Originally Posted by
Jack Bauer
I think if an educated person with decent reasoning skills is to size up this agreement they would conclude 10 out of 10 times that allowing the company a 3 year lookback with an additional year to come into compliance was horribly shortsighted.
Hindsight is 20/20. If was our first major JV and it was the best that could be negotiated at that time. That said, the MEC is watching this closely.
A shorter measurement period would be great and they have done that with the Virgin Australia deal. Yes? Many say renegotiate the NAJV today, but those same people would scream if the quid was not 100 cents on the dollar. As of today no violation has occurred.
One thing that many pilots fail to see with the AF JV is that with the addition of AZ and us getting a 50-50 split that we negotiated, we also got downside protection that was absent prior to this latest deal. That is your enforcement mechanism and if it goes out of compliance that language is going to be key. Don't forget that. I believe the most recent article that was sent to you in box details it quite well.