JetBlue Latest and Greatest
12-17-2020 | 03:10 AM
Line Holder
Joined: Jan 2008
Posts: 556
Likes: 2
Little concern with $17B in industry stimulus likely on the way. Maybe some more voluntary cost saving options, then revisit in May. Hope for a vaccine travel rebound by spring break/summer for leisure. Should get B6 to cash burn neutral the remainder of 2021, then a larger recovery and profitability in 2022.(IMHO!)
12-17-2020 | 05:11 AM
Gets Weekends Off
Joined: Feb 2011
Posts: 1,327
Likes: 0
Little concern with $17B in industry stimulus likely on the way. Maybe some more voluntary cost saving options, then revisit in May. Hope for a vaccine travel rebound by spring break/summer for leisure. Should get B6 to cash burn neutral the remainder of 2021, then a larger recovery and profitability in 2022.(IMHO!)
government isn’t gunna pass anymore stimulus. All
just a nice cat mouse game.
12-17-2020 | 06:46 AM
Gets Weekends Off
Joined: Mar 2020
Posts: 537
Likes: 0
The AIP includes:
- Specific, controlled CBA relief tied to the Company’s implementation of their commercial agreement with American Airlines.
- Additional job security and growth protections related to the commercial agreement with American.
- Relief from Targeted Line Value (TLV) through December 31, 2021.
- Extended Incentive Lines—New and Voluntary.
- 6, 9, 12, 18, and 24 months in duration.
- 55 hours credit.
- LTD/STD look-back true up (as compensation).
- Additional gains.
- Voluntary Permanent Leave of Absence (VPLOA)—Enhanced
- Eligibility changes to 60 or older on or before December 31, 2021.
- Maximum duration 24 months or age 65, whichever is less.
- No furlough period May 1, 2021, through May 1, 2022.
- Exception: the Company may furlough on October 1, 2021, or later if monthly total operating revenue is 35% or less of corresponding 2019 month for two consecutive months (additional government financial relief could augment this exception).
- Pay rate increase of 2% for all pilots on May 1, 2022 (last and final contractual increase was May 1, 2021).
- Company shall fund and implement future FLiCA Open Time process modification programming.
- Pairing-specific waiting room.
- Nothing changes upon ratification of this agreement—any change subject to separate membership vote at a later date.
- Extensions of currency and requalification terms, commuter rules, and other provisions within previous LOAs and MOUs.
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