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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 14th Jul 2021, 04:25
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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
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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
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Originally Posted by Ladloy
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
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Originally Posted by transition_alt
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
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Originally Posted by Bull_Shark
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
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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
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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
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Originally Posted by 1A_Please
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
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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
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The fat lady is warming up her vocal cords
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Old 21st Jul 2021, 23:29
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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
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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
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Originally Posted by SHVC
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
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Originally Posted by Paragraph377
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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Old 22nd Jul 2021, 01:39
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It's a great shame. REX is a great airline with some of the best in the business working for them. As I understand it the 737 is a separate company to the SAAB operation so even if the wrap up the 737 gig the rest will remain, lets hope so. In spite of all the hate out there, lots of great people work there & I for one wish em well!
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Old 22nd Jul 2021, 01:41
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There was also the premise that all the domestic carriers made about Covid being done and dusted by March 2021. That hasn't worked out for any of them.
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Old 22nd Jul 2021, 02:08
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Originally Posted by Busbitch
It's a great shame. REX is a great airline with some of the best in the business working for them. As I understand it the 737 is a separate company to the SAAB operation so even if the wrap up the 737 gig the rest will remain, lets hope so. In spite of all the hate out there, lots of great people work there & I for one wish em well!
Beware the sleeping Tiger. If it does turn to ****, then as we know in aviation, anything is possible and expect the unexpected.
VA still have that AOC on ice. It depends on Rex owners, share holders, PAG if they want to sell the 737 operation to Bain.
Buy the operation save the crews, save the jobs and knocks out the opposition. Long shot yes, though something must give.
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Old 22nd Jul 2021, 02:28
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Tiger has never made any money and itís not about to start making money now either. Jetstar will hold its ground regardless.

Just be done with Tiger. Jetstar has this market covered and is a formidable competitor to anyone in that space.

Virgin needs to just worry about two things and thatís Virgin and Virgin only, and Virgin making positive earnings. No distractions.
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Old 22nd Jul 2021, 04:56
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Originally Posted by Turnleft080
Beware the sleeping Tiger. If it does turn to ****, then as we know in aviation, anything is possible and expect the unexpected.
VA still have that AOC on ice. It depends on Rex owners, share holders, PAG if they want to sell the 737 operation to Bain.
Buy the operation save the crews, save the jobs and knocks out the opposition. Long shot yes, though something must give.
Bain is very disciplined about how they manage their VA investment. They have resisted being rushed into making decisions about lounges, catering etc. They are not likely to deviate now and be distracted into saving ZL's jet operation. It suits them for ZL to leave the market which will allow fares to stabilise (upwards) once the domestic borders reopen.
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Old 22nd Jul 2021, 05:28
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Originally Posted by 1A_Please
Bain is very disciplined about how they manage their VA investment. They have resisted being rushed into making decisions about lounges, catering etc. They are not likely to deviate now and be distracted into saving ZL's jet operation. It suits them for ZL to leave the market which will allow fares to stabilise (upwards) once the domestic borders reopen.
Spot on, for all of Sharpie's carry on about Qantas, unsurprisingly he failed to grasp that he really wasn't competing with QF. If Rex were going to take market share, it was more likely going to come from VA. And VA seemed to be making all the right responses to anything that Rex threw up. Meanwhile, having raised AJ's ire, QF started squeezing Rex on its bread-and-butter regional routes.

There's no shortage of literature on the downsides of trying to fight wars on two fronts.

It was a bit like watching the Wagga Raiders Juniors going up against the Storm and the Roosters.
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