Industrial Action at Flybe?
Joined: Oct 2007
Posts: 132
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From: At the whim of crewing
Share price 25% down? This doesn't bode at all well for the shareholders in the company.
The report makes for some interesting reading, however I'm not entirely convinced that the points made in this report fully correspond to the report made in February.
Basically, the question that I would like to ask is... How strong is the financial position of the company actually?
I would like to know if what has been presented so far has been glossed over and "sexed up" a bit, and this is an actual reflection of the conditions? Or vice versa.
I'm going to go through the report quite closely this evening, as I have bugger all else to do (for a welcome change!)
The report makes for some interesting reading, however I'm not entirely convinced that the points made in this report fully correspond to the report made in February.
Basically, the question that I would like to ask is... How strong is the financial position of the company actually?
I would like to know if what has been presented so far has been glossed over and "sexed up" a bit, and this is an actual reflection of the conditions? Or vice versa.
I'm going to go through the report quite closely this evening, as I have bugger all else to do (for a welcome change!)
Joined: Jan 2006
Posts: 103
Likes: 0
From: Bandit Country
Is this for real?
Hearing from a few extremly angry friends north of the border, that ur lot are openly by-passing seniority etc and replacing dash's with Bhx/Man crewed Embraers. Anybody care to shed any light on this? What's your company council doing about it? Another stake in the heart for you guys!!
T
T
Joined: May 2011
Posts: 986
Likes: 3
From: IOM
Flybe | Corporate | Investors | Investors home - the graph tells it all.
This isn't viable anymore - some serious changes needed at flyby. Stupid of them buying all those new planes.
This isn't viable anymore - some serious changes needed at flyby. Stupid of them buying all those new planes.
Joined: Nov 2010
Posts: 25
Likes: 3
From: England
It's not just about making a profit - it's making the most of the available resources and achieving a balance to work for the shareholders and the customers
It's a PLC and therefore only about the shareholders. Capitalism works as the shareholders interest normally aligns with that of the customers and LT business success.
However shareholders are always top of the tree
Joined: May 2009
Posts: 113
Likes: 0
From: South East
Investors in Flybe are not looking to make 'a quick buck' they are looking long term. Therefore the company MUST expand and expand lot's, at the moment Flybe has 35 jet's soon to arrive and no published plan....There's not even any rumours on any such plan which leads us all to believe that they DONT have one.
Ps Striking staff not good long or short term, Investors will soon be very angry with Mr R8 and his wealthy cronies
Ps Striking staff not good long or short term, Investors will soon be very angry with Mr R8 and his wealthy cronies
Joined: Mar 2001
Posts: 256
Likes: 4
From: South of the Watford Gap, East of Portland
Here you go, guys.....
'Some 10,000 workers will get a pay rise of around 10% over two years and some will get extra shift payments during the games, in the joint RMT-TSSA deal.'
...and I think thee was mention of a one-off payment of £500 to bide the poor dears over.
Needless to say, not negotiated by BALPA but by dear old Mr Crowe, Boris's mate.
'Some 10,000 workers will get a pay rise of around 10% over two years and some will get extra shift payments during the games, in the joint RMT-TSSA deal.'
...and I think thee was mention of a one-off payment of £500 to bide the poor dears over.
Needless to say, not negotiated by BALPA but by dear old Mr Crowe, Boris's mate.
PPRuNe Secret Agent!
Moderator
Joined: Nov 1999
Posts: 1,547
Likes: 0
From: West Sussex, UK
From Business Travel Market Magazine:
After the euphoria of a London floatation at the end of last year, which saw £66m raised at an offer price of 295p, Flybe investors are now staring at a paper loss with the shares standing at 176p as the London Stock Exchange closed on Friday evening.
Late last week the airline suggested that profits for the year until 31 March would be around £20m as against the previous 12 months’ £36m. Full figures will be available in June. The airline would not comment on rumours that it might dispose of some aircraft noting that all airlines are constantly re-assessing the number of aeroplanes required.
The carrier is the leader in the UK domestic market with 27% of total passengers from which it derives 85% of its total income.
To put matters in perspective IAG, owner of British Airways and Iberia, cut first-quarter losses by 83% to €47m (£42m) pre-tax. Shares stood at £254, a 16% increase since the beginning of the year.
Flybe derives 85% of revenue from the UK and is trying to reduce its dependence on its home market by expanding further into continental Europe.
Late last week the airline suggested that profits for the year until 31 March would be around £20m as against the previous 12 months’ £36m. Full figures will be available in June. The airline would not comment on rumours that it might dispose of some aircraft noting that all airlines are constantly re-assessing the number of aeroplanes required.
The carrier is the leader in the UK domestic market with 27% of total passengers from which it derives 85% of its total income.
To put matters in perspective IAG, owner of British Airways and Iberia, cut first-quarter losses by 83% to €47m (£42m) pre-tax. Shares stood at £254, a 16% increase since the beginning of the year.
Flybe derives 85% of revenue from the UK and is trying to reduce its dependence on its home market by expanding further into continental Europe.
Joined: Apr 2007
Posts: 251
Likes: 0
From: Here, there, everywhere
The interesting thing about this stage is that ACAS is an arbitration process only, just because they say or suggest something doesnt mean it has to be accepted.
Additionally, Uncle Jim will have to justify how the pay offer to us is fair when the directors pay increased by the margin it did, and in a year of a supposed pay freeze. Remember, all employee groups accepted a pay freeze in 09 but the average company salary of some 3000 employees increased by 3%.
We now have the best paid Directors in the industry, with bottom rung salaries for those on the front line. Such disparity is expected of a Mom and Pop operations, not Europes biggest regional carrier.
This volatile mix and disgruntled workforce isn't working Jim. 45% drop in share price... Let's get this sorted and get back to the coal face.
As an aside, if we kept our existing agreement on scheduling and simply divvied up the supposed "cost" of improvements between the flight deck we'd end up better off by well in excess of £2000 a piece. I think I know what I'd rather have!
Additionally, Uncle Jim will have to justify how the pay offer to us is fair when the directors pay increased by the margin it did, and in a year of a supposed pay freeze. Remember, all employee groups accepted a pay freeze in 09 but the average company salary of some 3000 employees increased by 3%.
We now have the best paid Directors in the industry, with bottom rung salaries for those on the front line. Such disparity is expected of a Mom and Pop operations, not Europes biggest regional carrier.
This volatile mix and disgruntled workforce isn't working Jim. 45% drop in share price... Let's get this sorted and get back to the coal face.
As an aside, if we kept our existing agreement on scheduling and simply divvied up the supposed "cost" of improvements between the flight deck we'd end up better off by well in excess of £2000 a piece. I think I know what I'd rather have!
Joined: May 2009
Posts: 113
Likes: 0
From: South East
Joined: Mar 2001
Posts: 256
Likes: 4
From: South of the Watford Gap, East of Portland
Arbitration through ACAS is a two-way thing. The company may want it but you (throught BALPA) are under no obligation to comply and unless yoour BALPA reps have already agreed to the comany's request to go to arbitration, you can politely tell them to stuff it.
Don't be bamboozled by your management.
Don't be bamboozled by your management.
Joined: Jul 2006
Posts: 113
Likes: 0
From: the dust
It had better be. I was getting ready for my UDO's - Union days off!
If the upshot of this is that we're recommended the same old !!!! we were offered before the latest sexes up pack of lies came out I doubt anyone will vote in the upcoming CC elections. Lashings of hot spoilt ballot papers methinks.
If the upshot of this is that we're recommended the same old !!!! we were offered before the latest sexes up pack of lies came out I doubt anyone will vote in the upcoming CC elections. Lashings of hot spoilt ballot papers methinks.
Joined: May 2009
Posts: 113
Likes: 0
From: South East
I'm seeing some weak attitudes from the CC over on the balpa forum, time for us to man up, the feeling of hatred, yes hatred from pilots towards Flybe is escalating. I've not spoken to a happy employee for months now...
Aer Lingus pilots ballot for industrial action - RT News
Aer Lingus pilots ballot for industrial action - RT News