Sept 15th Townhall
Notes:
-VEOP cost $900M (Easily paid for by the Cares 1 PPP)
-MEC has supposedly agreed to some small concessions in exchange for a few jobs saved and small “QOL” items.
-There is a recent proposal that supposedly is receiving some “positive conversions” with the negotiating committee that would mitigate all furloughs.
-777 is gone. There is no flying on it in November.
-We can not break even by years end if revenue does not pick up.
-JL’s streak of under quoting revenue/loads is on-going. EB said we are 30% at Noon. JL says it’s at 20% at 4pm. Follows a consistent pattern going back months.
On the Furlough elimination, in order to save almost 2,000 jobs for 2+ years, you are talking about a concession that would be wide, fairly deep, and lengthy. I suppose more to come with that. I don’t think it’s reasonable to assume a program like that would be “voluntary”.