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View Full Version : AMR and APA agree to LOA


Fredturbo
03-16-2020, 05:33 AM
Copied from the AA forum. Agreed to last night. Looks interesting.

Amazing when the company shows intention to negotiate!

Good job APA.LOA-20-001 has two primary provisions: Pay Protection for pilots impacted by COVID-19, and incentivized Voluntary Leaves of Absence. I encourage everyone to read the full text of the LOA (https://www.alliedpilots.org/LinkClick.aspx?fileticket=dJvv9yHDZCs%3d&portalid=0), but here is a 30,000-foot view of the agreement.

Pay Protection:

Pilots who are placed in quarantine based on concerns related to COVID-19 or who are diagnosed with COVID-19 will be pay protected during the duration of the evaluation, treatment, or quarantine.
Pay protection also applies to pilots who self-quarantine due to a family member being diagnosed with COVID-19.
Pilots who call in sick and are subsequently diagnosed with COVID-19 will have their sick time restored to their bank and will be pay protected.

Voluntary Leaves of Absence:

Three different voluntary Leaves of Absence will be offered. The special voluntary leaves are designed to reduce temporary pilot overages caused by current circumstances.

Voluntary Extended Leaves of Absence (“VELOA”): A VELOA will be an unpaid leave; however, the pilot will continue to accrue Length of Service (LOS), will continue to have access to employee benefits at active pilot rates, and will retain travel privileges similar to an Active pilot. These leaves may be up to 12 months in duration.
Voluntary Short-Term Leaves of Absence (“VSTLOA”): Pilots who take a VSTLOA will be paid 55 credited hours for the duration of the leave. Leaves will be 1, 3, or 6 months long. The pilot will continue to accrue sick and vacation, be eligible for all benefits at the same rates as active pilots, and retain travel benefits. Pay for the 55 hours will be eligible for 401(k) contributions and profit-sharing calculations. Pilots on a VSTLOA will be required to maintain currency but will have no other flying obligations.
Voluntary Permanent Leave of Absence (“VPLOA”): Pilots between the ages of 62 and 65 will be eligible for a VPLOA. VPLOA pilots will be paid 50 hours per month until age 65. VPLOA pilots are eligible for all benefits at the same rates as active pilots, and retain travel benefits. Pay for the 50 hours will be eligible for 401(k) contributions and profit-sharing calculations. At retirement, the balance of the pilot’s sick bank will be deposited into a Health Reimbursement Account (HRA) at 40% of the pilot’s applicable hourly rate. A VPLOA pilot will remain in this leave until retirement. This leave is permanent and cannot be changed by either the pilot or the Company.


BobZ
03-16-2020, 05:52 AM
There is your early retirement package.

notEnuf
03-16-2020, 06:58 AM
But that's only 50% FAE 3 years early, it will never work. :rolleyes:


tennisguru
03-16-2020, 07:00 AM
I wonder how quickly they'd shed those VPLOA payments in BK...

ZeroTT
03-16-2020, 07:02 AM
Would be good to sell to one of those structured settlement companies

ERflyer
03-16-2020, 07:06 AM
I wonder how quickly they'd shed those VPLOA payments in BK...

Faster than an American CEO can say, “I don’t think we’re ever going to lose money again.”

hookshot123
03-16-2020, 07:25 AM
I have 5 years to go, pay me that up front and I am out of here.

I actually see that deal as a sign of how bad American management thinks this is going to get.

SideSticker
03-16-2020, 02:19 PM
I have 5 years to go, pay me that up front and I am out of here.

I actually see that deal as a sign of how bad American management thinks this is going to get.

"American has more than $34 billion in debt, compared to United's $20 billion, Delta's $17.4 billion, and Southwest's $4.6 billion.Aug 14, 2019"-Yahoo Finance

Thats a lot of IOU's

Hank Kingsley
03-16-2020, 02:34 PM
There is your early retirement package.
I want 50.1 or no vote.