Why Flying Is So Terrible Even As Airlines Spend Billions | Big Business
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- čas přidán 17. 05. 2024
- Airlines make billions, but they also spend billions getting you to your destination safely. That's because making millions of inflight meals, buying new planes, and fixing up old ones is really expensive. And it's only gotten more costly with the spiking price of labor and fuel. So now more than ever, are airlines' sky-high budgets justified?
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Airlines Spend Billions, So Why Are Travelers More Miserable Than Ever? | Big Business
Did I miss something? I don't remember hearing Insider answer the question of why travelers are more miserable than ever?
precisely, thumbs down for this video.
This is straight up aviation propaganda. The comment that "it got the bailout to make payroll" shows the bias. The majority used the money to do stock-buy backs and enriched their executives. If the taxpayers are going to hold all of the risk for aviation industry, why not just nationalize it rather than giving these idiots the profit for worse service?
When 13 airlines existed now only 4 do thanks to consolidation and a DOJ asleep at the wheel in preventing this consolidation. It is only after consolidation that United pioneered the Premium Economy and paying for checked bags. And now they complain about losses. They have become fat, dumb, and happy and treat passengers like crap. United is the worst.
Yeah, I feel like this is a sob story piece.
That’s what we should be wondering
When 40% of your budget is masked under 'other'.. there is something fishy going on
Airline Sr Management bonuses :D
Stock buy backs
spider the ohio went to a hoppa log ahuh... jones? jones?
They needed a bailout because they spent an absurd amount of money on buybacks for their investors. Sipping all the profit out so when pandemic hit they wjere account naked
There's nothing fishy about airlines banking up money for later. There's reasons not to disclose exactly how much of their annual budget they're putting towards savings: competitors can usually figure out you're planning some sort of big move if you're bankrolling money, and investors always take saving up money to be a sign things are about to go to shit, so it's bad for investor confidence. When your daily operations require lots of money to run though, you need huge amounts of money set aside in case shit goes south and the government decides not to help you (ex. Virgin Atlantic during the pandemic). The video already said multi-billion dollar losses in a single quarter aren't uncommon in the post-COVID world, and both real-world loss data and the public image blow they took by asking for a bailout during COVID means airlines are likely making larger rainy day funds.
The video also mentioned explicitly that part of this goes to insurance - both to a third-party insurance company, and a reserve set aside for payouts that insurance may not cover. Stuff like employee disability, compensation in case of passenger injuries/fatalities/lost property in an accident, etc. If you don't set money aside for that or take up a policy, then one bad stroke of luck can ruin your airline's finances, as Lockerbie did for Pan Am.
Also not listed there is upkeep for actual properties an airline owns, like hangars or lounges. That's often property bought outright, not bought/bid/traded like landing and gate slots. New products were somewhat covered, but big stuff like Qantas' Project Sunrise isn't always in the works, and costs a lot more money than just updating the in-flight menu. Those one-time R&D costs are also something airlines need to save for.
Love how pilots, flight attendant, and baggage handlers get pay raise, but mechanics pay has remained the same since 2005, and corporate refuses to remember they have to pay mechanics
can't wait for the mechanics uprising
Liberté, Égalité, Fraternité
Not sure where you're getting 2005 from when American Airlines and TWU-IAM reached a new contract in 2020...
Agreed. They get treated like trash, yet if they mess up or not do their job 10000% the bird comes crashing down to smoky hole airport.
Fight for your rights, then. Join a Union, go on strike.... very few employers give voluntary pay rises without being asked more or less friendly. "Only" complaining about someones elses payrise MIGHT lead to yourself getting a payrise, but I wouldn't count on it.
If 40% of costs is masked and the focus is quickly turned on labor, you know something funny is happening. To be frank, nothing in the cost breakdown is a red flag. In actuality 30% for labor is cheap, even though the tone of the reporting is biased
CEO etc. pay probably not accounted for in “labor”.
I am surprised airlines haven't turned to robots for some of the jobs. Like the people that put the bags onto the airline. I am pretty sure you can get a robot to do that. Grab it from one place and then put on airplane. Even with the cooking too- you could have robots assembling the food similar to what food factories do. Robots do a lot of the work in food factories. Also I have to say--- that the airline food no matter what in economy class sucks. I meany really sucks. Now if you go into business class or first class, then the food is way better. Then lastly, the seating on airplanes sucks if you are in economy or even economy plus. They should just give you more room for you to spread out in front of you no matter what.
@@boohere2 if all bags were the same size maybe. But they arent. I ofen see bags that are basically balls with how the are wrap for plastic, and the size limit on the cargo pits vary. In a 777 manual bulk pit I can stand almost completely upright, and im 6 feet tall. A 737 is maybe half that. And the foward pits on a CRJ jet? Human can only fit if laying flat. Bags for that are loaded onto trays and slid down. And we do more than just load bags. We provide important safety functions in acting as another pair of eyes on the airplane to see if something is off with the airplane
@@boohere2 ok then go design a robot that does that… if there’s an opportunity someone would have already done it
I thought 30% on labour was rather cheap. I had expected closer to 40%.
I always like how they say airlines make "razor thin profit margins" yet somehow executives never seem to take the brunt when times are tough.
Because those who are invested in Airlines, use it more as a storage of wealth than a growth one.
Many investment banks, hedgefunds etc have a small %age of their total investments in Airlines, so when Airlines make a loss, it does not affect them.
I used to think that "yes, I would like to earn this level of salaries", but having worked in different sectors.. It is even harder, to train the next generation to actually carry on carrying that baton? Extremely hard actually. And you have to ask yourself, how come, these people know what to do, and how to do? You do not. This is a situation of.. several groups of experienced people to put into place, and processes to ensure that every single thing is done to the tee. THAT is what this is... but what does that do for the average man? It doesn't. While we can and have literally moved a lot of goods around the globe... and store them... in warehouses. Well... we literally cannot.. If you think about it. How old are these people? They are just around their 30s or 40s... It just means that, we have a lot of people to make something work.
It like that for all mega corporations, especially in the US
@@CoolMan-ig1ol the airlines business is not flying passengers, their business is selling points and flyer miles to banks, credit card companies and such. That’s where they make their money. That’s why they do not care about the comfort of average passengers. They just exist to cover costs of planes and such.
Wait what? Didnt many airlines suffer during covid lmao
All the engineers in the repair room for Delta earn together less per year than a single executive for Delta. "Some of them earn 6 figures?" executives earn MILLIONS.
Give me a break from this anti-labor BS.
They forgot to mention the CEO's multi million dollar salary and extensive bonuses. Then there's the other board members...
Of course they did. It's "Business Insider" doing the story here lmao
Yeah I was thinking about that at the very beginning, "where does all the income go in -blank- business?" And I always think "million/billion dollar CEO's" each and every time
And?
@@user-fq4oq9qv7b And the rich get richer and the poor get poorer.
@@Eusantdac way the world has always worked, and will continue to work.
Airlines don’t operate on razor thin margins, the industry as a whole has a roughly 13% profit margin which is massive. Airlines are incredibly profitable and are jamming as many seats as possible and reducing services to squeeze as much money out of us as possible. The reason people are unhappy is because airlines treat people more like cargo than humans.
If you account for the risks and average out recessions the profit margins decline significantly. People get what they pay for.
13 percent is not a massive profit margin at all, 10 percent is considered average. good is anything above 20 percent. i see you have never ran a business have you
@@zesolodar clearly you haven't, because "good" is around 10%...nobody makes 20%+ unless it's a small business that brings in little revenue anyways.
Their margins are not that high.
@@linusmlgtips2123 i run a business with 7 mil in assets make well into the six figures and im only 32- tell me about your company. no company makes 20 percent ok lets see coca coa- 23.44 apd is 20.33 and there a re plenty that hover in the 18-20 range. i can go one but that proves your statement incorrect sorry your clueless. im not saying 10 percent is bad im saying calling it massive or good is not correct
I don't care about the meal, all I care about is the plane arriving on time and get me to where I need to go on time. That and not having an oversold flight.
I'd prefer a safe plane too
And there are other customers with other preferences beyond just getting there on time, and that can't be ignored either.
Uh ok, but that does make me wonder what the longest flight you've ever been on. I've been on a 16 hour flight, comfortable seats and at least not bad food kinda help when your stuck in a tin can for 16 hours.
I mean yeah on a quick 2-3 hour trip it’s not exactly a priority. 8 hours plus?? Yeah you don’t want gross food.
U sound like life's been really Really Cruel to U :(
But don't U worry ... coz Jesus, the Son of God, The Almighty, loves U anywayz :)
"Taxpayers spent billions bailing out Airlines. Did the industry hold up it's end of the deal?" - I like how BI completely glossed over this entire article after mentioning it as a source.
Exactly. Bloomberg estimates 400,000 airline workers were fired or furloughed during covid and this video said they used the bailout to pay staff?
I was like "why tf are we bailing them out????"
I am a frequent flier and mostly fly in economy. I really don't see that airlines would try to make the flying experience better on economy class. Seats are getting smaller, legroom is limited, food is poor with most airlines, unless you pay pretty penny to fly on premium economy or business. I normally bring my own food for transatlantic journeys. Only thing that has gotten better is the inflight entertainment, with the larger screens.
This channel always portraits the bussines in a positive light. Since that is how they get their in deep interviews.
@@lucaskp16 True, hence we never seen a clip applauding about a new and improved economy product, since those are nonexistent :D
@@PakaBubi dont gte me wrong i love current aviation. is safe and cheap. comfort is a nonfactor when we can go to another country for this price. i am from Argentina and we don't have low cost carrier and that makes me envy europe a lot. airline comfort is a first world problem. for third world countries the possibility of flight at all is a marvel.
No choice. They have to maximise profits as its super competitive amongst airlines these days.
I am also a frequent flier and mostly fly domestic first class. On anything other than a transcon flight on a widebody, it’s not a whole lot better up front. Certainly not to a degree commensurate with the price difference. (Sent from seat 3B on a three-hour United flight on which first class was $1600 vs $340 for economy. Only meaningful difference is a wider seat with some more pitch.)
40% of the spending isn’t even listed. CEOs ranking in bank as per usual
Yeah exactly, it's literally about extracting as much profit as possible, free market capitalism is done.
Umm most of them dont get paid salary they get shares
@@diegorjalvarado shares ARE money. It's like if I payed you in gold or property it still has buying power.
@@Totalinternalreflection just had to comment on the aphex twin pfp, you got good taste
I am surprised airlines haven't turned to robots for some of the jobs. Like the people that put the bags onto the airline. I am pretty sure you can get a robot to do that. Grab it from one place and then put on airplane. Even with the cooking too- you could have robots assembling the food similar to what food factories do. Robots do a lot of the work in food factories. Also I have to say--- that the airline food no matter what in economy class sucks. I meany really sucks. Now if you go into business class or first class, then the food is way better. Then lastly, the seating on airplanes sucks if you are in economy or even economy plus. They should just give you more room for you to spread out in front of you no matter what.
"Some mechanics make six figures" ...I sincerly hope EVERY aircraft mechanic makes six figures...
So tired of bailing airlines out and then getting smaller seats, overpriced tickets, and bad service in return (dividends aren’t great either so who knows where it’s all going).
@Ned Steinberger I just don't fly. If humans were meant to fly, we'd have wings. Catch me in the sky, you can't.
@@jadecoolness101 that's the stupidest reasoning for not flying that I've ever heard lmao.
@@user-fq4oq9qv7b You must be a pilot because you seem mighty offended that I'm not giving them money
@@jadecoolness101 lmfao 🤣
@@jadecoolness101 so you just walk everywhere? People also weren’t supposed to be going fast across the ground in metal boxes so no cars or trains. Also no boats, bikes, scooters, or skateboards. Not a good reason to not fly.
TSA added about 99.9% of the misery factor. I flew a lot pre TSA and there was a big difference. They added hours to the process.
That is a group of people I strongly dislike.
Security theater at airports sucks. Wish they would actually do something for how many hours of my life has been wasted in TSA lines
It takes me about 15-20 minutes to get through TSA when it’s a longer line. It seems very simple: put yourself and your stuff through a scanner, and, if you’re “clean”, go on your merry way.
@@anatoliagolden-hall4553 90% of the time I spend in tsa is waiting in the line. If 20 minutes is the longest line you’ve been in your lucky, not efficient
@@EthanDurant Way more time is spent waiting at the gate to get on the airplane, than waiting in the TSA line to be scanned. Plus, people have the option to get a TSA “fast pass” if you pass an FBI background check. Maybe you’d want to look into that?
When I was a kid in the 60s dad worked for Braniff as a painter. He was unlicensed and we had a new 3 bedroom house . The payment was $120 a month he made $40 a day so the house cost about 3 days pay. I worked as a painter at American in 98. My pay was $9 per hour. My RENT was $550 month.I also was an A&P . Anyone saying that we have a better time of it I just use what I can see.
US Airlines can also rely on the government for bailouts for repeatedly making bad decisions.
not really bad decision if the government will bail you out
Bailouts is a "yellow journalism" term. They were LOANS paid back in full.
(⊙_◎)
dangDEMOCRATS!!!!!
@@Zeevuhl the airline bailout was signed by Trump.....
They're blaming high labor costs on the people keeping airports running and not their own CEO pay. 😂
Umm airlines dont pay the people who run the airports lol
@@diegorjalvarado Not directly, at least.
@@diegorjalvarado the people who keep airport running (workers), not the people who literally run them (owners)
Surprised stock buy backs isn't on here
no wonder flights are so expensive..
I believe that you answered your own question in the first few seconds of your video. We’re no longer in the “Golden age of flying.” Many flights attendants are just rude at least in the U.S.
Ah, the golden age of flying! I remember when airlines would put a miniature 4 pack of cigarettes on every seat, with mommies barging down the aisles, to remove them, before their delinquent kids got there,. Tobacco and alcohol was served in the name of safety, to keep passengers sedated and relaxed. Today? A 40something hag snarls, "Siddown, Shuddup, we're outta booze." Looking at you, American Airlines.
Working hangar 1 A in Tulsa we were getting good at 737 checks. We had a meeting where we were told by the manager that Timco was doing the work we did at $900,000 a check for $200,000. We had to send mechanics to get the aircrafts airworthy after they worked it. We had a hospital line to fix the screwed up work. I asked the manager and it took them 28 days to screw up our aircraft. We did a great job at 11. The monetary difference was $700,000. Doesn't it cost the airline $50,000 each day it is out of service? He said no it's closer to $1,000,000 a day. I asked WTF? MANY millions would be saved keeping our work in house. He says we don't figure that in . And you are the boss ?
I fly in and out of TUL all the time. Thanks for keeping the planes safe!
Bloat. From ill-made decisions on the managerial end.
Across the pond it seems like were starting to have management realising good manpower doesnt come cheap after 2020 mass exodus from the industry.
Ive had poorly maintained aircraft come through in the past and you can end up spending double the time just removing the part that has been incorrectly installed.
exactly !! This industry is rotten to the bones, I can only see greed and stupidity.
In the end u realize they have CRAPTON of money, and they just dont care. They keep telling you it costs a fortune when aircraft is on the ground for a day, but why bother with couple of millions when you're hauling in trillions.
A large reason for the useage of light colours is not only to reflect sunlight but because the pigments in dark paint are simply heavier overall. And when a single coat of paint is so heavy, that adds up hugely in terms of fuel efficiency.
"Lighter colors are lighter"
Cant tell if this is sarcastic or not
If 45% of expenditure is under "other" - that's where they need to look for cost cutting opportunities.
They spend they're money on stock buybacks and lobbying
One major U.S. airline boss was bragging about how they're profits from the most recent quarter were a record, and how they were able to increase fares by 30%. Kind of ripe considering the U.S. government basically subsidized the whole industry for 2 years.
the "glory days of travel" totally forgets to mention that it was crazy expensive to do so....
When airlines lost billions of dollars in pandemic, taxpayers have to bail them.
But pandemic doesn't happen all the time, whilst airlines made billions of dollars in decades and they never mentioned that or shared their profit to taxpayers.
Good grief !
When I fly from Canada prior to Covid meals were never included with your flight…just one little snack and a non alcoholic drink. It is optional to pay an outrageous price just for a sandwich…but not a meal package. I tend to eat prior to the flight and will purchase a sandwich and snacks at a restaurant once I get through the gate to eat later.
Cool story. Maybe you should make a novel out of it.
It would only be a short story…The End.
Waitresses in the sky? When the excrement meets convection they're there to save you. We literally trust them with our lives, would you trust the Starbucks guy like that? No, of course not. But we trust the cabin crew, because they're professionals, not wait staff.
Right? Calling them waitress seems a bit offensive to all the training they do to save hundreds of people in emergency, they're the first responders on the sky.
Airlines probably spend their money on "cost-cutting"
I love how people are looking at the bad instead of good engineers are the ones that needs a raise there basically making sure your engine is fine and good
Maintenance seems important, but the budget says otherwise.
Seriously I expected way more.
I work for Emirates in Dubai as cabin crew. Honestly love my job! I was working as a consultant in IT before I joined... 8 hour days everyday. While I was allowed to choose my own schedule as long as I would hit my targets, flying feels like I have so much more freedom. A 6,5 hour flight to Mauritius feels honestly like 30 minutes. Our passengers are always amazing and love to take pictures with me weirdly enough, haha! I feel like a celebrity sometimes.
I’ve thought of working for Emirates but I’ve got tattoos lol I’m glad to hear people think it’s awesome tho!! I’m jealous
Stay Blessed !! :)
You sure you were working at the gulf?
Nothing I hate more than GCC flights and 100+ kids on CAI flights running all over the plane during taxi while their parents give you their “LV” bag to put in the overhead because they can’t be bothered
@@MandoMonge I guess I am sure, kinda feels like a dream tho.
Most people that are flying have not had too much sleep. This can result in them not looking out for their children as much as they would usually do. There could be a million reasons. Anyway, it is fun to see how the children still have so much energy and are excited to fly. You could see everything as a negative but then I'd advice looking for a job where you do not see any people.
Dubai is a fake city
Spend their billions on shareholders, CEO pay, stock buyback, Ads, political bribery, etc.
There’s a reason why 40% of the spending is not even shown lol…
has anyone else realised that there are 4 'b's in the title lol
People probably want to get on the flight they paid for, not wait hours, and not have their belongings damaged or lost.
"How Airlines Spend Their Billions" ~ Leaves 2/3rds the budget ambiguous. Nice.
Emirates first class ticket could costs up to $10k on some routes.
yeah thats a cheap one. it's like 20-25k from Australia to Europe
Maybe if they didn't spend so much overpaying their CEOs and doing stock buybacks they would be able to spend more on better service.
You forgot their billions spent on stock buybacks
Which just about equaled the money they needed to stay afloat during Covid. But instead, the did buy backs and got yet another bailout
I was expected to be more wowed by the close assist on Delta planes. The A380 has a fully automatic closure option on overhead bins.
I really enjoyed this video prior to the ending montage, where it showed Virgin America narrow-body planes (VA merged with Alaska 2+ years before the video was made) and Delta 747s (last flown in 2017).
I love how they always say you don't skimp on spending to make sure it's safe and we have boeing going yolo on cutting cost.
We forget that the same companies that received bailouts also did massive stock buybacks.
They could have kept that money for a rainy day. Instead they did a race to the bottom tactic that left them dry and hurting for cash.
wth. i've NEVER had this nice of an experience on an airline. this isn't representative of the usual exp 😂
Right?!
The Airlines profit margins aren't coming from the Operation and ticket Revenues it comes from the financing and collaborations with big banks and especially credit card companies that use and incorporate airline miles into their credit card business models!
00:49. Smoked as much as they wanted is the golden age of flying?????????
"Keeping you comfortable in the sky" unless you're 5 ft tall or less, there is no such thing as "comfort" on a tin sardine can in the sky.
It was even worse with mask mandates; you're already uncomfortable, now your breathing is restricted and you have elastic bands digging into your ears.
Not by paying their employees a living wage or giving their customers a quality experience.
Oh yes. Living wage
Well their employees definately get paid a living wage. Just not a wage equal to their efforts, because sometimes your work is worth more than peanuts
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I'm gonna watch this but we all know airlines are overpriced and still screw the consumer.
spider the ohio went to a hoppa log ahuh... jones? jones?
People just complain about everything. It’s a flight not a resort
There was a lot of information in this piece about what airlines are doing but not a lot about why most travelers are miserable when they fly. Honestly, it seemed like PR for the airlines and not a real look at why the passenger experience is so bad.
I'm glad I came home alive from our trip. Safety is important to me. I don't care about comfort, just wanna come home alive. 😘😇
This was great. I had no idea. Big flying restaurants.
Overbooking should be illegal !
If overbooking should be illegal, then no showing for a flight should incur a penalty. You cheated them out of the money you agreed to pay and left them no time to get a new passenger, you should pay a fine for being a deadbeat.
Queues, delays, overbooking and cancellations are at the heart of travel misery.
Would've been interesting if Business Insider disclosed that this video was funded by an Airlines Interest Group
Nice to see how airline companies work from the inside. I knew there were a lot of people working in aviation, but so many.
I'm a pilot with an Indian airline. Here's something that'll make Indian airline travelers feel more comfortable: the training you see being given here to cabin crew is of very high standards and hence costs a lot of money and takes a lot of time, and is therefore not given to Indian airline cabin crews. The training given is very substandard and mostly on paper.
"I am Indian and want to come to America."
@@anishannayya1 what am I, a visa agent?
After flying with multiple airlines across the world I can safely say flying in India and most of Asia is better than the West. Our pilots and crew are top notch, they are warm and smiling. Free checked in luggage, free cabin bag , sometimes full serviced otherwise very affordable on board food are some of the amazing perks we take for granted. Our prices are still alright, of course I wish it was cheaper but still not too shabby, my employees travel by air now so that says something about affordability. American, Australian and German crews are the worst in my opinion. Oh and also security checks in India are thorough but they don't scare and bully people like TSA in America. That makes a lot of difference too. And if you fly international, immigration has become such a breeze whether departing or arriving.
What a rubbish comment! Maybe you fly for a substandard airline, that imparts substandard training to your cabin crew. Most Indian airline cabin crew go through training for over 60 days and only on 3 aircraft types which is set by the regulator, and which is not the case in the West.
Also talking about Indian pilots and their perks, maybe you should refuse staying in 5* luxury hotels on a single room basis during layovers, while the cabin crew are thrown into 2* motels on a sharing basis. That might help your airline cut costs and save more money, and turn a profit someday.
The only time I flew Copa airlines domestically in Columbia, they let me take my coffee thru TSA ☺️
Thank you for sharing..I come from a nice legacy airline out of Chicago. It has been so nice being with United Airlines.
As Tristan Tate said back in the 1900's flying was expensive and only the rich people could afford it. Now the luxury is still there but you have to pay thousand's of dollars to get the luxury of flying in the wide cushy seats with luxurious food.
"Other expenses" stated is taking care of the CEO and making sure all the higher-ups getting nasty nasty bonuses
Technically, Rolls-Royce have the largest engine test cell in the world in Derby (Test Bed 80)
with that fleece vest on and the torso dummy, the CPR training looked JUST LIKE THE SCENE from the office.
First time i know cost breakdown of airlines. Thank you.
Flying long distances in economy class is such a miserable experience ...I'm not even tall or big but it's just so cramped, and the seat's so weirdly shaped that it hurts my back and neck that I'd even find plastic bus seats more comfortable to sit on for 9 hours
One of my favourite channel, new and fresh content always.
How come I have never seen airline food that good?
Edit: I wrote this comment because I wondered how western airlines over in American spend their money and not to complain.
Cause you're flying on Western airlines.
@@Lucky8s hahahah ong tho
That's Emirate airlines, Dubai.
Fly business ....u will see🤪🤪😝😝😝😝😝
Because you're not wealthy.
If airlines really cared about "wellbeing" of customers they would give people in economy more leg space and reclining angle. Especially long haul flights.
But no they stuff people maximumly and with absurd seat widths.
"they are pouring money into keeping customers safe and comfortable" meanwhile they're shrinking the seats every year, but ok
I hate people who recline a seat in my face.
Travelors are miserable due to crowded planes, poor customer service, cancelled flights, shrinking seats and poor legroom.
The seats are too damn small. I've had 3 panick attacks on planes since they squished the seats. I refuse to fly now.
On stock buybacks to shareholders to increase stock value and larger dividends. That is what they really spend their money on.
This is the real answer
I used to work in the accounts payable section for a major international airline and can tell you that almost no airline pays the prices qouted for aeroplanes, they can pay as low as 10% of the 300 million your qouting, and airlines rent a huge amount of their fleet from companies like Aercap and others.
10%? Is that for a brand-new aircraft? Thanks in advance!
@@yengsabio5315 no thats probably used
@@yengsabio5315 yes it was new on the two contract purchases we did and it was such a low price because of the volume of the purchase and the timing of it. airlines pay much higher prices when they dont plan ahead and either opting to have long delivery times or if they are placing purchase orders when manufacturers have full order books.
@@currygod4117 No. it was new on the two contract purchases we did and it was such a low price because of the volume of the purchase and the timing of it. Most of the airlines play one company off the other if they can, say for instance boeing gains huge orders from a company and airbus doesn't some airlines will use that oportunity to approach airbus and try to hammer out a deal so that airbus can announce similar order figures for shareholders to be appeased. most companies will never buy second hand planes as after certain amounts of hours the entire engines need to be striped to bare parts or even replaced its at that point they lease from the aviation leasors who have to take on those costs which are huge. the montly rent for the planes in the company i worked for weren't actaully that bad considering the average monthly spend.
The only good thing that has improved in flying now is the actual plane and pilot training. They are more efficient, can fly longer, safer, and have better entertainment. The rest has just been terrible, smaller seats, higher prices, bring your own food even on flights over 4 hours, baggage fees, pay for selecting your seat, cancellation fees, change fees, little to no legroom, overbooking, long lines, overcrowded, long delays, dirty planes, rude personnel in some flights, poor customer service.
Insider here to remind us that when a corporation is failing the government will bail them out to keep them afloat for the rest of us we have to fight for every inch.
Biggest companies in the Airline Catering Services industry in the US. IBIS World covers 3 companies in the Airline Catering Services industry, including LSG Sky Chefs, Gate Gourmet Canada Inc. and Flying Food Group LLC.
As a frequent flyer. I always enjoy my flights: on-time, the food is good, the service is good, every flight experience is always good, as expected, baggage handling is so-so (they broke one of my luggage, maybe i had a cheap luggage) and price is always reasonable.
If the profits are soo slim and elusive, why on earth anyone would run one?
There is something that doesn’t meet the eye in this documentary
Wow. VERY informative video here
More channels could take note of insider. High quality and actually interesting content that is consistent.
I agree
I’m tryna get insider…… wait wat
Makes me miss great big story
I was like.... I don't remember being given food or water on my last trip... Then, I saw "Qatar Airlines"...
Yeah, America losing on almost everything.
im pretty sure the taxpayer pays for qatars largess as well
Love how they said about how people are not happy but then starts with one of the most expensive airlines ever and most of the population of the world that flies doesn't have 3k for a first class seat, out of touch, show us the real planes that are falling apart or have seats that give no leg room
Great video :]
Airline caterers generate revenue through the provision of full meals, beverages, snacks and other items, such as cutlery, napkins and cups.
BTW that 12,000 piece of metal is because there are very few companies that are able to make those parts and machine then. The tolerances required for aviation are as strict as they get and the metallic structure must be formed from a single crystal which is already hard on it's own, imagine shaping it.
I don't know why people think flying is supposed to be cheap. You do realize you're... flying, right? In a metal tube in the sky? That ain't cheap
I don't care how good the food is or how much the staff smile. I care about one thing: space.
Literally. The staff can be as rude as they want and I wouldn't care one bit as long as I have room. I'm a pretty tiny person with short legs, and even I feel incredibly uncomfortable during flights. I can't imagine how much worse it is for average or tall people.
They should get their big boss to sit in a normal economy chair for 10hours.
Thanks for showing the Tunisian airport as a message/place for the dissatisfied people.
It really hurts to see our airport in such conditions..
very insightful...
Certainly some COI but overall good video, well presented
Your talking about pre tax profit as if they pay tax 🤣 Im not sure if we are suppose to feel sorry for them ONLY earning $1,000,000,000 "pre tax" profit in 3 months, do they have any charity boxes in the local i can donate my change to?
Is it really a question why people hate airlines? You get greeted by extremely rude TSA agents who molest you with machinery like your criminal, you get smashed into a tiny seat, nothing is complimentary anymore, the quality of everything is terrible and the employees treat you like dirt. The planes are class segregated instead of giving one good service, it's basically prison transport. It's unbelievable the service used to get 60 years ago verse today. It's like the difference between a lobster dinner and a dry cheese sandwich. Welcome to corporate America
Really interesting video
Very interesting. Thanks.
I guess stock buy backs fits in 'other'
Lol facts
11:14 - The pilots totally deserve those wages! Also, the fact that others got a 7.5% raise is NOT a good thing when prices are going up at 9% a year these days.
Mostly needed by the pilots to pay back the massive training costs they take on pre- and early-career!
Can't believe they used The Office clip for the CPR segment 😂