“Hope for the best but plan for the worst “. An axiom most professional pilots hang their hats upon .
Wise words when one considers how precarious the present global economic system is , particularly considering the stressors Covid is presently placing upon many economies worldwide .
Unfortunately I think a rapid worldwide recovery is possible but probably overly optimistic.
Hate to be the party pooper here , but I think many contributors here really need to consider the possibility of a long drawn out recovery.
If the title of next years IMF Davos meetings title of “ The Great Reset “ is anything to go by , then things are probably going to get a lot worse before they improve .

Really, where did he pull this one from?:

Where did that come from? And interesting use of “your” there.

188/196. 96% achieved. On the 2nd of August you posted there “hasn’t been much interest in the VR package”. You call 96% “not much interest”?

So what do you call that? Under subscribed? :ugh:

I would call that under subscribed, I would be more confident if the number interested were 4 digits

Quite a language change from you normie from your “not much interest” quote of August 2nd.

If you’d been around in 2014 you would have seen they got a much lower percentage of people taking VR than what the targeted figure was, but decided that along with LWOP was enough to manage the surplus. 96% achieved is much better (and I suspect that if individual circumstances change within 3 months and pilots decide to take VR their late request may be accommodated).

That shows the majority of pilots are pretty rational, and can see in the long term that there is a future ahead. It’s just the intervening couple of years that have to be negotiated first. Roughly 1 out of 8 pilots took VR, I’d suspect most would have planned to leave within 5 years anyway.

Nope. Lots of applications last minute. But still, under subscribed. Next?

Dr Dre. yeah the ones retiring anyway makes it even more under subscribed. I lived black wednesday and the recession that followed it, I never want to experience anything like that ever again. I'm reluctant to spell it all out, but this event is bringing a recession that will be roughly 10 times worse. If I had to describe whats coming the tsunami in phuket would be a good analogy, right now the the ocean has withdrawn just 2 meters from the low tide shoreline.

With you Xeptu. This isn’t a recession. This is a depression. Read up on the last one and come up
with your own conclusions.

Yeah I wouldn't argue with that, I was being gentle, when reporting season is finished, expect a sea of red in the markets, that marks the beginning, returning to my analogy the ocean is then withdrawn 2 kilometres from the low tide shoreline

normanton and Xeptu, the way a VR process works is you only want to offer a package that gets as close to your intended target as possible. Too small a package and not enough take it, but if hundreds more take it than you need then you have made it too big.

This result (4% of your intended target) is a win for management.

exactly. Someone's getting a bonus for that once the dust settles

Unless you have targeted a specific audience there's no way to predict how much interest your're going to get.

I don’t discount the doom and gloom brigade but there is a substantial difference between the 1930’s Depression and this one, ie Governments are willing to spend, back then they did f$#k all and let the economy tank. These days money is so cheap, buy yourself out, governments now have interest rates close to 0.7% that pretty much is a brainer to spend yourself out.

Really, I guess your about to find out what the impact of debt is.

Bang On!

The VR package proposed was designed to attract 196 surplus pilots. They got 188

Undersubscribed..really?? spare me your negative sh*t

If normanton is back from LWOP in 20 years, there's a chance him and Telfer will be flying together. My Lord...

You need to read your EA again, LWOP doesn't guarantee anything - it's QF's discretion. You trust them? Do you ever wonder why no one else does?

We/I don't mean to be negative we are not employees, who was the target audience, how many were in the target audience. Then I'll decide whether I agree with you or not.

who was the target audience?....196 pilots
how many were in the target audience?.....196 pilots

END

On that basis, a very good result, but still under subscribed

They have said they will exercise bypass on CR to those who take lwop

Hundreds of witnesses on various webinars etc

Are you seriously suggesting QF would attempt to renege on this ? , that would sort of be a bit silly & it wouldn't be so successful

There is a reason QF always win in legal hearings re: employee matters (or AIPA who they always roll) , they play by the book

So you actually believe they will renege on those who take lwop ?

Or perhaps you are just trying to scare people