Cargolux details requested!
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CV is set to receive 100 million euro in state aid according to local media. Activity dropped 12% in the first nine months of this year compared to 2008, resulting in a 100 million euro loss. The "price fixing fine" has still to be determined, and paid...........Would-be new hires had better not be holding their breath.
Top Dog
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Government financial aid for Cargolux
LUXEMBOURG The transport airline Cargolux will receive a 100 million euro financial guarantee from the state.
Cargolux shareholders and the Luxembourg government have agreed on a rescue plan for the financially challenged airline.
On Monday a meeting was held between the airline shareholders and the government and a capital increase of 100 million dollars (75 million euros) was confirmed by the group. The group has registered a 100 million euro loss this year, and the state has therefore agreed to lend Cargolux a further 100 million euros.
The record losses are mostly due to the economical and financial crisis since the demand has decreased brutally. The freight rates have dropped dramatically since the beginning of the economic crisis and they are currently 30% lower than beforehand. In the first 9 months of 2009, Cargolux activity has dropped about 12% compared to 2008.
LUXEMBOURG The transport airline Cargolux will receive a 100 million euro financial guarantee from the state.
Cargolux shareholders and the Luxembourg government have agreed on a rescue plan for the financially challenged airline.
On Monday a meeting was held between the airline shareholders and the government and a capital increase of 100 million dollars (75 million euros) was confirmed by the group. The group has registered a 100 million euro loss this year, and the state has therefore agreed to lend Cargolux a further 100 million euros.
The record losses are mostly due to the economical and financial crisis since the demand has decreased brutally. The freight rates have dropped dramatically since the beginning of the economic crisis and they are currently 30% lower than beforehand. In the first 9 months of 2009, Cargolux activity has dropped about 12% compared to 2008.
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you want some speculation?
ok, let's see.
they getting 100 million from the state.
+ they just removed 2 a/c from the fleet.
-------------------------------------
= they are short on cash and have 2 sets of spare crew.
okay, maybe scheduling was tight before and has gotten some relief now.
but i would still rate the chance for new recruiting to 'rather slim'.
ok, let's see. they getting 100 million from the state.
+ they just removed 2 a/c from the fleet.
-------------------------------------
= they are short on cash and have 2 sets of spare crew.
okay, maybe scheduling was tight before and has gotten some relief now.
but i would still rate the chance for new recruiting to 'rather slim'.
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Nepotism somewhere here?
While the Luxembourg government will provide state guarantees to Cargolux, new investors in the company are simply ignored. A US lead consortium who proposed to invest in the company and provide a turnaround strategy that is based on new markets and profitable routes has made an offer to invest 400m into Cargolux. The government has totally ignored this offer and instead is working on a half concocted plan to sell 33% to Qatar airways. This means that Cargolux would halve to operate the 777 fleet of Qatar which is totally contrary to the companys successful business strategy of a uniform 747-400 fleet with 13 new -8Fs on order. Luxembourg tax payers money is preferred over private funds. Hmmm
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Rumours, rumours, the spicy part of a pilot life.....
To be honest, I could not believe that CLX change its complete strategy, maintained for decades in such a movement.
To be honest, I could not believe that CLX change its complete strategy, maintained for decades in such a movement.
Arnold, amongst other things the Luxembourgers are extremely well in managing assets and capital. Selling a major part of the shares in the 5th (?) biggest employer of the country would seem reckless. It will be the best decision for the company, employees and everyone else dependent on the existence of this company.
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Is it just me or does it still say " no more vacancies until end of 2009 " on the Interpersonal website.
Letīs hope for some positive news in the near future.
Bluebird
Letīs hope for some positive news in the near future.
Bluebird
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worked there from 1990 to 1997 . great times. crews were great . mostly from Iceland , Scandinavia and the few like myself from ireland. hope they are all keeping well .
im taking back by the wages you are all talking about now in cargolux.
tom
im taking back by the wages you are all talking about now in cargolux.
tom
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If the B747-8f is now flying and Cargolux will be in a position to take their allocated airframes, then where are the new trained and qualified groundcrew to look after them? I'm aware that all the aircrew are fighting to get their 'bums-on-seats' for driving them, but so far no back-up or support facilities being created. Logistical support doesn't happen overnight, so if the launch is mid-2010, the offices, stores, ground equipment and personnel need sorting now. And to take it one step further, Pilots can usually be positioned around the globe relatively easily, are they going to have "Flying Spanners" to travel around until they have support staff in place?
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maybe the 748 isn't that much different from the 744. it's a nose-loader that now takes 4 more pallets. maybe the forklift needs to go some inches further up. and it consumes fuel and oil.
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Dear Cargolux pilots:
At the start of this thread, it was said that the crew were flying to the limits, with long absences from home etc.
3 years later, how have things changed? What is a typical month like now? Still only 6 days off in a row, with a few floating days? If I send my application to Cargolux and get hired, how many days would I spent at home every month?
Also, I tried to find the information on the thread: could you tell me some of the stayover of the Cargolux network?
Thanks a lot
At the start of this thread, it was said that the crew were flying to the limits, with long absences from home etc.
3 years later, how have things changed? What is a typical month like now? Still only 6 days off in a row, with a few floating days? If I send my application to Cargolux and get hired, how many days would I spent at home every month?
Also, I tried to find the information on the thread: could you tell me some of the stayover of the Cargolux network?
Thanks a lot
This rumour has been around a little while. Bear in mind though that this still only takes them back to the number of aircraft operated last September.
I could tell you where they are coming from but i would have to kill you! (No, they are not -ERFs from Loadair).
I could tell you where they are coming from but i would have to kill you! (No, they are not -ERFs from Loadair).