Originally Posted by
sailingfun
Well Carl here is section 1.E.3 you quote.
If the Company's ownership level (i.e., the percentage of ownership referred to in Section 23 1 B. 16. a.) in a foreign air carrier exceeds 25%, the Company flying block hours scheduled in any month between the United States and any country to or from which the foreign air carrier operates from or to the United States, will not be less than the Company flying block hours scheduled between the two countries in the same month of the twelve-month period prior to the month in which the Company's ownership level first exceeds 25%.
As you can see Carl we have a block hour floor and not a percentage of flying. That is a huge difference. The union has also put out several communications explaining this.
Just to add to your point ... the beauty of a Global Production Balance is that it codifies a minimum we must GROW with growth within the JV and in a worst case scenario it forces them to pull down the JV flying. Further, if someone really wants to do a deep dive they will learn that in a downturn the ratio ratchets up forcing them to pull down the JV faster.
I really like that we must be participants when the Company grows (even if it is some opportunity management has not dreamed up yet ... growth is ours at a roughly 3 to 1 ratio).