However, for a number of reasons including maintenance costs and pilotproductivity that weren’t correctly factored and (in the case of ourpro-rate contracts) rising fuel costs, our United/Continental Q400 andDelta/9E CRJ-900 contracts signed in 2007 weren’t providing adequate feesto cover our costs.Escalating expenses:At the same time, we were experiencing a substantial rise in expenses.There were a number of drivers that included:· Delays in integrating our three airlines, which ultimately delayed ourability to attain cost synergies· Not right-sizing our management and professional organization quicklyenough· Complications with the implementation of our integrated seniority listthat cost millions of unforeseen dollars in crew productivity and trainingexpenses· A new pilot contract that added millions of payroll dollars to ourday-to-day operating expenses but weren’t scheduled to be reimbursed formore than a year after the new contract went into place· Costs associated with the relocation of our headquartersTaken together, the unprofitable contracts and escalating expenses madeour liquidity situation very tenuous. To solve these problems.....
We've sold our boats, taken paycuts, downsized our houses, etc...
The sh*tty management and now they have the balls to try and fix it at your expense.