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rex Celebrating 20 Years

Old 25th Oct 2022, 02:23
  #341 (permalink)  
 
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Originally Posted by 43Inches
I think two things are at play here, one is cheap lease 737 availability and crewing. That's holding back any major ramp up in scheduling. The air travel world recovered from Covid way faster than anyone could predict and the carnage many said would happen in airlines going broke just didn't happen and therefore there's the opposite of a glut in airliners available. VA is just lucky they were able to get most of their fleet back before Rex snaffled them up, otherwise they would have been up the creek with no boats to paddle.
The big bottle neck is heavy maintenance. Most available airframes have been in storage for 2+ years and are out of "C" check, so there's a backlog world wide.
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Old 25th Oct 2022, 05:21
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Nice to see some good musings on here. Mick G and 43 making solid sensible factual points.
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Old 25th Oct 2022, 06:33
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Rex secures interline partnership with Delta Air Lines (businessnewsaustralia.com)
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Old 4th Nov 2022, 09:12
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I see REX and Heston have had a parting of the ways, wonder what happened there??
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Old 7th Nov 2022, 04:27
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https://australianaviation.com.au/20...r-negotiation/
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Old 7th Nov 2022, 09:11
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Rex deputy chairman John Sharp said in a statement “Rex, on the other hand, has offered its SAAB pilots a 5.1 per cent pay rise from 1 July 2022, plus significant catch-up payments worth another 8 per cent once the business is profitable again.”

Is that a 5.1% rise from 2018 rates followed by a catch up payments when they deem themselves profitable which will be so far into the future that most current pilots will have left the company?
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Old 7th Nov 2022, 09:18
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Originally Posted by dr dre
Rex deputy chairman John Sharp said in a statement “Rex, on the other hand, has offered its SAAB pilots a 5.1 per cent pay rise from 1 July 2022, plus significant catch-up payments worth another 8 per cent once the business is profitable again.”

Is that a 5.1% rise from 2018 rates followed by a catch up payments when they deem themselves profitable which will be so far into the future that most current pilots will have left the company?
if the pilot leaves it is paid out.
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Old 7th Nov 2022, 09:25
  #348 (permalink)  
 
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That's not the deal, a Rex pilot showed me what they have agreed and that's apparently what the company offered pre-PIA.
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Old 7th Nov 2022, 11:11
  #349 (permalink)  
 
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Looks like a bit of a ****show of a day for Rex jet today. -RQG in for a "C" check and -RQP off the line for some reason. Cancellations all over the shop including the sole SYD-OOL and return flights of the day.
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Old 7th Nov 2022, 21:52
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Originally Posted by 43Inches
That's not the deal, a Rex pilot showed me what they have agreed and that's apparently what the company offered pre-PIA.
Well that's disappointing.
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Old 7th Nov 2022, 21:59
  #351 (permalink)  
 
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I meant the 5.1% + 8% is the pre PIA figure that the company had offered. What the pilots have voted in is much better, which is a compromise with extra days off and future CPI increases. Probably worth over 10% up front and then CPI adjustments for a number of years. Also some backpay in installments.
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Old 7th Nov 2022, 22:21
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Originally Posted by 43Inches
I meant the 5.1% + 8% is the pre PIA figure that the company had offered. What the pilots have voted in is much better, which is a compromise with extra days off and future CPI increases. Probably worth over 10% up front and then CPI adjustments for a number of years. Also some backpay in installments.
Okay then sorry.
10% is still below CPI since 2018. They could have done a lot better. The company is very limited on crew currently. So much so I heard that whole bases could be wiped out in within weeks if Jetstar and Qantas take them.
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Old 7th Nov 2022, 23:33
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Originally Posted by Ladloy
Okay then sorry.
10% is still below CPI since 2018. They could have done a lot better. The company is very limited on crew currently. So much so I heard that whole bases could be wiped out in within weeks if Jetstar and Qantas take them.
I guess that makes sense why they are running a lot of routes via triangles at the moment. Seen Armidale go via Port, Dubbo via Parkes etc.
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Old 8th Nov 2022, 00:45
  #354 (permalink)  
 
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Originally Posted by MickG0105
Looks like a bit of a ****show of a day for Rex jet today. -RQG in for a "C" check and -RQP off the line for some reason. Cancellations all over the shop including the sole SYD-OOL and return flights of the day.
****show yesterday, worse today. Now looks like -PAG has joined -RQP and is also not flying. No SYD-OOL-SYD service yesterday, no MEL-CBR-MEL service today.
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Old 8th Nov 2022, 01:03
  #355 (permalink)  
 
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Originally Posted by dr dre
Rex deputy chairman John Sharp said in a statement “Rex, on the other hand, has offered its SAAB pilots a 5.1 per cent pay rise from 1 July 2022, plus significant catch-up payments worth another 8 per cent once the business is profitable again.”
I'm guessing nobody asked Sharpie about his 117 percent annual total remuneration rise between FY21 and FY22. His total remuneration is now up by nearly 190 percent from pre-pandemic levels.

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Old 25th Nov 2022, 01:20
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Rex have updated their profit guidance, only days after Qantas. Jets on track for profit while Saab operation is still loss making. They must have a good accountant!

If the Saabs aren't making money right now they will never make money again.
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Old 25th Nov 2022, 02:05
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but its EBITDAR was a positive $1m for the month, having been EBITDAR positive since September
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Old 25th Nov 2022, 02:18
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EBITDAR really means profit before we have paid all of our outstanding bills. Meaningless creativity.
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Old 25th Nov 2022, 04:37
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Originally Posted by Icarus2001



EBITDAR really means profit before we have paid all of our outstanding bills. Meaningless creativity.
EBITDAR stands for earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR). It's useful for businesses such as hotels, restaurants or casinos that have unique or variable rent costs
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible

Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...

Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year

Good to see the jets making coin, as I predicted many time for November this year
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Old 25th Nov 2022, 04:43
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Originally Posted by Deano969
EBITDAR stands for earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR). It's useful for businesses such as hotels, restaurants or casinos that have unique or variable rent costs
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible

Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...

Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year

Good to see the jets making coin, as I predicted many time for November this year
or jet costs being handballed to the regionals.
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