Thread: What now?
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Old 08-19-2012 | 04:19 AM
  #21  
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The Chow
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From: 1st year pay for the 3rd time
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T,

My understanding is the PBGC was quick to tell AMR that they will not be able to just dump the pensions onto the taxpayers. I haven't looked it up myself but I was told that the % per ticket to fund AMR's frozen pension is less before bancruptcy than other carriers after bankruptcy.

Why would senior pilots lose anything if they leave? As long as they give proper notice they shouldn't lose anything correct? Or am completely bass ackwards?

TC



Originally Posted by tsquare
You raise an interesting premise. This is not flamebait, but rather a legitimate question. What makes you think the senior guys will be the ones to walk away? It is they that have the most to lose in that scenario. In the ruling, the judge stated that the average retirement is over $1 million. Average. That means some are worth more.. some less. It isn't hard to figure which ones are worth more. And as was also pointed out, the company offered.. to freeze, rather than terminate those pensions. So why would those senior guys walk away from that? Now if those pensions get terminated, you might have a point, but if there is still money in the bank.. why would they leave first of all, and second, where would they go?

Another question: Why is American running short on pilots? Is it due to temporary events like sick outs, or are guys quitting?


And if eagle's premise is valid.. not saying it is or isn't, and enough guys leave, my bet is that management would sell the remaining pieces to the highest bidder. His premise is that the pilots would force a fire sale, and ultimately a Chapter 7. All those 737 slots and the 777-300s you speak of are worth a lot of coin in that case, and the South America book is worth a small fortune. I get the burn it down feeling that is there, but all the forum bluster aside, what will be gained by going nuclear? Guys might feel better for a little while, but how long will that feeling last when you are looking to M R Rats for a job?

Again, the above is not intended in any way as flamebait. I am just trying to understand the thought processes that are going on.
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