rex Celebrating 20 Years
I think two things are at play here, one is cheap lease 737 availability and crewing. That's holding back any major ramp up in scheduling. The air travel world recovered from Covid way faster than anyone could predict and the carnage many said would happen in airlines going broke just didn't happen and therefore there's the opposite of a glut in airliners available. VA is just lucky they were able to get most of their fleet back before Rex snaffled them up, otherwise they would have been up the creek with no boats to paddle.
Is that a 5.1% rise from 2018 rates followed by a catch up payments when they deem themselves profitable which will be so far into the future that most current pilots will have left the company?
Rex deputy chairman John Sharp said in a statement “Rex, on the other hand, has offered its SAAB pilots a 5.1 per cent pay rise from 1 July 2022, plus significant catch-up payments worth another 8 per cent once the business is profitable again.”
Is that a 5.1% rise from 2018 rates followed by a catch up payments when they deem themselves profitable which will be so far into the future that most current pilots will have left the company?
Is that a 5.1% rise from 2018 rates followed by a catch up payments when they deem themselves profitable which will be so far into the future that most current pilots will have left the company?
Looks like a bit of a ****show of a day for Rex jet today. -RQG in for a "C" check and -RQP off the line for some reason. Cancellations all over the shop including the sole SYD-OOL and return flights of the day.
I meant the 5.1% + 8% is the pre PIA figure that the company had offered. What the pilots have voted in is much better, which is a compromise with extra days off and future CPI increases. Probably worth over 10% up front and then CPI adjustments for a number of years. Also some backpay in installments.
I meant the 5.1% + 8% is the pre PIA figure that the company had offered. What the pilots have voted in is much better, which is a compromise with extra days off and future CPI increases. Probably worth over 10% up front and then CPI adjustments for a number of years. Also some backpay in installments.
10% is still below CPI since 2018. They could have done a lot better. The company is very limited on crew currently. So much so I heard that whole bases could be wiped out in within weeks if Jetstar and Qantas take them.
I guess that makes sense why they are running a lot of routes via triangles at the moment. Seen Armidale go via Port, Dubbo via Parkes etc.
****show yesterday, worse today. Now looks like -PAG has joined -RQP and is also not flying. No SYD-OOL-SYD service yesterday, no MEL-CBR-MEL service today.
Rex have updated their profit guidance, only days after Qantas. Jets on track for profit while Saab operation is still loss making. They must have a good accountant!
If the Saabs aren't making money right now they will never make money again.
If the Saabs aren't making money right now they will never make money again.
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible
Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...
Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year
Good to see the jets making coin, as I predicted many time for November this year
EBITDAR stands for earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR). It's useful for businesses such as hotels, restaurants or casinos that have unique or variable rent costs
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible
Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...
Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year
Good to see the jets making coin, as I predicted many time for November this year
Interest, pretty sure they own their birds so nothing there
Tax, is only on profit
Depreciation, I would think the SAABs have depreciated as much as possible
Amortisation, see above
Restructuring, possibly, a lot of route changes lately
Rent, perhaps...
Can't see $1mil being thrown into the negative with other costs, unless they are carrying losses over from earlier in the year
Good to see the jets making coin, as I predicted many time for November this year