was doomed the moment the announcement was made. Sharp can blame COVID, predatory actions by Qantas, airport fees and charges and even the weather as much as he wants to. The fact is this; it was a bad plan. A plan doomed to fail, and it is failing spectacularly. Narcissists like Sharp will always blame everybody else for their failures. It’s the nature of who they are. But a smart shareholder should be able to see through the smoke and mirrors and hold the Board Chair and CEO to account for this colossal blunder. The 737’s final flight is a matter of when, not if.
Sadly true. The business case was built around there being no VA so ZL able to move into that vacated market space like DJ did when AN collapsed 20 years ago. As soon as it became obvious that VA would survive, ZL's board should've realised their folly and folded. That they didn't is a massive failure of corporate governance.
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