Did we suspend all Union management meetings? Why is there no email for a month?
A TLDR came out not too long ago from the MEC. I would hope that the MEC is starting to prepare for October when the company comes for the few "valuable" things that we have in the amendment round.
Cujo665
06-08-2020 10:35 AM
Originally Posted by Tyrion
(Post 3067141)
Wasn't that also the time that they were trying to sell Eagle? On paper, or on computer, it doesn't really mean much. If AE, Envoy whatever were really profitable, AAG wouldn't be outsourcing that flying to various 3rd parties. Skywest turns a profit because they have customers (AA, Delta, United, Alaska). They had over a $3B market cap before corona because of it. Envoy is just a line item. Our revenue (on paper) is whatever AAG wants it to be.
Eagle was for sale or being spun off almost every 4 years of the contract right before or during contract negotiations. They lie all the time. They claimed to never have exact cost/expense or know the exact revenue from running EagleVoy. The bankruptcy forced them to open to open the actual books. They know to the penny where everything goes and comes from. Everything else was a lie. If they’re telling you they don’t know, they’re lying.
they outsource for flexibility, whipsaw, backup and buffers. Places like Skywest make money because the CPA has an agreed upon %profit built right in it. It used to be almost 10% in the 200’s. I’d say that down to costs plus 5 or 6% these days. AAG plays one contract feeder off the other in a bidding war of who’ll do it the cheapest.... just like they play PDT, PSA and ENY against each other.
keep telling yourself Envoy is just a line item. I’ll tell you for a fact that when they opened their books they knew exactly how much that “line item” earned them. It was around $100M a year on average.
