Gambling on XJT and their future
08-08-2008, 09:14 PM
#111
Gets Weekends Off
Joined APC: Mar 2005
Posts: 1,943
Originally Posted by ToiletDuck
Keep in mind the fable of the oak and willow tree.
08-09-2008, 09:15 AM
#112
Gets Weekends Off
Joined APC: Feb 2007
Position: e190
Posts: 929
We have probably the best contract out there. Hourly pay is a horrible way to judge one airline vs another when the work rules are what really makes the money. Most of us at xjt came here because of the contract and because we could earn more then at other regionals. We dont want to work at mesa, tsa, or skw.
When our management was "forced" to sign this contract with CAL and make us THE CHEAPEST emb-145 and 50 seat operator in the world they knew they would need that 35 million cost reduction. If we get the cost reduction from pilots, mechanics, and flight attendants the other regional management groups will soon follow suit. Everyones management will come on bended knee to their work groups with the same BS story "we were forced to take this contract or else airline ::insert name:: would cancel our flying!"
No pilot should support XJT pilots in taking a paycut. If we do take that pay cut it is sending a message that the flying can get done this cheaply. If i was at CHQ and these paycuts go through i would get very uncomfortable. Your contract with CAL is not that iron clad and CAL now has a cheaper alternative that you could not match unless you too took a pay cut.
When our management was "forced" to sign this contract with CAL and make us THE CHEAPEST emb-145 and 50 seat operator in the world they knew they would need that 35 million cost reduction. If we get the cost reduction from pilots, mechanics, and flight attendants the other regional management groups will soon follow suit. Everyones management will come on bended knee to their work groups with the same BS story "we were forced to take this contract or else airline ::insert name:: would cancel our flying!"
No pilot should support XJT pilots in taking a paycut. If we do take that pay cut it is sending a message that the flying can get done this cheaply. If i was at CHQ and these paycuts go through i would get very uncomfortable. Your contract with CAL is not that iron clad and CAL now has a cheaper alternative that you could not match unless you too took a pay cut.
08-09-2008, 09:26 AM
#113
Gets Weekends Off
Joined APC: Apr 2006
Posts: 193
Originally Posted by BrandedPilot
We saw how well "negotiating" online worked for us during Skywest's attempt to buy us out. I am not negotiating for a single XJT pilot, however the following is promised:
Personally, I am prepared to quit as soon as a pay reduction is finalized. The vast majority of the work group is of the same opinion, discussions do not favor pay reductions and/or benefit reductions. This is not an empty promise on my part, as I signed pre employment paperwork this afternoon as a "just in case" proposal. In all likelihood I will join my new employer anyway - 5 to 7 years at $35K isn't rational/reasonable income.
...and ALPA's 401K stunt has gone over like a turd in the punchbowl. Too bad, as XJT has been a superior experience with a great management and pilot relationship.
Personally, I am prepared to quit as soon as a pay reduction is finalized. The vast majority of the work group is of the same opinion, discussions do not favor pay reductions and/or benefit reductions. This is not an empty promise on my part, as I signed pre employment paperwork this afternoon as a "just in case" proposal. In all likelihood I will join my new employer anyway - 5 to 7 years at $35K isn't rational/reasonable income.
...and ALPA's 401K stunt has gone over like a turd in the punchbowl. Too bad, as XJT has been a superior experience with a great management and pilot relationship.
08-11-2008, 02:14 PM
#114
Banned
Joined APC: Dec 2007
Position: EMB 145 CPT
Posts: 2,934
ExpressJet Reports July 2008 Performance HOUSTON, Aug. 11 /PRNewswire/ -- ExpressJet Holdings (NYSE: XJT) today announced traffic and capacity results for July 2008 for its ExpressJet Airlines subsidiary. The results include statistics for both contract and branded operations. The contract operation consists of flying for Continental Airlines and Delta Air Lines under capacity purchase agreements and ExpressJet's charter (corporate aviation) service. The branded operation includes flying under the ExpressJet name and pro-rate flying for Delta Air Lines.
Contract Flying
During the month, ExpressJet revenue passenger miles (RPM) under contract flying totaled 775 million, and available seat miles (ASM) flown were 991 million. ExpressJet's July load factor was 78.2%. The company flew 65,732 block hours and operated 34,545 departures during the month.
Branded Flying
During the month, ExpressJet branded RPMs totaled 196 million on 241 million ASMs, resulting in a July load factor of 81.3%. The company flew 13,848 block hours and operated 7,323 departures during the month. The average stage length in the branded operation was 660 miles.
ExpressJet - Investor Relations - Press Releases
Contract Flying
During the month, ExpressJet revenue passenger miles (RPM) under contract flying totaled 775 million, and available seat miles (ASM) flown were 991 million. ExpressJet's July load factor was 78.2%. The company flew 65,732 block hours and operated 34,545 departures during the month.
Branded Flying
During the month, ExpressJet branded RPMs totaled 196 million on 241 million ASMs, resulting in a July load factor of 81.3%. The company flew 13,848 block hours and operated 7,323 departures during the month. The average stage length in the branded operation was 660 miles.
ExpressJet - Investor Relations - Press Releases
08-11-2008, 08:43 PM
#115
Gets Weekends Off
Joined APC: Feb 2007
Position: e190
Posts: 929
Originally Posted by Nevets
Branded Flying
During the month, ExpressJet branded RPMs totaled 196 million on 241 million ASMs, resulting in a July load factor of 81.3%. The company flew 13,848 block hours and operated 7,323 departures during the month. The average stage length in the branded operation was 660 miles.
ExpressJet - Investor Relations - Press Releases
During the month, ExpressJet branded RPMs totaled 196 million on 241 million ASMs, resulting in a July load factor of 81.3%. The company flew 13,848 block hours and operated 7,323 departures during the month. The average stage length in the branded operation was 660 miles.
ExpressJet - Investor Relations - Press Releases
08-11-2008, 10:02 PM
#116
Line Holder
Joined APC: Aug 2008
Position: EMB145XR; 1931 WACO QCF-2
Posts: 71
Sad to see it.... I met a fairly new Mesa FO today.
He was sooooo happy to be a Mesa FO (making shiit money with terrible work rules) and just proved to me that when a number of us quit ExpressJet due to pay cuts, there will be no shortage of guys who take the job for less pay and go on into the world BLINDED to the injustice they have just promoted.
Our management made a deal with CAL, but the check is going to bounce. Some new CFI/EARU grad/etc better not walk in behind us and carry that debt on his own savings account.
He was sooooo happy to be a Mesa FO (making shiit money with terrible work rules) and just proved to me that when a number of us quit ExpressJet due to pay cuts, there will be no shortage of guys who take the job for less pay and go on into the world BLINDED to the injustice they have just promoted.
Our management made a deal with CAL, but the check is going to bounce. Some new CFI/EARU grad/etc better not walk in behind us and carry that debt on his own savings account.
08-14-2008, 12:01 PM
#117
New Hire
Joined APC: Aug 2008
Posts: 1
I on board with this.
I cannot see anything less than a ride to the top.Unfortunatley if im wrong im going to pay because I unloaded a ton of cash here.
Originally Posted by JetJock16
Yes it a gamble but here’s what I’m thinking.
There are many reasons for XJT underperforming stock but here are a few:
a. XJT just announced the closing of Branded.
b. They’ve announced the termination of their DelConn
c. They’ve announced future furloughs
d. They’re stock is at it's lowest price mainly due to the above 3 facts plus fuel and the US$.
e. They will be returning several a/c to their leasers and transferring others back to CAL ops.
f. They must spend a large amount of money reorganizing their fleet and closing down operations.
Why I am willing to take the risk:
a. Their future looks strong after they reorganize.
b. Yes they are losing money but that will shortly come to an end.
c. They have a good Mgmnt team.
d. They have well above average labor groups who believe in their company and are willing to go the extra mile in order to survive.
e. They are not going bankrupt unless CAL renigs on their new 7 year CPA.
f. Another investor could purchase the company which would drive the stock price up considerably.
g. With MFN Clause now gone they have the opportunity, yes down the road, to bid on new flying.
Therefore I felt very comfortable when I bought (for a conservative investor) a rather large amount of their stock yesterday at $.361 per share (to date this investment is the 2nd largest stock investment I made, 1st largest was when I bought 1500 shares in Sherwin-Williams Co. back in the early 2000’s for around $15/share............... $$$$$$$$$$ paid off HUGE after it split and settled a little above todays price). I think that XJT has a very strong future ahead of them and even though their stock is currently doing poorly, I feel that over time it will start to reflect a price more in line with the company’s actual future stability.
Only time will tell but for now I’m very pleased with my investment and I wish all XJT employees well. Keep up the good work.
Would any XJT pilots or investors care add on?
BTW, I didn’t invest more than I am willing to lose, that’s just the way I gamble.
There are many reasons for XJT underperforming stock but here are a few:
a. XJT just announced the closing of Branded.
b. They’ve announced the termination of their DelConn
c. They’ve announced future furloughs
d. They’re stock is at it's lowest price mainly due to the above 3 facts plus fuel and the US$.
e. They will be returning several a/c to their leasers and transferring others back to CAL ops.
f. They must spend a large amount of money reorganizing their fleet and closing down operations.
Why I am willing to take the risk:
a. Their future looks strong after they reorganize.
b. Yes they are losing money but that will shortly come to an end.
c. They have a good Mgmnt team.
d. They have well above average labor groups who believe in their company and are willing to go the extra mile in order to survive.
e. They are not going bankrupt unless CAL renigs on their new 7 year CPA.
f. Another investor could purchase the company which would drive the stock price up considerably.
g. With MFN Clause now gone they have the opportunity, yes down the road, to bid on new flying.
Therefore I felt very comfortable when I bought (for a conservative investor) a rather large amount of their stock yesterday at $.361 per share (to date this investment is the 2nd largest stock investment I made, 1st largest was when I bought 1500 shares in Sherwin-Williams Co. back in the early 2000’s for around $15/share............... $$$$$$$$$$ paid off HUGE after it split and settled a little above todays price). I think that XJT has a very strong future ahead of them and even though their stock is currently doing poorly, I feel that over time it will start to reflect a price more in line with the company’s actual future stability.
Only time will tell but for now I’m very pleased with my investment and I wish all XJT employees well. Keep up the good work.
Would any XJT pilots or investors care add on?
BTW, I didn’t invest more than I am willing to lose, that’s just the way I gamble.
08-14-2008, 01:40 PM
#119
Gets Weekends Off
Thread Starter
Joined APC: Mar 2006
Position: SkyWest Capt.
Posts: 2,963
Originally Posted by simon
I cannot see anything less than a ride to the top.Unfortunatley if im wrong im going to pay because I unloaded a ton of cash here.
08-14-2008, 03:32 PM
#120
Gets Weekends Off
Joined APC: Feb 2007
Position: e190
Posts: 929
Originally Posted by JetJock16
An XJT CA, who jumped my FLT, told me that your Mgmnt team is going to take a 5% pay cut, is this true?
