[Breeze] Airways
#3911
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The financials simply will not support huge raises. Breeze is burning cash. Avelo on the other hand has a very modest cash burn and should be profitable by summer. They would have already turned a profit had jet fuel not increased substantially. It appears their pilot strategy at Breeze is low pay and hire pilots with absolute minimum qualifications.
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#3912
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Not really. Management just told us this week we should be profitable by the end of the year, and if not, certainly by next year. There will be a pay raise effective April 1st. Question is are they serious about it. This is definitely a place to stay if the pay is right.
This raise will be the make or break decision for me. Anything less than JetBlue rates and there is a very big chance I’ll be dusting off my CRJ type or finding the highest bidder for my shiny new E190 type. It’s time to see who really needs a captains to cover their summer flying.
#3913
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Not only this but the company has chosen the route of staffing the airline by hiring CFIs so that at least they’ll show up. That’s great and all but the problem is they’re coming in with zero experience to be flying E190s, A220s and doing charters. It means the Captains are about to be left with not only dealing with operational complicities but will also have to babysit their fellow pilot next to them indefinitely. It better be a huge pay raise or I can see big instability in the Captain ranks.
#3914
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This raise will be the make or break decision for me. Anything less than JetBlue rates and there is a very big chance I’ll be dusting off my CRJ type or finding the highest bidder for my shiny new E190 type. It’s time to see who really needs a captains to cover their summer flying.
#3916
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The problem with this model is not the babysitting. I can coach and mentor a cfi whose willing to learn all day. The problem is that these CFI’s won’t be anywhere close to upgrading for another 2 years. Breeze will have to match B6 pay (highly unlikely) to attract DEC’s or they won’t be able to grow for lack of captains.
#3917
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“The climb out has not been without bumps, however. Airline industry news website Enilria.com pored over Breeze’s Transportation Department filings, and its report did not paint a pretty financial picture. Enilria says the filings show a negative 110% margin with a $37.9 million loss on $34.5 million revenues and $72.3 million in expenses in the third quarter of 2022.
“The revenue is staggeringly low,” Enilria wrties. “It cost Breeze $2.10 in expenses for every $1 of revenue. They have an Everest-sized mountain to climb by comparison, based on their own financial reporting.” Enilria also notes that “Breeze’s fuel bill alone has used up 60% of all their revenue in [the first three quarters of] 2022.”
#3918
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If Breeze needs pilots they will pay market rates and have decent work rules. The problem is they currently are a financial train wreck. Avelo is right on the cusp of turning a profit with a low cash burn. Breeze needs to double ticket prices to break even. The question is can the Kneelman effect con investors into another round of equity investment.
“The climb out has not been without bumps, however. Airline industry news website Enilria.com pored over Breeze’s Transportation Department filings, and its report did not paint a pretty financial picture. Enilria says the filings show a negative 110% margin with a $37.9 million loss on $34.5 million revenues and $72.3 million in expenses in the third quarter of 2022.
“The revenue is staggeringly low,” Enilria wrties. “It cost Breeze $2.10 in expenses for every $1 of revenue. They have an Everest-sized mountain to climb by comparison, based on their own financial reporting.” Enilria also notes that “Breeze’s fuel bill alone has used up 60% of all their revenue in [the first three quarters of] 2022.”
“The climb out has not been without bumps, however. Airline industry news website Enilria.com pored over Breeze’s Transportation Department filings, and its report did not paint a pretty financial picture. Enilria says the filings show a negative 110% margin with a $37.9 million loss on $34.5 million revenues and $72.3 million in expenses in the third quarter of 2022.
“The revenue is staggeringly low,” Enilria wrties. “It cost Breeze $2.10 in expenses for every $1 of revenue. They have an Everest-sized mountain to climb by comparison, based on their own financial reporting.” Enilria also notes that “Breeze’s fuel bill alone has used up 60% of all their revenue in [the first three quarters of] 2022.”
#3919
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That article does not represent an accurate picture of the actual financials. It does paint a picture of the financials at that time last year where the dynamics were very different for the operation. Those numbers are based on having pilots waiting on A220s not flying, and other very important factors which are pointless to get into. If you’re really concerned about breeze, all you need to know is that they told us we should be profitable by the end of the year and definitely by next year.
#3920
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IKR, what manager has ever said: "suggest you get your apps out, this place is a mess". It's always rainbows with pots of gold within reach, until it starts raining.....
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01-01-2022 05:02 PM