Looming recession and lay offs

[Bug_Stomper_01]

Historically speaking, you can cause layoffs/ an industry downturn in several ways.

-Low consumer confidence
-9/11 style terrorist attack
-pandemic
-major financial crisis
-astronomical fuel prices


Right now, consumer confidence is at an all time low, the government is slow to relax C19 restrictions, war in Ukraine, fuel prices are at record highs and the economy hasn’t really recovered overly well.

I run a small firewood business … ( pandemic startup sidegig) some people are using wood to heat their homes … as it’s cheaper… think about that.

The UN is also predicting a global famine in the next several months … flying might be the last of our concerns…

Agreed, the economy never really recovered from 2008 realistically…. It just adjusted. 2014 oil crash in Canada same deal, never recovered just adjusted. Then a major change in government in 2015 that has red tape on anything that can produce wealth in Canada except our out of control housing market that’s propping up GDP with foreign investors’ invasion of the market. Now a pandemic that’s still ongoing and Ukraine war that’s only going to get worse… I’m waiting for zombie apocalypse at this point lol

[Localizer]

Considering every metric is pointing to a recession in the near future, are any of you worried about airlines closing shop and/or laying off workers despite this recent surge of hiring in Canada? From what I understand Jazz is hiring due to attrition and not growth so it is less to be affected with a downturn, but about the others? I.e WJ/encore/singing/transit/Porter,etc?

Does Canada have the market to support so much capacity in its skies during a recession, especially for airlines trying to break in (Porter)? Is Porters expansion a miscalculation?

I just wanna make sure I'm getting this right ... after the last two years of this &$#*ing bull*$#t you wanna slap some more doom and gloom on it just as the industry is finding its footing again?

Unfortunately reality doesn’t care about our feelings

I’m aware my feelings mean squat, but I tend to lean toward the economist that say cheaper oil would help elevate a deep recession, but our glamour shot prime minister could care less about the Canadian people and more about virtue signalling to the world that he will stop the use of hydrocarbons … what a joke.

[EPR]

Trudeau and his caucus, right from the get-go were all terribly incompetent and unqualified and should never had the positions they hold!

[altiplano]

Trudeau embodies it.

PM is his first job.

Unless you count drama teacher that he was dismissed from with NDA attached, or snowboard instructor, or trust fund rich kid.

Even in his few years as an opposition MP previous he is was a back bencher without a critical portfolio.

Unqualified is all he is.

[newlygrounded]

Trudeau embodies it.

PM is his first job.

Unless you count drama teacher that he was dismissed from with NDA attached, or snowboard instructor, or trust fund rich kid.

Even in his few years as an opposition MP previous he is was a back bencher without a critical portfolio.

Unqualified is all he is.

On that basis I can't think of our last "qualified" PM

[‘Bob’]

Trudeau embodies it.

PM is his first job.

Unless you count drama teacher that he was dismissed from with NDA attached, or snowboard instructor, or trust fund rich kid.

Even in his few years as an opposition MP previous he is was a back bencher without a critical portfolio.

Unqualified is all he is.

So in other words, he is eminently more qualified than PP who—like Donald Trump upon assuming the nation’s highest office… has never held a real job

[flying4dollars]

That’s what I was thinking, I’m quite happy at my current 703/704 going captain soon and it is pretty recession proof, but seeing my colleagues apply and get in at encore, Porter, Jazz now makes me wonder if I’m making a mistake not getting that seniority number or whether they’re in for a rough time come recession. Jazz seems pretty secure since it’s a cpa and it’s attrition hiring not growth, but if layoffs happen at WJ/swoop, encore guys are gonna get bumped by WJ guys, and Porter is trying to compete in an already saturated market with lynx, jetlines, transat and flair in there as well. What do you guys think

Get a seniority number, recall rights at most carriers are 10 years. You'll find work elsewhere if you get laid off in that time.

The thing that nobody has mentioned is: the worse off the economy is, the less money people have to spend on air travel, the more they will turn to ULCCs for their travel needs. Nothing private sector is recession proof, but in 1998 I personally asked Tim Morgan this exact question you are asking today, and that is what he told me. The names were different, but the concept was the same.

This