Wizzair

[samatyranin]

But dont compare LH to WZZ on their profit only. LH has twice as many airplanes than Wizz. And yes, even doubling their profit would net them for around 600 millions which is still way less than LH profit. But it is more complex. Thing is that due to their low operating cost (one type of airplanes, less spare parts, lower cost of training and so on) lowcosts can get better as per passenger than others.

But yes I totally agree that their need for new pilots will be limited greatly during next few months or even years.

[Newcomer2]

Not 6 months for Wizzair, but 18 months worth of cash (1,5 billions)

You Tube

[duffman96]

Originally Posted by Banana Joe

Something has been posted in the Middle East Forum... Not an impressive offer indeed.

Do you have a link to this forum or could you please post more details about the offer?

[duffman96]

Does anyone have more details on the Abu Dhabi pay?

[BarryMG]

Yup, 6 months was a calculation based on 100% operation and expense, 0% income... Since it's operating maybe 10% of capacity, a lot of costs went down, and an airline can survive much longer in that state.

[samatyranin]

yeah, those 6 months were in case they stop any operations but looks like Jozsef Varadi and some other at Wizz watched Bear Grylls and they know how to Improvise. Adapt. Overcome. :]

[giggitygiggity]

Originally Posted by BarryMG

Yup, 6 months was a calculation based on 100% operation and expense, 0% income... Since it's operating maybe 10% of capacity, a lot of costs went down, and an airline can survive much longer in that state.

They can of course survive longer than if they were running at full capacity with zero revenue, but surely Wizz's planes are mortgaged (financed) like everyone else? There are repayments to be made on those mortgages, surely it's not a matter of no flights - no cost?!

[iandy912i]

the leaser is actually a big share-holder in wizz, so i think lease payments have been negotiated already

[Banana Joe]

Strong rumours circulating that today's announcement will be about 1000 job losses, 265 of which will be pilots.
I hope this will remain a rumour.

[dirk85]

The press release is out, not a rumour anymore unfortunately.

[Banana Joe]

Very sad news. Could you post the link to the press release? I can't find it.

[A329apu]

What are the performance criteria for being layed off?

[bairni]

"Redundancies of one thousand people, salary cuts, machine withdrawals at Wizz Air"

[Rottweiler22]

Originally Posted by A329apu

What are the performance criteria for being layed off?

Often last in, first out. Or if they decide to close bases, all of the people at that particular base. Some bases may be untouched.

Additionally, of course those who are vocally critical of the company, those with poor sickness records, troublemakers, and those struggling or causing problems in training make very easy targets for redundancy.

They can use it as a bit of “spring clean” to rid the company of things and people they don’t want...

[dirk85]

Originally Posted by Banana Joe

Very sad news. Could you post the link to the press release? I can't find it.

http://ir1.q4europe.com/IR/Files/RNS...r_14664669.pdf

[dirk85]

Originally Posted by A329apu

What are the performance criteria for being layed off?

Without a union present, they can do whatever they want. Troublemakers and people with poor disciplinary record will be the first ones to go.

[hid3]

Having worked in companies (not aviation industry) facing redundancies due to one or other reasons, some of them first tried to get rid of employees whose salaries were highest in that segment.

[samatyranin]

I think that as mentioned in their statement - they will reduce salaries for almost everybody at wizz + release most problematic individuals. It will help them to stay on surface for longer than they could expect. Thats normal in that case. I've heard from one of their pilots that many refused to actually take those trips to china for medical supplies. Guess who's gonna be fired in first place.

[dirk85]

It was almost only management pilots to do those trips, look at the media coverage, if you had worked in the company you would have recognized most of those faces in the interviews

[samca]

True. 265 pilots out. I think most of not all floaters and also CONFAIR contracts.
A week ago we went to conquered America, expand the company, they send us to apply WIZZ Abu Dhabi, we were the stronger company in the Universe, we had more liquity than any other competitor and suddenly today we loose our jobs. And is not for saving the company that for sure