MinRest

That flying will come back as demand comes back. We are already seeing the restoration of mainline schedules. I think the people that spend 25-30k a year flying first class, still aren't going to come up with the 100-200k to snatch a share of even the smallest fractional ownership aircraft, to do their flying. There might be some, but again, 2001 was based on fear, there really is none of that in this case.

senecacaptain

My post was not individuals or "people" paying for Frax shares. It was companies, for their employees. business related travel, not leisure.

Das Auto

Do the math based in what you just said vs what I said. 30k a year per person to fly 1st class multiplied by 6 is $180,000

100 - 200k to fly private? No covid, no brainer.

OnTheMeridian

It seems anytime you have something that negatively impacts the airlines, sales increase at the frax and charter. This is no different. At least at NJ, there's been a massive increase in card sales. Yes, those are for very limited hours, however, the cards are where NJ gains many sales from. Convincing people to upgrade to a share after they've experienced the product while using a card creates a sizable portion of the share sales. No, I don't foresee 'explosive' growth at Netjets as things reopen, but we're definitely looking at a bump in growth from this pandemic.

I just read that the wealthy in this country increased their wealth by over half a trillion dollars during the pandemic. Not sure if that's from dumping a bunch of money into the markets when they bottomed or what, but someone always makes money on these things. The bump in wealth combined with reduced airline schedules (they'll come back, but I think it's going to be quite a while before they return to pre-pandemic levels) and health concerns will push people to travel on private aircraft.

Operations in Europe are a different matter, mostly because I don't foresee the economy over there recovering as quickly as ours. But these things are a bit hard to predict. Now, should there be a second wave of this virus in the fall, all bets are off.

MinRest

Yea if it was a no brainer, demand wouldn’t show it. NJA ownership sales are down, and they aren’t even at 50% flying demand of where they should be. This mass influx to flying private isn’t materializing.

Das Auto

Whatever dude. About the same time my company is recalling all pilots back from reduced schedule with plans to resume hiring, the majors have thousands of displacements with imminent furloughs. Until there's a proven vaccine, those that can afford to fly private, will.
Best guesses are 12 months until we see anything close to that.

MinRest

Yea, except they aren't. Flex literally had to pay its pilots on IOU's almost IMMEDIATELY until their government bailout came. NJA is at 50% of where it was in terms of demand. So again, I understand your emotional response, but hopes and dreams do not make for reality. This isn't a competition btw, I don't want to see anyone on the street. The truth is, you have no idea how your company is doing financially right now, you really don't. You may make it, you may not, and I am in the same boat.

If your statement about those "who could afford to fly private, will." That would be a great statement if that were happening right now. Your current owners aren't flying right now in the capacity that they did prior. Again, there isn't an uptick. Demand isn't up, it's down.

Das Auto

Disclaimer, I don't work for FlexJet.

Joebob21

Planes, we fly planes. 🤪