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EasyJet 'hanging by a thread', says union official

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EasyJet 'hanging by a thread', says union official

Old 26th Sep 2020, 05:10
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EasyJet 'hanging by a thread', says union official

https://www.bbc.co.uk/news/business-54303379
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Old 26th Sep 2020, 06:56
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It was a figure of speech and a sales pitch in order to convince pilots that the negotiated deal between the business and BALPA would be accepted. Thatís probably all. But letís start a multi page thread on PPRuNe about it...
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Old 26th Sep 2020, 07:06
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The Free Press will be our undoing. Meanwhile, happy days in China.
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Old 26th Sep 2020, 07:20
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Not helpful for future bookings
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Old 26th Sep 2020, 07:24
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I understand half their cash reserves have gone ?

If easy canít survive with their scale thereís not much hope for the rest
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Old 26th Sep 2020, 07:58
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So... I suppose the question here is: is easyjet hanging by a thread or is it standard policy for BALPA to lie to its members?
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Old 26th Sep 2020, 08:21
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Boeing 7E7

As a paying customer who has kept faith with the airlines and left my money in them partially to help keep the staff's jobs so that they are still there when I can travel again, I hope that this does get a bit of exposure here if only to make people in other airlines realise that making statements like this as a figure of speech in a sales pitch or publicising them is tantamount to shooting yourself in both feet at once and then jumping in a shark infested sea. Don't do stupid things!!
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Old 26th Sep 2020, 08:28
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Not quite as heard

just saved 1,000 pilot jobs by going part time.

if it was that bad the company would not have agreed to the deal, it would have been redundancies.


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Old 26th Sep 2020, 09:14
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I hope that this does get a bit of exposure here if only to make people in other airlines realise that making statements like this as a figure of speech in a sales pitch or publicising them is tantamount to shooting yourself in both feet at once and then jumping in a shark infested sea. Don't do stupid things!!
The same applies to the individual who recorded a confidential discussion and leaked it to the press.

The recording comes from the presentation, which was given by the union officials to their members as part of a process to encourage them to take up the airline's offer of part-time working in order to save jobs.
However his presentation to fellow pilots at Easyjet, which was recorded and leaked to the BBC, is a pitch.
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Old 26th Sep 2020, 09:19
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I've heard this and he sounded pretty genuine but who knows.... he said they're even selling planes and leasing them back to get cash.

Don't think he leaked it, I have no connection to Easy and I was sent it by a J2 Pilot, think it went far and wide before the media got hold of it.
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Old 26th Sep 2020, 09:58
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Easyjet, like Ryanair, is a public company listed on the stock market so anyone with accountant skills can find out how their balance sheet looks like. Just google Easyjet Investor Relations and find a friend that works as an accountant.
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Old 26th Sep 2020, 11:27
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I am an easyjet frequent flyer and admit the headline made me a little nervous about future bookings. However when you read the rest of what he said it makes perfect sense and had the desired effect (if I understand correctly) of encouraging people to job share/ go part time to try and save jobs.
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Old 26th Sep 2020, 13:35
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I was sent this recording and it made fairly depressing listening. However, I suspect that had I been privy to a similar briefing from the Union reps of any other airline in Europe (or further afield) the general gist would have been pretty much the same. In a nutshell, we're burning cash. we've sold the family silver, we've touched all available credit, if something doesn't change next year, we're screwed. It ain't just Easy hanging by a thread.
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Old 26th Sep 2020, 13:40
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Given the media speculation perhaps a RNS may land on Monday morning.
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Old 26th Sep 2020, 13:50
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Such headlines have the potential of smashing up whatever is left of consumer confidence. The present situation combining shambolic and unpredictable government policy changes and bombastic headlines left, right and center makes flying look like Russian roulette. When, apart from being at risk of having your flight cancelled or being sent into quarantine, you're also faced with the risk of the airline going bust by the time of your trip, it takes a huge deal of determination and a bit of denial to take any non-essential trip. The average traveller will not delve into the fact that hardly any private airline will survive unless this mess is sorted by next summer. The words "hanging by a thread" is all they need to see.
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Old 26th Sep 2020, 13:55
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The way some governments are handling the pandemic and no real coordination in aviation yet, I do not see this getting any better quickly.
I even think that a general moratorium on all debt should be considered. Other wise when banks start calling in all debt the wealth will move into a very few hands.
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Old 26th Sep 2020, 16:51
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Seems as though they are fighting back before the markets warm up on Monday, although I suspect this recording was known about in the city a few days ago, judging by the trajectory of easy shares last week.
https://uk.finance.yahoo.com/news/ea...134403998.html
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Old 26th Sep 2020, 16:59
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Why would you want to leak that info, unless you wanted to damage the airline? Tabloids will pick this up, next thing, you have a Monarch, Thomas Cook and Flybe threatening as customer confidence is shattered.
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Old 26th Sep 2020, 17:47
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1+F

Well that sounds fairly crazed. Why should airline problems simply be off-loaded onto other shoulders ?

How do you regard banks as " a few hands " ? What difference is there to all this debt ( money ) being in the hands of a few whoare running airlines ?
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Old 26th Sep 2020, 22:19
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Buster the Bear

All true, but a change of sentiment drives the share price down and people make money out of that. Just as they did with all the airlines you mention, whether there really is a problem is neither here nor there for the money people.
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