AA Early Retirement Offer
05-25-2020, 08:21 PM
#11
Gets Weekends Off
Joined APC: Oct 2013
Posts: 1,043
Originally Posted by rickair7777
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).
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).
I think if this deal gets wiped out they could just come back and fly the line assuming they have a medical. Speculation only.
05-25-2020, 09:42 PM
#12
Gets Weekends Off
Joined APC: Feb 2012
Position: 787
Posts: 3,123
Originally Posted by ACEssXfer
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.
I think if this deal gets wiped out they could just come back and fly the line assuming they have a medical. Speculation only.
05-26-2020, 05:41 AM
#14
Gets Weekends Off
Joined APC: May 2020
Posts: 484
Originally Posted by MasterOfPuppets
so then it’s not an early out retirement offer?
05-26-2020, 10:32 AM
#18
Banned
Joined APC: May 2017
Posts: 2,012
Originally Posted by sumwherelse
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!!”
05-26-2020, 10:33 AM
#19
Gets Weekends Off
Joined APC: Dec 2019
Posts: 1,318
Originally Posted by Downtime
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.
05-26-2020, 10:43 AM
#20
Gets Weekends Off
Joined APC: May 2020
Posts: 484
Originally Posted by El Peso
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.
Thread
Thread Starter
Forum
Replies
Last Post
