Just to be accurate, we have ratified four concessionary LOA's. Three occurred during our trip through BK. We received a multi-million dollar unsecured claim payment in return for those three. We definitely did not get all of our money back, but we received some pay back. We have never touched one work rule and all of our hourly pay concessions have full snap back provisions.

We signed LOA 67 in 2011. This LOA did not reduce any pay rates or change any work rules. We postponed one year of longevity and reduced vacation and sick accrual. Again, every item is restored to full book value eventually.

In return for the LOA 67 concessions we negotiated a profit sharing plan and an equity stake in Frontier Airlines. The status of both of these plans remains unclear at this time.

I can attest that not one pilot at F9 is interested in giving up our ROI.

We have never been "quick" to give up concessions, and our CBA is proof. Not one work rule change after a trip through BK and full snap back to full book rates. We still have a 9.2% retirement match, increasing to 11.2% soon.

We have never been the highest paid, but I believe we have managed to hang on to A LOT considering what we have been through since April 2008.