I got a text from the ORD call this afternoon. Here are the highlights:

1. Furlough numbers will be released in the next couple of weeks

2. Union seems to think a CARES ACT 2 is in the works

3. D2R travel privileges for furloughed pilots for 12 months

4. Furlough length/break even point for the company is shorter than 18-24 months due to the reduced fleet types

5. Furlough mitigation negotiations are ongoing everyday between AA and APA

6. Get the APA supplemental medical NOW. It’s good for 24 months including life insurance. It takes 60 days to activate. Process takes 5 minutes and is $200/month per covered individual (kids too) in your household (after furlough begins. Otherwise $20 per individual/mo)

7. July 2021 staffing overage is actually higher than the original number of ~1350

8. Furlough Q&A up on APA site now

Thats all I got. If others know more, please add/share.

 

Apparently there was also a quip about if AA doesn't get the 30 million a day cash burn down by begining of next year there may not be an airline to come back to.

Although that was probably more of an opinion by the guy who said it. And also that the company and union are meeting daily and the goal is to mitigate Furloughs as much as possible.

 

Mitigate, not eliminate?


Sent from my iPad using Tapatalk

 

Both. Ideally eliminate, but at the very least mitigate.

 

I am not trying to sound harsh but I think at this point mitigating is the best we can hope for, short of every pilot taking 50hrs a month on dramatically reduced pay rates, and even then it might not be possible. There is just really little to no revenue right now. My personal opinion is we need to open the economy back up and keep the vulnerable locked up. At this point the amount of money congress is throwing out with drastically reduced money coming in the effects of the second great depression will be far worse than the virus...but that makes me just an insensitive price. Its getting to the point that it won't matter what happens Nov 4th...sorry for the doom and gloom, I am usually not that guy...rough day

 

Well yeah we have to get the cash burn down but they have been doing that I thought. Was that one of our analyst stating the obvious?

 

Nah.. I think it was one of the ORD reps.

 

yup........

 

Ahh. Last I had heard we expected to get the burn rate down near zero by the end of the year. I had not heard anything different as of yet but who knows.

 

I think that was said when there was still optimism that we’d see increasing passenger counts through the end of the year. It’s pretty stagnant now, and without any increase in revenue I don’t see how we could possibly get there.