Originally Posted by
justfun
Eagle Fly here is part of the deal contained:
-13.5% stake in the new company upon exit from BK
-3-4% Raise on date of signing, 2% per for 3 years then industry average to include Delta, United and US Air
-sequence protection
-Eagle gets 79 seat jets and below, with a reduction in ASM's they are allowed to fly pertaining to the narrow body fleet, 110% down to 75% of ASMs
-PBS with in the year
-60% of ASMs for code sharing
-per diem increase to $2/hr
-work rules were vague and not completely worked out.
This deal was worked out with Judge Peck in the room. He was not completely one sided, but you could see that he was leaning towards the company.
Hope this helps Eagle Fly
Have a great day. The future is unknown for many people, this is uncharted waters, no pilots contract has ever been abrogated in BK.
You forgot to add there will be no furloughs either! The DC plan goes to 14 percent. The equity stake alone makes the pilots one of the largest holders. I expect the judge to grant an extension of one to two weeks to allow the details to be worked out.
Certainly a ton of work has gone into this with both sides coming to the center. Hopefully, full details will be made public in the next few days and most can judge for themselves.
Best to all AAer's.