Originally Posted by
Tx Paratroopr
The only people losing out on 25k in 6 months are first year fo's that would be moving to the new 2nd year pay scale and even that's a stretch. I don't think any other scale Is taking that big of an increase. I also don't see this dragging out as the company needs this deal more than we do. They said In the beginning they want a deal by March. For most captains to make up the difference in pay it's equal to picking up a two day or a few turns and for fo's it's even easier with 200% being handed out like candy.
One way or another, the NK pilot group will be back at the negotiating table in 18-24 months. A 3 month delay would make sense if there were a realistic prospect of recouping in the remaining 15-21 months what was lost by not accepting the first deal, but the longer this drags out the bigger the eventual gain must be in the remaining time to justify it. And the fact that it is only a two year deal means you have to look at it differently as well.
The company recently took out a $600 million loan,
https://industry-update.com/spirit-a...w-debt/186114/
and this deal will absorb about 80% (considering finance charges) of that. MIGHT we get more of that $600 million if we turn this down? Maybe, but who knows? More than that? Not without a delay for management to come up with a new loan, because the money ain’t there until we start making a profit. And how long might that take? The only SURE things are this deal and a replay in 2 years or less in whatever the economic and pilot shortage situation exists at the time.