PSA Announces 35% of Pilots Furloughed Oct. 1
08-31-2020, 11:04 AM
#16
Gets Weekends Off
Joined APC: Jul 2014
Position: B747 FO
Posts: 610
Originally Posted by Varsity
I hope thats sarcasm.
When i saw the AA post about furloughing 3000 from WO, i was initially surprised, because that would pretty much shut down all 3 companies, however i believe the number includes all staffing at the WO.
08-31-2020, 11:13 AM
#17
In a land of unicorns
Joined APC: Apr 2014
Position: Whale FO
Posts: 6,482
Originally Posted by Varsity
I hope thats sarcasm.
08-31-2020, 11:26 AM
#18
Gets Weekends Off
Joined APC: Aug 2011
Posts: 502
Originally Posted by dera
1600. Envoy is a large ground handling company with an airline attached to it. The 3000 AA mentioned does not mean 3000 pilots, it means 3000 employees. So in that context, it was appropriate to say Envoy furloughs 1600.
08-31-2020, 11:30 AM
#19
In a land of unicorns
Joined APC: Apr 2014
Position: Whale FO
Posts: 6,482
Originally Posted by uavking
No one here cares about anyone besides pilots in this context. The rest of the company is not our lane.
The pilot furloughs have already been announced last week.
08-31-2020, 11:44 AM
#20
Gets Weekends Off
Joined APC: Feb 2012
Position: CRJ FO
Posts: 4,599
The WOs will shrink. PSA may even shrink further depending on demand and outlook going into 2021.
All 3 legacies are barreling straight towards bankruptcy. The WOs are hopefully safe until that time but in bankruptcy we will likely be for sale just like everything else. Planes or hopefully planes and pilots.
I say that because a business can’t go into bankruptcy penniless. They need operating capital to see it through and cover expenses while they work on a restructuring plan. The thing about this that is unknown right now is obviously Covid-19 and our recovery. If they go into bankruptcy and it doesn’t look like there will be a meaningful path to recovery and profitability on the backside of bankruptcy they won’t likely be able to secure further financing. And they’ll need to maximize capital to make it as far as they can in bankruptcy until we do see that recovery.
Uncharted territory boys and girls. For all of the legacies. No one knows quite how this is going to play out but the industry will again, be forever changed.
All 3 legacies are barreling straight towards bankruptcy. The WOs are hopefully safe until that time but in bankruptcy we will likely be for sale just like everything else. Planes or hopefully planes and pilots.
I say that because a business can’t go into bankruptcy penniless. They need operating capital to see it through and cover expenses while they work on a restructuring plan. The thing about this that is unknown right now is obviously Covid-19 and our recovery. If they go into bankruptcy and it doesn’t look like there will be a meaningful path to recovery and profitability on the backside of bankruptcy they won’t likely be able to secure further financing. And they’ll need to maximize capital to make it as far as they can in bankruptcy until we do see that recovery.
Uncharted territory boys and girls. For all of the legacies. No one knows quite how this is going to play out but the industry will again, be forever changed.
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