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Eagle Files SEC Form 10
Read and discuss...
EDGAR Search Results American may reduce its business with us. Beginning on January 1, 2014, American will have the right to withdraw a specified number of up to 40 jet aircraft in each year from the terms of the Air Services Agreement, provided that we have received at least 12 months prior notice of the withdrawal. Beginning on January 1, 2012, American will also have the right to withdraw up to 12 Super ATR turbo-prop aircraft from the terms of the Air Services Agreement in each year. American’s right to withdraw aircraft each year is cumulative so that any number of aircraft not withdrawn in any year may be withdrawn in a subsequent year, subject to certain limitations. American will also have certain additional rights to withdraw aircraft under the Air Services Agreement upon certain events, such as if (i) we do not agree to provide at least the same number of block hours on a final monthly schedule as are set forth on any associated requested plan for three consecutive months; (ii) the aircraft is no longer subject to an aircraft lease with American due to our default or there is an event of loss with respect to such aircraft, but only if such event of loss or any termination of lease was not caused by the gross negligence or willful misconduct of American or an American agent; (iii) we fail to maintain a specified controllable completion rate over certain designated time periods; or (iv) we exceed certain preset fuel consumption baselines over certain designated time periods. |
Sounds like expressjet 2.0
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Originally Posted by PruneJuice
(Post 1037159)
Sounds like expressjet 2.0
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Why is Eagle hiring like crazy now? I would think they wouldn't be hiring as much since their future is shaky.
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Originally Posted by Flywife
(Post 1037168)
Why is Eagle hiring like crazy now? I would think they wouldn't be hiring as much since their future is shaky.
I concur with the above, it sounds exactly like ExpressJet 2.0. The aircraft and associated debt will be retained by AA and must be used for AA feed while operated by Eagle unless prior approval is given by AA for the aircraft to be used for another carrier. There is also a paragraph about labor cost and the success of Eagle being contingent upon reducing labor costs. Read into that as you wish but it means concessions and/or the senior folks bailing for AA before 2014. As a part of the reduction in aircraft AA must give one year prior notice and they can pull 40 jets a year starting in January 2014... Seems all too convenient that our CBA is amendable in January 2013... Is AMR pulling pages from the CAL and DAL playbooks? It sure seems that way to me. |
Originally Posted by Flywife
(Post 1037168)
Why is Eagle hiring like crazy now? I would think they wouldn't be hiring as much since their future is shaky.
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Originally Posted by Flywife
(Post 1037168)
Why is Eagle hiring like crazy now? I would think they wouldn't be hiring as much since their future is shaky.
I was riding with two AA crews yesterday trying to get home. Both said the same thing i have been hearing, AA has to start hiring now, and they are not going to give up their scope. They'll strike first. So for all the people who keep saying eagle cannot make it because they only have 50 seaters. well, so will ANY other carrier who tries to fly for AA. Could Eagle sink? Sure. However it could also be the place to be! Youngest Captain I believe is 4yr 3months, and that number is dropping. A lot of senior captains are leaving! I have helped a couple guys try to get on with eagle and I'm still encouraging them to do so. |
Originally Posted by Flywife
(Post 1037168)
Why is Eagle hiring like crazy now? I would think they wouldn't be hiring as much since their future is shaky.
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Originally Posted by SATCFI
(Post 1037208)
Youngest Captain I believe is 4yr 3months
4 and 7....let's get those numbers straight :p |
Originally Posted by SATCFI
(Post 1037208)
It depends on how you choose to look at it. It's no more shaky then ANY other regional! This new asa Is a nine year deal. Get hired on now (before oct 11) and have a chance to go to AA, if your number comes up it's straight to class at AA no interview or medical. The flying is NOT going anywhere soon! The atrs will be starting to leave (which was going to happen divestiture or not) next year but that is still not a big deal. Eagle is still very understaffed, and every single captain I have spoken flown with is leaving to AA as soon as their number is chosen. The next group starts going to AA in November.
I was riding with two AA crews yesterday trying to get home. Both said the same thing i have been hearing, AA has to start hiring now, and they are not going to give up their scope. They'll strike first. So for all the people who keep saying eagle cannot make it because they only have 50 seaters. well, so will ANY other carrier who tries to fly for AA. Could Eagle sink? Sure. However it could also be the place to be! Youngest Captain I believe is 4yr 3months, and that number is dropping. A lot of senior captains are leaving! I have helped a couple guys try to get on with eagle and I'm still encouraging them to do so. |
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