Originally Posted by
DAL4EVER
Carl,
With all due respect, while I can't comment on the Hawaiian Airline's situation or NWA's financial position in BK, DAL came dangerously close, and by that I recall it was measured in days not weeks or months of running out of operating cash and liquidating. The company was frightened of the pilots back then and the union had the inside knowledge of the precarious financial position of the company. We were at the abyss, stared at it, and it stared back at us.
I hate that we lost the pensions and others kept theirs. I hate that we had to take a second round of paycuts. But neither you, nor I, were at the table when this was going down. But those that I knew who were at the table painted a very, very bleak picture of what could have happened with certain creditors had we just "voted down" the TA to see what we could have gotten better. There may not have been enough time to see what was behind door number 2.
Under the former bankruptcy law, liquidation was not likely until and unless we couldnt meet current costs based on cash flow after entering chapter 11 (remember how our caterers cut us off and then were told they were wrong-because they were getting paid). In a way,you make Carls point for him. We were not filing chapter 7. The "very bleak" picture was unfortunately very much believed by the MEC at that time. I think in hindsight, everyone must agree, we cut too deep.
The real failing was not our MEC's though, it was the ALPA national advisors who were not watching the store close enough prior to bankruptcy. I was paying attention at the time and I did find it interesting that the pilots who retired early (and all at once) got their information from somewhere on when to time their exodus.
Sadly, at this point, it is ancient history - like so mmuch in life. If our perspective had been more correct, some of the things we talk about in hindsight may have actually been implementable. If we had turned down the TA... who the heck knows ... I think it would have worked, but I have no facts to back that up.
I would at some point in my career like to see DAL pilots turn something down if it wasnt good enough.