Originally Posted by
nohat
After everything you have been thru you would think you deserve more. Last 15 years was bad and thats an understatement, If we have another 911 our contract can be tossed and the company can force things down our throat so fast that we could only hope for a 3year NMB delay, but as ALPA loves to say that was the best we could do during bankruptcy. So don't think that by getting this TA you are safe, the company already knows how to crap on any contract we have and any 911 event can make the company use forced majeure to get out of the contract. This is the most profitable I have ever seen an airline and its time to pay us back with no concessions.
So let's say the worst happens. What will our profit sharing pay out? Yup. How long will it take for them to come after pay rates? In the meantime I'm cashing those checks.
The conversion of PS provides downside protection and also keeps us participating in the upside if they remain profitable. I have no problem with how they structured the deal. It basically guarantees, as far as my bank account is concerned, that DL is going to make an$6B profit going forward. If they make less we look smart for converting at higher than 1:1. If they make more...we have it at 1:1 and are back into the 20% range again. It's the same math as 2012 and I have zero buyers remorse on that deal.