Wizzair
Join Date: Jan 2008
Location: Switzerland ... oh wait: Swaziland
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Moved to Warsaw and Sofia for lack of crew. The self-proclamed strategic winner of the pandemic (haha) can't crew its flights even
though half of the fleet is still grounded.
though half of the fleet is still grounded.
Join Date: Aug 2016
Location: Europe
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This makes sense. 115-120 aircraft pre-COVID, 20% reduction in the workforce. Crews for roughly 100 aircraft remaining (assuming full productivity of said aircraft). 148 aircraft planned for the end of the FY in March 2022. So, if those aircraft will reach full productivity by next summer, crews for 40+ aircraft will be required. At 6 crews per aircraft, you do the maths how many pilots would that be. And reduce the number accordingly for any planned productivity of less than 100%.
Only half a speed-brake
Assuming full productivity: 40 a/c * 4,8 crew * 2 = 384 additional pilots.
Class of 10 every 2 weeks for the upcoming year and a half, that's one hell of a busy training department. On pan-european scale also only 15 pilots per country, a marginal success at best.
Class of 10 every 2 weeks for the upcoming year and a half, that's one hell of a busy training department. On pan-european scale also only 15 pilots per country, a marginal success at best.
Join Date: Mar 2021
Location: IT
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Pilots who have been recruited recently are only being offered Confair contracts.... ("Service Providers Pilots"... No social security, no healthcare, no pension. Hardly legal in a lot of EU countries)
Join Date: Jan 2019
Location: FL390
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Potatos_69
Oh nice, hearing everyone's opinion they will be quite under crewed for the capacity they have. Is there a possibility that they will rehire there old crews the so called "bad apples" or will it be fresh crews for the ramp up.
Quite a suprise as previously mentioned that they are under crewed at the minute as in their investors presentation they were boasting that they can rapidly ramp up and have no crew issues
Oh nice, hearing everyone's opinion they will be quite under crewed for the capacity they have. Is there a possibility that they will rehire there old crews the so called "bad apples" or will it be fresh crews for the ramp up.
Quite a suprise as previously mentioned that they are under crewed at the minute as in their investors presentation they were boasting that they can rapidly ramp up and have no crew issues
Join Date: Aug 2016
Location: Europe
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Some of those who were let go of will be rehired, others won't be. There was talk of the "good leavers and bad leavers" even in an official interview not too long ago. Also, some of both cohorts are already flying for other companies and probably won't leave their current jobs for the sake of rejoining.
Join Date: Jan 2008
Location: Switzerland ... oh wait: Swaziland
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Join Date: Jun 2021
Location: On the ground or in the air
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Post by "Joe" on Workplace:
"WIZZ@500
Wizz Air to grow fleet to 500 aircraft and organization to 20,000 employees by 2030. Primary focus on growing Central and Eastern Europe along with expanding “Go East” and select markets in Western Europe. No better career opportunities!"
"WIZZ@500
Wizz Air to grow fleet to 500 aircraft and organization to 20,000 employees by 2030. Primary focus on growing Central and Eastern Europe along with expanding “Go East” and select markets in Western Europe. No better career opportunities!"
Join Date: Jan 2005
Location: Europe
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Somehow the share price needs to increase to 120GBP over the next 5 years, in order for 'Joe' to gain a 100 million GBP bonus, and the leadership team a combined 50 million.
But let's look at the bright side - up to 5 additional monthly base salaries until then for all the other employees ;-)
https://www.ft.com/content/b30bac06-...d-60bb5e30005b
But let's look at the bright side - up to 5 additional monthly base salaries until then for all the other employees ;-)
https://www.ft.com/content/b30bac06-...d-60bb5e30005b
Wizz Air will hand its chief executive Jozsef Varadi a £100m bonus if he can rapidly grow the low-cost airline as it emerges from the pandemic, setting up one of the biggest ever payouts from a London-listed company. Varadi will need to more than double Wizz’s share price from £48 to £120 over the next five years to hit the one-off award, which would be paid in shares over a four-year period, according to documents sent to shareholders ahead of the company’s annual meeting and seen by the Financial Times. The potential windfall underlines Wizz’s aggressive expansion plans across Europe, as well as its reliance on Varadi to execute them. It would also leave the Hungarian better paid than almost all his peers in the European airline industry, including Ryanair boss Michael O’Leary, who signed a contract in 2019, which included a €99m payout from stock options, dependent on the airline’s share price or profitability over five years....
...The £100m is the maximum Varadi can be paid if the share price increases at a compound annual growth rate of 20 per cent over the five years. Anything between a 10 and 20 per cent growth rate will lead to him being paid between £20m and £100m, depending on share price performance. Varadi will also need to hit an emissions and gender diversity target. In a letter to shareholders ahead of the annual meeting, the chair of Wizz’s remuneration committee Barry Eccleston said the payout was needed to ensure Varadi committed his future to the Hungarian-based airline. Varadi’s contract ran out at the end of last year, and was extended while a new offer was drawn up. He has taken a pay cut during the pandemic, with a €1.97m salary this year. Wizz’s board met investors representing about half of the company’s shares to discuss the bonus, and subsequently beefed up the performance target. Shareholders will need to back the package at the annual meeting on July 27, which also includes a £50m bonus pool for other senior leadership, and smaller bonuses for all staff including cabin crew, whose comparatively low wages have helped make Wizz Air so competitive.
...The £100m is the maximum Varadi can be paid if the share price increases at a compound annual growth rate of 20 per cent over the five years. Anything between a 10 and 20 per cent growth rate will lead to him being paid between £20m and £100m, depending on share price performance. Varadi will also need to hit an emissions and gender diversity target. In a letter to shareholders ahead of the annual meeting, the chair of Wizz’s remuneration committee Barry Eccleston said the payout was needed to ensure Varadi committed his future to the Hungarian-based airline. Varadi’s contract ran out at the end of last year, and was extended while a new offer was drawn up. He has taken a pay cut during the pandemic, with a €1.97m salary this year. Wizz’s board met investors representing about half of the company’s shares to discuss the bonus, and subsequently beefed up the performance target. Shareholders will need to back the package at the annual meeting on July 27, which also includes a £50m bonus pool for other senior leadership, and smaller bonuses for all staff including cabin crew, whose comparatively low wages have helped make Wizz Air so competitive.