PSA Announces 35% of Pilots Furloughed Oct. 1
#22
Gets Weekends Off
Joined APC: Dec 2018
Posts: 163
PSA Announces 35% of Pilots Furloughed Oct. 1
Yeah but that was vague. Estimated furloughs, still working to mitigate, etc. Meanwhile a whole bunch of junior FO’s got a personal call from RW last week. Although I guess there’s not a whole lot more to say now. The axe is dropping.
#24
In a land of unicorns
Joined APC: Apr 2014
Position: Whale FO
Posts: 6,465
There will be mitigation attempts until midnight September the 30th. Right now the number is 228. Hope it will be a few less October 1st.
#25
Gets Weekends Off
Joined APC: Mar 2017
Posts: 3,656
Yeah it seems management is digging in on this. While I appreciate your efforts, I dont think any results will come from it. Had they been interested, they would have looked at all the ideas the MEC offered over the last couple of months. Unless they have come up with something new recently, I think it is what it is, unfortunately.
#27
Gets Weekends Off
Joined APC: Nov 2016
Posts: 2,465
Yeah it seems management is digging in on this. While I appreciate your efforts, I dont think any results will come from it. Had they been interested, they would have looked at all the ideas the MEC offered over the last couple of months. Unless they have come up with something new recently, I think it is what it is, unfortunately.
#28
Gets Weekends Off
Joined APC: Apr 2019
Posts: 103
#29
#30
PSA Announces 35% of Pilots Furloughed Oct. 1
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.
I’ve always appreciated and valued your insight.
Thank your fellow cohort’s at PSA for standing strong!
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