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I love to see so much un/mis information among a group of people who are supposed to be educated and smart enough to be liable for the 50+ lives behind them.
Chapter 11 is such a scam.
If airline pilots were business and finance savvy, they'd be making real money as financial advisors or business owners.
WHOA WHOA WHOA WHOA!!!! Ok 9e was a TOOOOOTALLY different ball of wax for a number of reasons. And we could very easily have ended up being shutdown too. SkyWest literally had a handful of their APD's ready to come pick up our planes overnight! When we went through ch11 the hiring boom had not yet started so our pilots where all faced with a choice between a concessionary contract and living to fight another day or the unemployment office. We took the contract/fight. If RAH management came to YOU guys looking for a 20-25% pay cut coupled with fleet reductions that will result in downgrades, whether it passed or not, people would quit left and right to go where the money is.Originally Posted by cf105
Yes, that's what they told my new-hire-at-the-time buddy at Pinnacle when it went Chapter 11, 6 years later, he's laughing, crediting 18 days off a month and on his way to Delta. I love to see so much un/mis information among a group of people who are supposed to be educated and smart enough to be liable for the 50+ lives behind them.
Chapter 11 is such a scam.
If airline pilots were business and finance savvy, they'd be making real money as financial advisors or business owners.
See here's the thing, and this is important. In ch11 it is the court/trustee's job to represent the creditors, NOT the employees or management. They are responsible to get as much out of the company for the creditors as they can. They can do that by either restructuring the company to live on and make some form of structured payment on an adjusted debt, or by liquidating and selling off the parts to pay off the debt proportionally. If the company is restructured and lives to fight another day, EVERYBODY must pay, IOW, the pain will be shared by all, management, frontline employees, pilots, creditors, contractors, etc. Here's the problem: without good pay AND growth/movement/upgrades, you can't compete with other regionals for pilots. If you can't hire FO's than you can't replace the pilots that quit. You'll have to contract and downgrade captains to cover FO flying just to keep planes in the air. Without something like Endeavors bonus program to stop it, you'll enter a death spiral and the trustee will convert it to a liquidation. Maybe a major will swoop in and buy you out of bankruptcy like happened to us, but it could VERY easily go the other way. I would NOT stake your career on expecting this to work out the same way it did for Pinnacle/Endeavor! I wish you guys all the best, but I caution you that it will get worse before it gets better, if it ever gets better at all. I'm sorry you guys are going through this, I can tell you it sucks and it will take a couple years to resolve. You'll get lots of grey hair in he meantime.
Good luck!