ONEX plans

Discuss topics relating to Westjet.

Moderators: Sulako, North Shore, ahramin, sky's the limit, sepia

Post Reply
DropTanks
Rank 4
Rank 4
Posts: 215
Joined: Fri Jan 16, 2015 7:56 am

Re: ONEX plans

Post by DropTanks »

.
---------- ADS -----------
  
Last edited by DropTanks on Wed Feb 05, 2020 11:09 am, edited 1 time in total.

tailgunner
Rank 6
Rank 6
Posts: 474
Joined: Mon May 17, 2004 4:03 pm

Re: ONEX plans

Post by tailgunner »

Droptanks,
I agree that those pilots that were holding a lot of 18$ shares have a windfall at 31$. However, that may be a fleeting one time event. If Onex, decides to play hardball on salaries, what are the options for WJ pilots? Widebody expansion, which the optimistic are heavily relying on,cannot make up enough growth to offset the potential loss of wages.Furthermore, widebody expansion is full of great risk and even greater expense. Perhaps Onex, will be wiling to spend the billions required to compete with a combined AC/AT, or perhaps they revert to the business plan that was delivering solid, and predictable positive returns. A combined AC/AT will have almost 130 widebodies.
Cheers.
---------- ADS -----------
  

lostaviator
Rank 5
Rank 5
Posts: 333
Joined: Fri Jul 20, 2012 12:42 pm

Re: ONEX plans

Post by lostaviator »

tailgunner wrote:
Wed Jul 24, 2019 6:18 pm
Droptanks,
I agree that those pilots that were holding a lot of 18$ shares have a windfall at 31$. However, that may be a fleeting one time event. If Onex, decides to play hardball on salaries, what are the options for WJ pilots? Widebody expansion, which the optimistic are heavily relying on,cannot make up enough growth to offset the potential loss of wages.Furthermore, widebody expansion is full of great risk and even greater expense. Perhaps Onex, will be wiling to spend the billions required to compete with a combined AC/AT, or perhaps they revert to the business plan that was delivering solid, and predictable positive returns. A combined AC/AT will have almost 130 widebodies.
Cheers.
The fact they have still been pushing a head with the JV with Delta tells me they don't plan on reverting back to the old business plan. Delta would have pulled out if they thought this purchase was going to change things for them. Delta doesn't want to partner with 1996 WJ.

I think we (pilots) will have better luck negotiating with the company under Onex. They are smart business people who work/reason with numbers, not emotional leaders who toss chairs when they don't get their way.
---------- ADS -----------
  

DropTanks
Rank 4
Rank 4
Posts: 215
Joined: Fri Jan 16, 2015 7:56 am

Re: ONEX plans

Post by DropTanks »

.
---------- ADS -----------
  
Last edited by DropTanks on Wed Feb 05, 2020 11:08 am, edited 1 time in total.

JBI
Rank 8
Rank 8
Posts: 894
Joined: Wed Feb 18, 2004 11:21 am
Location: YYZ / LGA

Re: ONEX plans

Post by JBI »

DropTanks wrote:
Thu Jul 25, 2019 1:14 am

I don’t understand where these lost wages are that you speak of. Nothings been lost, ESP has been replaced and stock options replacement is currently being negotiated. We have a binding labor contract and while the shape of the remuneration might be changing, the grand total is not. As far as the business plan goes I think it’s safe to say Onex is buying into the company because it sees growth potential, not because they want to do a 180 and continue with stagnating earnings in the 1996 WJ model.
Agreed completely. While anything could happen, this whole divide and sell thing doesn't make sense for the price that Onex is paying per share.

Lots of challenges still here and lots of changes on the horizon, and again, while anything could happen, I don't see this as a negative.
---------- ADS -----------
  

Hangry
Rank 4
Rank 4
Posts: 205
Joined: Fri Jun 08, 2018 2:05 am

Re: ONEX plans

Post by Hangry »

Onex will be all about dat WJ until the economy slows, if it does. Does anyone really think Onex is going to sit on WJ and invest in massive expansion during a worldwide economic downturn? They are about making cash and nothing else. If things go bad like (pick your downturn) I can’t see the new business daddy sticking it out long term.

The WJ of today is nothing like the WJ of previous downturns.
---------- ADS -----------
  

altiplano
Rank 11
Rank 11
Posts: 4118
Joined: Sat Jan 22, 2005 2:24 pm

Re: ONEX plans

Post by altiplano »

4-7 years.

That's 95% of what they do.
---------- ADS -----------
  

seriousflyer
Rank 3
Rank 3
Posts: 113
Joined: Thu Apr 08, 2010 8:47 pm

Re: ONEX plans

Post by seriousflyer »

If onex wants to play hardball with the pilots, we will just play hardball back. Just like before.

I belive onex will accelerate growth and sell company via IPO in 5-10 years.

Espp plan has been announced for all westjetters except pilots. Pilots are negotiating through alpa team.
The replacement plan is better than the old plan. Allows for 2 or 3 year lock in period for additional matching % above 20%.
I think redistruutrtion of assets is possible. I actually predict everything will grow, including swoop. 30 tails asap.
---------- ADS -----------
  

Hangry
Rank 4
Rank 4
Posts: 205
Joined: Fri Jun 08, 2018 2:05 am

Re: ONEX plans

Post by Hangry »

seriousflyer wrote:
Thu Jul 25, 2019 11:30 pm
If onex wants to play hardball with the pilots, we will just play hardball back. Just like before.

I belive onex will accelerate growth and sell company via IPO in 5-10 years.

Espp plan has been announced for all westjetters except pilots. Pilots are negotiating through alpa team.
The replacement plan is better than the old plan. Allows for 2 or 3 year lock in period for additional matching % above 20%.
I think redistruutrtion of assets is possible. I actually predict everything will grow, including swoop. 30 tails asap.
Swoop isn’t growth
---------- ADS -----------
  

DropTanks
Rank 4
Rank 4
Posts: 215
Joined: Fri Jan 16, 2015 7:56 am

Re: ONEX plans

Post by DropTanks »

.
---------- ADS -----------
  
Last edited by DropTanks on Wed Feb 05, 2020 11:08 am, edited 1 time in total.

doiwannabeapilot
Rank 3
Rank 3
Posts: 101
Joined: Tue Jul 13, 2010 5:46 pm

Re: ONEX plans

Post by doiwannabeapilot »

I hear around 50 FO spots just opened up at Swoop. Fill your boots guys ! Shiny jet !
---------- ADS -----------
  

Warden
Rank 3
Rank 3
Posts: 120
Joined: Tue Jun 04, 2019 10:08 pm

Re: ONEX plans

Post by Warden »

doiwannabeapilot wrote:
Fri Jul 26, 2019 6:00 am
I hear around 50 FO spots just opened up at Swoop. Fill your boots guys ! Shiny jet !
Cause they're all leaving for AC. :lol:

Why anyone would want to work 20 days a month just to fly a 737 for $120k is beyond me.
---------- ADS -----------
  

goldeneagle
Rank 8
Rank 8
Posts: 754
Joined: Mon Jan 02, 2006 3:28 pm

Re: ONEX plans

Post by goldeneagle »

Warden wrote:
Fri Jul 26, 2019 7:52 am
Why anyone would want to work 20 days a month just to fly a 737 for $120k is beyond me.
Tell that to the person on call 31 days a month to launch a navajo at a job that brings in around 40K over the year. Then there are the folks pounding out 20 days a month on a 1900 for under 40K.

A hundred grand to fly a 737 with 10 days off every month sounds pretty peachy in comparison.
---------- ADS -----------
  

Warden
Rank 3
Rank 3
Posts: 120
Joined: Tue Jun 04, 2019 10:08 pm

Re: ONEX plans

Post by Warden »

No one is going from a Navajo or 1900 to the left seat of a 737......
---------- ADS -----------
  

DirtyDashDriver
Rank 1
Rank 1
Posts: 37
Joined: Sun May 12, 2019 12:00 pm

Re: ONEX plans

Post by DirtyDashDriver »

No one is going from a Navajo or 1900 to the left seat of a 737......
10 years ago no one was going from a 172 onto a Q400, yet here we are.
---------- ADS -----------
  

User avatar
CaptainHaddock
Rank 4
Rank 4
Posts: 211
Joined: Mon Jun 14, 2004 11:22 am
Location: Nowhere fast

Re: ONEX plans

Post by CaptainHaddock »

They are looking for a lot of FO’s because they couldn't get many the last 2 bids (I think they got 7 out of the 22 they were looking for). If Onex wants to expand WestJet WB rapidly they will require lots of pilots, currently Swoop/Encore are having a hard time attracting qualified pilots and WJ is losing pilots to AC. So the current system will have to change. Swoop is not growth for WJ, it is an extended penal sentence for Encore guys/gals that should have been flowing to WJ, it has also removed 60-70 upgrades at least from WJ. So unless they align the Swoop conditions to WJ they will continue exasperate any large recruitment plans.
But obviously Onex will make some changes, they didn’t pay a $12 premium to keep running it the same.
---------- ADS -----------
  
Billions of Bilious Blue Blistering Barnacles!

sstaurus
Rank 7
Rank 7
Posts: 617
Joined: Wed Sep 12, 2007 4:32 pm

Re: ONEX plans

Post by sstaurus »

Maybe someone at onex will knock some sense into the higher ups. Encore also continues to bleed pilots at a steady rate, and pretty soon will need to start shrinking the schedule unless there are some incentives provided soon to get people to stick around. Or they could continue to ride all the current captains past the point of burnout. Either way..
---------- ADS -----------
  

cjet
Rank 2
Rank 2
Posts: 88
Joined: Thu Jan 06, 2005 4:26 pm
Location: yyc

Re: ONEX plans

Post by cjet »

sstaurus wrote:
Tue Jul 30, 2019 5:58 am
Maybe someone at onex will knock some sense into the higher ups. Encore also continues to bleed pilots at a steady rate, and pretty soon will need to start shrinking the schedule unless there are some incentives provided soon to get people to stick around. Or they could continue to ride all the current captains past the point of burnout. Either way..

WJ has cancelled more than 40 flts over the last 2 weeks due to lack of crew.

Cjet
---------- ADS -----------
  

fish4life
Rank (9)
Rank (9)
Posts: 1794
Joined: Sun Jun 27, 2010 6:32 am

Re: ONEX plans

Post by fish4life »

cjet wrote:
Tue Jul 30, 2019 7:16 am
sstaurus wrote:
Tue Jul 30, 2019 5:58 am
Maybe someone at onex will knock some sense into the higher ups. Encore also continues to bleed pilots at a steady rate, and pretty soon will need to start shrinking the schedule unless there are some incentives provided soon to get people to stick around. Or they could continue to ride all the current captains past the point of burnout. Either way..

WJ has cancelled more than 40 flts over the last 2 weeks due to lack of crew.

Cjet
I heard they were offering LOA’s while the max was grounded, was it WJ flights cancelled or Encore flights?
---------- ADS -----------
  

cjet
Rank 2
Rank 2
Posts: 88
Joined: Thu Jan 06, 2005 4:26 pm
Location: yyc

Re: ONEX plans

Post by cjet »

fish4life wrote:
Tue Jul 30, 2019 9:49 am
cjet wrote:
Tue Jul 30, 2019 7:16 am
sstaurus wrote:
Tue Jul 30, 2019 5:58 am
Maybe someone at onex will knock some sense into the higher ups. Encore also continues to bleed pilots at a steady rate, and pretty soon will need to start shrinking the schedule unless there are some incentives provided soon to get people to stick around. Or they could continue to ride all the current captains past the point of burnout. Either way..

WJ has cancelled more than 40 flts over the last 2 weeks due to lack of crew.

Cjet
I heard they were offering LOA’s while the max was grounded, was it WJ flights cancelled or Encore flights?

Mainline Westjet.
---------- ADS -----------
  

Post Reply

Return to “WestJet”