Originally Posted by
Qotsaautopilot
You guys realize the going rate is $245 right now and climbing with junior captains over $200? $230 at date of signing is too low and my guess is if it's in there is coming at dos +4 when the legacies will have $300 narrow body captains with a 16%defined contribution. Signing anything at $230 especially years after dos only puts you at the bottom again in just a year or two.
Spirit management made a proposal with $235 15 year captains. Not year 12 which is industry standard and junior captain was still around $150. On top of that it was all at dos+4 which would be 2021. The NC sent it out to the group to see what a joke it was and what kind of management we are dealing with.
United has a snap up to delta if delta ratifies something better and both united and AA are amendable in 2019. Do you really want to be bottom of the barrel again when the next round happens? I don't.
I think our pilot groups have more in common than you give us credit for. There was some cautious optimism when negotiations began but most people are starting to realize the company has no intention to give us anything close to an industry standard contract.
Management's response to our interim pay adjustment request during the next session will be telling. If they don't play ball I'm hoping the union has the courage to take the company into expedited arbitration for violating the contract.
Regarding the IPO, our contract fight is irrelevant. I have a friend from college who works as an underwriter for one of the big banks. I asked him if open negotiations with a major labor group would affect the company's valuation during an IPO. He said it was something the underwriters would take into account but it wouldn't be a significant factor. The institutional investors aren't stupid, they know how the RLA works. In their eyes they are getting the best labor rates in the country for a minimum of 4-5 years.