Big news out of the XJT front

[100LLguy]

.......................:

[jtrain609]

I was gonna say, don't let the cat outta the bag too soon. The union will publish something soon enough on the issue.

Suffice it to say, my new signature on here is "STFD," Shut The ####er Down, so you can tell how I feel...

[wheelsup]

That's constructive.

The banter on FI is no more branded, DAL flying goes to SkyWest, and you're on a year-to-year CPA with CAL with the remaining 204 planes, which can be assumed by SkyWest.

[meyers9163]

huh????????????

[flymo]

Yes, please let the union get their plans ironed out and make a formal public statement before everyone makes blind statements and jumps to conclusions. With that being said, from what I've read so far from the union, I'm with you on this one jtrain.

[Clocks]

I don't know what I want to do...

I don't know what any final plan is going to look like whether XJT gets bought or not.

But under either situation if I get furloughed, do I go back to flight instructing and wait out the furlough, or just try to jump on with another regional? A wild guess based on attrition means it would take as long as 2 years to get called back, if XJT even exists then.

[wheelsup]

Why go in with another regional just to go thru the same crap? Open your eyes, there are more opportunities than being a regional FO again.

[Citationkid]

Flight Options is hiring:

1500TT
300ME
100 Turbine

Good luck,

Alex.

[meyers9163]

Originally Posted by Clocks

I don't know what I want to do...

I don't know what any final plan is going to look like whether XJT gets bought or not.

But under either situation if I get furloughed, do I go back to flight instructing and wait out the furlough, or just try to jump on with another regional? A wild guess based on attrition means it would take as long as 2 years to get called back, if XJT even exists then.

hmm... sounds like no good coming ahead for xjet... But perhaps as already said let it all play out and see what happens. Perhaps there's still a light at the end of the tunnel?

[JEP]

taken from a travel industry mag:

....Yes, ExpressJet is suffering from high oil prices, as all airlines are. But it is also suffering from something entirely unrelated: the seizing-up of the auction-rate security market, where it parked $65 million of much needed cash. That cash is now unavailable, and ExpressJet has taken an $8.7 million charge against that money - valuing the "cash-like" auction-rate securities at less than 87 cents on the dollar.

Oh, and we're not done yet. Remember how Frontier Airlines was forced to declare bankruptcy after its credit card company imposed a "holdback" of 50% of all credit-card sales? Well, ExpressJet's credit card company imposed a 50% holdback on December 31 - and then increased the holdback to 100% at the end of March! (The details on the holdbacks come from an Aviation Week story which isn't online but which was sent to me by Joe Brancatelli.)

Basically, ExpressJet has precious little cash coming in, because its credit card company insists on holding it all until the passengers have actually flown. And it can't use a large chunk of the "cash" it has lying around, because most of that is tied up in illiquid auction-rate securities. All while oil prices continue to hit new highs.

I didn't realize the cash was as tied up as it appears to be. Also saw a note in Houston news paper :

The carrier, which recently spurned a buyout by SkyWest, said it will cut the flying it does under the ExpressJet name from 193 average daily departures in the first quarter to 166 by June. The company didn't say where it would cut.

The planes removed from those flights will be used on ExpressJet's new charter service, which is drawing more revenue.

Good Luck Xjetters, Hope it all works out in the end....

[meritflyer]

I know lots of ExpressJet guys want to see XJT stick it to SkyWest and Continental. This simply wont be allowed to happen. Don't forget who owns Express. It's not Jim Ream or the pilot group. ExpressJet has been backed into a corner and candidly at this point has no other option for future existence without SkyWest as a vehicle. Continental will let the CPA expire and farm out additional flying, most likely to SkyWest over the next 24 months after they remove 51 aircraft from the XJT CPA.

The union already said in the latest blastmail that branded will be reevaluated and either drastically reduced in addition to the already large reduction that took place in April or completely close it which, in it's own words would require staff reductions.

The shareholders won't let this opportunity pass by. ExpressJet can hold out for a higher offer ($4?) but ultimately will have to play by Continental/SkyWest rules since they are in a no position to make any sort of power play. I know that everyone wants to stick it to Continental, have Jim Ream close shop tomorrow, and/or let the CPA expire and let CAL fend for themselves but that simply can't and wont be done.

[meritflyer]

Originally Posted by Clocks

But under either situation if I get furloughed, do I go back to flight instructing and wait out the furlough, or just try to jump on with another regional?

If? If you read the latest blastmail you'd see furloughs are coming with a buyout or not.

[Clocks]

Originally Posted by meritflyer

If? If you read the latest blastmail you'd see furloughs are coming with a buyout or not.

I'm trying to post without revealing everything in the union-only email.

I know I'm getting furloughed this year . Though not promised...it's obvious what is coming.

[meritflyer]

Originally Posted by Clocks

I'm trying to post without revealing everything in the union-only email.

I know I'm getting furloughed this year . Though not promised...it's obvious what is coming.

It's not privileged information. If it was, you'd be the last to know.

[meyers9163]

Originally Posted by Clocks

I'm trying to post without revealing everything in the union-only email.

I know I'm getting furloughed this year . Though not promised...it's obvious what is coming.

Keep the spirits as high as you can though man..... Wait it out and see what happens.... But if nothing else there are so many fractional jobs and corp gigs out there. I didnt realize this until lately. Heck even some nice Pilatus jobs as of late coming out!

[mikecweb]

good luck guys.

[Minuteman]

This thread made me go read FI. Now I either need a group-hug or something to punch.

Be resolved to make the decisions that will make your career the most profitable over its life, and good luck.

[surreal1221]

Good luck gents. . .

Alpha Flying is hiring, just an FYI.

[thanksithink]

Originally Posted by Minuteman

This thread made me go read FI. Now I either need a group-hug or something to punch.

Be resolved to make the decisions that will make your career the most profitable over its life, and good luck.

Just a question, what is FI?

Thanks. Sorry if this is a stupid question.

[meyers9163]

Originally Posted by thanksithink

Just a question, what is FI?

Thanks. Sorry if this is a stupid question.

Different forum..... many left to come here. Flightinfo.com

[bike21]

Originally Posted by thanksithink

Just a question, what is FI?

Thanks. Sorry if this is a stupid question.

It is probably best not to know



Good luck XJT folks. I haven't a clue what is going on, but it doesn't sound good based off some of your reactions.

Who knows, maybe you guys will be the next big thing in the charter business and leave all of us regional suckers behind

[GaTechKid]

This is absolutely no way to start off a good relationship if SKW does end up purchasing XJT. Hopefully either both parties can reach some sort of agreement that minimizes job losses or no deal takes place.

[meyers9163]

Originally Posted by GaTechKid

This is absolutely no way to start off a good relationship if SKW does end up purchasing XJT. Hopefully either both parties can reach some sort of agreement that minimizes job losses or no deal takes place.

Lets hope... and if it goes through SKW pilots should also possibly be on the street. The list should merge and thsoe at the bottom get the axe.... To single out XJET guys only is BS.... Period!

[GaTechKid]

Originally Posted by meyers9163

Lets hope... and if it goes through SKW pilots should also possibly be on the street. The list should merge and thsoe at the bottom get the axe.... To single out XJET guys only is BS.... Period!

No deal Howie!

[gtpilot]

Hopefully if Skywest does get the deal, there will be no list integration and no furlough. Either way, Express doesn't deserve this - hope all works out for you guys.