Originally Posted by
rmr1992
"many of us suspect they'll drive us into bankruptcy to force us into a contract that's as bad or worse"
This kind of hyperbole is ridiculous. While I agree they have zero desire to pay us what we are worth, driving the company to bankruptcy just to avoid paying us is an absurd statement. The losses incurred in such a maneuver would far and away outstrip any "savings" from a concessionary contract. Think about it. This company generates just under 2 billion in revenues and turns a smallish approx average profit of 74 million (average the last 5 years,taken from the most recent annual report). With 1800 pilots, an average 40,000 per person raise is approx 72 million (which still leaves 2 mil in profit). Moreover the company has capital reinvested, on average, almost half a billion per year the last 4 years... therefore the $ exist to still grow the business, show a profit and pay us what we are worth. Thus the aforementioned statement really Makes no sense. Nobody takes a profitable company and drives it into the dirt just to avoid paying the employees. Let's leave the hyperbole to the gridlock and stupidity of the polarized politicians in Washington, they are way better at it anyway.
American Airlines had $4.1 billion in cash when they declared bankruptcy.
Those ACMI customer contracts you speak of that can't support an industry standard cba can be renegotiated in bankruptcy as well. That is exactly what Republic had to do in order to compete for pilots in the marketplace.
I'm not saying it is a foregone conclusion that Atlas Air will declare bankruptcy but the possibility is far from ridiculous.