I believe he's referring to the pilot group, not management. That's me reading between the lines.

Although I don't consider WG a "start up" operation per se, I do believe often times, smaller, newer groups are resistant to organizing because it sort of "levels out" the playing field so to speak. And that dynamic holds back those, let's say, who are extra ambitious and trying to take advantage of every opportunity to advance quickly through the ranks.

So, yeah, my read is there is a lot of anti-ALPA sentiment. And my feeling at the time they chose ALPA was that it was a foolish choice. I was ALPA once. If you're ACMI ALPA is a dumb choice. Teamsters, while far from perfect, won't pinch their nose when you're in the same room during negotiations.

 

We can talk about the elderly owner's feeble attempt to convince his employees that WG is in severe financial distress because of the price of fuel. Any idiot with the internet can see the price of a barrel of oil and the price of jet fuel. Do you think the secured creditors are buying this b.s.?

The owner has been throwing a childish tantrum in the two years since ALPA was voted onto the property. He's got a small group (31%/MWGAGA) of ESOP-cheerleading yes men around him that are determined to decertify ALPA. Their clownish efforts have been a laughable failure. ALPA could actually help stabilize WG, if the owner would acknowledge the union and agree on a CBA rapidly.

Go with extreme caution when you're considering a future at WG. Something big will happen very soon. WG, if they survive, could be the only airline in the US that will be reducing their industry-lagging pay and benefits during a pilot shortage.

 

It’s a little more concerning than that even.

In May Fitch downgraded WGA further:



The CC/RR5 rating definition is for extremely low junk bond rating withhttps://www.fitchratings.com/researc...rr5-02-05-2023

More recently Fitch has stopped rating WGA at all since WGA won’t provide them with the information needed for a valid rating:





https://www.fitchratings.com/researc...ngs-22-06-2023

S&P has done likewise:



​​​​​​​Don’t want to urinate in anyone’s cheerios but if you haven’t already hitched your career to WGA you might want to strongly consider alternatives.

 

https://www.straitstimes.com/busines...-cash-dwindles

 

Does this mean that great-game-of-business Jimbo won't be paying back the sixty five million taxpayer covid dollars he gladly took (at a time of record profits), then?

Kick-the-can-down-the-road only works so long. Pay the loadmasters and mechanics nothing, don't maintain the aircraft and do the bare minimum to keep them running was always the plan. Squeeze several hundred million out of the company, call it ceding shares to employees, pocket it, and let the company fold behind him. Dumpster fires aren't that warm when walking away, especially if one already sold the dumpster.

 

Unfortunately you're spot on.

 

From the looks of that article it is going to be hard to secure loans on assets that are encumbered and coupled with the fact that they have defaulted already this year. I think Jim Neff owns the leasing company that leases the aircraft to WGA. With all that being said, not sure the value of a few 747 BCFs and MD's but it cant be much as international demand is way down. Jim may just decide to liquidate WGA and sell the certificate which is probably the most valuable piece.

 

Depends on how much fuel is in the tanks.

 

https://www.aircargonews.net/airline...cy-considered/

 

There you go. Got what you wanted ? How about your retirement plans ? Call JN and tell him how to fix this mess and how a CBA will avoid a bankruptcy ! Grow up “dude” (even though you’re in the retirement age).