Cargolux in trouble?
 

In Schiphol yesterday I heard that Cargolux was in trouble and the vultures were circling. No idea if its true but this is the rumour forum.

I heard this other thing about Cargolux that they use the pay-for-training program. Pilots willing to get heavy + international experience can join their f/o program for some rediculous amount. Any truth in this?

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Cargolux in trouble? I find that very hard to believe. However no smoke without fire somewhere.

With regards to the trendy "pay and play" contracts being offered by several operators - read more here!

VK

cargolux in trouble

with a record profit on the horizon and strong route network commercially we are sound. the only people in 'trouble' are a bunch of disaaffected individuals who dont know when they have it so good. My god.. the airline even carries the flt decks bags up the stairs for them.

maybe lagos will toughen some of them up



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Woodman - you been on some exotic baccy in AMS????

Acmi48 says 'record profits on the way' etc etc, why the need to offer a self funded 747 type rating scheme for F/O's then?

It seems ironic that cashed-up (experienced) wanabee's should have to compensate the monthly wage bill if this is the case.

If the company is on track to make records profits then greed is certainly alive and well amongst the accountants running Cargolux..

...Besides, Cargolux still has wads of cash to continue to pay contractors to fly its freight. :uhoh:

Hi ACMI,
A disappointing post from you. I thought you knew what you were talking about... The fact that our suitcases are being carried up the stairs at a few destinations is hardly the issue here. Personally I have 3 off-days in the next 28 days with 90 Block Hours. All three of those days falls in rest periods. I welcome anyone else in the business to top that type of working conditions, especially flying long haul!

Can only speak from experience acmi, but the crews carried their own bags to the top of the steps in MEL. We tied them down of course. Although, I imagine in the "Kingdom of the Expats", this would probably be the norm...are you referring to LUX perhaps?

As for CV in trouble...still expanding the fleet & the network from what I'm hearing. Go you good thing!:ok:

Woodman: What do you mean by "trouble"?

Financial? - doubt it. As others have said, record profits again.

Regulatory?

Unions?

:confused:

In trouble?:confused: Can't see that one, somehow.

So who are the circling vultures? Instigators of the rumour, maybe?

Matatu Man:cool:

aaah rumor here's a word i like being known as the apostle of evil in certain offices in a certain company here's one that is not a rumor CV pilots are at average 40 % cheaper than other "freighters" chew on that CV management and revise your "rent-a-pilot" politics

???

Excuse my ignorance, but what has the (for you) 'oh-so-appalling-hiring-and-employment-policy' of CV to do with this thread?

I don't think looking at the figures that CV is in trouble.

Estimated revenue for 2004 was expected to be $1.1 billion.

Op profit for 2003 $64.9 million up 17%. That's not too bad at all!

The 14th B747-400F scheduled to arrive in October and the board approved purchase of another 400F.

The only fly in the ointment is the situation with SAir's 34.9% shareholding. After they went bust that asset went to the trustee for the creditors. The trustee is under pressure from the creditors on this.

2004 profit expected to be ~75M US$.

The only trouble I see is the lousy relationship between pilots and management leading to a low morale. Also due to extremely poor rostering there is a higher than normal sickness rate.

...any developments on possible A380 deal?

4r7f,

Are things really that bad? It's a shame to come here and read that so many pilots are pi**ed off. That's never a good sign.

It's funny because in Decembers ATW magazine, their CEO was waxing lyrically about how great the company was and how wonderful is was doing and it's the pride of Europe etc

Are CV using contracted pilots from agencies? I know there has been big trouble in this area before.

sure its a pilot rumour forum, but there ain`t only pilots that are... - then on the other hand there are 300+ versus a 100 "out-smarted" other folks :{

Sounds like someone on the forum here lives in a country that has a very high taxation rate, wants to travel for 8 hours each way to get to work twice, or maybe 3 times a month, fills their car up with cheap fuel in Luxembourg, whilst paying less income tax then he would of in his country of origin, benefits from the generous social security from the state he works in, flies nearly brand new a/c, has 6weeks hols a year, good remuneration, and when their are away from base is paid a good per-diem to spend as they whish, stays in 4-5star hotels.....etc etc. Yep i agree with him, u are entitled to be pissed off, so pissed off he should go and look at the conditions of flying at other outfits and get facts on that....(u obviously don't understand that much about aviation as most airlines have poor relationships with management and crewing, its "their" job remmeber) as opposed to whining when u get your profit share, because of your the colleagues who haven't been sick have done your flights for u, due the these obscene pressure's your under.
If you don't like the heat get out of the fire, and let someone who wants the job do it properly instead. (even if they have a slight snifel)
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