Originally Posted by rickair7777 (Post 3063957)

Absolutely! To my knowledge this is not any sort of formal retirement plan which would even be covered a little by PBGC.

It's a win/win for AA. If everything works out, they save some cash now, and the payments won't hurt too much after the recovery.

If it doesn't work out, looks like unsecured creditors to me. Worst case for AA, judge makes them recall the old guys (to a gutted contract) and then furlough juniors.

That said, I'd take the deal and take the chance (I don't have any alimony though).

Originally Posted by ACEssXfer (Post 3064042)

These pilots are still on the seniority list and are not officially retired until.....well.....their retirement date at age 65.

I think if this deal gets wiped out they could just come back and fly the line assuming they have a medical. Speculation only.

Originally Posted by MasterOfPuppets (Post 3064055)

so then it’s not an early out retirement offer?

Originally Posted by nootpilot (Post 3064141)

It’s a trap.

“our ignorance is not so vast, as our failure to use what we know.”

Originally Posted by MasterOfPuppets (Post 3064055)

so then it’s not an early out retirement offer?

Originally Posted by Mozam (Post 3064224)

No one seems to be able to answer that question with all the correct information everyone wants to know .

Originally Posted by sumwherelse (Post 3064041)

Greed!!! I saw a guy I’d flown international with several times who had about 9 months left and I asked him what the hell he was still doing here? He looked at me like I had three heads and said “not for that little money!!”

Originally Posted by Downtime (Post 3064143)

No it’s early out they can’t be called back and they can’t come back. They don’t exit the seniority list so I guess the assumption is by many that if a BK judge tossed the deal they could come back and fly. That said a lot of the guys had one to two years left when they took and I guess they figured by the time they get to that item in bankruptcy they be pretty much out the door before it got wiped out.

Originally Posted by El Peso (Post 3064349)

where on earth did you get this info from? They are 100% off the list and cannot return. EF was asked about this. His answer was, this deal is part of the CBA now. If they want to change it, it would require changing the CBA.