Spirit And management working cohesively
08-29-2020, 09:56 AM
#81
Kabuki Kool
Joined APC: Jul 2016
Position: fu3king.airline@Furlough. DNA
Posts: 447
Originally Posted by EALOFFSPRING
The daily cash burn will be down to $500-700k/day in Q3. At that burn rate the company can last 2 years without raising more cash. We do have higher debt/equity than we did at the start, but nothing that would send investors running for the hills as is reflected in the stock price.
08-29-2020, 11:55 AM
#82
Line Holder
Joined APC: Sep 2015
Posts: 45
Originally Posted by FreshWater
Higher debt because management played a long realestate game with our money that blew up in their faces. Now they come to us for more to make up for their bad bets.
I really hope the union leadership comes to a reasonable accord with the company, so every pilot on the seniority list gets to stay. Perhaps, we get to voice our say in it, in the form of a vote or a survey, at the very least.
08-29-2020, 12:09 PM
#83
Kabuki Kool
Joined APC: Jul 2016
Position: fu3king.airline@Furlough. DNA
Posts: 447
Originally Posted by Clearedforils
You clearly have no idea, what you're talking about. Despite of calling you out, on the same old broken record about the so called 'swamp real estate deal', as you put it, you continue the same beat over and over. Assets are worth way more than just saving money, in the long run, so it always is considered a 'safe bet'..albiet, if timed properly. And, calling it "our money", is preposterous!
I really hope the union leadership comes to a reasonable accord with the company, so every pilot on the seniority list gets to stay. Perhaps, we get to voice our say in it, in the form of a vote or a survey, at the very least.
I really hope the union leadership comes to a reasonable accord with the company, so every pilot on the seniority list gets to stay. Perhaps, we get to voice our say in it, in the form of a vote or a survey, at the very least.
08-29-2020, 12:15 PM
#84
Gets Weekends Off
Joined APC: Jun 2009
Position: First Officer
Posts: 432
Originally Posted by FreshWater
Not so preposterous considering the totality of contract violations management has pocketed in the last four years. Now management wants to desperately hammer out a deal. If things are so desperate then why not take loan money from the cares act.
Exactly. If the company wants us to work with them, perhaps they could start by paying me the thousands they owe me in contract violations.
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08-29-2020, 12:27 PM
#85
Kabuki Kool
Joined APC: Jul 2016
Position: fu3king.airline@Furlough. DNA
Posts: 447
Originally Posted by skydisaster
Exactly. If the company wants us to work with them, perhaps they could start by paying me the thousands they owe me in contract violations.
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08-29-2020, 12:36 PM
#86
Gets Weekends Off
Joined APC: Aug 2020
Position: A320 CA
Posts: 649
Originally Posted by FreshWater
When we wanted a deal eight years ago management blew us off as long as they could, because they could. And enjoyed the savings. And still do, considering the amount of money management has stolen from us violating the contract that exist. And they want more.
I understand the frustration, but this is not the way to build a strong labor group. Telling the junior pilots to suck it up and pay your dues (literal and figurative dues) before their voice/vote matters is not sustainable. Try again to negotiate a voluntary option to mitigate these furloughs. Not because management deserves it (they f’ing don’t) but because our junior pilots deserve it.
08-29-2020, 12:44 PM
#87
Line Holder
Joined APC: Sep 2015
Posts: 45
Originally Posted by FreshWater
Not so preposterous considering the totality of contract violations management has pocketed in the last four years. Now management wants to desperately hammer out a deal. If things are so desperate then why not take loan money from the cares act.
[QUOTE=skydisaster;3118716]Exactly. If the company wants us to work with them, perhaps they could start by paying me the thousands they owe me in contract violations.
I completely agree with upholding mutually agreed contracts. But, for this type of 'Sense of Entitlement' mentality, this isn't the most opportune time right now. Eastern and relatively recent Comair all got what they wanted with such mentalities, but for a very short period, and we all know where those pilots are right now. Let's deal with the problem at hand!
08-29-2020, 12:49 PM
#88
Kabuki Kool
Joined APC: Jul 2016
Position: fu3king.airline@Furlough. DNA
Posts: 447
Originally Posted by Clearedforils
And taking a loan makes good business sense? It only increases liability on a balance sheet, especially when it isn't geared towards asset increment, but sustaining what you already have. The finance gurus call that 'Bad Debt'!
I completely agree with upholding mutually agreed contracts. But, for this type of 'Sense of Entitlement' mentality, this isn't the most opportune time right now. Eastern and relatively recent Comair all got what they wanted with such mentalities, but for a very short period, and we all know where those pilots are right now. Let's deal with the problem at hand!
I completely agree with upholding mutually agreed contracts. But, for this type of 'Sense of Entitlement' mentality, this isn't the most opportune time right now. Eastern and relatively recent Comair all got what they wanted with such mentalities, but for a very short period, and we all know where those pilots are right now. Let's deal with the problem at hand!
Last edited by FreshWater; 08-29-2020 at 01:00 PM.
08-29-2020, 12:59 PM
#89
Gets Weekends Off
Joined APC: Aug 2020
Position: A320 CA
Posts: 649
[QUOTE=FreshWater;3118743]
I’d say 1:1 voluntary ETO mitigates one furlough. Keep it simple just like frontier (though it better be higher than 35 hrs). Or Spirit, 3, 6 or 8 month ETO and all savings go directly towards furlough mitigation.
The Union’s proposed ETO being contingent on 0 furloughs is lazy and doesn’t make any sense. Voluntary ETOs can only mitigate furloughs, they cannot prevent furloughs (unless the participation is extremely robust like spirit).
There is no reason that proposal shouldn’t be offered from the exco.
Originally Posted by Clearedforils
And taking a loan makes good business sense? It only increases liability on a balance sheet, especially when it isn't geared towards asset increment, but sustaining what you already have. The finance gurus call that 'Bad Debt'!
What’s your proposal?
What’s your proposal?
The Union’s proposed ETO being contingent on 0 furloughs is lazy and doesn’t make any sense. Voluntary ETOs can only mitigate furloughs, they cannot prevent furloughs (unless the participation is extremely robust like spirit).
There is no reason that proposal shouldn’t be offered from the exco.
08-29-2020, 12:59 PM
#90
Line Holder
Joined APC: Sep 2015
Posts: 45
What’s your proposal?[/QUOTE]
For the sake of every pilot on the list, the union must try and negotiate a good, viable ETO/ETO variant agreement with a fixed monthly guarantee upwards of 50 hrs/month, not just walk off the table. And, tentative agreement, be sent out to the pilots, for a final say. How else, are we all supposed to voice our collective opinion? On Social media??..or here?? Come on!!
For the sake of every pilot on the list, the union must try and negotiate a good, viable ETO/ETO variant agreement with a fixed monthly guarantee upwards of 50 hrs/month, not just walk off the table. And, tentative agreement, be sent out to the pilots, for a final say. How else, are we all supposed to voice our collective opinion? On Social media??..or here?? Come on!!
