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EK to Decommission 50%+ of Airbus A380, Axe 1/2 of Pilots & Cabin Crew

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EK to Decommission 50%+ of Airbus A380, Axe 1/2 of Pilots & Cabin Crew

Old 21st Jun 2021, 06:49
  #1921 (permalink)  
 
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Pistolpete47

since you have a BCom in finance am sure that you are aware that partial reporting of financial statement without debt included is a useless tool in assessing a company status! The results published are a mere P/L results and nothing more. There is no way one can find out how the true on going concern of the company or a holistic picture of what the company’s financial status is. The best part is that no expert PPruner will ever know as they are not legally bound to show the full financial results. So whatever anyone says about the future financial viability of EK is not solid but a mere puff that PPruners use to flex their muscles of knowledge in aviation finance!

Last edited by Un_Limited; 21st Jun 2021 at 10:45.
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Old 21st Jun 2021, 08:06
  #1922 (permalink)  
 
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Letís not get bogged down with whoís lost more money than who.

Keep it simple. Recovery is a long way off.

Do you really think the numbers released are genuine? Come off it. We all know how the Middle East works.

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Old 21st Jun 2021, 08:09
  #1923 (permalink)  
 
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Cam down lads, we have Peter has a “BCom” in Finance.
Are you for real?

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Old 21st Jun 2021, 11:04
  #1924 (permalink)  
 
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Nervous and Nimrod.
If youíd taken the time to look at the EK Annual Report for 2019/2020 youíd find all the information youíd want. Itís called a Balance Sheet, and is also summarized, including Debt, in the ďFinancial HighlightsĒ. Itís all included in the document. Iím pretty sure that one will be published for 2020/2021. After 33 years there, yes, I know how the ME works, but I also have confidence that PWC would not sign off on the EK audit if they had doubts or did not otherwise trust the information which they were supplied with - the reputational damage would be severe. If you choose a cynical point of view, well, thatís your choice. As the saying goes, never let the truth get in the way of a good story.
Iím not defending EK here, but I would like to think that any rumour or speculation would be well founded in at least a modicum of truth. Wild generalizations and pure guesswork are just not helpful. Nobody is saying the Financials are good - theyíre horrible, but itís not one carrier, itís the whole industry.

Last edited by 777boyo; 21st Jun 2021 at 11:14.
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Old 21st Jun 2021, 11:43
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nervous_novice

I was under the impression that IAG group had received several bailout loans since the pandemic began, and specifically BA received £2 billion in January. The £2 billion may have arisen from bank loans but those loans were in fact backed by the U.K. government under its export development guarantee.

In any case, what do you care? If you no longer work in EK, or never worked there, then move on and concentrate your efforts on making a happy life for yourself. All this negativity is no good for you, brother.
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Old 21st Jun 2021, 14:37
  #1926 (permalink)  
 
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I suppose when you write "the likes of British Airways", that actually includes British Airways? In which case that airline has received state aid, in the form of a government backed loan. You may also wish to have a look at every single US and European major who, in one form or the other, have received state aid in order to stay afloat (aloft?) for the last year and a half.

I get that you don't like the A380 or EK, and that's fair enough - we all have your preferences and dislikes. I have enjoyed flying EK over the years, and always the most when the service was operated by an A380.
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Old 21st Jun 2021, 15:15
  #1927 (permalink)  
 
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777boyo

This is a rumour site mate. The clue is in the name.
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Old 21st Jun 2021, 22:53
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777boyo

Google „PWC & scandal” - heaps of examples, where they have failed in the past! Just sayin’
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Old 22nd Jun 2021, 01:20
  #1929 (permalink)  
 
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Some people want to enjoy false news because it backs up their views. I work in the industry now while I'm waiting to get back into flying and handle annual reports every day so know a little about it.

But hey, believe what you want. I'm just offering a different view point that's not tarnished with doom and gloom.
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Old 22nd Jun 2021, 03:32
  #1930 (permalink)  
 
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Nimrod.
Sure it’s a rumour site, but have you thought about the effect that constant negativity and statements such as “the company is insolvent” (its not) might have on the guys and girls who are still there or hoping to be recalled and rebuild their lives? False news and complete absence of some factual basis is not helpful and just causes unnecessary stress. It’s a bit like those TRE’s who would push some favoured but undocumented technique with “it’s an airmanship thing, mate”. Pointless.

Paule737.
Thanks for the reference - interesting reading. All the Big Four are under the microscope at the moment and will be on their best behaviour.
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Old 22nd Jun 2021, 08:40
  #1931 (permalink)  
 
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I just find itís strange that you are writing on PPRuNe about your undergraduate BCOM qualification in an effort to sound like you have half an idea of what you are on about. (you donít)

Sorry,777boyo but you ainít no auditor and if you canít take negative comments in the middle of a global pandemic when we have 100 lots of 380s sat on the tarmac, then go somewhere else.
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Old 22nd Jun 2021, 09:02
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"Sorry,777boyo but you ain’t no auditor and if you can’t take negative comments in the middle of a global pandemic when we have 100 lots of 380s sat on the tarmac, then go somewhere else".

Wow, you sound just like a certain very senior manager.........
I really hope things improve for you soon and you have a great life.

Last edited by 777boyo; 22nd Jun 2021 at 09:49.
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Old 29th Jun 2021, 13:30
  #1933 (permalink)  
 
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73NG. The company internal policy will be to not rehire any former employee that was previously cost-wise unproductive or failed to meet above average reviews. It’s an issue of why would you make the same mistake twice?
EK is currently top heavy with UAE National cadets, too.
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Old 30th Jun 2021, 10:56
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Well in my limited experience of the industry , policies change when an airline / outfit really needs to expand or needs crews ,
weather it’s minimum requirements for upgrades , hiring and so on . It only makes financial sense for them to rehire ‘ IF ‘ they would need crews on the T7.
how do you know that’s gonna be the internal policy ?
And I will make the same mistake again if I don’t have a job 🤷🏼‍♂️

Last edited by Flyboy_73NG; 30th Jun 2021 at 17:28.
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Old 30th Jun 2021, 11:09
  #1935 (permalink)  
 
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You can only dream. While you gain extra years of age waiting for a miracle, younger & fitter pilots become more attractive and will live in fear of calling sick or fatigued. You might want to ask a friend who works in HR for their honest opinion on how they choose candidates. Good luck to you.
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Old 30th Jun 2021, 12:50
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You too .
🤙🏽
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Old 12th Jul 2021, 07:50
  #1937 (permalink)  
 
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Younger and fitter pilots? What on earth are you on about?
Are we going to play in Qatar 2022?
I think you mean spineless and compliant.
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Old 14th Jul 2021, 08:37
  #1938 (permalink)  
 
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When are all our elite unpaid leave super-trooper jumbo pilot extroaidnairs coming back ?
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Old 14th Jul 2021, 10:22
  #1939 (permalink)  
 
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Hopefully as soon as possible in order that some more of our colleagues and their families can have their lives back?

Heard 50 have been recalled today which is great news.
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Old 14th Jul 2021, 10:58
  #1940 (permalink)  
 
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I added that clown nimrodjoe to the ignore list some time ago. A mate has just shown me some of his/her/it recent screaming for attention posts, and I am really glad I did.

I recommend it.

Last edited by donpizmeov; 14th Jul 2021 at 12:51.
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