Airline Pilot Central Forums - Gambling on XJT and their future

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JetJock bought stock and is now speculating! Are you in to oil as well? haha j/k :). Seriously, I think you make a good argument about buying XJT stock. I would like to follow suit, but I work there and I would hate for things to go south because then I'd lost both my job and my investments. Good luck and I hope you make some good dough!

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Originally Posted by SAABaroowski (Post 423162)

I agree 100% with you that enough is enough and we need to draw the line, however I will also tell you that if the company does not get 5% from us now, they will be looking for much more in bankruptcy court. We can all act like we would rather see the place burn down then give up 5% but we need to handle this very carefully. As an MEC member I am not going to tell anyone how to vote, but just want to caution everyone that it could get very very ugly...

It is unfortunate that the BOARD signed a deal with CAL that literally is a going to make us lose money, but it is what it is and the company needs a way to reduce costs. If the pilot group wants the company to look elsewhere I am 100% behind them, and will stand behind them, just want to warn everyone that Bankruptcy will cost us a lot more then 5% our pay. If the group decides to give up anything, any money that is made will come back to the Pilots, I can guarantee you that

I understand 100% what is on the table. I didn't come to a good regional with excellent contract, good pay comparatively, and decent benefits to see it become a crappy one. If we go bankrupt, lose our contract to CAL, whatever... we set a precedent. I really have no problem losing my job right now. Do you know how easy it is to make 50 G's a year doing something else? ITs 9-5 weekends off and the view sucks but the business is usually a pretty safe long term bet. I have been interviewing outside of aviation for the past couple months and have been offered 4 jobs where i would make more money, be home on weekends and holidays and not have to drive 30 minutes to newark. i have the flight time to get a job when things turn around but who knows when that will be.

I am sorry if you need XJT to stay in business but i WILL NOT vote for any type of concession. I make just enough to make it worth my while to not do something else. If we do give concessions Semak, Ream, can expect a massive slow down from myself and others. Whats the incentive to try hard anymore? we would just be another place with a weak contract and crappy pay. DO you know how much of a cluster term A is going to be if no one tried to help out. Let the cost reductions come from better scheduling practices, management pay, etc

I'm gambling on XJT too...I work there...

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Originally Posted by newarkblows (Post 423288)

Why don't you request a leave of absence? It would help the company reduce costs and allow you to pursue your other opportunities outside of aviation while hopefully ensuring that you have a job to come back to. The gist of the roadshow (which I went to last night and I'd recommend you do the same) is that with our current cash burn plus the new CPA with CAL we are going to be bankrupt in about 2 years. Personally, Ill gamble on a 5 percent paycut vs. almost certain bankruptcy.

Right now i am starting my own business and need to be home as much as possible. So far, as a 2nd yr fo i have been able to get an avg of 15 days off a month. If we go bankrupt it will take a lot less than 2 yrs. 150 mil in the bank and 100 mil in untouchable frozen securities due to the credit crisis? i dunno.

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Originally Posted by JetJock16 (Post 422625)

There are many reasons for XJT underperforming stock but here are a few:
a. XJT just announced the closing of Branded.
b. Theyâ€™ve announced the termination of their DelConn
c. Theyâ€™ve announced future furloughs
d. Theyâ€™re stock is at it's lowest price mainly due to the above 3 facts plus fuel and the US$.
e. They will be returning several a/c to their leasers and transferring others back to CAL ops.
f. They must spend a large amount of money reorganizing their fleet and closing down operations.

Other than the price of oil and the resulting slugish econmy, the stock is down because the SKW buyout fell through, the convertible bonds coming due, and the loss of the DAL CPA. The shutdown of the prorate and the Branded operation should put upward pressure on the stock.

There have been no announcement of actual furloughs YET.

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Originally Posted by rickair7777 (Post 422641)

Three questions...

- I assume CAL pays for ALL of their fuel?
- What are they going to do about the lease payments on those branded ERJ's?
- Is DAL paying leases for the LAX ERJ's?

CAL pays for ALL fuel.

CAL will pay the leases on all the Branded and DAL aircraft returned to the CAL CPA.

DAL will pay for the leases on the CPA aircraft until August of next year.

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Originally Posted by newarkblows (Post 422643)

It usually takes about 6 months after the initial 30 days below 1.00 to be delisted.

Is that the rules on the NYSE or the NASDAQ?

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Originally Posted by freezingflyboy (Post 423297)

And that's why pilots will make 50K to fly a B777... I am not exaggerating. Mark my words.

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Originally Posted by dba74 (Post 422664)

July 31 at 5:00 pm Eastern time XJT will know how many notes are being submitted for repayment, and if those holders will want cash, stock, or a combination. If everyone wants payment, and in cash it could be bad news.

Its XJTs option to pay it in stock, cash, or a combination thereof NOT the note holders. XJT has already said they will only pay out in stock. This is why its very likely that those notes will be refinanced instead.