$1.3 B unspent Cares Act money reported
10-13-2020, 06:08 PM
#21
Gets Weekends Off
Joined APC: Dec 2019
Posts: 193
[QUOTE=Keepitreal;3144902]So pilots that sat home getting paid want to take the cost savings achieved by other work groups who took unpaid leave ... in order to stay home longer and get paid... that sounds like what I’m hearing. How about we treat the air travel decline/threat issue as it is and do our part to support the business..[/QUOTE
I guess you missed that part that CARES was to cover payroll of those affected by COVID? I also guess you missed per Joanne Smith that many of the people on unpaid leave replaced a good portion if not more than their normal pay on unemployment. Really no difference since it’s Uncle Sugar paying both. I doubt the majority went on those leaves to save the company. I suppose you also believe being converted to lower paying equipment wasn’t a change in pay and didn’t save the company money. I know my pay from Aug to Dec will be at least $30k less than last year just on pay rate change.
There are obviously things that will need to be done to address the precipitous drop in revenue but the CARES money was specifically targeted and imo the company did not comply with the spirit of the legislation. I hope someone forces them to disclose the actual accounting of the CARES spend.
I guess you missed that part that CARES was to cover payroll of those affected by COVID? I also guess you missed per Joanne Smith that many of the people on unpaid leave replaced a good portion if not more than their normal pay on unemployment. Really no difference since it’s Uncle Sugar paying both. I doubt the majority went on those leaves to save the company. I suppose you also believe being converted to lower paying equipment wasn’t a change in pay and didn’t save the company money. I know my pay from Aug to Dec will be at least $30k less than last year just on pay rate change.
There are obviously things that will need to be done to address the precipitous drop in revenue but the CARES money was specifically targeted and imo the company did not comply with the spirit of the legislation. I hope someone forces them to disclose the actual accounting of the CARES spend.
10-13-2020, 06:57 PM
#22
Gets Weekends Off
Joined APC: Mar 2015
Position: stake holder ir.delta.com
Posts: 10,062
30% of the CARES money was a loan. Unless there's some sort of forgiveness they have to payback $1.65B. Sitting on the cash is just a result of the drop in payroll 2019 to 2020.
Some things I noticed.
Interesting that we lent $250M to GOL in restructuring our guarantee and now Brazil is re-evaluating our LATAM deal.
Ed admits in December we will have exhausted all cost side ability to get to break even. It's all about revenue from here.
Pilot cost reduction is baked into Q4 so furloughs are happening with the lengthen recovery timeline. Though they'd still like to avoid them.
Some things I noticed.
Interesting that we lent $250M to GOL in restructuring our guarantee and now Brazil is re-evaluating our LATAM deal.
Ed admits in December we will have exhausted all cost side ability to get to break even. It's all about revenue from here.
Pilot cost reduction is baked into Q4 so furloughs are happening with the lengthen recovery timeline. Though they'd still like to avoid them.
10-13-2020, 11:08 PM
#23
Gets Weekends Off
Joined APC: Oct 2007
Position: Fairly local
Posts: 1,458
Originally Posted by Noob098765
Interesting angle. Tax payer funded cost savings..hmm don’t follow how YOU get decide where money goes that is not earned by our company...Support the business? Not working and getting paid off of Delta..not much longer. There are 1941 potential furloughs coming in less than 3 weeks, so what are you doing here again?
10-14-2020, 08:22 AM
#25
Line Holder
Joined APC: Jun 2013
Position: Bus
Posts: 30
Originally Posted by 1Taco
Why would they spend money on pilots to sit at home and not fly?
10-14-2020, 08:34 AM
#26
Gets Weekends Off
Joined APC: Apr 2014
Position: Widget Jet
Posts: 765
Originally Posted by SaveFerris
Someone here may know the exact number but I seem to recall from initial training a management pilot telling us that in a typical year we are overstaffed on pilots and are paying pilots who are "sitting at home and not flying" about 70% of the year. Obviously there are months we need a lot of pilots (holidays, summer) and we keep all those pilots (with pay mind you) even in lean months. So I guess the answer to your question is the standard Delta answer that we get to anything else "because that is how we've always done it."
Im sure the same can be said about flight attendants, mechanics, dispatchers and especially executives. Tired about the age old pilots this and pilots that. It’s company wide...
10-21-2020, 09:20 AM
#27
Gets Weekends Off
Joined APC: Jan 2015
Posts: 146
Originally Posted by GogglesPisano
No one “Sat at home getting paid.” They sat at home on reserve. Meaning available. If they were hiking the Himalayas or off the grid that’s a different story. But that wasn’t the case. They were working — they had an obligation.
It wasn’t their fault the phone didn’t ring.
Are you even a pilot? Do you know how this works?
You realize the non-pilot employees who took leave and went on unemployment actually made more money than had they worked? Please tell me you know this.
It wasn’t their fault the phone didn’t ring.
Are you even a pilot? Do you know how this works?
You realize the non-pilot employees who took leave and went on unemployment actually made more money than had they worked? Please tell me you know this.
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