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Netjets Europe fires 25% of pilots

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Netjets Europe fires 25% of pilots

Old 23rd Apr 2020, 17:16
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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.

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Old 23rd Apr 2020, 19:39
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Originally Posted by no nonsense View Post
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.
Oh really ?
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


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Old 23rd Apr 2020, 21:07
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- 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.

Last edited by EatMyShorts!; 24th Apr 2020 at 09:22.
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Old 24th Apr 2020, 07:08
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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...
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Old 24th Apr 2020, 07:11
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Good time for the owners to join other EU operators; seems they are more sensible and robust.
If there is one company that will remain and is sensible and robust it is NetJets... The fact that they have redundancies make me worry more about the others out there...
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Old 24th Apr 2020, 08:20
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Originally Posted by flyer12900 View Post
what is the source of this information?
I've been approached by several Falcon pilots seeking work and confirming they've been laid off.
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Old 24th Apr 2020, 08:24
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Originally Posted by Aso View Post
If there is one company that will remain and is sensible and robust it is NetJets... The fact that they have redundancies make me worry more about the others out there...
Spot on ! You nailed it
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Old 24th Apr 2020, 08:35
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What is the source?... It seems nothing has been officially published ….
How many guys exactly?
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Old 24th Apr 2020, 09:22
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Read my previous post.
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Old 24th Apr 2020, 11:07
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Originally Posted by TheHack View Post
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...
None that you know of...

OB
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Old 24th Apr 2020, 12:13
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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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Old 24th Apr 2020, 12:33
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Originally Posted by Opsbeatch View Post
None that you know of...

OB
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...
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Old 24th Apr 2020, 21:17
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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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Old 24th Apr 2020, 22:43
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Originally Posted by EatMyShorts! View Post
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. .
Nothing unusual about that.
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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Old 26th Apr 2020, 10:07
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Originally Posted by 3wheels View Post
Nothing unusual about that.
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.
Depends if there is any policy like "first in last out" is in place. I think you'll need a good reason to divert from policies. Obviously it's the disposal of the Falcon fleet... or is it just because the demography is quite high in this company, as far as i know... i hope i do not trigger anyone, to make you sure, im not defending this whole situation nor think that this is fair at all.

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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Old 26th Apr 2020, 10:32
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Corporate Jet Investor

Business aviation executives webinar

https://privatejetcardcomparisons.co...-covid-19/amp/
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Old 26th Apr 2020, 10:39
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Originally Posted by 3RDi View Post
Business aviation executives webinar

Thank you for your link. That makes sense as well.
So why the hell is Netjets laying off 25% of their crew?? I just get more and more confused...

Last edited by TheHack; 26th Apr 2020 at 11:30.
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Old 26th Apr 2020, 12:30
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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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Old 26th Apr 2020, 12:42
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Originally Posted by EatMyShorts! View Post
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.
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?
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Old 26th Apr 2020, 12:48
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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.
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