My view on the compensation and retro is favorable. Retro makes sense within the context of those 3 years enduring a global hysteria. I believe it’s difficult to expect any significant increase in pay rates for 2020 when the industry was on a trajectory straight down into bankruptcy. Yes, Uncle Sugar stepped in to paper over what was going to be an epic ******show. But, I find it difficult to believe that Uncle would have appreciated Delta paying out significant raises to the pilots. 2021 was a stabilizing year and perhaps a modest raise could be justified. 2022 was a return to profitability and I think we are justified in getting whatever we can get.

The retro payout is really equivalent to a bonus for 2020,21, and 22, since the pay rates were unchanged. However, the equivalent pay rates can be generated as I show. The NC could have said we are making “pay rates” retroactive to 2020, along with future increases:

2020: 0%
2021: 4%
2022: 9.6%
2023: 7.7%
2024: 5%
2025: 4%
2026: 4%

I get why both parties in the negotiation would choose not to do it this way. Pilots have been conditioned over the years to look for big numbers without considering time value and inflation implications. In reality, small on time real rate increases over time would yield far better results than swinging from the fences from a deep hole.

While I will support the compensation aspect of the agreement, it isn’t perfect for me. A perfect agreement isn’t possible. I would have liked a little bigger margin on inflation on the out years:

2020: 0%
2021: 4%
2022: 9.6%
2023: 7.7%
2024: 6%
2025: 5%
2026: 5%

I think it’s realistic to seek a sustainable compensation model that preserves our productivity over time, and is achievable. That means a modest real raise over time best case, and worst case remaining at par relative to inflation.