nightrider 13 #25 Posted October 8, 2020 52 minutes ago, Janus said: It has been reported that it is the first time in the company's 25 year history that Easyjet has not made a profit. Apparently they are facing losses of more than £800 million. https://www.bbc.com/news/business-54454202 I'm starting to get worried we are going to see major civil unrest in the months ahead. With so much unemployment and little or no financial support people may snap. They will already be very stressed because they know people who have died or had serious illness due to covid. Share this post Link to post Share on other sites Share this content via...
L00b 441 #26 Posted October 8, 2020 1 hour ago, Janus said: It has been reported that it is the first time in the company's 25 year history that Easyjet has not made a profit. Apparently they are facing losses of more than £800 million. https://www.bbc.com/news/business-54454202 Most airlines are down over 65% on activity since Feb/March (Luxair here just reported -69% today). Profitable as airlines (esp. low cost) may have been before that, they weren't exactly operating with fat margins to start with - much of their profit was probably made from forward-playing the fuel market with derivatives. But the ar5e must have fallen out of that one unexpectedly, since not that much air fuel will have been burned in the last 6 months. Share this post Link to post Share on other sites Share this content via...
tzijlstra 11 #27 Posted October 8, 2020 (edited) 3 hours ago, nightrider said: I'm starting to get worried we are going to see major civil unrest in the months ahead. With so much unemployment and little or no financial support people may snap. They will already be very stressed because they know people who have died or had serious illness due to covid. I don't think this will happen soon (although there is a chance it will at some point). Tech giants are rapidly gaining resources, I have a feeling that we'll see even more of a significant realignment of our economy towards the Google (Alphabet), Amazon, Tesla sphere. There is a major problem there - none of those businesses are UK/EU domiciled. I'm going to really, really hate myself for saying this, but Trump's strategy of 're-Americanising' the global economy is going to pay off for them big time. Screw the environment, screw inequality - the filthy rich get even filthier, the poor get even poorer and this time it isn't due to a skills/knowledge gap, it's due to monopolies created by (our!) poor economic policies of the past decades. Edit: Just to add: The issue is that the old stalwarts of our economy (economies, also including EU because I am me) are dying on their feet. Edited October 8, 2020 by tzijlstra Share this post Link to post Share on other sites Share this content via...
Janus 28 #28 Posted October 8, 2020 1 hour ago, tzijlstra said: Tech giants are rapidly gaining resources, I have a feeling that we'll see even more of a significant realignment of our economy towards the Google (Alphabet), Amazon, Tesla sphere. The billionaires have apparently done very well during the pandemic https://www.bbc.com/news/business-54446285 @nightrider I too feel we will see significant changes in society as a consequence. Hard to say at the moment specifically how that will manifest it's self. Share this post Link to post Share on other sites Share this content via...
