Originally Posted by
CMFIC
290- although we don't agree, I appreciate a coherent comment.
If you really believe pilots are naive for thinking this is a cost neutral offer, you may want to review recent comments made by the CFO (soon to be CEO) of Spirit Airlines. Keep in mind, the CFO has the ultimate situational awareness of a company's finances.
"Should the tentative agreement with our pilots be ratified, we will gain tools that will allow us to further improve our operational reliability and drive efficiencies, which gives us confidence that we will be able to maintain or grow our relative cost advantage,"
Pursuant to Securities Act of 1933 (SEC rules), section 4A, it would be illegal for an executive to make such misleading statements to the investment community.
Can we agree this is offer is trading QOL for an industry lagging pay rate?
I have seen that statement, and I believe he is telling the truth. I do not take that to mean that it is cost neutral. They are gaining the ability to avoid meltdowns or at the very least, reduce the severity. Cancelled flights cost the company a lot of money. They will greatly be able to reduce those costs. They also have locked in labor rates, and PBS requires less staffing. I believe that is their major gain in maintaining a cost advantage. The EF&A analyst said she anticipates about 200 less pilots for the current order on the books, that comes out to around 14 pilots per plane vs the current 16ish.
I believe we are trading some work QOL for industry lagging pay. However, I believe my QOL outside of work will be increased. We keep the red/green system which is our main tool for QOL, along with a lot more money to allow my wife to continue to stay home along with being able to provide my kids with certain things that I cannot provide them with currently.
If this thing does not pass, I will not begrudge anyone. I will keep hope that we receive a better offer.