Originally Posted by Karnak

I agree with you, but would like to add some clarification to a couple of your assumptions:

1. "…very likely…" is an opinion based upon what we can predict right now. The value of PS in an unprofitable year is zero. If we insist on being skeptical about our management's motives and skills, then doesn't it make sense to be skeptical about their ability to generate profits every year? And I'm not including geo-political threats or catastrophic events as part of that general skepticism…just our confidence in them.

2. I like your characterization of swapping PS for pay rates one-for-one! It's NOT a raise. It's a conversion, and I think we should always consider it as one. Your comment makes it sound as if there's no financial benefit to converting a once-a-year payout - with its attendant carve-outs in the formula - for a stream of paycheck increases throughout the year that are NOT subject to carve-outs in their formula. So I don't think we can call it a "zero". It's not a raise, but it's not a zero.

Put another way, if pilots were given an option in the PWA to convert PS for pay rates (dollar-for-dollar) on an individual basis for the duration of the next contract, do you think anyone would do it?

Other than me?