Originally Posted by
Denny Crane
Obviously there were a number of factors that led the company to declare bankruptcy. But if you don’t think getting rid of the pension was at the top of the list then you need to adjust your thinking.
Denny
Yes, there were a number of factors. The main one being we were about to become insolvent. Our DB was underfunded and met the requirements for termination. The company did not seek BK with an idea of dumping the DB.
Too many pilots think management gives us a second thought on their decisions. They don't choose routes/aircraft or any other aspect of the operation based on how it will help/hurt the pilot group. They are trying to run a business, and make strong profits, while maintaining quality and safety.