Upcoming Global Economic Downturn

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anchovy
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Upcoming Global Economic Downturn

Post by anchovy »

So.... this may not be a Sunwing specific topic but it has some relevance to new hires here...

With the impending economic downturn in Europe along with massive energy crisis and cost increases there (will probably affect deployments and the contract with TUI)... add our own impending economic woes to start...IF the WestJet deal doesn’t go through...what is the potential outlook for this company? Will they simply sell cheaper vacations?

The obvious demand for Canadians to escape winter will likely never cease...especially if it’s cheaper than other kinds of vacations.

Is the amount of people leaving going to offset the chances of staff layoffs? Are they so short right now that this doesn’t matter?

This would extend to other airlines as well... bottom of the totem poll at AC, WJ, Porter, etc. Some companies will fair better than others....or maybe they’re all hard up for staff?

Most of these companies had government COVID loans which have to be paid back etc..

The very hard post COVID travel momentum will end at some point...what will things look like then?

The downturn has arrived but we are only at the beginning.

Thoughts?
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seriousflyer
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Re: Upcoming Global Economic Downturn

Post by seriousflyer »

Don't be so bearish...

Air travel and aerospace industry has grown steadily for 20 years and will continue to grow steadily for 40 more years...
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fish4life
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Re: Upcoming Global Economic Downturn

Post by fish4life »

I agree there will be a big downturn especially in Canada where the housing market is going to crash. Current expectations are now looking at 5-6% interest rates at the central banks which means mortgages are going to be 7-8%. If anyone has doubts as to what that will do to the Canadian economy you are grossly naive.
A 1 million mortgage will be $7000 ish a month up from the $4000 it was at 1.5%
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bobcatdriver
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Re: Upcoming Global Economic Downturn

Post by bobcatdriver »

fish4life wrote: Fri Nov 04, 2022 8:16 pm I agree there will be a big downturn especially in Canada where the housing market is going to crash. Current expectations are now looking at 5-6% interest rates at the central banks which means mortgages are going to be 7-8%. If anyone has doubts as to what that will do to the Canadian economy you are grossly naive.
A 1 million mortgage will be $7000 ish a month up from the $4000 it was at 1.5%
People will always go on vacation. Cheaper vacation if they can't afford a nice one.

Any truth to the rumours that a big announcement is coming in the next day or so?
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