Growing Evidence That The Upturn Is Upon Us
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GSB
Thankyou for your PM
Indeed sir a Gentlemens bet, the wager is set. I share your sentiment that we hope to have no redundancys.... The Pprune fund is an excellent idea!
16th September 2009 already in the PDA wish you the worst of luck!
Regards
PS no hard data on ILFC just bull**** speculation about the parent AIG, ILFC will be the first "crown jewel"to go to a well funded ME buyer or Berkshire (NJE parent) whose sizeable deposits will ease the presure on funding worrys
Thankyou for your PM
Indeed sir a Gentlemens bet, the wager is set. I share your sentiment that we hope to have no redundancys.... The Pprune fund is an excellent idea!
16th September 2009 already in the PDA wish you the worst of luck!
Regards
PS no hard data on ILFC just bull**** speculation about the parent AIG, ILFC will be the first "crown jewel"to go to a well funded ME buyer or Berkshire (NJE parent) whose sizeable deposits will ease the presure on funding worrys
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More bad news in another leaked memo.
Its not looking good guys in this memo from my company recieved today.
Sorry folks, a bit of light hearted relief in these troubled times. WWW please move it to jet blast if deemed more appropriate.
To Our Valued Pilot Group
The airline industry is in a crisis. Its business model doesn't work with the current price of fuel and the existing level of capacity in the marketplace. We need to make changes in response.
While there have been several successful fare increases, those increases haven't been sufficient to cover the rising cost of fuel. As fares increase, fewer customers will fly. As fewer customers fly, we will need to reduce our capacity to match the reduced demand. As we reduce our capacity, we will need fewer employees to operate the airline. Although these changes will be painful, we must adapt to the reality of today's market to successfully navigate these difficult times.
Therefore, a program to phase out the more senior pilots by the end of the current fiscal year, via retirement, will be placed into effect immediately. Under this plan, senior pilots will be asked to take early retirement, thus permitting the retention of the new-hires who represent our future. This program will be known as SLAP (Sever Late-Aged Pilots). Pilots who are SLAPPED will be given the opportunity to look for jobs outside the company. SLAPPED Pilots can request a review of their employment records before actual retirement takes place. This review phase of the program is called SCREW (Survey of Capabilities of Retired Early Workers). All pilots who have been SLAPPED and SCREWED may file an appeal with upper management. This appeal is called SHAFT (Study by Higher Authority Following Termination). Under the terms of the new policy, a pilot may be SLAPPED once, SCREWED twice, but may be SHAFTED as many times as the company deems appropriate.
If a pilot follows the above procedure, he/she will be entitled to get: H€RP€S (Half Earnings for Retired Personnel's Early Severance) or CLAP (Combined Lump sum Assistance Payment). As H€RP€S and CLAP are considered benefit plans, any pilot who has received H€RP€S or CLAP will no longer be SCREWED or SHAFTED by the company.
Management wishes to assure the younger pilots who remain on board that the company will continue its policy of training pilots through our: Special High Intensity Training ($#!T). We take pride in the amount of $#!T our pilots receive. We have given our pilots more $#!T than any company in this area. If any pilot feels they do not receive enough $#!T on the job, see your Chief Pilot. Your Chief Pilot is specially trained to make sure you receive all the $#!T you can handle.
And, once again, thanks for all your years of service with us.
Sincerely,
Your Well-compensated Golden-parachute-in-position Senior VP Management Leadership Team
The airline industry is in a crisis. Its business model doesn't work with the current price of fuel and the existing level of capacity in the marketplace. We need to make changes in response.
While there have been several successful fare increases, those increases haven't been sufficient to cover the rising cost of fuel. As fares increase, fewer customers will fly. As fewer customers fly, we will need to reduce our capacity to match the reduced demand. As we reduce our capacity, we will need fewer employees to operate the airline. Although these changes will be painful, we must adapt to the reality of today's market to successfully navigate these difficult times.
Therefore, a program to phase out the more senior pilots by the end of the current fiscal year, via retirement, will be placed into effect immediately. Under this plan, senior pilots will be asked to take early retirement, thus permitting the retention of the new-hires who represent our future. This program will be known as SLAP (Sever Late-Aged Pilots). Pilots who are SLAPPED will be given the opportunity to look for jobs outside the company. SLAPPED Pilots can request a review of their employment records before actual retirement takes place. This review phase of the program is called SCREW (Survey of Capabilities of Retired Early Workers). All pilots who have been SLAPPED and SCREWED may file an appeal with upper management. This appeal is called SHAFT (Study by Higher Authority Following Termination). Under the terms of the new policy, a pilot may be SLAPPED once, SCREWED twice, but may be SHAFTED as many times as the company deems appropriate.
If a pilot follows the above procedure, he/she will be entitled to get: H€RP€S (Half Earnings for Retired Personnel's Early Severance) or CLAP (Combined Lump sum Assistance Payment). As H€RP€S and CLAP are considered benefit plans, any pilot who has received H€RP€S or CLAP will no longer be SCREWED or SHAFTED by the company.
Management wishes to assure the younger pilots who remain on board that the company will continue its policy of training pilots through our: Special High Intensity Training ($#!T). We take pride in the amount of $#!T our pilots receive. We have given our pilots more $#!T than any company in this area. If any pilot feels they do not receive enough $#!T on the job, see your Chief Pilot. Your Chief Pilot is specially trained to make sure you receive all the $#!T you can handle.
And, once again, thanks for all your years of service with us.
Sincerely,
Your Well-compensated Golden-parachute-in-position Senior VP Management Leadership Team
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Way off topic but in response to a previous post:
Re getting out the fiddle....state schools.... all learning the same etc etc.
My 7 year old has just started (at his request) playing the violin at school. He has been playing the piano for 1 year already (taught at school too).
*HE* has also passed his first grading in ballet (he's been doing it at school for a couple of years) and has had no hint of a problem from the other boys at school. (a few of them do tap).
He also plays rugby/football/cricket/gym etc at least twice a week in school, on a proper playing field or gym.
95% of the year 2 kids gave up their break time at least once a week through the year to form a choir.
The national curriculum has ensured that all kids are taught the same things...
The reason I send my kids to private school is to ensure they learn more than that is required to put a tick in a government tick box.
No doubt there are state schools out there that go beyond the minimums; the ones where I live don't.
iX
Re getting out the fiddle....state schools.... all learning the same etc etc.
My 7 year old has just started (at his request) playing the violin at school. He has been playing the piano for 1 year already (taught at school too).
*HE* has also passed his first grading in ballet (he's been doing it at school for a couple of years) and has had no hint of a problem from the other boys at school. (a few of them do tap).
He also plays rugby/football/cricket/gym etc at least twice a week in school, on a proper playing field or gym.
95% of the year 2 kids gave up their break time at least once a week through the year to form a choir.
The national curriculum has ensured that all kids are taught the same things...
The reason I send my kids to private school is to ensure they learn more than that is required to put a tick in a government tick box.
No doubt there are state schools out there that go beyond the minimums; the ones where I live don't.
iX
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If they choose to be a (insert derogatory job here) then so be it, its the kids who go through the sausage factories and end up as (insert derogatory job/dole queue here) and don't know any different due to uninterested/selfish parents and tick box schools that wind me up.
Now, back to topic... the upturn is upon us because....
The russians are buying widebody jets for private use and here's a pic of the new private A340, also the last of the -200's according to Flight.
Airliners.net | Airplanes - Aviation - Aircraft- Aircraft Photos & News
iX
Now, back to topic... the upturn is upon us because....
The russians are buying widebody jets for private use and here's a pic of the new private A340, also the last of the -200's according to Flight.
Airliners.net | Airplanes - Aviation - Aircraft- Aircraft Photos & News
iX
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I gather the above A340 will be registered M-ABUS (IOM Register) for any spotters!!!!
So, Grass Strip Basher as a PPL only, got to ask - you base this on what experience of major airlines/experienced pilots?!?
WILL IMPACT YOU AS WANABEE OR EXPERIENCED PILOT! THERE IS LIMITED FUNDING AVAILBLE TO AIRLINES TO ROLL OVER MATURING DEBT.... THIS KILLED XL AND OTHERS WILL FOLLOW.
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WILL IMPACT YOU AS WANABEE OR EXPERIENCED PILOT! THERE IS LIMITED FUNDING AVAILBLE TO AIRLINES TO ROLL OVER MATURING DEBT.... THIS KILLED XL AND OTHERS WILL FOLLOW.
If you reverse the argument, would you, as an ab-initio, prefer to have 300 airlines to choose from of which 250 are "weak airlines" or would you rather hope to get a job in a market where there's only 150 airlines to apply to but 100 of them offer you job security.
Weak airlines will go, strong airlines will take over where they leave (if there's a point in doing that) and offer new, secure jobs.
The airline industry is going through a cleaning process.
Olympic Airways is also going down, the last rumours say...
In Europe, there'll soon be only a few majors to pick from. LH/LX/SN/BM/SK, AF/KL/OS, BA/IB for longhaul, FR/EZY for shorthaul.
The times of each country counting 5 to 15 airlines is over.
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JB 007 my observation is based off the 12 years spending 70 hours a week meeting the CEO/CFOs and studying the institutions that lend money to the airlines to keep your aircraft in the air. Plus listening to my colleagues who spend all their days analysing the airline industry and are on first name terms with the CFO and CEO of all of Europes major airlines.
I come at it from the financial markets side and relay on here what you may not be able to see from sitting up the pointy end. I have no agenda or intention to tell you your job.... just a passion for aviation having come from a long line of pilots (grandfather RAF bomber command, father BA pilot all his life). I am just giving you it straight from the guys that provide the money to grease the wheels of the global economy. I don't care if you don't believe me, all I want to do let you know that the institutions that have been providing debt to the economy now want it repaid... and that is going to hurt.
This has absolutely nothing to do with your skill set in terms of being able to operate a 737/A320 safely.... unfortunately there are bigger issues afoot. Equally as a full ATPL sat at 30,000ft you can have no idea what we look at everyday when studying the financials of these companies in minute detail or indeed comprehend how what is going on in the city will effect your daily life.
All I am trying to do is flag that there is a big bus hurtling towards you at 100 miles an hour... some have now seen it and are bracing themselves.... others are still looking at the view out of the cockpit window..... but hey since I started the original "growing evidence the downturn is upon us" thread everything has been alright hasn't it??.... unless you worked for AL, Zoom, Futura etc etc .... so frankly sir you can shove your patronising "as only a PPL" up your ar*e.... we are not all fresh out of nappies... and the fountain of all knowledge does not necessarily reside in the fart box at the front of an aluminium tube at 30,000ft.
I come at it from the financial markets side and relay on here what you may not be able to see from sitting up the pointy end. I have no agenda or intention to tell you your job.... just a passion for aviation having come from a long line of pilots (grandfather RAF bomber command, father BA pilot all his life). I am just giving you it straight from the guys that provide the money to grease the wheels of the global economy. I don't care if you don't believe me, all I want to do let you know that the institutions that have been providing debt to the economy now want it repaid... and that is going to hurt.
This has absolutely nothing to do with your skill set in terms of being able to operate a 737/A320 safely.... unfortunately there are bigger issues afoot. Equally as a full ATPL sat at 30,000ft you can have no idea what we look at everyday when studying the financials of these companies in minute detail or indeed comprehend how what is going on in the city will effect your daily life.
All I am trying to do is flag that there is a big bus hurtling towards you at 100 miles an hour... some have now seen it and are bracing themselves.... others are still looking at the view out of the cockpit window..... but hey since I started the original "growing evidence the downturn is upon us" thread everything has been alright hasn't it??.... unless you worked for AL, Zoom, Futura etc etc .... so frankly sir you can shove your patronising "as only a PPL" up your ar*e.... we are not all fresh out of nappies... and the fountain of all knowledge does not necessarily reside in the fart box at the front of an aluminium tube at 30,000ft.
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GSB, are these the same big brained suits that got us into this in the first place.... 
Glad to know that they did their job managing risk before and now they are using their own predictions again to manage us out again... oh dear! 
iX
Glad to know that they did their job managing risk before and now they are using their own predictions again to manage us out again... oh dear! iX
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This is not about me, I have tough skin and and more than happy to take the personal flak that is typically aimed at people that are the bearers of bad news. I like the idea that it was the "big brained suits" that got us into this.... the everyday people who borrowed beyond their means and are now failing to fullfil obligations they signed up to are also at the heart of this problem.... they are not "victims".... they are just as bad/guilty as the big brained suits.
What has happened in the past is history... what young wanabees can alter is the future and spending money on a flashy integrated course today is a bigger risk than it was 1-2 years ago. If you disagree with what I am saying or can offer evidence it is factually incorrect feel free to offer evidence to the contrary... this is an open forum after all.
What has happened in the past is history... what young wanabees can alter is the future and spending money on a flashy integrated course today is a bigger risk than it was 1-2 years ago. If you disagree with what I am saying or can offer evidence it is factually incorrect feel free to offer evidence to the contrary... this is an open forum after all.
PPRuNe has two essential strengths.
The first is that it puts you in contact with other Wannabes. Just knowing that you are not alone and not the only one with the same hopes and fears and questions is wonderful.
The second is that it puts you in contact with industry insiders. The amount and specific value of the information and advice they can provide is immense and inavailable elsewhere unless your Dad is Willie Walsh.
An area where we have never had much 'coverage' is from the finance side of the business. As every pilot knows - the thing that makes aeroplanes fly is money. As such I am extremely grateful for Grass Strip Basher bringing his City view of the industry and therefore Wannabeism. I have an amateur interest in economics-finance and a professional interest in flying. I find it extremely useful to find someone for whom the opposite is true.
Personally I don't 'blame' the players who created the mess as much as the regulators and governments that failed to stop them.
WWW
The first is that it puts you in contact with other Wannabes. Just knowing that you are not alone and not the only one with the same hopes and fears and questions is wonderful.
The second is that it puts you in contact with industry insiders. The amount and specific value of the information and advice they can provide is immense and inavailable elsewhere unless your Dad is Willie Walsh.
An area where we have never had much 'coverage' is from the finance side of the business. As every pilot knows - the thing that makes aeroplanes fly is money. As such I am extremely grateful for Grass Strip Basher bringing his City view of the industry and therefore Wannabeism. I have an amateur interest in economics-finance and a professional interest in flying. I find it extremely useful to find someone for whom the opposite is true.
Personally I don't 'blame' the players who created the mess as much as the regulators and governments that failed to stop them.
WWW
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Personally I don't 'blame' the players who created the mess as much as the regulators and governments that failed to stop them.
) etc and i did it within the framework set-up by my employer and the regulator.My employer didn't really care what i was doing at the best of times just as long as i was bringing in business. Over the past few days i've made loads short selling HBOS and i am still making loads today as the share price rebounds muahahahahahaah
If people don't want this mess again the FSA/BoE need to take note and the financial institutions need to change the way the investment culture thrives - do i think it will happen? hell no
Stop your moaning and whining when things pick up again you'll all be fine (and people like me will be a more richer)
Anyway back to learning about clouds
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And it's people short selling shares especially HBos that is causing alot of the problems... "trash and Cash"
Yes I know it's not illegal and plenty of people are making money out of it, but to be honest it's not something to boast about !! So you made some money out it.... The FSA are taking an unprecedented inquiry into HBOS and short selling, why? because it's bad for the comany and the economy...
Yes I know it's not illegal and plenty of people are making money out of it, but to be honest it's not something to boast about !! So you made some money out it.... The FSA are taking an unprecedented inquiry into HBOS and short selling, why? because it's bad for the comany and the economy...
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Heli_port,
it wont be just down to the FSA/BoE. The whole monetary system needs a re-think on a global scale, other wise we face this type of melt down every so often. That's where we come in, if we were to curb the fractional reserve banking system and alter the way debt is accounted for, that is likely to restrict economic growth, and ultimately our own wealth. The reason I say 'we' is because this type of thing needs to come from government, not the banking sector, so we, need to vote for a government that will do that, if that is what we want. It's been said by a number of prominent top experts that these events will happen. It really has nothing to do with the Sub Prime markets, that's just where it started, it could easily have sparked off in another area of the financial sector. It's the system itself and the amount of debt used to create wealth that is at the root. There is a lot of debt that now has to be paid off. The party is over, we have one hell of a hangover and 'hair of the dog' wont be any use.
it wont be just down to the FSA/BoE. The whole monetary system needs a re-think on a global scale, other wise we face this type of melt down every so often. That's where we come in, if we were to curb the fractional reserve banking system and alter the way debt is accounted for, that is likely to restrict economic growth, and ultimately our own wealth. The reason I say 'we' is because this type of thing needs to come from government, not the banking sector, so we, need to vote for a government that will do that, if that is what we want. It's been said by a number of prominent top experts that these events will happen. It really has nothing to do with the Sub Prime markets, that's just where it started, it could easily have sparked off in another area of the financial sector. It's the system itself and the amount of debt used to create wealth that is at the root. There is a lot of debt that now has to be paid off. The party is over, we have one hell of a hangover and 'hair of the dog' wont be any use.
While I agree about personal responsibility in terms of paying back large loans for houses,flying courses etc....I do think that these financial institutions could have shown more intelligence in how they lent money.Fairly obviously,this is the genesis of the current mess.For example,I would like to purchase my own learjet.I go to the bank and quite quickly they correctly deduce that I could not(ever!) afford it.Hence they do not lend me the money.Ludicrous example I agree,but I hope you get the point.
b/rgds
b/rgds
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No not AIG... I believe you will find it is concerns about balance sheet funding rather than direct exposure to AIG.... they have c£250bn more loans than deposits and they have to get that money in wholesale market which are barely open. BBC reporting they will be merged with Lloyds.
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Spinnaker:
AIG may have been instrumental with HBOS and many others fate but the fact remains short selling instills a lack of confidence in a company which can only be damaging, whether it comes from false rumours or a linked company such as AIG the result will not and can not be good.
Ok so the FSA called off their inquiry in August after it believed that in march illegal short selling was taking place. It had no proof of the rumours, but now the company is in free fall on it's own and is only being helped by traders short selling...The fact remains in order to short sell you borrow!!! borrow something you don't own and thus you are gambling something you don't own either...When it all goes wrong, who ends up paying for it?
Give hel_port his due , he's doing it for himself and making money out of it.. But if it all goes wrong for him, who's going to bail him out?! Maybe he has the capital to cover it?! I don't know.. but it's all a gamble and as we have seen making the markets very unstable...
As with all of life, one mans loss is another mans gain and this is no differnet..By the sounds of it Heli_port is gaining and good luck to him...
AIG may have been instrumental with HBOS and many others fate but the fact remains short selling instills a lack of confidence in a company which can only be damaging, whether it comes from false rumours or a linked company such as AIG the result will not and can not be good.
Ok so the FSA called off their inquiry in August after it believed that in march illegal short selling was taking place. It had no proof of the rumours, but now the company is in free fall on it's own and is only being helped by traders short selling...The fact remains in order to short sell you borrow!!! borrow something you don't own and thus you are gambling something you don't own either...When it all goes wrong, who ends up paying for it?
Give hel_port his due , he's doing it for himself and making money out of it.. But if it all goes wrong for him, who's going to bail him out?! Maybe he has the capital to cover it?! I don't know.. but it's all a gamble and as we have seen making the markets very unstable...
As with all of life, one mans loss is another mans gain and this is no differnet..By the sounds of it Heli_port is gaining and good luck to him...
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I wouldn't dispute short selling has been very damaging and that practice does need looking at. But what sparked it all off with this one particular bank? I'm not completely convinced the balance sheet is the whole story
Commentator on Radio 4 says that without the merger with LTSB HBOS could be at risk from a run on the bank. Now that's serious.
Commentator on Radio 4 says that without the merger with LTSB HBOS could be at risk from a run on the bank. Now that's serious.