Originally Posted by
The Chow
Looking at Spirit's CA rates, a lot of our guys would take a pay cut until reaching the 6 year mark. I guess that's a lot like the concessionary offer given to our negotiating team last meeting for hours of service.
Steve-O in his letter uses Spirit and Frontier as examples for pay expectations. I think it's important to put how and when they got their pay rates into perspective. Spirit signed their contract 5 years ago. During that time frame, housing prices were in the toilet, airlines were going under and the one that weren't were losing millions and in some cases billions per year. Additionally, oil prices were double what they are now and unemployment was 9.5%. Spirit barely made just over $20 million for the entire year in 2010. Back in 2008, Frontier filed chapter 11 bankruptcy. Do some research and compare their profits to ours over the last 10 years. We are miles ahead financially than Frontier. We should expect to be paid accordingly.
5 Year Crude Oil Prices and Crude Oil Price Charts - InvestmentMine
Bureau of Labor Statistics Data
SAVE Annual Income Statement - Spirit Airlines Inc. Annual Financials
Frontier to Fly Amid Bankruptcy Filing - WSJ