SkyWest acquires 25% of Contour ownership
02-02-2024, 09:55 AM
#3
On Reserve
Joined APC: Aug 2023
Posts: 15
Well said
Back to the lobby Lizzy
Back to the lobby Lizzy
And right below that announcement.
Profiting 30 million a year with 3 billion in total debt, only 100 more years to break even! They’re 2,000 Captains short and they just acquired 25% of some low life dumpster fire operation with a couple dozen tired clapped out POS rj’s, and only 200 pilots total. Who the hell works for an outfit like Contour in this hiring environment? I’m sure it’s only the best and brightest pilots! SkyWest isn’t playing chess or checkers, they’re just playing desperate.
They’re not in huge trouble like Mesa who should have liquidated already, but the regional airline model doesn’t work longterm. The 4 legacy carriers with regional feed have started to restructure their own models that will not include regional airlines being anything but an afterthought. None of them seem to care about the regional feed shrinking organically as long as it’s slow and steady to not disrupt the mainline operation.
Don’t worry the ULCC model has ran its course and proven to not be a successful longterm model either. Plenty of jobs will be available at mainline. Not for you though, fortunately you’ve been deemed “unhireable”. Walmart will always need greeters though!
- Net income decreased from $73 million in 2022 to $34 million in 2023
- Total debt was $3.0 billion at December 31, 2023
Profiting 30 million a year with 3 billion in total debt, only 100 more years to break even! They’re 2,000 Captains short and they just acquired 25% of some low life dumpster fire operation with a couple dozen tired clapped out POS rj’s, and only 200 pilots total. Who the hell works for an outfit like Contour in this hiring environment? I’m sure it’s only the best and brightest pilots! SkyWest isn’t playing chess or checkers, they’re just playing desperate.
They’re not in huge trouble like Mesa who should have liquidated already, but the regional airline model doesn’t work longterm. The 4 legacy carriers with regional feed have started to restructure their own models that will not include regional airlines being anything but an afterthought. None of them seem to care about the regional feed shrinking organically as long as it’s slow and steady to not disrupt the mainline operation.
Don’t worry the ULCC model has ran its course and proven to not be a successful longterm model either. Plenty of jobs will be available at mainline. Not for you though, fortunately you’ve been deemed “unhireable”. Walmart will always need greeters though!
02-02-2024, 11:28 AM
#5
Gets Weekends Off
Joined APC: Sep 2015
Posts: 386
Seems to make "cents". Contour has been winning EAS awards at OO's expense. As well...SWC's EAS ambitions have been setback by ALPA (not that SWC has been performing poorly by any means).
Seems like an organice path. If you can't beat 'em, Join 'em.
One question: Is this the last of OO's investment in Contour?
Seems like an organice path. If you can't beat 'em, Join 'em.
One question: Is this the last of OO's investment in Contour?
02-02-2024, 12:13 PM
#6
Gets Weekends Off
Joined APC: Feb 2022
Posts: 449
And right below that announcement.
Profiting 30 million a year with 3 billion in total debt, only 100 more years to break even! They’re 2,000 Captains short and they just acquired 25% of some low life dumpster fire operation with a couple dozen tired clapped out POS rj’s, and only 200 pilots total. Who the hell works for an outfit like Contour in this hiring environment? I’m sure it’s only the best and brightest pilots! SkyWest isn’t playing chess or checkers, they’re just playing desperate.
They’re not in huge trouble like Mesa who should have liquidated already, but the regional airline model doesn’t work longterm. The 4 legacy carriers with regional feed have started to restructure their own models that will not include regional airlines being anything but an afterthought. None of them seem to care about the regional feed shrinking organically as long as it’s slow and steady to not disrupt the mainline operation.
Don’t worry the ULCC model has ran its course and proven to not be a successful longterm model either. Plenty of jobs will be available at mainline. Not for you though, fortunately you’ve been deemed “unhireable”. Walmart will always need greeters though!
- Net income decreased from $73 million in 2022 to $34 million in 2023
- Total debt was $3.0 billion at December 31, 2023
Profiting 30 million a year with 3 billion in total debt, only 100 more years to break even! They’re 2,000 Captains short and they just acquired 25% of some low life dumpster fire operation with a couple dozen tired clapped out POS rj’s, and only 200 pilots total. Who the hell works for an outfit like Contour in this hiring environment? I’m sure it’s only the best and brightest pilots! SkyWest isn’t playing chess or checkers, they’re just playing desperate.
They’re not in huge trouble like Mesa who should have liquidated already, but the regional airline model doesn’t work longterm. The 4 legacy carriers with regional feed have started to restructure their own models that will not include regional airlines being anything but an afterthought. None of them seem to care about the regional feed shrinking organically as long as it’s slow and steady to not disrupt the mainline operation.
Don’t worry the ULCC model has ran its course and proven to not be a successful longterm model either. Plenty of jobs will be available at mainline. Not for you though, fortunately you’ve been deemed “unhireable”. Walmart will always need greeters though!
34 million net income which included paying down the debt by 12% - 3.4 paid down to 3.0 in 2023.
02-04-2024, 08:24 PM
#7
Gets Weekends Off
Joined APC: Nov 2016
Posts: 891
great for investors and shareholders. They are hoping OO continues to squeeze every ounce of blood out of the workers to maximize the dwindling profit until the regional model finally dies. Enron was on a tear right up until its collapse also. I'd be worried. I thought regionals had about 5 years left. Now, I'm not so sure. The major airlines who decide their fate seemed to have decided an earlier termination status than was thought. Update those apps.
02-05-2024, 04:14 AM
#8
Gets Weekends Off
Thread Starter
Joined APC: May 2022
Position: Clappin' Rip Bombs
Posts: 427
great for investors and shareholders. They are hoping OO continues to squeeze every ounce of blood out of the workers to maximize the dwindling profit until the regional model finally dies. Enron was on a tear right up until its collapse also. I'd be worried. I thought regionals had about 5 years left. Now, I'm not so sure. The major airlines who decide their fate seemed to have decided an earlier termination status than was thought. Update those apps.
02-05-2024, 05:17 AM
#9
Gets Weekends Off
Thread Starter
Joined APC: May 2022
Position: Clappin' Rip Bombs
Posts: 427
And right below that announcement.
Profiting 30 million a year with 3 billion in total debt, only 100 more years to break even! They’re 2,000 Captains short and they just acquired 25% of some low life dumpster fire operation with a couple dozen tired clapped out POS rj’s, and only 200 pilots total. Who the hell works for an outfit like Contour in this hiring environment? I’m sure it’s only the best and brightest pilots! SkyWest isn’t playing chess or checkers, they’re just playing desperate.
They’re not in huge trouble like Mesa who should have liquidated already, but the regional airline model doesn’t work longterm. The 4 legacy carriers with regional feed have started to restructure their own models that will not include regional airlines being anything but an afterthought. None of them seem to care about the regional feed shrinking organically as long as it’s slow and steady to not disrupt the mainline operation.
Don’t worry the ULCC model has ran its course and proven to not be a successful longterm model either. Plenty of jobs will be available at mainline. Not for you though, fortunately you’ve been deemed “unhireable”. Walmart will always need greeters though!
- Net income decreased from $73 million in 2022 to $34 million in 2023
- Total debt was $3.0 billion at December 31, 2023
Profiting 30 million a year with 3 billion in total debt, only 100 more years to break even! They’re 2,000 Captains short and they just acquired 25% of some low life dumpster fire operation with a couple dozen tired clapped out POS rj’s, and only 200 pilots total. Who the hell works for an outfit like Contour in this hiring environment? I’m sure it’s only the best and brightest pilots! SkyWest isn’t playing chess or checkers, they’re just playing desperate.
They’re not in huge trouble like Mesa who should have liquidated already, but the regional airline model doesn’t work longterm. The 4 legacy carriers with regional feed have started to restructure their own models that will not include regional airlines being anything but an afterthought. None of them seem to care about the regional feed shrinking organically as long as it’s slow and steady to not disrupt the mainline operation.
Don’t worry the ULCC model has ran its course and proven to not be a successful longterm model either. Plenty of jobs will be available at mainline. Not for you though, fortunately you’ve been deemed “unhireable”. Walmart will always need greeters though!
Mainline needs me more than I need mainline. Oh also, nice work crying to the mods.
02-08-2024, 04:16 PM
#10
New Hire
Joined APC: Sep 2017
Posts: 3
Contour-SkyWest-United Pathway
What do you all think about this?
I just interviewed to be an FO at Contour with 1440 total time, 18 multi, and working as a CFII. Given how slow 121 regionals have been to respond or offer interviews, I was tempted, but the penalties are stiff. Is it a pilot pathway or indentured servitude? I have not read the contract; I am going off of what I was told.
Pilot Pathway to Skywest and United:
Upgrade to Captain once reached ATP mins and 500 in type, assuming systems/managerial knowledge sufficient and one winter season completed: $20,000 bonus
1000 hours PIC at Contour=flow to SKYwest with up to 2 years' seniority as DEC. After IOE at SKW-$20,000 bonus.
400 hours in at SKW: guaranteed interview with United (or Delta or Alaska).
After 1600 PIC at SKW: Can flow to United/etc.
Penalties for voluntary separation or termination:
$40,000 if you leave before upgrade at Contour
$60,000 if you leave after upgrade at Contour
$75,000 if you leave SKW after starting at SKW (nothing owed to Contour after leaving to SKW)
Skywest, but would much rather get hired as an FO directly without a contract like this. It seems unfathomable to agree to a contract that holds even to your next carrier. Is anyone getting hired as an FO at the regionals right now with 1500 hours?
I just interviewed to be an FO at Contour with 1440 total time, 18 multi, and working as a CFII. Given how slow 121 regionals have been to respond or offer interviews, I was tempted, but the penalties are stiff. Is it a pilot pathway or indentured servitude? I have not read the contract; I am going off of what I was told.
Pilot Pathway to Skywest and United:
Upgrade to Captain once reached ATP mins and 500 in type, assuming systems/managerial knowledge sufficient and one winter season completed: $20,000 bonus
1000 hours PIC at Contour=flow to SKYwest with up to 2 years' seniority as DEC. After IOE at SKW-$20,000 bonus.
400 hours in at SKW: guaranteed interview with United (or Delta or Alaska).
After 1600 PIC at SKW: Can flow to United/etc.
Penalties for voluntary separation or termination:
$40,000 if you leave before upgrade at Contour
$60,000 if you leave after upgrade at Contour
$75,000 if you leave SKW after starting at SKW (nothing owed to Contour after leaving to SKW)
Skywest, but would much rather get hired as an FO directly without a contract like this. It seems unfathomable to agree to a contract that holds even to your next carrier. Is anyone getting hired as an FO at the regionals right now with 1500 hours?
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