NetJets Furloughing?
06-12-2009, 05:16 AM
#31
Line Holder
Joined APC: May 2009
Position: CE680
Posts: 53
I guess Avantair never counts on these forums, since we have props on our plane, but we may soon be the only Frac to not furlough!
And, I'm really not rejoicing, I don't wish that fate on anyone at NJ, but I'm happy to be a part of an operation that looks like it will sail thru these tough times!
(Word is that we're having a new-hire class in Sept, as well)
PS: Pretty sweet offer by NJ mgmt, classy way to deal with a bummer situation!
And, I'm really not rejoicing, I don't wish that fate on anyone at NJ, but I'm happy to be a part of an operation that looks like it will sail thru these tough times!
(Word is that we're having a new-hire class in Sept, as well)
PS: Pretty sweet offer by NJ mgmt, classy way to deal with a bummer situation!
06-14-2009, 01:21 AM
#32
Gets Weekends Off
Joined APC: Jul 2008
Posts: 4,920
Originally Posted by BIRDIE
yes.. great for avantair. All the gripes and anger aside, many companies are doing just fine. And no, I don't work for Avantair. I work for one of those other companies who are still buying airplanes and don't need to reduce at all..in fact, yes we are hiring..
06-14-2009, 10:08 AM
#33
Gets Weekends Off
Joined APC: Jul 2008
Posts: 1,235
Originally Posted by HIREME
Hate to hear the terrible news guys. Best of luck!
06-15-2009, 03:17 AM
#34
Line Holder
Thread Starter
Joined APC: Jun 2009
Posts: 56
Lewis Campbell, CEO Textron, says he expects 150 order cancellations. Wonder if these are the Netjets orders. Isn't Buffett expected to make some big announcement this week regarding NJ's?
Aero-News Network: The Aviation and Aerospace World's Daily/Real-Time News and Information Service
Aero-News Network: The Aviation and Aerospace World's Daily/Real-Time News and Information Service
06-15-2009, 04:41 PM
#36
Line Holder
Thread Starter
Joined APC: Jun 2009
Posts: 56
Originally Posted by DWS1
This is the first I've heard of anything regarding an anticipated statement from Buffet.
Where did you hear this?
Where did you hear this?
NetJets’ Cessna order in doubt
By Susanna Ray
Bloomberg News
Providence-based Textron Inc. said Monday that Warren Buffett’s NetJets Inc. may cancel orders for business jets as the recession hurts corporate profits and executives reduce travel.
Textron’s Cessna aircraft division will see “well over” 150 orders dropped in the second quarter, chief executive officer Lewis Campbell said at the Electrical Products Group conference in Longboat Key, Fla.
The cancellations may include purchase agreements from “big customers like NetJets and others” and 70 to 80 orders for the new Columbus model, on which the plane maker suspended work last month, Campbell said.
“We have encouraged big customers, if they want to make a cut, let’s get it out of the way and get it behind us,” he said in comments broadcast on the Internet.
The global recession, credit crunch and negative publicity about corporate jet use during the slump all have contributed to a drop in demand that has prompted Cessna to cut production by more than a third. The jet market historically lags behind the corporate profit cycle by about eight quarters, Campbell said.
Textron rose 52 cents, or 4.6 percent, to $11.93 in New York Stock Exchange composite trading. The shares have fallen 14 percent this year.
NetJets sells time-shares in private planes to corporate customers. The Berkshire Hathaway Inc. unit’s European head said in February that the economic crisis would boost business as executives favored fractional ownership to buying their own jets. Still, Dublin-based drug maker Elan Corp., whose stock has lost 70 percent in 12 months, switched to commercial transportation this year rather than renewing its NetJets contract amid an investor-led campaign to save money. Maryann Aarseth, a NetJets spokeswoman, said she wasn’t immediately able to comment on whether the company has dropped orders.
06-16-2009, 03:40 PM
#38
Line Holder
Joined APC: May 2008
Posts: 54
Originally Posted by FL510
NetJets’ Cessna order in doubt
By Susanna Ray
Bloomberg News
Providence-based Textron Inc. said Monday that Warren Buffett’s NetJets Inc. may cancel orders for business jets as the recession hurts corporate profits and executives reduce travel.
Textron’s Cessna aircraft division will see “well over” 150 orders dropped in the second quarter, chief executive officer Lewis Campbell said at the Electrical Products Group conference in Longboat Key, Fla.
The cancellations may include purchase agreements from “big customers like NetJets and others” and 70 to 80 orders for the new Columbus model, on which the plane maker suspended work last month, Campbell said.
“We have encouraged big customers, if they want to make a cut, let’s get it out of the way and get it behind us,” he said in comments broadcast on the Internet.
The global recession, credit crunch and negative publicity about corporate jet use during the slump all have contributed to a drop in demand that has prompted Cessna to cut production by more than a third. The jet market historically lags behind the corporate profit cycle by about eight quarters, Campbell said.
Textron rose 52 cents, or 4.6 percent, to $11.93 in New York Stock Exchange composite trading. The shares have fallen 14 percent this year.
NetJets sells time-shares in private planes to corporate customers. The Berkshire Hathaway Inc. unit’s European head said in February that the economic crisis would boost business as executives favored fractional ownership to buying their own jets. Still, Dublin-based drug maker Elan Corp., whose stock has lost 70 percent in 12 months, switched to commercial transportation this year rather than renewing its NetJets contract amid an investor-led campaign to save money. Maryann Aarseth, a NetJets spokeswoman, said she wasn’t immediately able to comment on whether the company has dropped orders.
By Susanna Ray
Bloomberg News
Providence-based Textron Inc. said Monday that Warren Buffett’s NetJets Inc. may cancel orders for business jets as the recession hurts corporate profits and executives reduce travel.
Textron’s Cessna aircraft division will see “well over” 150 orders dropped in the second quarter, chief executive officer Lewis Campbell said at the Electrical Products Group conference in Longboat Key, Fla.
The cancellations may include purchase agreements from “big customers like NetJets and others” and 70 to 80 orders for the new Columbus model, on which the plane maker suspended work last month, Campbell said.
“We have encouraged big customers, if they want to make a cut, let’s get it out of the way and get it behind us,” he said in comments broadcast on the Internet.
The global recession, credit crunch and negative publicity about corporate jet use during the slump all have contributed to a drop in demand that has prompted Cessna to cut production by more than a third. The jet market historically lags behind the corporate profit cycle by about eight quarters, Campbell said.
Textron rose 52 cents, or 4.6 percent, to $11.93 in New York Stock Exchange composite trading. The shares have fallen 14 percent this year.
NetJets sells time-shares in private planes to corporate customers. The Berkshire Hathaway Inc. unit’s European head said in February that the economic crisis would boost business as executives favored fractional ownership to buying their own jets. Still, Dublin-based drug maker Elan Corp., whose stock has lost 70 percent in 12 months, switched to commercial transportation this year rather than renewing its NetJets contract amid an investor-led campaign to save money. Maryann Aarseth, a NetJets spokeswoman, said she wasn’t immediately able to comment on whether the company has dropped orders.
06-18-2009, 04:28 AM
#39
Gets Weekends Off
Joined APC: Jan 2009
Position: 737 Left
Posts: 1,825
I would still love to work for NJ
In and amongst everything I have seen over the past few years, the way NJ has handled the furlough issue is just another reason why I want to work for NetJets. Everything I have read or heard about NetJets leads me to believe it is probably the best jet job in aviation. I have family with 121's and have seen it from the inside. I don't know of any large aviation company that treats their pilots better. I wish nothing but the best for NJ and those pilot's affected by the current economy.
Thread
Thread Starter
Forum
Replies
Last Post
