Growing Evidence That The Upturn Is Upon Us
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It ertainly was a surprise to everyone in the City - it is an indication of their flexibility, but is means that many of those dodgy assets have no floor price whatsoever now.
If this was a supprise to everyone in the city it probably explains why we are in such deep s
hit. I've been waiting for the announcement for the last few weeks.
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Sorry, I don't see how the financial crisis is affecting pilot job prospects.
The main reason for the crisis in the aviation sector and the failure of multiple airlines is the high fuel prices.
High fuel prices are why Skybus failed, high fuel prices are why Frontier is under Ch.11, high fuel prices are why most major US airlines cut capacity, high fuel prices are why Ryanair and Southwest will not be making profits this year, high fuel prices are why Lufthansa and Singapore's profits are down, etc...
There's people who have predicted this fall in oil prices in this period.
The only way the financial crisis is going to affect trainees is when they try to secure loans. The times when a pass at a selection test would guarrantee you a loan with HSBC are over.
Rightly so, there is nothing more irresponsible than to sign up on 7 year loans at over 1000 pounds a months without the prospect of a job.
Imagine you find a job straight out of school, putting aside the potential for an additional 30k for type-rating and supposing that this is an imaginary perfect world where banks don't charge you interest until you start working, if you borrow 50k and pay off 1000 pounds a month, the nice present you will offer to the bank under the beautiful name of "interests" during the first year on the job is a beautiful 7% or 3.5k, or over 2 months worth of hard work.
Year 2 that present goes down to 2.9K, still worth about 2 months of hard work. Year 3: 2.2K Year 4: 1.6K, etc...
All-in-all, in the real world, you'll end up working over a year for interests only and 3 to 4 years for your training expenses. Put that on your job application, there's no better way to prove that you are motivated!!
Bad judgement in day to day life reflects potential for bad decision making in the day to day job environment.
The main reason for the crisis in the aviation sector and the failure of multiple airlines is the high fuel prices.
High fuel prices are why Skybus failed, high fuel prices are why Frontier is under Ch.11, high fuel prices are why most major US airlines cut capacity, high fuel prices are why Ryanair and Southwest will not be making profits this year, high fuel prices are why Lufthansa and Singapore's profits are down, etc...
GENEVA, Sept 3 (Reuters) - The global airline industry is set to post losses of $5.2 billion this year and $4.1 billion in 2009 as a result of oil prices, the International Air Transport Association (IATA) said on Wednesday.
Nov 3-The year 2009 will bring a dose of optimism to major U.S. airline carriers due to the effects of lower oil prices, falling domestic capacity and revenue-per-available-seat-mile growth, senior analyst Michael Derchin with FTN Midwest Securities Corp. said Monday.
The only way the financial crisis is going to affect trainees is when they try to secure loans. The times when a pass at a selection test would guarrantee you a loan with HSBC are over.
Rightly so, there is nothing more irresponsible than to sign up on 7 year loans at over 1000 pounds a months without the prospect of a job.
Imagine you find a job straight out of school, putting aside the potential for an additional 30k for type-rating and supposing that this is an imaginary perfect world where banks don't charge you interest until you start working, if you borrow 50k and pay off 1000 pounds a month, the nice present you will offer to the bank under the beautiful name of "interests" during the first year on the job is a beautiful 7% or 3.5k, or over 2 months worth of hard work.
Year 2 that present goes down to 2.9K, still worth about 2 months of hard work. Year 3: 2.2K Year 4: 1.6K, etc...
All-in-all, in the real world, you'll end up working over a year for interests only and 3 to 4 years for your training expenses. Put that on your job application, there's no better way to prove that you are motivated!!
Bad judgement in day to day life reflects potential for bad decision making in the day to day job environment.
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Re-Heat
Thanks for the summary.
Deflation or the threat of it, will start to be a real issue over the next 6 months or so. Falling prices will or are as a result of falling demand rather than the benefit of improved production performance. The fall in demand is primarily caused be the failure to keep increasing the money supply to power that demand. It soon becomes a spiral, wages get cut, people hold off from buying, because tomorrow whatever it is, will be cheaper, demand falls, jobs go to the wall. Who would buy a house today (unless you are desperate) when it's going to be cheaper next week. Repeat that across the whole economy. The solution is usually to cut interest rates, taxes and increase public spending, but only if that does not increase the debt. Hard to see how that would not happen.
Thanks for the summary.
Deflation or the threat of it, will start to be a real issue over the next 6 months or so. Falling prices will or are as a result of falling demand rather than the benefit of improved production performance. The fall in demand is primarily caused be the failure to keep increasing the money supply to power that demand. It soon becomes a spiral, wages get cut, people hold off from buying, because tomorrow whatever it is, will be cheaper, demand falls, jobs go to the wall. Who would buy a house today (unless you are desperate) when it's going to be cheaper next week. Repeat that across the whole economy. The solution is usually to cut interest rates, taxes and increase public spending, but only if that does not increase the debt. Hard to see how that would not happen.
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Sorry, I don't see how the financial crisis is affecting pilot job prospects.
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Flydreamliner, pilot job prospects ARE going to be affected.
Did you read the post above about DHL?? Several airlines in Europe have gone bust recently dumping a lot of experienced guys on the market. Airlines that have recently merged laying crews off. Others stopping recruitment altogether. As pax/cargo numbers fall off (due to customer/business sentiment from the crisis), coupled with fuel bills (depending on hedging) rising airlines, are flying less. Only operating profitable flights. Therefore there is less demand for crews, those crews are working harder (900hrs), more experienced crews on the market for jobs!! How can this not affect job prospects??
Unless I have missed something I would have thought there will be a big impact on job prospects!!
Did you read the post above about DHL?? Several airlines in Europe have gone bust recently dumping a lot of experienced guys on the market. Airlines that have recently merged laying crews off. Others stopping recruitment altogether. As pax/cargo numbers fall off (due to customer/business sentiment from the crisis), coupled with fuel bills (depending on hedging) rising airlines, are flying less. Only operating profitable flights. Therefore there is less demand for crews, those crews are working harder (900hrs), more experienced crews on the market for jobs!! How can this not affect job prospects??
Unless I have missed something I would have thought there will be a big impact on job prospects!!
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Join Date: Jun 2008
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Yes indeed, and if it pans out that way, I for one would be very happy.
I suppose the only question is can something as large as a national economy "bounce back" so quickly in the face of what's happening right now both nationally and internationally? Has anyone else's ever done that?
(actually, I take some of that back, we are talking 18 months here, aren't we?)
The "related articles" on the left hand side of the page make for more depressing reading!
I'm still on for a WWW/ Green shoots of recovery post sweepstake. Anyone? No?
JR
I suppose the only question is can something as large as a national economy "bounce back" so quickly in the face of what's happening right now both nationally and internationally? Has anyone else's ever done that?
(actually, I take some of that back, we are talking 18 months here, aren't we?)
The "related articles" on the left hand side of the page make for more depressing reading!
I'm still on for a WWW/ Green shoots of recovery post sweepstake. Anyone? No?
JR
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Originally Posted by FlyDreamliner
Sorry, I don't see how the financial crisis is affecting pilot job prospects.
In the last recession the Government/BoE were spinning about green shoots of recovery way before anyone else could see them. I would remind people that those that now predict a short recession were the same ones that 6 months ago said no recession, 12 months ago said it was a slowing of growth and 18 months ago saw no looming problem whatsoever..
The recession will be of similar proportion as the period of falling house prices and lag it but be similar in duration. Houses have fallen for 13 months, at the fastest rate since 1932 and show no signs of stopping falling. If that is an accurate proxy for recession then expect it to be sharp, deep and long.
WWW
The recession will be of similar proportion as the period of falling house prices and lag it but be similar in duration. Houses have fallen for 13 months, at the fastest rate since 1932 and show no signs of stopping falling. If that is an accurate proxy for recession then expect it to be sharp, deep and long.
WWW
Any Questions?
WWW
WWW
This crash is FAR MORE SEVERE than the 1991 crash. The recession that will follow will be FAR MORE SEVERE. You would be an IDIOT not to think that the impact on an industry which has expanded at break neck speed for the past decade would be FAR MORE SEVERE than last time this happened.
Did you get the bit about being FAR MORE SEVERE?
The situation for Wannabes is HOPELESS.
Great big flashing neon lights HOPELESS.
STOP STOP STOP.
WWW
Did you get the bit about being FAR MORE SEVERE?
The situation for Wannabes is HOPELESS.
Great big flashing neon lights HOPELESS.
STOP STOP STOP.
WWW
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Originally Posted by WWW
The situation for Wannabes is HOPELESS.
Great big flashing neon lights HOPELESS.
STOP STOP STOP.
Great big flashing neon lights HOPELESS.
STOP STOP STOP.
A universtity candidate studying for any degree is never ensured a job at the end of it, and they too get into debts of almost 30k. Work is hard to find in any industry at this moment in time. Lets all just stop and stick to being nobodies. Thats going to get this countries people far. We'll just have to get more imigrants in then.
Its our dream. We want to be in this. We'll get to that point of 'qualified' and then face the struggle.
But I'd rather be quailified and in debt with a chance of doing my dream job than just sat on my arse dreaming.
I think I'll get some finances now before it goes even more tits up and get myself qualified in time for the up turn thanks.
How about drop the LESS and keep the HOPE.