Originally Posted by
Big John
Correct. We can’t furlough pilots quickly enough to save cash, so a 50% pay cut is the only way to do it and possibly stave off Chapter 11. Granted, we may give up pay and go Chapter 11 anyway, but when it gets to that point they’re no longer asking. The danger of Chapter 11 is that they will legally steal from you and pay the banks while pocketing a portion for themselves.
As someone else mentioned, when management pay/stock buybacks/bonuses return, our pay comes back, too.
put your big boy pants on. Thats not exactly how the process happens in your first paragraph and the details make a huge difference. One is time and the timeline of this favors pilots
also, any SnapBack language will have loopholes and will be found. The pay won’t come back for years or a decade. Ask me how I know.
this is happening fast and they are conveniently capitalizing on fear. It’s not a good situation but signing up for massive paycuts two weeks in won’t save the airline and bankruptcy wont happen overnight. A bankruptcy judge handing out paycuts would take much much longer too and by that time we would all have a better idea of what the big picture of the world economy is.
I certainly hope you have a cooler head when it’s hitting the fan in the airplane