Originally Posted by FLPS30GRDWN (Post 2627893)

This.

My favorite E190 story is the time we had a legacy AA pilot on the jumpseat ask if we’d applied to American. (3 years post merger).

“Yeah man we work with you. You may want to update yourself with the planes the company is flying.”

Originally Posted by Heavy Hive (Post 2628070)

I retire in 10 months. I think you really need to think about what you say. I voted NO on every concession floated. I would never ever give RJ relief. The entire RJ mess weakens the airline bottom line. The wholly owned companies are a mess and getting worse.
I see the younger crowd buying boats and planes. Big houses as well.
AA is headed for big trouble the way it is being run. You guys better be ready. They are going to furlough through retirements, and hire fewer if they can. The minute the first shock wave ripples through again, you are going to see pressure on the pilots. All those new captains will be under huge pressure to keep their seats, or the wife leaves, as well as the toys. Trust me on that.
Me? I will vote no up to the day I walk out the door and throw my I pad over my shoulder. Concessions only make them dumber instead of operating smarter. I have watched SWA long enough to figure how it should be done. Good luck.

Originally Posted by SilentLurker (Post 2626348)

Post of the day! Some people don’t understand the basics. This guy does.

Hell, this nation is successful and debt heavy! It’s the “American Way,” lots of debt heavy successful citizens (homeowners, lawyers, doctors, entertainers, CEOs) and many corporations! It’s the America way to leverage everything now for opportunity growth. We buy everything on credit (education, vehicles, careers, marriage, homes), including electing a peculiar President, for that personal financial “growth.”

Originally Posted by Varsity (Post 2629133)

My previous career was institutional lending/syndication in the big 4.

This might come as a shock to you, as a brilliant airplane pilot but financing billions worth of aircraft has almost nothing in common with your mortgage or boat loan.


AA financed these aircraft in credit pools of dozens of lenders that agree on a libor spread + fees for the runner.

Libor is calculated every single day and makes the rates variable. No bank on earth would finance 30b+ of high risk assets at a fixed rated.

If interest rates go up, so do the rates on these aircraft.

If banks exit the pool during a credit crisis, the rates go up.

If AA becomes a riskier borrower, banks will leave, driving rates up.

It's not a win-win situation and it's why Delta is so much more successful than the other 2.

Originally Posted by chrisreedrules (Post 2628818)

Although it begs the question... Better to be stuck as a senior regional CA durning a downtourn or a jr legacy FO?

Originally Posted by flyinawa (Post 2629324)

Better to be at the bottom of the top than the top of the bottom. Say the economy tanks for 5 years.. you have 5 years seniority at the mainline and are that much closer to max pay when the economy turns around. There is a LOT to be said for QOL but I sat in the 90% for 12 years on an Airbus and I’d do it Monday through Saturday and twice on Sunday if faced with a chance to do it all over again...of course, I bought a house in base on the 3rd day of new hire ground school.

Originally Posted by Name User (Post 2629445)

Now imagine if you had been displaced across the country commuting to a different base. Life would suck.

Originally Posted by Varsity (Post 2629133)

My previous career was institutional lending/syndication in the big 4.



This might come as a shock to you, as a brilliant airplane pilot but financing billions worth of aircraft has almost nothing in common with your mortgage or boat loan.



AA financed these aircraft in credit pools of dozens of lenders that agree on a libor spread + fees for the runner.



Libor is calculated every single day and makes the rates variable. No bank on earth would finance 30b+ of high risk assets at a fixed rated.



If interest rates go up, so do the rates on these aircraft.



If banks exit the pool during a credit crisis, the rates go up.



If AA becomes a riskier borrower, banks will leave, driving rates up.



It's not a win-win situation and it's why Delta is so much more successful than the other 2.