Netjets Europe fires 25% of pilots
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Netjets Europe fires 25% of pilots
Netjets Europe seems to be in big trouble loosing the Berkshire Hathaway fundings and therefore disposing their Falcon fleet and firing 25% of their pilots.
Good time for the owners to join other EU operators; seems they are more sensible and robust.
Good time for the owners to join other EU operators; seems they are more sensible and robust.
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Like VJ who entered this crisis already loaded with huge amounts of debt ?
Look left and right and get rid of your pink sunglasses mate
- 15 Falcon 2000EX EASy
- 3 Citation XLS
- 120 pilots
- 50 cabin crew
Further details to follow, depending on what can be shared and what not, at this point in time.
- 3 Citation XLS
- 120 pilots
- 50 cabin crew
Further details to follow, depending on what can be shared and what not, at this point in time.
Last edited by EatMyShorts!; 24th Apr 2020 at 09:22.
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Wow! Didn't expect that one!
As no other "big player" in the Biz Jet sector is making redundancies for now, either Netjets knows more or its just worthless to be part of the Berkshire Heathaway group...
As no other "big player" in the Biz Jet sector is making redundancies for now, either Netjets knows more or its just worthless to be part of the Berkshire Heathaway group...
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Good time for the owners to join other EU operators; seems they are more sensible and robust.
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And, no, I do not think that Netjets will go under. They are just trying to cut their fixed cost, albeit not the way it should be done (firing people according to their fleets and not according seniority).
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oh sorry. Yes you'r right, not that i know of.
I got friends flying for varios operators (Vistajet, Air Hamburg, IJM....) most of them are in short-time work, yet still employed... as far as i know!
I was just wondering why Netjets (claiming to be "the biggest and best one") are one of the first to reduce their workforce by 25% while others uses short-time work to reduce their cost and still be set up if the business picks up again.
I wonder if Netjets is just playing it safe if the business doesn't pick up or if they know more? I think we will just see it in future who had been the smart one...
I got friends flying for varios operators (Vistajet, Air Hamburg, IJM....) most of them are in short-time work, yet still employed... as far as i know!
I was just wondering why Netjets (claiming to be "the biggest and best one") are one of the first to reduce their workforce by 25% while others uses short-time work to reduce their cost and still be set up if the business picks up again.
I wonder if Netjets is just playing it safe if the business doesn't pick up or if they know more? I think we will just see it in future who had been the smart one...
It's always about who's the boss and what his vision or the lack of vision is. Firing people is one thing, but firing people outside the order of seniority is another. A lot of very senior people are being let go and are deeply shocked. I guess it's all about getting back up on their feet and get going. There will be jobs at some point, but they probably won't be as comfortable as in Netjets.
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The boss will get rid of people he doesn’t get on with first, followed by those on the highest salary, whilst still able to meet commitments.
The days of “first in last out” don’t exist any more and haven’t done so for a long time.
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Nevertheless, there must be really something bad going on if you are one of the first "big one" who fires people with this well advertised Berkshire Heathaway background.
I can imaging that there's even a damage to the brand itself in the eyes of the current and future aircraft share holders. Like, "NetJets looses trust and founding of Berkshire Heathaway"(which is greatly advertised, at least to my knowledge) so why would i buy a aircraft share at a company at high risk?
Same goes for crew. Yes, obviously they offer a really nice package but in the first sight of a crisis you have a great chance of beeing fired, regardless of seniority number... and you can't count on the huge background as well...
So, i think there is anything big going on if they risk all of that. (Please correct me if im wrong with my thoughts).
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Corporate Jet Investor
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Nobody understands it. NOW is the time to look for good deals for new aircraft, they should be getting cheaper and cheaper. Use the crisis to get read for the end of the crisis and then emerge stronger.
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Please share these good deals. Give a rundown or List price vs Market averages instead of being ambiguous and vague. Lots of “wishy-washy” unsubstantiated comments. Have you had any discussions with aircraft owners and clients?
I am just a stupid pilot, we pay our managers a lot of money to do this kind of stuff, to have a vision, a strategy. Not to just panic and cut costs the easiest way, while there are better ways to achieve almost the same.
And of course, RIGHT NOW there are not so many good deals yet, but sooner or later manufacturers will be more willing to offer good deals that would make a good investment into the future. It's like with regular shares, buy low, sell high, don't stay behind the power curve.
And of course, RIGHT NOW there are not so many good deals yet, but sooner or later manufacturers will be more willing to offer good deals that would make a good investment into the future. It's like with regular shares, buy low, sell high, don't stay behind the power curve.