Originally Posted by
tsquare
OK, I keep seeing mixed messages in your posts about this. First you say we need top be careful because there is (my word) danger in the details. Then you go on to say there is huge potential for us here. OK.. define the potential. All I see is yet another revenue stream for the company that does not involve Delta pilots doing the work. So... what is it we are to sieze?
As far as the JV with AF goes... I'll believe it is a good thing when I see results. They may not take any of our flying, but I'll betcha we don't see any appreciable growth from it either. (Just like we are gonna see with JAL) As a matter of fact.. all I can see out of any of this garbage is stagnation. I'm just glad I still have my shares, cause the only winners I see here *(besides management) are the shareholders. Labor is gonna get hosed again. But then again, I could be very wrong.
OK I will lay out this as I see it....
Benefits:
Long term the Pacific Rim will once again be a power house in terms of revenue. Capturing a major stake in JAL, or slots would protect the investment DAL made in NRT. That is the surface of it.
With this revenue being shored up, DAL the company makes more money, give a return to it stake holder, gets more favorable lease rates, better interest on debt, greater netting effect for traffic to and from the us, and a share of the revenue stream. Lets not forget messing up half of the Globe for One Word.
Dangers:
We are foolishly betting our balance sheet on a carrier that is going in the dumps. (Read, needs government support to stay a float) risking our future on a major gamble. Puts us in to the red. (Good part is we own a majority and not all)
For the pilots, we rubber stamp this deal, do not look at how it effects current or future flying further stagnating our career progression, earning potential, which results in less money in the pot to give us, and lower retirement savings due to the lack of movement and earning potential.
Like I said, we need to be careful with this one. Different game buying a controlling interest. We need to make sure that any agreement benefits us the pilots. We cannot just allow ourselves to get steamrolled over on this one. It would cost us dearly.
The AF/KLM deal should be good for us. We have not seen any positive effects to date due to the horrible economy. I would suspect that once we start seeing a hearty recovery we will see routes added on both side of the Atlantic. The nagging question and what ifs, is would DAL have done all of the growth if we would have gone it alone?
I think that there is a possibility of good for us the pilots in this. Like many people I talk to, we want it to be good for us, and it better be, but we do not know the details yet. I am skeptical as most are. I want to be pleasantly surprised buy the success of the deal.
I am sure that LM will brief us at the LEC meeting on the 24th.