Flexjet going public….
04-12-2023 | 01:38 PM
#11
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Joined: Sep 2012
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From: Pilot
04-12-2023 | 05:39 PM
#12
Gets Weekends Off
Joined: Jan 2023
Posts: 196
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From: B737 FO
04-12-2023 | 08:14 PM
#13
Gets Weekends Off
Joined: Dec 2017
Posts: 2,014
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From: Retired NJA & AA
Well it didn't sound good but I don't think Flexjet is in any imminent danger. Keep in mind one of the good things about NetJets is you have Uncle Warren and Berkshire Hathaway standing behind the company. That gives a lot of security to our owners as to the safety of their aircraft shares. When that Piaggio 180 Fractional Avantair went belly up the owners only got around 10 cents on the dollar back on their shares. With BH owning NetJets that won't happen.
04-12-2023 | 08:57 PM
#14
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Joined: Aug 2018
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I think its better for the employees. Once you become public, you are beholden to Wall Street. I could EASILY see Wall Street saying "ummm having them charge their dinners to a company card is expensive, why not just pay them a $65/day perdiem and be done with" CLEARLY management sees the QOL (which, QOL should not include income) advantage of telling crews "Enjoy dinner" I will also say, cost wise, they may be breaking even but the fact I can go out 1 night and put a really nice steak in the compnay, even thought e other few nights of my rotation, I just want something quick and it probably is a break even in the long run, Wall Street does not look at it that way. Just like I dont support a Union (because I feel FJ has treated us well), I dont want Wall Street saying what should/should not be done.
04-12-2023 | 09:00 PM
#15
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Joined: Aug 2018
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I havent heard of anything like that happening so I will believe it when I see it. I think its a GENIUS business move. There is no greater cost in this industry then repeated Initial Training slots when pilot leave after 1-2years. This gives the a REALLY good reason to stay around and $18k is WAY better than the 30-40k they spen on a new hite.
04-13-2023 | 01:31 PM
#16
On Reserve
Joined: Sep 2022
Posts: 81
Likes: 3
kool aid
I havent heard of anything like that happening so I will believe it when I see it. I think its a GENIUS business move. There is no greater cost in this industry then repeated Initial Training slots when pilot leave after 1-2years. This gives the a REALLY good reason to stay around and $18k is WAY better than the 30-40k they spen on a new hite.
04-13-2023 | 03:21 PM
#17
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Joined: Aug 2018
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Respectfully - I think that's a bit on the kool-aid side. I don't think the 18k 3 years in arrears to a 401k is going to do squat for retention here. There's a lot of positives here, but the pay and retirement relative to the airlines in a hiring wave is still in the realm of delusion.
04-13-2023 | 03:46 PM
#18
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Joined: Apr 2016
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Are you a Flex employee? Becasue you clearly dont understand how it works. Its the employees option whether its added to a 401k or taken as a cash payout. I first year FO making 105k is now making $123k if they are still on property in 3 years. That is pretty good pay and doesnt take into acount the other bonuses.
04-13-2023 | 04:00 PM
#19
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Joined: Sep 2022
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Are you a Flex employee? Becasue you clearly dont understand how it works. Its the employees option whether its added to a 401k or taken as a cash payout. I first year FO making 105k is now making $123k if they are still on property in 3 years. That is pretty good pay and doesnt take into acount the other bonuses.
I hear what you're saying. There's good perks here and ways to make money. It doesn't change my mind that this is an insignificant change re: attrition during major airline hiring. There are a few key areas where they can't/won't compete with living in base with a major airline. No biggie. Life goes on
Hopefully they keep working on it - company has a lot of good things going for it. If I'm wrong, dinner is on me.
04-13-2023 | 04:22 PM
#20
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Joined: Oct 2016
Posts: 299
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Are you a Flex employee? Becasue you clearly dont understand how it works. Its the employees option whether its added to a 401k or taken as a cash payout. I first year FO making 105k is now making $123k if they are still on property in 3 years. That is pretty good pay and doesnt take into acount the other bonuses.
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