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Back in the black…
OK, not by MUCH, but a little profit is better than none…
Spirit (SAVE) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.09 per share. This compares to loss of $0.69 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 133.33%. A quarter ago, it was expected that this airline would post a loss of $0.34 per share when it actually produced a loss of $0.30, delivering a surprise of 11.76%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. |
Originally Posted by Excargodog
(Post 3520836)
OK, not by MUCH, but a little profit is better than none…
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Originally Posted by Excargodog
(Post 3520880)
Well, not really profit, but earnings adjusted for non recurring items are a mite better than expected.
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Trailing the industry after management made it clear we would be the FIRST to consistent profitability…
Womp womp…….. |
Yeah, well it’s great to add aircraft, but without retaining enough aircrew to staff them they are just an overhead expense for debt service, parking fees, routine maintenance…etc. And more aircraft coming next year…like the sorcerers apprentice.
I guess the strategy is to wait for the demise of the regionals and hire all the low 121 time FOs that will find themselves without jobs when the music stops. |
Originally Posted by Excargodog
(Post 3520962)
Yeah, well it’s great to add aircraft, but without retaining enough aircrew to staff them they are just an overhead expense for debt service, parking fees, routine maintenance…etc. And more aircraft coming next year…like the sorcerers apprentice.
I guess the strategy is to wait for the demise of the regionals and hire all the low 121 time FOs that will find themselves without jobs when the music stops. |
Originally Posted by JulesWinfield
(Post 3521022)
That’s a bad plan, considering the number of airframes coming over the next year and a half.
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Originally Posted by Excargodog
(Post 3521257)
As demonstrated by the falling utilization numbers.
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Originally Posted by sioux8ships
(Post 3521417)
Down by 2 hours per plane. That’s huge!
Sure doing it differently now. |
Originally Posted by sioux8ships
(Post 3521417)
Down by 2 hours per plane. That’s huge!
But why come to NK when B6 is hiring? Sure, you might have to do a tour in the Embraer, but so what? You’ll still come out better off economically, and likely wind up in the same place. |
Originally Posted by Excargodog
(Post 3521464)
Imagine what the numbers would have been if properly staffed!
But why come to NK when B6 is hiring? Sure, you might have to do a tour in the Embraer, but so what? You’ll still come out better off economically, and likely wind up in the same place. Why go to either airline? Almost every regional is paying more now. Might as well hang out there until a legacy calls. |
Originally Posted by CincoDeMayo
(Post 3521462)
Remember the BBB days of 17 hours utilization?! Haha.
Sure doing it differently now. |
Originally Posted by Excargodog
(Post 3521464)
Imagine what the numbers would have been if properly staffed!
But why come to NK when B6 is hiring? Sure, you might have to do a tour in the Embraer, but so what? You’ll still come out better off economically, and likely wind up in the same place. |
Originally Posted by king10pin02
(Post 3521485)
dont knock the 190 till ya have flown it…..much nicer plane to fly than the bus….
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Originally Posted by sioux8ships
(Post 3521470)
Why go to either airline? Almost every regional is paying more now. Might as well hang out there until a legacy calls.
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Originally Posted by sioux8ships
(Post 3521470)
Why go to either airline? Almost every regional is paying more now. Might as well hang out there until a legacy calls.
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Originally Posted by Excargodog
(Post 3521616)
Regionals are starting to fall apart due to CA loss. A recession might save them - maybe - but B6 pay and bennies trump regional FO pay, and there are plenty of regional FOs stuck on reserve and barely getting block right now due to the CA shortage. Another type and more flying hours will get them to their legacy faster than 25-30 a month reserve.
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Looking at the 10-Q, we had record revenue and barely made a profit of 3.6m, after applying some funny money adjustments and write offs. The operation still lost money.
Aircraft utilization in the third quarter 2022 was 10.6 hours, down 15.2 percent compared to the 12.5 hours in the same period of 2019. Continued constraint on flights to and from Florida and staffing challenges are the primary limitations on Spirit's ability to optimize its network and operate its fleet at full utilization. “The constraints limiting our ability to optimize our network continue to be a headwind to reaching full utilization; that said, our team is doing a great job running a reliable, on-time operation and minimizing the impacts of these constraints. Despite the large number of aircraft deliveries over the next few months, we remain confident we will continue to see gradual improvement in fleet utilization in the fourth quarter and throughout the first half of next year, reaching full utilization around mid-summer 2023," said Scott Haralson, Spirit's Chief Financial Officer. |
Originally Posted by JulesWinfield
(Post 3522015)
Looking at the 10-Q, we had record revenue and barely made a profit of 3.6m, after applying some funny money adjustments and write offs. The operation still lost money.
Bang up job by the beard and the boys. They deserve a big bonus. |
Originally Posted by Tranquility
(Post 3522067)
To be fair, most of the airlines are reporting record revenue, however a large chunk of that is merely offsetting fuel…. For us, I would hope we would have record revenue as we are larger now than we were last year, and the year before that, and the year before that, etc….
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Originally Posted by Excargodog
(Post 3522100)
Yet another reason for ALPA to push for REVENUE sharing rather than profit sharing. Profit is amenable to accounting gimmicks. Revenue is pretty definite. And it’s not without precedent. States do it all the time with sales tax. They don’t give a rats rear if you are selling items with a tremendous markup or at a loss, they get their fixed percentage.
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Originally Posted by MCDUmanipulator
(Post 3522172)
lol Spirit will never share a cent with pilots. We’ll be lucky if we get meaningful raises.
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Originally Posted by JulesWinfield
(Post 3522015)
Looking at the 10-Q, we had record revenue and barely made a profit of 3.6m, after applying some funny money adjustments and write offs. The operation still lost money.
Bang up job by the beard and the boys. They deserve a big bonus. TC: "Look past the loss, we kept costs low!" JG and RH: "Amazing! here's 40 million" |
Originally Posted by Excargodog
(Post 3522100)
Yet another reason for ALPA to push for REVENUE sharing rather than profit sharing. Profit is amenable to accounting gimmicks. Revenue is pretty definite. And it’s not without precedent. States do it all the time with sales tax. They don’t give a rats rear if you are selling items with a tremendous markup or at a loss, they get their fixed percentage.
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Originally Posted by Bluedriver
(Post 3522249)
I can tell, you just don't listen. You get an idea in your head, and no matter how many times, and in how many ways you are shown it is flawed, you just stick your fingers in your ears...
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Originally Posted by Bluedriver
(Post 3522249)
I can tell, you just don't listen. You get an idea in your head, and no matter how many times, and in how many ways you are shown it is flawed, you just stick your fingers in your ears...
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Originally Posted by CLE to IAH
(Post 3522388)
hahaha I can’t believe y’all are still arguing with that guy
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Originally Posted by Excargodog
(Post 3522332)
Nothing flawed about it. It works fine for 48 states and the. District of Columbia. The fact you feel it is “flawed” doesn’t make it flawed. You are entitled to your opinion, but it’s no more than your opinion. You aren’t the universal arbiter of flawed and unflawed.
This management has fought with supernatural ferocity to keep us from taxing their profit (simple profit sharing plan) which would only be due when the company is healthy and making a profit, and you think they will let you tax their revenue and pay us whether times are good or catastrophic?!? All the reasons you think it's a good idea make it a non-starter for them. And their is NO precedent in the airline business, not even close. When it comes to contract negotiation matters, I'm far from a defeatist but on this one you're nuts. |
Originally Posted by Bluedriver
(Post 3522509)
Is the airline a government entity? Which airlines have allowed labor to tax their revenue?
This management has fought with supernatural ferocity to keep us from taxing their profit (simple profit sharing plan) which would only be due when the company is healthy and making a profit, and you think they will let you tax their revenue and pay us whether times are good or catastrophic?!? All the reasons you think it's a good idea make it a non-starter for them. And their is NO precedent in the airline business, not even close. When it comes to contract negotiation matters, I'm far from a defeatist but on this one you're nuts. You don’t ask, you don’t get. |
Originally Posted by king10pin02
(Post 3521485)
dont knock the 190 till ya have flown it…..much nicer plane to fly than the bus….
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Originally Posted by Excargodog
(Post 3520836)
OK, not by MUCH, but a little profit is better than none…
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Originally Posted by El Peso
(Post 3525567)
In the black? Excluding special items are we? Net loss was 36m.
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Originally Posted by HanYolo
(Post 3525695)
Unfortunately our 2022 earnings so far are not that much better than 2021. If the absolute best and rosiest picture is an adj. net income non-GAAP of $3.6Mil, that isn’t really something to boast about. 🤞Q4 will show a better trend yoy.
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Originally Posted by CincoDeMayo
(Post 3525709)
You have to account for the winter meltdowns we will have and the hit on Q4 it will have. This company simply doesn’t have the infrastructure to run a company when crap hits the fan, and it hits our small profit line every time, pushing us into the red.
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Originally Posted by Excargodog
(Post 3525384)
NEGOTIATION 101
You don’t ask, you don’t get. To expect a more receptive response to something that has no precedent in the industry and is multitudes more onerous on the company is to be wholly delusional. |
Originally Posted by Bluedriver
(Post 3525776)
Maybe you missed the part where I made it clear we have been "asking" (more than asking) for an industry standard profit sharing plan, and have been met with supernatural ferocity to deny what is nearly a universally standard benefit at the JB level in the industry...
To expect a more receptive response to something that has no precedent in the industry and is multitudes more onerous on the company is to be wholly delusional. |
Originally Posted by Excargodog
(Post 3525763)
Underutilized aircraft is the big issue currently. Buying more aircraft just to park them because you can’t retain enough pilots to fly them is a killer. The fixed expenses - financing or leasing costs, parking fees, mx upkeep, insurance, and depreciation are pretty much the same if you actually fly them or use them for static displays. We need to control attrition, which will take $$. It takes money to make money.
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Originally Posted by CincoDeMayo
(Post 3525905)
No crap, Sherlock. Money will help attrition. Groundbreaking. But unlike your desire, it will have to be money for all on the list.
If that was such a brilliant tactic one would think management would have caved by now. So how long must your screw the newbies scheme have to not work before you’ll admit it’s not working? |
Originally Posted by Excargodog
(Post 3525855)
And when has any pilot group had more leverage than today? And OF COURSE YOU ASK. Shoot for the moon, and maybe you at least get into orbit. Shoot for ‘the standard’ and all you’ll you get is a Tumi suitcase.
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Originally Posted by Bluedriver
(Post 3525949)
Why don't you go ahead and ask for $1M per flight hour and two chick's at the same time for every layover... They are just as likely as a revenue tax, but you can ask...
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