Any "Latest & Greatest" about Delta?
07-01-2010, 07:16 AM
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Compass contract:
LETTER 2007-06
FLOW THROUGH AGREEMENT
In the event of a sale of Compass such that it is no longer an affiliate of Northwest, the flow up rights of Compass new hire pilots (paragraphs D. and H. below) can be terminated by Compass without impacting Northwest’s upper cap as outlined in Section 1 B.7.c. of the NWA/ALPA Agreement (e.g., upper cap of 90).
LETTER 2007-06
FLOW THROUGH AGREEMENT
In the event of a sale of Compass such that it is no longer an affiliate of Northwest, the flow up rights of Compass new hire pilots (paragraphs D. and H. below) can be terminated by Compass without impacting Northwest’s upper cap as outlined in Section 1 B.7.c. of the NWA/ALPA Agreement (e.g., upper cap of 90).
07-01-2010, 07:18 AM
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07-01-2010, 07:19 AM
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07-01-2010, 07:19 AM
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Certainly hope the flow would be offered to those who have been and continue to be hired by the NWA/Delta hybrid Compass hiring process. Otherwise, it seems like time and money wasted to screen applicants who will never benefit the airline.
07-01-2010, 07:26 AM
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To piggy back this statements since I had to hit post and answer a call...
TransStates Holding Co did not have a DCI ASA prior to today. There was no secondary benefit to sell them to these guys. Selling them to RJET or SKW would have allowed they to alter the FFD structured ASA's to the "At Risk" structure. It appears that is the structure of the new agreement with TSA, but there is no other real benefit since they were a WO.
The only other bennies I can see is the DOT3 et al will now e paid by someone one else. We may see some A/C obligations removed from our balance sheet as well. We are getting out of the WO game. There are going to be wants/desires on these flows and my guess is that if we do not play ball these airlines will be sold again.
TransStates Holding Co did not have a DCI ASA prior to today. There was no secondary benefit to sell them to these guys. Selling them to RJET or SKW would have allowed they to alter the FFD structured ASA's to the "At Risk" structure. It appears that is the structure of the new agreement with TSA, but there is no other real benefit since they were a WO.
The only other bennies I can see is the DOT3 et al will now e paid by someone one else. We may see some A/C obligations removed from our balance sheet as well. We are getting out of the WO game. There are going to be wants/desires on these flows and my guess is that if we do not play ball these airlines will be sold again.
I'm also trying to put the puzzle pieces together and the answer to this question could affect how the picture looks, IMO.
07-01-2010, 07:28 AM
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07-01-2010, 07:28 AM
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I looked it up already.
The NWA contract definition of affiliate is identical to the one in the Delta PWA.
---- a subsidiary, parent or division of the company.
---- an entity that controls or is controlled by the company.
So if Mesaba and Compass are sold, they are no longer affiliates.
Comair will be the last remaining "affiliate".
The NWA contract definition of affiliate is identical to the one in the Delta PWA.
---- a subsidiary, parent or division of the company.
---- an entity that controls or is controlled by the company.
So if Mesaba and Compass are sold, they are no longer affiliates.
Comair will be the last remaining "affiliate".
07-01-2010, 07:32 AM
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I am not going to answer that. Why? Just plain smart.
I will state that the Q and A from CPS states that the flow will be talked about but and I am sure that all parties will be brought to the table.
I will offer my opinion on the language. It is successorship language and the cert has survived to date so the flows remain intact because of the LOA language. Now if there is a SLI or the cert goes away, that will be up for debate.
I wonder if there is another step in the process with TSA buying CPS and Pinnacle buying Mesaba. I would not be overly surprised to see SKW buy Pinnacle holdings and RJET or the like buy the CPS part of TSA. They are the ones that need the jets.
I will state that the Q and A from CPS states that the flow will be talked about but and I am sure that all parties will be brought to the table.
I will offer my opinion on the language. It is successorship language and the cert has survived to date so the flows remain intact because of the LOA language. Now if there is a SLI or the cert goes away, that will be up for debate.
I wonder if there is another step in the process with TSA buying CPS and Pinnacle buying Mesaba. I would not be overly surprised to see SKW buy Pinnacle holdings and RJET or the like buy the CPS part of TSA. They are the ones that need the jets.
07-01-2010, 07:35 AM
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I looked it up already.
The NWA contract definition of affiliate is identical to the one in the Delta PWA.
---- a subsidiary, parent or division of the company.
---- an entity that controls or is controlled by the company.
So if Mesaba and Compass are sold, they are no longer affiliates.
Comair will be the last remaining "affiliate".
The NWA contract definition of affiliate is identical to the one in the Delta PWA.
---- a subsidiary, parent or division of the company.
---- an entity that controls or is controlled by the company.
So if Mesaba and Compass are sold, they are no longer affiliates.
Comair will be the last remaining "affiliate".
07-01-2010, 07:42 AM
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It is just a guess, but an educated one.
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