REX to transition to ATRs, start domestic jet ops
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!
EXECUTIVES TOOK THEIR BONUS LAST YEAR, MAKING MORE THAN THE 18/19 FY!
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!
EXECUTIVES TOOK THEIR BONUS LAST YEAR, MAKING MORE THAN THE 18/19 FY!
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 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.
But you know what they say? There's never been a better time to expand into the domestic market!
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Rex suspends all Boeing 737 flights due to border closures, lockdowns
https://www.executivetraveller.com/n...ional-services
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.
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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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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.
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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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!
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.
Tiger has never made any money and it’s 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 that’s Virgin and Virgin only, and Virgin making positive earnings. No distractions.
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 that’s Virgin and Virgin only, and Virgin making positive earnings. No distractions.
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.
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.
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.