Skybus miss any payroll?
04-06-2008, 12:09 PM
#3
Gets Weekends Off
Joined APC: Dec 2007
Position: Coach
Posts: 117
don't know the answer to your question, but bloomberg reported that the BR filing claimed $100 - 500M in assets and $50 - 100M in liabilities. (i thought they weren't filing until Mon, but that's what bloomberg reported). even boyd admitted that it appeared they were calling it quits in time to preserve capital for the creditors (which actually sounds like something diff would have done - but of course he left 2 weeks prior).
obviously, a lot of times employees get left out to dry in these things and don't get paid for work already done (as if losing your job isn't bad enough) - but i've got my fingers crossed for them in this case based on what bloomberg said about the filing.
obviously, a lot of times employees get left out to dry in these things and don't get paid for work already done (as if losing your job isn't bad enough) - but i've got my fingers crossed for them in this case based on what bloomberg said about the filing.
04-09-2008, 12:59 PM
#4
Sitting on the sidelines
Joined APC: Aug 2007
Posts: 436
Originally Posted by bbtp
don't know the answer to your question, but bloomberg reported that the BR filing claimed $100 - 500M in assets and $50 - 100M in liabilities. (i thought they weren't filing until Mon, but that's what bloomberg reported). even boyd admitted that it appeared they were calling it quits in time to preserve capital for the creditors (which actually sounds like something diff would have done - but of course he left 2 weeks prior).
obviously, a lot of times employees get left out to dry in these things and don't get paid for work already done (as if losing your job isn't bad enough) - but i've got my fingers crossed for them in this case based on what bloomberg said about the filing.
obviously, a lot of times employees get left out to dry in these things and don't get paid for work already done (as if losing your job isn't bad enough) - but i've got my fingers crossed for them in this case based on what bloomberg said about the filing.
Investers thought they had the well - but they only get the shaft.
04-09-2008, 07:52 PM
#5
Indian Takeout Driver
Joined APC: Mar 2006
Position: FAR part 347 (91+121+135)
Posts: 1,566
We got paid.. we're hoping for a bit more of course.
Most important is the founder who was squeezed out by the board of directors for being too friendly to labor, and not "airline executive" enough is trying (God bless his heart) to revive the company and jobs and make it right.. I think the economy and oil prices are against him, but had he been at the helm from the beginning, it may have turned out differently.
For the record, he had originally planned to pay 33% more and have a pay scale, but the recycled CAL/EAL guy and Ken Gile (WN) argued to lower it to the level it was at... Go figure!
Most important is the founder who was squeezed out by the board of directors for being too friendly to labor, and not "airline executive" enough is trying (God bless his heart) to revive the company and jobs and make it right.. I think the economy and oil prices are against him, but had he been at the helm from the beginning, it may have turned out differently.
For the record, he had originally planned to pay 33% more and have a pay scale, but the recycled CAL/EAL guy and Ken Gile (WN) argued to lower it to the level it was at... Go figure!
04-09-2008, 09:34 PM
#6
Gets Weekends Off
Joined APC: Dec 2006
Position: I was acquired, Not Hired
Posts: 1,784
Navajo,
Are you sure employees are first in BK ? I'm asking for two reasons. When TransMeridian liquidated (not BK), the secured creditors and then unsecured creditors were in line before us. Secondly, I still have not received my last check from TMA, and that was from Oct 05'.
Thanks in advance for any follow-up info, much appreciated.
FF
Are you sure employees are first in BK ? I'm asking for two reasons. When TransMeridian liquidated (not BK), the secured creditors and then unsecured creditors were in line before us. Secondly, I still have not received my last check from TMA, and that was from Oct 05'.
Thanks in advance for any follow-up info, much appreciated.
FF
04-09-2008, 09:54 PM
#7
Indian Takeout Driver
Joined APC: Mar 2006
Position: FAR part 347 (91+121+135)
Posts: 1,566
I too have read that employees are 1st in BK filing before creditors then last investors.. TMA didn't file BK which could be why you weren't paid... oddly that would mean you have a claim against them (who even them is)..
04-10-2008, 07:43 AM
#8
Gets Weekends Off
Joined APC: Oct 2007
Position: Sr. VP of button pushing
Posts: 2,732
Actually, the BK lawyers come first as an "administrative claim", the last 90 days wages are a "priority claim" and come before secured and unsecured claims. After my third airline BK, I think there should be BK law questions on the ATP written to get you ready for your airline career.
04-10-2008, 09:36 PM
#10
New Hire
Joined APC: Apr 2008
Posts: 3
Jazeera Airways Kuwait hiring experienced pilots, both A320 Type Rated and non-type rated (Captains and First Officers) Competetive pay scale compared to other airlines in the gulf, tax free income, cost of living is less compared to Dubai, Excellent opportunity for those who are looking for good job.
If anyone from SkyBus read this it's your chance to get an attractive job in the Gulf!
Visit the Jazeera Airways Web Site (www.jazeeraairways.com) or contact directly to [email protected]
Welcome onboard Jazeera Airways.
If anyone from SkyBus read this it's your chance to get an attractive job in the Gulf!
Visit the Jazeera Airways Web Site (www.jazeeraairways.com) or contact directly to [email protected]
Welcome onboard Jazeera Airways.
Thread
Thread Starter
Forum
Replies
Last Post
