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Old 08-31-2016 | 09:53 PM
  #8443  
Balder
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Joined: Jan 2008
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From: Airbus Left
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Originally Posted by 3inthegreen
Maybe today, but right now they are enjoying having almost half the pilots on year 3 pay or less. Every year their labor costs goes up significantly. In addition to labor groups cost increases, by 2021 Spirit will have over 6.6 Billion in future payments on contractual obligations, that's more than a 700% increase from today where we are currently at 900 million. Spirit only owns 16 of our aircraft, managemeant is in the process of leveraging us up to a dangerous level.

Now that being said we will get significant pay raises in the next contract, we more than deserve them, the market demands it. All I am saying is that we will never get "industry leading" "legacy" pay rates while keeping all of our work rules. A basic calculator and their 2015 10K will show you that.
I like your analysis, but... I am clearly bad at math, so Cujo can call me an idiot if I'm wrong. But isn't the 6.6 billion cumulative for the next 6 years and beyond, with roughly 950 million+- in contractual obligations every year? Mostly "Flight equipment purchase obligations"? Basically our fleet growth that will enable us to make much more money than we do now?

Last edited by Balder; 08-31-2016 at 10:05 PM.