Compass Updates - Saga Continues
11-02-2017 | 09:56 AM
#8931
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Joined: Sep 2017
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From: MEC Chairman, Snack Basket Committee
No one in the room or on the call from scheduling? SHOCKING!!! Why bother being held accountable for crapping all over the contract. No reserve grid? Errrrr, "I wasn't aware." Fluctuating reserve buffers as we see fit and not telling anyone. Meh, you don't need to know. Sigh......
Just like when MW was on vacation a few calls back, right? Classic
11-02-2017 | 11:35 AM
#8932
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Joined: Oct 2017
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No one in the room or on the call from scheduling? SHOCKING!!! Why bother being held accountable for crapping all over the contract. No reserve grid? Errrrr, "I wasn't aware." Fluctuating reserve buffers as we see fit and not telling anyone. Meh, you don't need to know. Sigh......
11-02-2017 | 11:57 AM
#8933
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Joined: Mar 2017
Posts: 859
Likes: 4
I think it’s even scarier then what you state here. Just running some rough numbers here.
Delta firing on all cylinders does about a 13 percent net income margin (AA and UA) even worse.
Given deltas margin at the time of sale to compass where around 7 percent my guess is the max they would have allowed CP of all metrics are met are Cost(at the time plus) 4 percent. Pilot costs alone do to recruiting and pay have gone up substantially higher then 4 percent in that time. In addition MX costs have risen given the age of the fleet.
Result = TSH or CP may no longer in the current environment be profitable. They may want to deliver on all promises or fix the issues in the grievance but the capital may not even be there. Given the private nature of the business there is no real financial transparency but I suspect the balance sheet is no longer viable or sustainable.
I don’t think a CP lifer is even a possibility
Delta firing on all cylinders does about a 13 percent net income margin (AA and UA) even worse.
Given deltas margin at the time of sale to compass where around 7 percent my guess is the max they would have allowed CP of all metrics are met are Cost(at the time plus) 4 percent. Pilot costs alone do to recruiting and pay have gone up substantially higher then 4 percent in that time. In addition MX costs have risen given the age of the fleet.
Result = TSH or CP may no longer in the current environment be profitable. They may want to deliver on all promises or fix the issues in the grievance but the capital may not even be there. Given the private nature of the business there is no real financial transparency but I suspect the balance sheet is no longer viable or sustainable.
I don’t think a CP lifer is even a possibility
11-02-2017 | 12:03 PM
#8934
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Joined: Jul 2014
Posts: 162
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So.....if another company did buy us, would that mean that Compass pilots would be out on the street? I wonder how that would play out.
11-02-2017 | 12:07 PM
#8935
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Joined: Sep 2014
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Do your research. When Alaska bought virgin, were tho pilots out on the street? Or southwest buying AirTran, or Skywest or xjt. It all gets merged
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11-02-2017 | 12:09 PM
#8936
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Joined: Jul 2014
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Ok.....if that's the case maybe it wouldn't be such a bad thing
11-02-2017 | 12:15 PM
#8938
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Joined: Mar 2017
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That was my first thought too! Some dude strategically implanted that idea in their head a few days ago for sure. I think she even posted it on Facebook. I've convinced some FAs one of the American planes is haunted by a worker that died putting in the NGI seats so let's keep that going.
11-02-2017 | 12:18 PM
#8939
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Joined: Jan 2016
Posts: 814
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This Skywest rumor has about as much substance as that Hawaiian flow.
11-02-2017 | 12:24 PM
#8940
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Joined: Jul 2014
Posts: 162
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When I interviewed last month it was "a flow is in the works with somebody, Seattle is going to experience substantial growth, and Phx should be obtainable shortly after training.....plus reserve times were going to be almost unheard of"
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