AA Early Retirement Offer
05-26-2020, 10:45 AM
#21
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Thread Starter
Joined APC: Jul 2008
Position: 737 Right
Posts: 305
No one has yet answered my simple question....in the event AA declares bankruptcy do the obligations for paying these early retirees become like most other obligations, ie. unsecured creditors and they go to the back of the line to get paid, if ever.
With AA debt load that would be a huge factor for me. It is also why I asked the question about the option to take it as a lump sum. Take the lump sum $ and run and don't look back if I was 62+
With AA debt load that would be a huge factor for me. It is also why I asked the question about the option to take it as a lump sum. Take the lump sum $ and run and don't look back if I was 62+
05-26-2020, 11:00 AM
#22
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Joined APC: Jan 2019
Posts: 531
they are pilots without eligibility to fly or return to flying, and with no obligation to the company to show up to work. not retirees. They are on a voluntary permanent leave of absense. So they will be paid in the same manner that all the other pilots are paid. They will also not be furloughed. No, there is no lump sum.
05-26-2020, 11:50 AM
#23
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Joined APC: Oct 2013
Posts: 1,043
Originally Posted by Thunder1
No one has yet answered my simple question....in the event AA declares bankruptcy do the obligations for paying these early retirees become like most other obligations, ie. unsecured creditors and they go to the back of the line to get paid, if ever.
With AA debt load that would be a huge factor for me. It is also why I asked the question about the option to take it as a lump sum. Take the lump sum $ and run and don't look back if I was 62+
With AA debt load that would be a huge factor for me. It is also why I asked the question about the option to take it as a lump sum. Take the lump sum $ and run and don't look back if I was 62+
no one really knows and there hasn’t been an official answer from the company or the union. I’ll say again because I guess you missed it. The pilots are still on the seniority list. If the contract is thrown out in bankruptcy this agreement goes with it. Since they are on the list hopefully they’d be able to return.
You aren’t going to get a definitive answer because there isn’t one at this point.
05-26-2020, 11:55 AM
#24
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Joined APC: Oct 2013
Posts: 1,043
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.
They can’t return status quo. This question was about BK where the contract would more than likely be changed.
05-26-2020, 12:26 PM
#25
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Joined APC: Jun 2015
Posts: 482
Originally Posted by Thunder1
No one has yet answered my simple question....in the event AA declares bankruptcy do the obligations for paying these early retirees become like most other obligations, ie. unsecured creditors and they go to the back of the line to get paid, if ever.
With AA debt load that would be a huge factor for me. It is also why I asked the question about the option to take it as a lump sum. Take the lump sum $ and run and don't look back if I was 62+
With AA debt load that would be a huge factor for me. It is also why I asked the question about the option to take it as a lump sum. Take the lump sum $ and run and don't look back if I was 62+
05-26-2020, 12:27 PM
#26
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Joined APC: Dec 2019
Posts: 216
Originally Posted by bababouey
It really is a nice deal, any idea why nobody else is offering one?
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
Who knows why. Combination of horrible money management, too many ex wives, hating their current wife and not wanting to be home, etc...
05-26-2020, 12:56 PM
#27
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Joined APC: Nov 2013
Posts: 1,764
Originally Posted by FetaCheese
Believe it or not, there are a group of pilots here who.. quote "would work until age 70 if they let me"
Who knows why. Combination of horrible money management, too many ex wives, hating their current wife and not wanting to be home, etc...
Who knows why. Combination of horrible money management, too many ex wives, hating their current wife and not wanting to be home, etc...
05-26-2020, 03:32 PM
#29
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Joined APC: Dec 2010
Posts: 404
Originally Posted by texaspilot76
So, I wonder if all the 63 up pilots that are getting displaced off the 767/ 330 back to a narrow body will go ahead and take the early out. I’d like to think many would.
This could really give the VPLOA numbers a real boost on this round. And they should be out and posted before the Displacement.
05-26-2020, 04:50 PM
#30
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Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,912
Originally Posted by FetaCheese
Believe it or not, there are a group of pilots here who.. quote "would work until age 70 if they let me"
Who knows why. Combination of horrible money management, too many ex wives, hating their current wife and not wanting to be home, etc...
Who knows why. Combination of horrible money management, too many ex wives, hating their current wife and not wanting to be home, etc...
I went out on medical at 60 and I am fine with staying out, I have LOM coverage thru age 68.
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