easyjet board for rough ride
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easyjet board for rough ride
An Extraordinary General Meeting is to be held by the easy board on 12 March. The purpose of the EGM is to convince shareholders to back the management endorsed decision to buy 120 airbus aircraft.
In the light of recent developments, I wonder if the board is in for a shock? Traditionally, when an airline reports a fall in bookings , the decision is made to reduce capacity, not increase it. So, with the share price now hovering just above the excercise price , a reduction in bookings, Ryanair unable to give away seats in a recent promotion, Gulf war looming, oil price rising with no hedging, why on earth does the easy board recommend a buy decision on airbus?The chief training captain has allegedly resigned his post , rumour has it, because airbus is not workable!The company are already having trouble just running two types of 737!!
If the share price hits 1.61( exercise price) RW will have to go
In the light of recent developments, I wonder if the board is in for a shock? Traditionally, when an airline reports a fall in bookings , the decision is made to reduce capacity, not increase it. So, with the share price now hovering just above the excercise price , a reduction in bookings, Ryanair unable to give away seats in a recent promotion, Gulf war looming, oil price rising with no hedging, why on earth does the easy board recommend a buy decision on airbus?The chief training captain has allegedly resigned his post , rumour has it, because airbus is not workable!The company are already having trouble just running two types of 737!!
If the share price hits 1.61( exercise price) RW will have to go
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pilotofjet,
are you doing anything else in your life other than complaining about easyJet. what you say is actually wrong :
"fall in bookings" : see http://uk.biz.yahoo.com/030307/80/duwe6.html
It would put things a bit more in perspective instead of your constant complain about your (look like to be) employer.
Why don't you go somwhere else... If it is so terrible...
Good luck.
are you doing anything else in your life other than complaining about easyJet. what you say is actually wrong :
"fall in bookings" : see http://uk.biz.yahoo.com/030307/80/duwe6.html
It would put things a bit more in perspective instead of your constant complain about your (look like to be) employer.
Why don't you go somwhere else... If it is so terrible...
Good luck.
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Er, Dudley,it's not about whinging about easyJet because in almost every respect he's right. The rumour about the resignation of the Chief Training Captain is true (heard it from him myself), yields are down (admitted by RW himself), the share price is crap (see todays London Stock Exchange) and although the war may be looming, hedging oil prices would definitely have been a good move or so it will have seemed by mid year if the price goes up rapidly.Additionally, the market is flooded at the momement with low cost carriers who can't fill the seats (hence the Daily Express seat giveaway) and easyJet cannot keep pilots to fly them anyway!
The city knows easyJet is decidedly unimpressive at the moment, which is all POJ is pointing out!
The city knows easyJet is decidedly unimpressive at the moment, which is all POJ is pointing out!
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Mixed news, all depends on what you read and how you look at it.
http://www.reuters.co.uk/newsArticle...toryID=2341729
P.S Sorry about the BA add which pops up when you try and read the link.
http://www.reuters.co.uk/newsArticle...toryID=2341729
P.S Sorry about the BA add which pops up when you try and read the link.
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Global issues aside, easyJet is where it is because the merger needs to be seen to be completed and will be with the start of the summer schedule this month, a decision on DBA needs to be made and the introduction of the Airbus needs to get underway. Sure the City is watching, uncertainty will mark us down somewhat for the time being. Competition was always coming and that is no surprise to anyone at easyJet, RDW was speaking about that matter over 4 years ago and his predictions were spot on.
PilotofJet your wrote:
'The chief training captain has allegedly resigned his post , rumour has it, because airbus is not workable!The company are already having trouble just running two types of 737'
What? Airbus not workable? of course the Airbus is workable and at a dam good price with it. And just to remind you we've been flying the -300/-700 very sucessfully for the past 2 years.
PilotofJet your wrote:
'The chief training captain has allegedly resigned his post , rumour has it, because airbus is not workable!The company are already having trouble just running two types of 737'
What? Airbus not workable? of course the Airbus is workable and at a dam good price with it. And just to remind you we've been flying the -300/-700 very sucessfully for the past 2 years.
Last edited by no sig; 8th Mar 2003 at 16:21.
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Actually, No Sig, what the Chief Training Captain meant was that at up to 4 aircraft a month on occasion, the delivery schedule is totally unworkable as far as the Training program allows, and with the current shortage of drivers, the "promised" lifestyle improvemnts will never occur. It is going to be the summer of hell this year, make no mistake and as usual, it is because we cannot take our foot off the pedal long enough to see how fast we are going!! Ring me if you wish to discuss it!
no sig:
It's disingenuous for you to suggest that PLB has taken the decision he has because the merger "didn't suit him", you know very well that is not the case! Why didn't he go last July?
I shall refrain from airing the dirty washing on a public forum, but I'll just say that I'm personally very sad that such a likeable and able person as PLB felt that he couldn't do what has been asked of him - the question is, who can?
As regards your comment "of course the Airbus is workable", I hope you aren't forced to eat your words, because the Airbus is the least of our problems at the moment!
It's disingenuous for you to suggest that PLB has taken the decision he has because the merger "didn't suit him", you know very well that is not the case! Why didn't he go last July?
I shall refrain from airing the dirty washing on a public forum, but I'll just say that I'm personally very sad that such a likeable and able person as PLB felt that he couldn't do what has been asked of him - the question is, who can?
As regards your comment "of course the Airbus is workable", I hope you aren't forced to eat your words, because the Airbus is the least of our problems at the moment!
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Rocket Ron
Steady on, I was making comment on pilotofjet's post regarding the alleged reasons for the CTC's going. As the able and capable person I agree he, I can't see any reason why it can't work, so why would he chose that course of action otherwise? But lets not discuss it further.
You are obviously closer than I am and perhaps know something I don't, in which case I'll retract my comment and if an apology is in order consider it made as I've clearly offended.
Steady on, I was making comment on pilotofjet's post regarding the alleged reasons for the CTC's going. As the able and capable person I agree he, I can't see any reason why it can't work, so why would he chose that course of action otherwise? But lets not discuss it further.
You are obviously closer than I am and perhaps know something I don't, in which case I'll retract my comment and if an apology is in order consider it made as I've clearly offended.
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Airbus Intro
On the contrary Springbok,
They seem to have learned from that experience and are using the Swiss base to launch and learn, before giving the 319 to the rest of the fleet.
As the Swiss happen to have an extremely competent Tech. Pilot I can envisage most snags being sorted before the bus hits the main fleet.
They seem to have learned from that experience and are using the Swiss base to launch and learn, before giving the 319 to the rest of the fleet.
As the Swiss happen to have an extremely competent Tech. Pilot I can envisage most snags being sorted before the bus hits the main fleet.
The Swiss may well be being used to shake down aspects of the Airbus arrival at Easy, but do not under estimate the disruption it will cause to the UK operation.
From mid Summer large numbers of UK pilots and Cabin crew will have to be skimmed off UK staffing levels to cover for those doing the Airbus conversion. This will last for at least 6 months. The 700 coversion took barely a week before pilots could fly the line again and we are all aware of how short 700 pilots were, not to mention the rostering headache it caused with aircraft swops and non rated pilots on stby.
The airbus introduction is going to put enormous strain on the company at almost peak season and it looks like our now Ex Chief Trg Capt did not like what he saw in the crystal ball.
From mid Summer large numbers of UK pilots and Cabin crew will have to be skimmed off UK staffing levels to cover for those doing the Airbus conversion. This will last for at least 6 months. The 700 coversion took barely a week before pilots could fly the line again and we are all aware of how short 700 pilots were, not to mention the rostering headache it caused with aircraft swops and non rated pilots on stby.
The airbus introduction is going to put enormous strain on the company at almost peak season and it looks like our now Ex Chief Trg Capt did not like what he saw in the crystal ball.
Last edited by Airbrake; 9th Mar 2003 at 16:27.
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No Sig,
Yes for once I do agree that EZY are doing it the right way by introducing the Bus to GVA first however the unrealistic delivery schedule promised by the Toulouse company for the UK operations won't go together with the chaotic way of operating and organising proven in the past by the LTN Lalaland...
Yes for once I do agree that EZY are doing it the right way by introducing the Bus to GVA first however the unrealistic delivery schedule promised by the Toulouse company for the UK operations won't go together with the chaotic way of operating and organising proven in the past by the LTN Lalaland...
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Dudley
How am I wingheing about easyjet?All I am doing is reporting what is going on at the airline. There are no lies in what I write.As regards leaving, those of us here actually hope the airline might be turning the corner, and if you are actually an airline pilot, you will know of the ramifications of going to the bottom of a seniority list elsewhere.
Nosig
how can you say the introduction of the 700 has been a success. Are you based in an outstation and fly only the 300?It has been a complete shambles ,not only for dual rated pilots, but 300 or 700 only rated guys, crewing, rostering et al. Throw into the equation airbus and extra cabin crew and all hell is going to break loose. In fact I think we are breaking a cardinal rule of lo cost ops.ONE AIRCRAFT TYPE.
How am I wingheing about easyjet?All I am doing is reporting what is going on at the airline. There are no lies in what I write.As regards leaving, those of us here actually hope the airline might be turning the corner, and if you are actually an airline pilot, you will know of the ramifications of going to the bottom of a seniority list elsewhere.
Nosig
how can you say the introduction of the 700 has been a success. Are you based in an outstation and fly only the 300?It has been a complete shambles ,not only for dual rated pilots, but 300 or 700 only rated guys, crewing, rostering et al. Throw into the equation airbus and extra cabin crew and all hell is going to break loose. In fact I think we are breaking a cardinal rule of lo cost ops.ONE AIRCRAFT TYPE.
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pilotofjet,
You state EZY are breaking a cardinal rule of "lo cost ops" by moving away from 1 aircraft type. However, if a manufacturer offers a type which is assessed as being far more suitable, and at a much lower cost, then blindly following this 'logic' is not necessarily the right thing to do. Should EZY just stick to 737's forever, based on this 'rule'?
However, it is obviously going to be a real challenge, and they've got to get the crew numbers right, and the training programme slick, in order to deal with that rate of deliveries. Hopefully they'll build enough slack in the system to cope with this training requirement!
You state EZY are breaking a cardinal rule of "lo cost ops" by moving away from 1 aircraft type. However, if a manufacturer offers a type which is assessed as being far more suitable, and at a much lower cost, then blindly following this 'logic' is not necessarily the right thing to do. Should EZY just stick to 737's forever, based on this 'rule'?
However, it is obviously going to be a real challenge, and they've got to get the crew numbers right, and the training programme slick, in order to deal with that rate of deliveries. Hopefully they'll build enough slack in the system to cope with this training requirement!
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in trim
the flyaway price of the airbus was obviously very cheap. The CEO of boeing stated at the time he had a duty to shareholders and would not offer Boeings at ridiculous prices.Airbus offered a deal that seemed to good to be true,... and it probably is. The TOTAL cost of acquiring Airbus is going to far exceed the extra it would have cost to buy Boeing. RW also has a duty to shareholders of easyJet stock , and shareholders are pretty soon going to be asking him what he intends to do about the share price. Maybe this EGM is going to be the occasion.
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From my brief insight into the easyJet empire, the co. is more than capable of dealing with short, medium and long term problems. It is lean and mean and will continue to shame more established operators with profit and passenger figures.Whether the detractors like it or not, they are here to stay, big time.
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I turn up at Luton at the required time, fly a -300 or -700, and nearly always finish before the advertised time and go home. No drama, shambles, wingeing or moaning. And then at the end of the month I get paid ; no drama, shambles, wingeing or moaning.
Pretty much what they said the job would be like. Not bad really.
Pretty much what they said the job would be like. Not bad really.
