Originally Posted by
Flytolive
That is a good point. I forgot the APA pilots' pensions were frozen instead of terminated. But it highlights the role of politics in our success. AMR tried to terminate their pensions and the head of the PBGC said, "Not a chance." The American pilots benefitted greatly from timing and good political fortune in that regard, but some legacy NW and CAL pilots also have a frozen A-plans.
Trying to terminate the APA pension plan was a management fantasy. Their plan was 90%-ish funded in my recollection. There was simply no way AMR could make a case for termination. Wasn't politics as much as math. Timing.. yes in a lot of ways "timing" benefited them. IMO the most important thing was their A fund + B fund split meant less A fund to "fund." That said, it seems evident at this point that DAL could have reorganized AND funded our pension.. just maybe not in the time frame allowed by the rules. Have a great day gentlemen and ladies. Signed, Lostalotabucks, OFG