Airport.

[Utah 01]

26 minutes ago, IOM said:

The island needs reliable operators given few options to get on and off island and it’s currently being badly let down . 

It needs an Island-based airline; nothing more, nothing less.  It doesn't necessarily need government finance although that would be desirable, but it does need 100% legislative protection from government i terms of route licensing.

[NoTailT]

11 minutes ago, Utah 01 said:

It needs an Island-based airline; nothing more, nothing less.  It doesn't necessarily need government finance although that would be desirable, but it does need 100% legislative protection from government i terms of route licensing.

I'd love to learn more about the terms of the underwrite for LCY and LHR. One for @Josem to figure out via specialist FOI skills?

Look at Newquay. Eastern are operating several flights per day, like clockwork, no drama, to Gatwick. On a PSO. A proper PSO, that was tendered. Not some whimsical underwrite designed for one operator.

[Beyond Belief]

Sleazy Jet has just cancelled the Bristol flight.

 

[Roger Mexico]

1 hour ago, NoTailT said:

Remember the days when during TT Flybe used to have 8+ departures and arrivals per day from Manchester and Liverpool. These days we can barely manage to fly one. It must be having a detrimental impact on delivering punters for TT.

I also remember Flybe cancelling a lot LPL or MAN flights when it was convenient to combine the two and suspect this may be what is happening here.  In which case there won't be many TT fans left stranded, at least not for long.  I suspect the TT air number are going to be a long way down because people won't have been holding booking over from 2020 as they would have with sea travel and lack of decent accommodation will do the rest.

[Bandits]

1 minute ago, Roger Mexico said:

I suspect the TT air number are going to be a long way down because people won't have been holding booking over from 2020 as they would have with sea travel and lack of decent accommodation will do the rest.

Completely agree with that. 

[Banker]

7 minutes ago, Roger Mexico said:

I also remember Flybe cancelling a lot LPL or MAN flights when it was convenient to combine the two and suspect this may be what is happening here.  In which case there won't be many TT fans left stranded, at least not for long.  I suspect the TT air number are going to be a long way down because people won't have been holding booking over from 2020 as they would have with sea travel and lack of decent accommodation will do the rest.

Bristol & Gatwick could have c300 TT fans stranded here plus 300 more that can’t get here!

[Nellie]

1 hour ago, Beyond Belief said:

Sleazy Jet has just cancelled the Bristol flight.

 

I see that they have cancelled no fewer than 11 flights from Bristol, this afternoon/evening. This is around 50% of their flying programme for that period. There are no cancellations among other airlines, so it looks like EZY have some fairly major issues. Of course, that is no consolation to the 300 TT fans who will now be unable to travel.

Sir Stelios must be turning in his grave. (I know he's alive and kicking, but you get the gist!)  

[Andy Onchan]

9 hours ago, Nellie said:

I see that they have cancelled no fewer than 11 flights from Bristol, this afternoon/evening. This is around 50% of their flying programme for that period. There are no cancellations among other airlines, so it looks like EZY have some fairly major issues. Of course, that is no consolation to the 300 TT fans who will now be unable to travel.

Sir Stelios must be turning in his grave. (I know he's alive and kicking, but you get the gist!)  

Who or what is keeping EZE afloat (metaphorically speaking)? If they don't manage to turn this around from the beginning of next month I foresee a collapse or restructuring taking place.

[Banker]

1 hour ago, Andy Onchan said:

Who or what is keeping EZE afloat (metaphorically speaking)? If they don't manage to turn this around from the beginning of next month I foresee a collapse or restructuring taking place.

Cancellation are only a very small % of flights operated so don’t think there’s any chance of collapse 

[John Wright]

17 minutes ago, Banker said:

Cancellation are only a very small % of flights operated so don’t think there’s any chance of collapse 

But 40 flights a day is up to €3million in compensation. That’s a big attrition sum. Plus the reputational damage.

[0bserver]

2 hours ago, Andy Onchan said:

Who or what is keeping EZE afloat (metaphorically speaking)? If they don't manage to turn this around from the beginning of next month I foresee a collapse or restructuring taking place.

 

13 minutes ago, John Wright said:

But 40 flights a day is up to €3million in compensation. That’s a big attrition sum. Plus the reputational damage.

I will only be booking with a credit card that gives protection if they go under. 

[Nellie]

36 minutes ago, Banker said:

Cancellation are only a very small % of flights operated so don’t think there’s any chance of collapse 

Budget aviation is all about cash flow now, with profit only taken when the flight actually happens. They have just put thousands of flights, and millions of seats, on sale until May next year, in the hope that people will book and pay for them. Forward sales, and the cash they generate, are a key performance metric. Under their pricing model, good forward sales push up the price, and margin, on later seat sales. 

Their reputation, customer trust and confidence are currently in tatters, so a drop (maybe a collapse) in those forward sales is inevitable. Once that cash flow declines, they need the banks or shareholders to bail them out. There was a rights issue last year, to fend off a bid from Wizz. Since then the share price has tanked, so it seems unlikely that shareholders would want to bail them out again, without a change of management, or strategy, or both. 

As John says, they are losing c£3 million a day through cancellations and disruption at what should be the most profitable time of year. That won't be in their budgetary forecasts. It's not a good situation. 

They may well get things back on track, but right now, they are in serious trouble on a number of fronts.

[Andy Onchan]

35 minutes ago, 0bserver said:

 

I will only be booking with a credit card that gives protection if they go under. 

I wasn't thinking about individual passenger financial impact, I was thinking about how such an effect would have on UK domestic traffic. Last year they announced 12 additional domestic routes: 

https://simpleflying.com/easyjet-uk-domestic-expansion/

Have they met all of those commitments? I reckon, like FlyBe before them, they have over extended themselves. There'll be slots and other fixed costs to be paid for but if they haven't had the bums on seats or even worse the staff to service the flights then the finances won't be looking good.

Edited June 7, 2022 by Andy Onchan

[0bserver]

2 minutes ago, Andy Onchan said:

I wasn't thinking about individual passenger financial impact, I was thinking about how such an effect would have on UK domestic traffic. Last year they announced 12 additional domestic routes: 

https://simpleflying.com/easyjet-uk-domestic-expansion/

Have they met all of those commitments? I reckon, like FlyBe before them, they have over extended themselves. There'll be slots and other fixed costs to be paid for but if they haven't had the bums on seats or even worse the staff to service the flights then the finances won't be looking good.

You could be on to something. It's sensible to take individual protection against losses. 

[Banker]

45 minutes ago, Nellie said:

Budget aviation is all about cash flow now, with profit only taken when the flight actually happens. They have just put thousands of flights, and millions of seats, on sale until May next year, in the hope that people will book and pay for them. Forward sales, and the cash they generate, are a key performance metric. Under their pricing model, good forward sales push up the price, and margin, on later seat sales. 

Their reputation, customer trust and confidence are currently in tatters, so a drop (maybe a collapse) in those forward sales is inevitable. Once that cash flow declines, they need the banks or shareholders to bail them out. There was a rights issue last year, to fend off a bid from Wizz. Since then the share price has tanked, so it seems unlikely that shareholders would want to bail them out again, without a change of management, or strategy, or both. 

As John says, they are losing c£3 million a day through cancellations and disruption at what should be the most profitable time of year. That won't be in their budgetary forecasts. It's not a good situation. 

They may well get things back on track, but right now, they are in serious trouble on a number of fronts.

But it’s not just easyJet, it’s chaos across Europe including Dublin, Amsterdam etc. Wizzair , BA, KLM are all cancelling flights 

https://www.euronews.com/travel/2022/06/01/dublin-schiphol-manchester-who-s-to-blame-for-europe-s-airport-chaos-and-what-are-your-rig

i would be more concerned about Logan air whose proportion of cancellations compared to flights operated is higher 

Edited June 7, 2022 by Banker