North Cariboo Layoffs

[leftoftrack]

Rumor has it that 20% of North Cariboo just got pink slips and the remainder took a 5% wage rollback. RJs are for sale as well as 5 other aircraft and unless things pick up this is just the first round. Good luck to those who have been forced out

[cdnpilot77]

I heard 35 pilots so far and the same 5% roll back, not sure how many pilots they had total. I know a few people there, hoping for the best for everyone at NCA!

[Boreas]

Hoping for the best for everyone thats working in and around the oil patch...

[Heliian]

The aviation industry has always been an up and down rollercoaster in a volatile market. NCA got huge, fast, to meet the growing demands and now has to cut back to stay afloat. Just like everyone else.

Don't worry chaps, she'll come back up again before you can say price gouging.

[CID]

It's not difficult to connect this to the low oil prices.

[Changes in Latitudes]

Great group of people there, here's hoping for a quick recovery to ops normal.

[MUSKEG]

It would appear that gloating over paying 70 cents a litre for gasoline is over. I know what I would rather pay now that the consequences are clear.

[CID]

Muskeg, NCA is a class act and nobody likes the economic impact of the low oil prices but nobody forced the oil industy in Canada to follow the world market prices especially when it meant obscene profits. And where is that money now? The Heritage fund is all smoke and mirrors.

[MUSKEG]

Exactly where did I disrespect NCA. I am well aware of its operation. What I said was. I would gladly pay what I did 6 months ago so that good friends could continue to be able to pay their mortgages or whatever they need.

[GyvAir]

I think CID was in agreement with you, MUSKEG.

[MUSKEG]

Hmmm. I see that now. My bad.

[Meatservo]

Hopefully they all get new jobs at a different company soon. Bad news.

[Heliian]

I would gladly pay what I did 6 months ago so that good friends could continue to be able to pay their mortgages or whatever they need.

Do you realize that lower oil prices are better for the entire aviation industry creating more and better jobs.

This is what happens when you are greedy and keep gouging the crap out of everyone. Eventually the bubble bursts. As a wise investor once said, "diversify diversify diversify".

[fish4life]

I would gladly pay what I did 6 months ago so that good friends could continue to be able to pay their mortgages or whatever they need.

Do you realize that lower oil prices are better for the entire aviation industry creating more and better jobs.

This is what happens when you are greedy and keep gouging the crap out of everyone. Eventually the bubble bursts. As a wise investor once said, "diversify diversify diversify".

I would agree but not in Canada. With our dollar tied to oil prices so heavily and a good chunk of the economy tied to oil for jobs I think airlines in Canada including WestJet and Air Canada would rather have things 6 months ago with a reasonable oil price and a stable canadian economy with a dollar in the low 90's with all their costs in USD. It might not seem immediate but this could be the start of some very dark economic times for Canada. The argument that it helps out our manufacturing industry has some validity but let's face it even if the dollar was at 20 cents they can still do it cheaper in China. If this oil bubble starts to see house prices falling where suddenly people's home equity lines of credit can't keep being increased there will be a bad down turn for every airline. It can't be underestimated how concerned the canadian bank is of this by dropping the interest rate surprisingly over night.

[iflyforpie]

Which is a good indicator of how much of a house of cards the Canadian economy is. High energy prices have been the quick, dirty, and as we are seeing.. volatile way of keeping things growing. Deutche Bank says Canadian real estate is overvalued by 63% percent and I believe them.

[whiteguy]

I heard 35 pilots so far and the same 5% roll back, not sure how many pilots they had total. I know a few people there, hoping for the best for everyone at NCA!

35 total employees, 6 pilots......

[North Shore]

1.) Sorry to hear about the NCA guys/gals getting a layoff. Oil will be back soon enough.

2.) [quote If this oil bubble starts to see house prices falling where suddenly people's home equity lines of credit can't keep being increased there will be a bad down turn for every airline. It can't be underestimated how concerned the canadian bank is of this by dropping the interest rate surprisingly over night.][/quote]
If one's personal economy depends on an ever-increasing HELOC, then the sooner it collapses, the better it will be for the rest of us.

3. Saw a quote somewhere on the interwebs, IIRC, it was from a Newfie: "Son, never buy anything that you can't cover with a pogey cheque..."

[Big Bird Anonymous]

I would like to know more about this rumor that the RJ's are for sale?

[Heliian]

Get you collective heads out of your collective arses. Any aviation company's majour costs are fuel, up to 2/3rds of their cost, so I don't see your logic.

It's not my fault you bought a trailer in fort mac for 500g's, a little planning and foresight next time maybe.

My daily fuel costs have dropped 40% and I spend that extra cash back into the economy and save some for the future too. I don't feel bad for the patch, they had their party and now the hangover....until the next party.

[whiteguy]

I would like to know more about this rumor that the RJ's are for sale?

A lot of time and money went into getting the RJ on line, I don't think they're officially for sale. Although it is aviation and everything has a price....