Originally Posted by
mikea72580
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”.
Nice summary. Although one very important tidbit that no one has honed in on yet in this thread is the declaration of force majeure. They basically confirmed today that it’s declared on all parts of the PWA where it’s referenced. In regards to the furlough section, they said they can’t pick and choose when to use it, so it sounds like they’re applying it throughout the PWA. I’m expecting the MEC to respond to this as it affects much more than 1-month of furlough pay... (I.e. Scope, ALV/TLV etc.)