ABX pilot buyout?
#1
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ABX pilot buyout?
Heard that ABX announced a buyout plan for the pilots. Any ABX pilot have the details? If true, how does this bode for the future of ABX? or is management just trying to get rid of the senior (highest paid) pilots?
#4
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Not enough that will trigger any real mass early retirements. Maybe a handful of guys that have already been considering early retirement before this came out will take it. Maybe.
Can't copy and paste it but the nuts and bolts of it are, you hit 55 or older and want to retire. Take the number of months from your retirement date till you turn 65. They will pay 2k a month for those months up to $150,000 max. This is on top of the pilots normal retirement and, I believe, paid in a lump sum subject to taxes. The offer is good from March to July.
Now I could totally be wrong on the number of guys this offer attracts, but I really haven't run into too many guys who grumble about wanting to leave. I've flown with maybe 5 guys in 9 months that mentioned leaving before 65. I would say that offer may have to be a bit sweater to really motivate the upper half.
Can't copy and paste it but the nuts and bolts of it are, you hit 55 or older and want to retire. Take the number of months from your retirement date till you turn 65. They will pay 2k a month for those months up to $150,000 max. This is on top of the pilots normal retirement and, I believe, paid in a lump sum subject to taxes. The offer is good from March to July.
Now I could totally be wrong on the number of guys this offer attracts, but I really haven't run into too many guys who grumble about wanting to leave. I've flown with maybe 5 guys in 9 months that mentioned leaving before 65. I would say that offer may have to be a bit sweater to really motivate the upper half.
Last edited by Jason605; 02-20-2017 at 06:22 PM.
#5
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Joined APC: Jun 2008
Posts: 207
Generally I believe Jason is correct. There are always a few guys who have planned to leave early (i.e. this year) and will most likely take a little extra $ with them on the way out. As far as attracting others, the offer is just simply too cheap.
From a company side, there's nothing to 'read' here. It's not costing them a thing, in fact they actually gain. Replacing a high payer with a new-hire low one. Basic biz 101.
From a company side, there's nothing to 'read' here. It's not costing them a thing, in fact they actually gain. Replacing a high payer with a new-hire low one. Basic biz 101.
#6
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Joined APC: Aug 2007
Position: Always Fly With Favorite Captain
Posts: 374
Not enough that will trigger any real mass early retirements. Maybe a handful of guys that have already been considering early retirement before this came out will take it. Maybe.
Can't copy and paste it but the nuts and bolts of it are, you hit 55 or older and want to retire. Take the number of months from your retirement date till you turn 65. They will pay 2k a month for those months up to $150,000 max. This is on top of the pilots normal retirement and, I believe, paid in a lump sum subject to taxes. The offer is good from March to July.
Now I could totally be wrong on the number of guys this offer attracts, but I really haven't run into too many guys who grumble about wanting to leave. I've flown with maybe 5 guys in 9 months that mentioned leaving before 65. I would say that offer may have to be a bit sweater to really motivate the upper half.
Can't copy and paste it but the nuts and bolts of it are, you hit 55 or older and want to retire. Take the number of months from your retirement date till you turn 65. They will pay 2k a month for those months up to $150,000 max. This is on top of the pilots normal retirement and, I believe, paid in a lump sum subject to taxes. The offer is good from March to July.
Now I could totally be wrong on the number of guys this offer attracts, but I really haven't run into too many guys who grumble about wanting to leave. I've flown with maybe 5 guys in 9 months that mentioned leaving before 65. I would say that offer may have to be a bit sweater to really motivate the upper half.
#7
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#8
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Joined APC: Feb 2016
Position: Enjoying the show
Posts: 296
Wow. Don't know about those offers. This is like a kings ransom compared to those. Lol
#9
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#10
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Joined APC: Apr 2016
Posts: 492
Was there a new hire class in February? Is there one planned for March? I thought we were short pilots thus the reason you guys went on strike. Seems strange to offer a buyout when you need all the bodies you can get allegedly yet we haven't hired many new pilots since the December class and now there is a buyout. If the rumors about how long the new contract is going to take are true then they better hang onto everyone they can because I bet 95% of the new hires are getting their apps updated and will be leaving for greener pastures if they have to wait around too long for a new contract. Just my crappy opinion. Personally, if the single carrier filing doesn't get approved and we aren't running new hire classes every month then I will leave regardless of the contract status.
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