Surviving Tough Times

Interesting Times

Interesting Times

Managed to read last weeks Arabian Business while in Kuwait - good for a laugh!

The cover story about where to invest in tough times caught I my eye - so I paged through the ads for Private Jets, Luxury Cars and Properties to read the article. What they were saying was:-

"Invest in the GCC"
"Prices are low now is the time to buy"

Comment:- Habib, I wouldn't touch the GCC or any of your Toxic Investments with a 10 foot pole!

These people are living in a fantasy world - they're all going down. Victims of their own greed.

EY/EK merger could be interesting. My company is 43 and-a-bit % owned by Emirates. They are currently increasing code sharing with EY. Wouldn't surprise me to see EY take over the EK share.

Abu Dhabi is being increasingly flown with A330/A340.
 
And so it begins

And so it begins

Looks like things are getting worse by the day....

I wish there was something positive to report but things are going downhill very fast.

Companies offering Leave of Absence

Cathay Pacific
Ryanair
Finnair
Jazz
SIA Cargo

Companies cutting salaries

Vietnam Airlines (Expats only)
Kingfisher
Jet Airways

In addition Expat contracts are not being renewed at SIA Mainline and Jet Airways. Cathay Pacific will be deferring aircraft deliveries next year.

This is affecting all branches of the industry. I expect a very steep downturn in both passenger and cargo next year. We could be looking at -30% by this time next year. A number of Airlines are still taking deliveries of aircraft for which there will be no work - going to cost $$$. There are all kinds of rumours of Airline X or Y in financial trouble - expect a large number of bankruptcies.

I'll say it again - next year is all about survival.
 
What the future holds

What the future holds

Some Predictions for 2009.

A Look at What the Future Holds in 2009


For those of you who still haven't figured it out:-

This is our current situation.

raftmedusa.jpg
 
Allthough still hiring for specific posts; Luxair was in the news here today. All external staff is or will be put off. Staff on a temporary contract will be reviewed if they are still needed before renewing their contracts...

An optimist is nothing but a mis-informed pessimist
(Don't remember who said that, but it fits the bill I'd say)
 
Ik hoorde laatst iemand zeggen: "Een verwachting is een uitgestelde teleurstelling!" ("An expectation is a delayed disappointment!")

Op zich een leuke stelling, maar als dit verteld wordt door de algemeen directeur van de firma waar je werkt... :passed:
 
PH-FLY,

Ik begrijp je stelling, alleen geldt je negativiteit alleen als je het maar uit een hoek bekijkt ;-). Zeker gezien alle negativiteit, overal, op dit zekere moment kan je stellen dat jouw stelling zelfs positief is.

Playing with words, but just to put two cents in.

Cheers,
deoostblokker
 
deoostblokker said:
PH-FLY,

Ik begrijp je stelling, alleen geldt je negativiteit alleen als je het maar uit een hoek bekijkt ;-). Zeker gezien alle negativiteit, overal, op dit zekere moment kan je stellen dat jouw stelling zelfs positief is.

Playing with words, but just to put two cents in.

Cheers,
deoostblokker
Click to expand...


Mr. Oostblokker,

Het was niet mijn stelling... :kiss:

En wat betreft die two cents, in welke valuta is dat? Is tegenwoordig toch weldegelijk van belang! :D

Proost,
PH-FLY
 
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