WestJet Group Hiring Freeze

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tsgas
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Re: WestJet Group Hiring Freeze

Post by tsgas »

Realitychex wrote: Sat Mar 14, 2020 4:30 pm If you talk to the powers at be at Onex, they'll tell you they bought WJ at a $4-$7 per share discount to its true value. Onex doesn't over pay for anything.

They bought WJ when it was just coming out of a mud puddle and they know it.

They'll be furloughs at AC, WJ, AA, Delta, UAL, Alaska, jetBlue, Southwest.......everyone. No one is immune.

Everyone should be back at work within about 90 days.

Use your time off wisely. It's a rare opportunity for airlines to reset and for employees to get an extended break.

If you think Onex bought WJ in order to shrink it, you're delusional.
Stop trying to pass yourself off as some kind of a genius. There is no need for your " you're delusion" because people have a different opinion than you.

Years ago Onex made a mistake and bought Beechcraft and then decided to drop it when the numbers didn't preform. The World is a different place currently and businesses will have to adjust to this new reality.
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Last edited by tsgas on Sat Mar 14, 2020 6:16 pm, edited 1 time in total.
chromeuser
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Re: WestJet Group Hiring Freeze

Post by chromeuser »

Edited.
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Last edited by chromeuser on Sat Mar 14, 2020 5:44 pm, edited 1 time in total.
jjj
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Re: WestJet Group Hiring Freeze

Post by jjj »

With these Oil prices is there a chance for some serious hedging and rapid comebacks?
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tsgas
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Re: WestJet Group Hiring Freeze

Post by tsgas »

jjj wrote: Sat Mar 14, 2020 5:37 pm With these Oil prices is there a chance for some serious hedging and rapid comebacks?
In order to hedge you need lots of cash reserves. Transit lost 10''s of millions and Southwest lost 100's of millions playing the game.
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Squid
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Re: WestJet Group Hiring Freeze

Post by Squid »

Kinda wonder if the transit deal will come to fruition if this gets worse for a longer period of time. This has gotta be hurtin sunwing big time too.
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Transonic
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Re: WestJet Group Hiring Freeze

Post by Transonic »

Thanks Realitychex,

If WestJet were to start up in Dec 2019 funded partly by a US airline tycoon, would they have lasted this crisis?

Will any Canadian investor want to back a new ULCC based in YYC in the future?
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CanadianPilotQc
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Re: WestJet Group Hiring Freeze

Post by CanadianPilotQc »

any truth to that article about FA's getting laid off? of media BS?.
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George Taylor
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Re: WestJet Group Hiring Freeze

Post by George Taylor »

I think within the next 48 hours we will all know how bad the layoffs will be.
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aerobod
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Re: WestJet Group Hiring Freeze

Post by aerobod »

Delta has currently grounded 300 of their aircraft, SAS is laying off 90% of their staff, American is suspending 75% of it's international flights and other airlines are looking at "drastic action". I would expect 50% of staff in temporary layoffs and force majeure declared in supplier contracts to be a minimum over the next few months for most airlines.
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cloak
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Re: WestJet Group Hiring Freeze

Post by cloak »

There is so much prediction of doom and gloom. By conventional thinking that may be true, but perhaps not! These hardships are not the result of one company mismanaging its finances, rather it is a world event out of control of (in this case) airlines. In fact it goes entirely against their momentum of hiring and expansion. If we as a whole think "conventionally" and run from the challenge, yes it will bring economic pain. Yet if we embrace the challenge with human resilience, it will turn potential doom and gloom into new opportunities not even perceived before.

As this is a global challenge beyond any one company or country, it behooves all governments to step up to the challenge and help their citizens. There is recent experience, either during SARS, H1N1 and other pandemics, or financial meltdown of 2008 and the ensuing QE. With the announcement in U.S today, likely other governments will follow suit and substantially expedite recovery. Not only is it possible, it is the smart way. If they could after 911, they must now. The money that will be paid in EI plus the strain on the infrastructure will be saved if the government help prevent massive lay-offs. There will be immediate partial recovery in taxes plus the long term gain of healthy economies. It's a win win.
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Bede
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Re: WestJet Group Hiring Freeze

Post by Bede »

tsgas wrote: Sat Mar 14, 2020 5:23 pm
Realitychex wrote: Sat Mar 14, 2020 4:30 pm If you talk to the powers at be at Onex, they'll tell you they bought WJ at a $4-$7 per share discount to its true value. Onex doesn't over pay for anything.

They bought WJ when it was just coming out of a mud puddle and they know it.

They'll be furloughs at AC, WJ, AA, Delta, UAL, Alaska, jetBlue, Southwest.......everyone. No one is immune.

Everyone should be back at work within about 90 days.

Use your time off wisely. It's a rare opportunity for airlines to reset and for employees to get an extended break.

If you think Onex bought WJ in order to shrink it, you're delusional.
Stop trying to pass yourself off as some kind of a genius. There is no need for your " you're delusion" because people have a different opinion than you.

Years ago Onex made a mistake and bought Beechcraft and then decided to drop it when the numbers didn't preform. The World is a different place currently and businesses will have to adjust to this new reality.
I have been following RealityChex stuff for a while. What I have noticed is that his posts are prescient. Pretty much whatever he says ends up coming to pass. That says a lot in my books. This will be no different. There will be massive short term blood letting shortly potentially moving into the medium turn if Covid-19 triggers a recession and causes a longer term down turn in air travel.
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Re: WestJet Group Hiring Freeze

Post by altiplano »

..
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Realitychex
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Re: WestJet Group Hiring Freeze

Post by Realitychex »

Transonic wrote: Sun Mar 15, 2020 4:07 am Thanks Realitychex,

If WestJet were to start up in Dec 2019 funded partly by a US airline tycoon, would they have lasted this crisis?

Will any Canadian investor want to back a new ULCC based in YYC in the future?
Not sure where you’re going with this one.

WJ made it through a bogus 30 day gov’t imposed, politically motivated.shutdown in Sept 1996, (all they ever found were about 25 minor paperwork issues and the total fine was less than $5k, all a matter of public record) and WJ was the first North American sched carrier back in the air after 9/11.

The rest is sort of “if my aunt had balls, she’d be my uncle” sort of conjecture. Not particularly useful.

I’ll be the first to acknowledge that WJ today is nothing like WJ in 1996 or 2001. But then neither too are any of the airlines operating in Canada today.

The first airlines to slash capacity will be the ones that will be in the best position to survive this event. For employees, it’s truly a “short term pain for long term gain” situation.

Stand by for new ATIS message.
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Transonic
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Re: WestJet Group Hiring Freeze

Post by Transonic »

Thanks for that. My apologies, I was indirectly referring to Enerjet’s ambitions. Will anyone invest in them now? Is there a need for Swoop post Covid-19?
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George Taylor
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Re: WestJet Group Hiring Freeze

Post by George Taylor »

Was there ever a need for Swoop?
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notwhoyouthinkIam
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Re: WestJet Group Hiring Freeze

Post by notwhoyouthinkIam »

George Taylor wrote: Mon Mar 16, 2020 10:59 am Was there ever a need for Swoop?
We all know why Swoop is a thing.
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Eric Janson
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Re: WestJet Group Hiring Freeze

Post by Eric Janson »

Realitychex wrote: Mon Mar 16, 2020 7:53 am WJ made it through a bogus 30 day gov’t imposed, politically motivated.shutdown in Sept 1996, (all they ever found were about 25 minor paperwork issues and the total fine was less than $5k, all a matter of public record) and WJ was the first North American sched carrier back in the air after 9/11.
If I remember correctly WestJet voluntarily suspended operations in 1996. Very good PR move imho.
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aerobod
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Re: WestJet Group Hiring Freeze

Post by aerobod »

As of 23:59 on Sunday, all scheduled flights outside of Canada will be cancelled and the domestic flights will be cut to about 50% of normal. So basically 25% of the scheduled flights will remain by 23 Mar. https://blog.westjet.com/statement-on-o ... m-ed-sims/
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Realitychex
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Re: WestJet Group Hiring Freeze

Post by Realitychex »

Eric Janson wrote: Tue Mar 17, 2020 5:58 am
Realitychex wrote: Mon Mar 16, 2020 7:53 am WJ made it through a bogus 30 day gov’t imposed, politically motivated.shutdown in Sept 1996, (all they ever found were about 25 minor paperwork issues and the total fine was less than $5k, all a matter of public record) and WJ was the first North American sched carrier back in the air after 9/11.
If I remember correctly WestJet voluntarily suspended operations in 1996. Very good PR move imho.
[/quo

It worked out just fine as I recall. The company was profitable the month flights resumed, and from then on for about 8 years straight with double digit growth.

The others? Well, not so much.

8)
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Re: WestJet Group Hiring Freeze

Post by KAG »

As covid 19 really starts to show us how unprepared we are and that we didn't take it seriously, I think we're looking at a near total shutdown of air travel for a month or so.
I know Jack shit, I know how to fly. I see a monster of a storm coming, one we haven't seen this big before. It's going to get ugly, and I don't think it's going to recover fast. I hope I'm wrong.
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