Spirit/Frontier Merger (Again)
10-27-2024 | 02:28 PM
#121
Line Holder
Joined: Sep 2020
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ALPA doesn't strictly prohibit staple, but in extreme case the rules might allow something that looks similar. NK is not there yet by a long shot, right now it looks like NB on NB with (I assume) similar longevity distribution so more like a zipper.
While career expectations count, that's hard to quantify as far as the company finances and future prospects, so it probably doesn't get weighted much. We're learning this stuff over at AS.
While career expectations count, that's hard to quantify as far as the company finances and future prospects, so it probably doesn't get weighted much. We're learning this stuff over at AS.
10-27-2024 | 02:32 PM
#122
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Joined: Sep 2020
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United is hiring now. I'm sure Delta and American are as well. United only had a 6 week pause this summer which we do most years to give new hire staff a break. Planning on 2,000+ hires in 2025 as well. Lots of jobs for pilots who want to make a move.
10-28-2024 | 05:23 PM
#123
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Joined: Dec 2022
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10-28-2024 | 05:43 PM
#124
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The BK only has one major Creditor, who would likely fully control the process, unlike a bankruptcy where different creditors can vote. If the single creditor (that is owed $3B with $1.2B due in less than a year) isn't agreeing to change the terms of their debts out of bankruptcy, the court isn't going to magically wipe them out. Also these senior secured notes are "secured" by assets. The creditor can ask for their agreement to be honored, and the collateralized assets sold and the bonds paid including the future interest that would have been owed.
CH 11 isn't a do over. 60%-90% of companies that enter Chapter 11 bankruptcy never exit.
CH 11 isn't a do over. 60%-90% of companies that enter Chapter 11 bankruptcy never exit.
10-28-2024 | 07:14 PM
#125
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Joined: Jul 2009
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The BK only has one major Creditor, who would likely fully control the process, unlike a bankruptcy where different creditors can vote. If the single creditor (that is owed $3B with $1.2B due in less than a year) isn't agreeing to change the terms of their debts out of bankruptcy, the court isn't going to magically wipe them out. Also these senior secured notes are "secured" by assets. The creditor can ask for their agreement to be honored, and the collateralized assets sold and the bonds paid including the future interest that would have been owed.
CH 11 isn't a do over. 60%-90% of companies that enter Chapter 11 bankruptcy never exit.
CH 11 isn't a do over. 60%-90% of companies that enter Chapter 11 bankruptcy never exit.
10-28-2024 | 09:11 PM
#126
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,618
Likes: 558
From: Engines Turn or People Swim
Any furloughed pilots will be effectively stapeled. In UAL/CAL the furloughees caused 1998 UAL hires to be merged with 2006 CAL hires and most of the 1998 hires had never even been furloughed. Furloughing drags down the active flying pilots lower on the status and category list, so any furlough at either airline will have a devastating effect on the SLI, even if they are furloughed just a few days before the Merger is Completed (independent of merger announcement date)
11-12-2024 | 01:59 PM
#127
Almost there
Joined: Apr 2021
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11-12-2024 | 02:03 PM
#128
On Reserve
Joined: Jul 2018
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11-12-2024 | 02:18 PM
#129
Thread Starter
Gets Weekends Off
Joined: Oct 2017
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11-12-2024 | 02:19 PM
#130
Banned
Joined: Jul 2023
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