Spirit at risk of bankruptcy and liquidation
01-17-2024 | 11:36 AM
#21
Line Holder
Joined: Feb 2022
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GTFO
01-17-2024 | 12:27 PM
#23
Banned
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01-17-2024 | 02:24 PM
#24
On Reserve
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01-17-2024 | 02:28 PM
#26
Prime Minister/Moderator
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From: Engines Turn or People Swim
01-17-2024 | 02:35 PM
#27
Prime Minister/Moderator
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From: Engines Turn or People Swim
An acquisition and JCBA/SLI could actually occur during (or after) Ch.11, if it made sense to all participants including creditors and judge.
Ch.7 probably not, at that point it's planes, gates, and slots on the discount rack. Preferential hiring with maybe longevity credit would make a lot of sense... with enough folks coming from the same airline, it would be worth setting up a short transition course, vice full training footprint. Might even be able to do the training via classroom or CBT, with no sim.
Ch.7 probably not, at that point it's planes, gates, and slots on the discount rack. Preferential hiring with maybe longevity credit would make a lot of sense... with enough folks coming from the same airline, it would be worth setting up a short transition course, vice full training footprint. Might even be able to do the training via classroom or CBT, with no sim.
01-17-2024 | 02:37 PM
#28
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From: Airplanes
Of all the options out there, why would an NK guy/gal choose to interview at B6 over any of the other four? I was looking forward to the merger but I don't see what B6 can offer a new hire.
01-17-2024 | 02:42 PM
#29
In a land of unicorns
Joined: Apr 2014
Posts: 7,072
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From: Whale FO
That's a very common scope clause these days (lesson learned the hard way in the olden days).
It's also 100% worthless in bankruptcy... the entire CBA is on the butcher's block. Maybe 90% worthless, the court will have some slight consideration for unsecured creditors and employees, so it's better to have the language than not. Judge might possibly factor it in. But the court and creditors are in no way obligated to honor a CBA in bankruptcy.
It's also 100% worthless in bankruptcy... the entire CBA is on the butcher's block. Maybe 90% worthless, the court will have some slight consideration for unsecured creditors and employees, so it's better to have the language than not. Judge might possibly factor it in. But the court and creditors are in no way obligated to honor a CBA in bankruptcy.
If the union members rejects those changes without a good cause, only then the bankruptcy court can impose the adjusted CBA on the employees.
The scope which they can operate within is very narrow in Chapter 11. It is not, as commonly thought, a free-for-all smack-whack-cut right to adjust the CBA at will. This is under 11 US Code 1113.
01-17-2024 | 02:46 PM
#30
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Joined: Sep 2021
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Different people may have their reasons, like bases, getting rejected by other airlines, etc. I know a Spirit pilot that recently interviewed at both DL and UA and was turned down by both.
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