copy

For clarification JBLU doesn’t pay a dividend to shareholders. Instead, they do buybacks (those are the two methods by which a company can return cash to shareholders). Some companies do both. JBLU only does buybacks. That said I don’t think we will see any buybacks for a while. Furthermore, it sounds like you might have just been implying that JB cares more about the share price than its employees. While that is probably true, they are more worried about cash preservation and survival than their share price right now. Sorry you are on the receiving end of it. I don’t agree with what they did. It will be a lot harder to sell their culture BS to future employees now that they’ve shown their true colors. Hopefully they do the right thing with you guys sooner rather than later.

RegionalRetread

You’re absolutely correct. They are trying to preserve cash. The cash they are saving amounts to about $2 million a year. It’s a drop in the bucket. It’s not going to make a bit of difference in the long run. The company makes several million a year just on booze sales. I don’t really care how the company decides to reward investors. This move seems more like an investor/balance sheet decision than a save the company decision. If that $2 million makes or breaks the company, than we really don’t have the 2nd best balance sheet in the industry. (Something they were more than happy to remind us about multiple times as they sent us packing.) It has become apparent I’m preaching to the choir and I’m actually shocked that APC has only shown support for our situation. I’m just whiny and bitter and having my tantrum moment for now. I’ll eventually sack up and get over it.

Boomer

This weekend a thousand guys from Compass and TSA got sent home. They’re not getting two grand a month and they probably won’t be interviewing at a Major in the next year or two, if then even.

They may be able to buy health care at COBRA rates, and they won’t be non-revving anywhere for fun or job hunting.

When this COVID-19 thing spools down they’ll still have no job to return to.

The difference between any of us and any of them is razor thin. Timing, luck, Karma, call it whatever you will, but we all got screwed over at some point in this career. Some of us more than once. We have to roll with it, and get some back whenever we have the chance.

usmc-sgt

I think it’s the smart choice for the company. Talking to a check airman these ioe cancels had just as much to do with the logistics and ever changing situation. Getting people to and from, putting them in hotels and finding flights that aren’t cancelled. The airline is attempting to survive and pushing a few folks through ioe so they won’t fly is not top priority at this moment. Go in crewtrac and look at your lines next month as they’ve changed. I bet most of you will see 70 credit but now 20 block. This gets worse by the second. These folks are Jetblue pilots and are being paid $2k a month to sit home. That’s not a bad unemployment check vs what TSA and Compass are getting.

CaptCoolHand

youre a pawn in a bigger game now and it’s got nothing to do with our stock and everything to do with our survival as a company. As you mentioned before they knew the money was coming but not how much. They did what they did so that hopefully you’ll have a jetblue to come back to in a year or so. It’s going to get worse. Take the money now while it lasts. Search out other means of income. The first ones out the door tend to fair better than the last.

AYLflyer

Glad to see someone with a head on their shoulders thinking clearly.

I want nothing but the best for our new hires and potential hires. I have a couple friends that just interviewed and I hope they get on quickly. People seem to forget though that up until now, if the economy tanked and furloughs started while you were in class, you were shown the door with nothing. I know guys personally who were hired at UAL during the last furlough. Some were almost done with class before being shown the door. They didn't receive any sort of compensation. This entire situation sucks, but I agree that if you're a brand new hire still in training, getting $2k/mo while sitting at home is a good deal while other shops are furloughing and shutting down.

RegionalRetread

You guys are correct. I’ve stated it could be worse. Perspective is key. Hopefully for all of us, the recovery is sooner rather than later.

Bluedriver

I agree here. Not fun, but no one knows how bad this will get, have to protect the company so he has a JB to return to.

Also, to the original poster, changing aviation jobs is always risky. By any chance, before your first day of class, had you heard about this virus in China that was spreading?

With that said, I'm very glad they are keeping you guys on and paying you 2k a month + benefits.

Bozo the pilot

Youll be back before you know it. And we'll get back to complaining about being overworked. In about 2 years..

11B flyer

Anyone know if calls for phase 2 or TBNT are going out for 12/13 March interviews still?