Fairline cutting staff

Jonathan, how the devil are you. Long time no see.

Didn't go to the show this year, the weekend weather was too good to go.

We've been out a few times this season, certainly more than last year. Probably done 80 hours so far. How is Stacey and the kids?
 
All are fine thanks Kev, James is now the handful that Sam was when we last saw him. I'll P.M you later or next week.

I also overheard Fairline saying that they were on 12 boats after the first weekend, not sure whether that would be up or down on previous years.

We were about even with '05 & '06 for number of deals, but this year the average deal value was up considerably with more people ordering SwimSpas. Last year was a freak due to the ITV1 film crews being on our stand for the last 4 days, I don't think anyone wanted to be filmed NOT buying a Hot Tub. That series starts incidentally next week, 1 year after it was filmed!
 
Sad, then. So that would mean rationalisation of the range, outsourcing of non-core activities, restriction of the development budgets, all the usual stuff.

Do you think we'll ever see Sunfaircessline as a rival to the Feretti group?
 
Yup, I think that tells you everything you need to know about the true state of the UK boating industry and not the bullshit emanating from the SIBS hype. Fairline are one of the strongest brands in the UK boating industry with a heavy overseas exposure and if they're laying off staff, then others will definitely follow
 
IMO Fairline dont come up to the other two.

Not a quality thing - just that they seem to me to have lost their way over the last few years - the 55 is great - just too little and too late.

Look at both Sunseeker and Princess - mid cabin boats throughout their range - very limited within the Fairline range and the Squaddie 58 should have been replaced years ago - great boat - just dated.

So my point is that there isnt room for a builder that looses his way.
 
Not sure I agree with you Mike

Having visited the Princess factory recently, it is still buzzing.
They build over 400 boats a year

I get the same feeling about Sunseeker as well although I havent been anywhere near their factory.

Dont be too keen to write our boatbuilding industry off. The top of the market still seems quite strong.
 
More likely IMHO would be that the Ferretti group or Azimut Benetti group take the oppurtunity of a depressed market and weak Sterling to buy Fairline at a cheap price. I guess a sell out was always in the MBO plan
 
Yes, but if the wheels are falling off the economy and either interest rates start to rise or their bankers get nervous about their exposure, they will have to make more effective changes than cutting some (possibly) dead wood in the workforce. I guess it would be interesting to know which departments saw the man with the knife, or if it was across the board.
 
Mike, I'm not writing the UK boatbuilding industry off by any means but this financial crisis is affecting virtually every economy in the world, not just the UK, and it would be a miracle if the UK boatbuilding industry came out of it unscathed. I very much hope that Fairline's job cuts are a one off but I fear not
 
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I very much hope that Fairline's job cuts are a one off but I fear not

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Agree. Aston Martin and Porsche sales are down 25%, Bentley are down 18%. I doubt Fairline will be an isolated example in the marine market, but by taking the tough decisions early they may have helped secure the future for the rest of their workforce.
 
Took the Rangie in for a service t'other day and was idly looking at new'uns (I was only looking, darling ok?).

Sales chap said the only ones they can sell are diesels.

His words: "If you want a supercharged you've got to buy off list. No dealer in the UK has one or any plans to stock any."
 
I personally think the problem with Fairline but also Princess which I see similar, but may be with better planning
is that they concentrated the market to a Med like boat and abandoned there core market a decade ago
how much of a UK feeling does Fairl boats offer
Sunseeker is on another level because IMO they always catered for that market with a British print, but Fairline and Princess have been much of a UK boat in the 80s and early 90s
the other think which I see, is that Fairline has become very expensive in the last years, offering a not very competitive product, unlike when the owner and founder of Fairline produced the boats it was much more competitive

IMO Ferretti want be interested to bet on Fairline it does like boats with an image of there own, but Azimut will be interested for sure and I'll bet they will be building Azimut brand and just splash the Fairline name which is a noisy competitor for them, but then I might be wrong on this

then 90 staff is not a lot, and may be it will all stay the same for long, we are just in a recession and slowing pace will be accepted from everyone
 
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