Sky Europe no salaries ? true or false ?
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Sky Europe late salaries ? true or false ?
According to ppjn.com "flight crews not paid for 3 months"
IF THIS IS true, at what stage do you become bankrupt, I always thought it was when you couldn't pay your bills.
Doesn't the salary of your employees come under the category of "bills" ?
Christmas is the time for charity, but perhaps working for free for 3 months is a little like believing in the guy with the red coat.
Personally I sincerely hope what is posted on ppjn is NOT true, the job market doesn't really need another load of Boeing drivers dumped on it, not to mention all the other poor folk that work for them. Perhaps someone can confirm or preferably lay this one to rest.
IF THIS IS true, at what stage do you become bankrupt, I always thought it was when you couldn't pay your bills.
Doesn't the salary of your employees come under the category of "bills" ?
Christmas is the time for charity, but perhaps working for free for 3 months is a little like believing in the guy with the red coat.
Personally I sincerely hope what is posted on ppjn is NOT true, the job market doesn't really need another load of Boeing drivers dumped on it, not to mention all the other poor folk that work for them. Perhaps someone can confirm or preferably lay this one to rest.
Last edited by captplaystation; 25th Dec 2008 at 21:25.
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I know this is true for Air Slovakia, but not for Sky.
Last month they got their salaries, delayed.
Fact is that Sky never made a profit and this year lost 60 million euro!
let's hope for the best for them.
Last month they got their salaries, delayed.
Fact is that Sky never made a profit and this year lost 60 million euro!
let's hope for the best for them.
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Unfortunately it is true. They own sallaries for the last two months. The only great thing is the spirit of the crews stil flying for free, hoping to help getting the Company out of trouble that way. It seems to be sad Christmass this year for the Sky employees.
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October salaries in the pipeline, will be in bank accounts starting tomorrow,November salaries to follow very shortly.
Seems Skyeurope is here to last longer that many in this website expected
The crews kept the airline flying while management was busy getting the appropriate funding.
Thats CRM
I hope this will show the negative posters in pprune that SKYEUROPE team is up and alive!!!!
I am looking forward to giving our passengers more safe and enjoyable flights for many years to come.
Seems Skyeurope is here to last longer that many in this website expected
The crews kept the airline flying while management was busy getting the appropriate funding.
Thats CRM
I hope this will show the negative posters in pprune that SKYEUROPE team is up and alive!!!!
I am looking forward to giving our passengers more safe and enjoyable flights for many years to come.
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what may I say , is that some low costs will have, in the coming months ,to be aware, because in this winter some of them will be collapsed.....rumours say sky europe have 200 millions euros to pay to debtors,wizz air will merged with my air , as klm and air france did some years ago.....also, etihad focused on air berlin.....so, my dear friends, regardeless of low cost or traditional air carriers, all have 70% the same costs, I mean fuel,maintenance, taxes,salaries, mortgages for airplanes etc.....so......I wish to all out there good luck , and a merry christmas !
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According to wikipedia, losses for the last 5 yrs (in millions of euros ) were
2004 10 / 2005 29 /2006 57 / 2007 24 / 2008 59, so yes "only" 179 not 200.
It also states liabilities exceed assets by 54%.
How to make a small fortune in aviation ? . . . start off with an exceedingly large one.
I wish you all the luck you need to get through to Springtime, truly, best wishes.
2004 10 / 2005 29 /2006 57 / 2007 24 / 2008 59, so yes "only" 179 not 200.
It also states liabilities exceed assets by 54%.
How to make a small fortune in aviation ? . . . start off with an exceedingly large one.
I wish you all the luck you need to get through to Springtime, truly, best wishes.
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Maybe not IF someone chose & was able to write off the debt, but neither are good.
Yes, but Austrian are/were a national flag carrier & we all know they are like zombies, the living dead fed blood by whatever nation supports them, Jeez look at Alitalia. . . . so regretably even if they deserve to vanish & you to survive that isn't always the way it plays out.
My advice to anyone in Sky would be to look at other options, just in case, but I know there isn't much out there, particularly if you are at home & happy there.
I do really wish you well, but keep your eyes open and don't do too much work for free, or you could find yourself starting job hunting already 2 or 3 months in debt.
Yes, but Austrian are/were a national flag carrier & we all know they are like zombies, the living dead fed blood by whatever nation supports them, Jeez look at Alitalia. . . . so regretably even if they deserve to vanish & you to survive that isn't always the way it plays out.
My advice to anyone in Sky would be to look at other options, just in case, but I know there isn't much out there, particularly if you are at home & happy there.
I do really wish you well, but keep your eyes open and don't do too much work for free, or you could find yourself starting job hunting already 2 or 3 months in debt.
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Well, I'm pretty sure that any investor willing to put a couple more millions into SkyEurope at this time will have some vague idea of what he is doing... not necessarily, of course, but probably.
At the moment there is not much else to choose from for SkyEuropeans anyway. As for the "flying for free": The company needs everyone to cooperate now. If people were to refuse to work at this stage, then you probably couldn't blame them for it, but it would mean the sure end of everything.
The best that can be done now, is to keep working hard and hoping for a christmas-miracle. The worst that can happen is, you work for free for yet another month or two, instead of losing your job straight away.
Keep going, SkyEurope!
At the moment there is not much else to choose from for SkyEuropeans anyway. As for the "flying for free": The company needs everyone to cooperate now. If people were to refuse to work at this stage, then you probably couldn't blame them for it, but it would mean the sure end of everything.
The best that can be done now, is to keep working hard and hoping for a christmas-miracle. The worst that can happen is, you work for free for yet another month or two, instead of losing your job straight away.
Keep going, SkyEurope!
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Wizz air will merged with my air , as klm and air france did some years ago.....
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carmoisine,
air france and klm, merged to consolidate their position among big air carriers not only in europe, but in the world wide....it is true we cannot compare these air carriers with wizz or myair, but the meaning is the same, boy, to build up their position, among low cost carriers in central and eastern europe, because they are coming hard times in the airline industry.......good night !
air france and klm, merged to consolidate their position among big air carriers not only in europe, but in the world wide....it is true we cannot compare these air carriers with wizz or myair, but the meaning is the same, boy, to build up their position, among low cost carriers in central and eastern europe, because they are coming hard times in the airline industry.......good night !
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Regarding captplaystation accounting.
The amount stated is total liabilities. Not counting total assets, which stand at 113 mio EUR. According to official preliminary report in September 2008. Yes there is a deficit (debt not covered by assets) of 60 mio EUR. But this does not take into account the "non-material" assets. Which?
I do not know another airline with such a fanatic following of customers. All voting Skyeurope the best E.Europe airline in "Skytrax" and praying that it keeps flying. To every airline there are postive and negative comments. Where are the negative reports for Skyeurope? Maybe 5% of the total? I wouldn't give them more.
One good and wise man, like M.O'Leary, has predicted in June that Skyeurope will be out in "a couple of weeks". He also painted 2 years ago, one of his planes with his "bye bye Skyeurope" wish. And Skyeurope still refuses to go bust? What a nerve!
Since then (summer 2008) despite the obvious downturn of the industry in whole, a couple of investors have each loaned the company 10 mio EUR. And not only them. Others loaned the company too. The airports, caterers etc. Maybe the personell? But yes! Maybe the customers? But yes, them too had loaned the company with 25 mio EUR (till September 2008, to fly one year from now).
Investors, providers, personell, customers, what is driving them to give away money?
Could World War III break out in the next few months? I belive not, so I bought myself a new car! Could Sky go bust in the next few months? Investors, providers, personell, customers think not, so they loan money!
That's only poor M.O'Leary against a lot of rich fools. Or there is a "non-material" asset, not shown in the balance sheet, which is collateral to all those loans. Carefully built year upon year. This is called "customer-personell loyalty". Which is quantifiable and can be priced-in.
The amount stated is total liabilities. Not counting total assets, which stand at 113 mio EUR. According to official preliminary report in September 2008. Yes there is a deficit (debt not covered by assets) of 60 mio EUR. But this does not take into account the "non-material" assets. Which?
I do not know another airline with such a fanatic following of customers. All voting Skyeurope the best E.Europe airline in "Skytrax" and praying that it keeps flying. To every airline there are postive and negative comments. Where are the negative reports for Skyeurope? Maybe 5% of the total? I wouldn't give them more.
One good and wise man, like M.O'Leary, has predicted in June that Skyeurope will be out in "a couple of weeks". He also painted 2 years ago, one of his planes with his "bye bye Skyeurope" wish. And Skyeurope still refuses to go bust? What a nerve!
Since then (summer 2008) despite the obvious downturn of the industry in whole, a couple of investors have each loaned the company 10 mio EUR. And not only them. Others loaned the company too. The airports, caterers etc. Maybe the personell? But yes! Maybe the customers? But yes, them too had loaned the company with 25 mio EUR (till September 2008, to fly one year from now).
Investors, providers, personell, customers, what is driving them to give away money?
Could World War III break out in the next few months? I belive not, so I bought myself a new car! Could Sky go bust in the next few months? Investors, providers, personell, customers think not, so they loan money!
That's only poor M.O'Leary against a lot of rich fools. Or there is a "non-material" asset, not shown in the balance sheet, which is collateral to all those loans. Carefully built year upon year. This is called "customer-personell loyalty". Which is quantifiable and can be priced-in.
Last edited by PeterPaul; 24th Dec 2008 at 02:13.
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Mr. Nasty.
Agreed. I too wish the worst for O'Leary. No humanity in that individual. It may take time, but his lucky run will end.
Public damnation of your competitors (Bye, Bye, Sky Europe) is morally not defensible.
Moderator, please modify the title of this thread. If not true, it could be conceived as public bashing of an operating company from a planted adversary.
Public damnation of your competitors (Bye, Bye, Sky Europe) is morally not defensible.
Moderator, please modify the title of this thread. If not true, it could be conceived as public bashing of an operating company from a planted adversary.
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It wasn't started to bash anyone, which is why I phrased the title as a question. The information about non payment of salaries was gleaned from another source (ppjn.com) and indeed has been confirmed by several sources on here who I assume work for Sky ( they have belatedly been paid, but it was very late ,see post No 6)
Whilst I am impressed with their dedication to their company, I think it is fair, and of interest to a wider audience to know, that a company is surviving through late payment, whether it be salaries, aircraft leases or whatever.
I have no axe to grind here. Whilst the demise of Sky may indeed have a small beneficial effect on any other carrier, the dumping of more pilots on the market is of far more personal concern to me I assure you.
Anyone flying one of these mobile billboards is equally embarassed by what is writ large on the sides I can assure you, most of us don't really get that style of humour either.
As I have said a couple of times already, I wish you all well in Sky Europe, and hope for better times next year for all of us.
Whilst I am impressed with their dedication to their company, I think it is fair, and of interest to a wider audience to know, that a company is surviving through late payment, whether it be salaries, aircraft leases or whatever.
I have no axe to grind here. Whilst the demise of Sky may indeed have a small beneficial effect on any other carrier, the dumping of more pilots on the market is of far more personal concern to me I assure you.
Anyone flying one of these mobile billboards is equally embarassed by what is writ large on the sides I can assure you, most of us don't really get that style of humour either.
As I have said a couple of times already, I wish you all well in Sky Europe, and hope for better times next year for all of us.