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-   -   PinnaColaba Bankruptcy soon (https://www.airlinepilotforums.com/regional/63929-pinnacolaba-bankruptcy-soon.html)

MunkyButtr 12-11-2011 05:37 PM


Originally Posted by FlyingKat (Post 1100257)
I can see this playing out one of two ways.

The first way is Menke and co find a way to put all these aircraft on one certificate. They ask ALPA to slow down or halt the implementation of 11-09 and freeze everybody where they are until the integration of the certificates is complete. The only movement will be that caused by attrition and openings at each certificate.

The second way is Menke cannot find a way to get everything down to one certificate. Then I think they will ask ALPA to put a quota on how many can move and slow the process down to make it more bearable in terms of cost. Then once the award is implemented there will be restrictions in place to prevent movement between certificates.

One cert requires FAA approval. The FAA was giving them ish about the Mesaba cert which is why they are surrendering it and moving everything to the Colgan cert. It would cost just as much to get everything onto one cert. Short term cost savings are now impossible in the training sector. Impossible, unless they cancel the vacancy, declare chapter 11, revisit the arbitrators award and regroup. Not happening. Moving to one cert would only cause more of a cluster and add to the train wreck. Need I say cert one more time?




CERT!

Al Czervik 12-11-2011 06:20 PM


Originally Posted by MunkyButtr (Post 1100322)
One cert requires FAA approval. The FAA was giving them ish about the Mesaba cert which is why they are surrendering it and moving everything to the Colgan cert. It would cost just as much to get everything onto one cert. Short term cost savings are now impossible in the training sector. Impossible, unless they cancel the vacancy, declare chapter 11, revisit the arbitrators award and regroup. Not happening. Moving to one cert would only cause more of a cluster and add to the train wreck. Need I say cert one more time?




CERT!

swing and a miss.

Imapilot2 12-12-2011 05:03 AM


Originally Posted by ShyGuy (Post 1099562)
I said soon, and I haven't been wrong so far. Everything they've done so far hints at bankruptcy. Pilots WILL be taking concessions, one way or another. We will have the nicer option of staying out of bankruptcy and having our MEC decide what concessions or cuts to give from our JCBA, OR, Pinnacle will declare bankrupcty and have the BK judge force it upon us. You decide! But I still stand by my statement, that PinnaColaba will soon declare bankruptcy. It's just the beginning right now. I'll talk to you soon when it happens.


You obviously haven't studied about the last ten years of airline bankruptcy's and its effects on airline pilots, you couldn't be more wrong.

Imapilot2 12-12-2011 05:10 AM


Originally Posted by FlyingKat (Post 1099842)
What is going on here is Menke needs to get rid of the infrastructure of three companies and create one coherent operation out of this mess. He hired the consultants to get the required changes he needs to get this done.

These consultants will go to our "partners" to get contracts that will allow us to operate all of our aircraft one one certificate. They will come to the pilots to get a slowdown in the 11-09 award until he can get all the aircraft on a single certificate. If he can't do this, look for concessions that will limit the ability to transfer between certificates.

These consultants will also use the threat of bankruptcy to get major concessions from the lessors at One Commerce Square as well. 1CS is costing the company 3x what they projected just so Uncle Phil could have a nice office with a 14th floor view.

Anbody who can read a balance sheet can see this company is nowhere near bankruptcy yet. It is a real possiblity later next year if the company doesn't make some changes and fast. Anybody who has been listening to Menke since he walked in the door can't be surprised by any of this.

I'll make these predictions for a year from now:

1. We will either be on one certificate or well on our way to one certificate.
2. There will be massive layoffs at One Commerce Square and on the support side. I'd say one third to one half of the employees at 1CS will be on the street by this time next year.
3. All that will be left at 1CS will be the Executive Offices, if that.
4. Shy Fly Guy will still be crying that the sky is falling.

There will be no bankruptcy as long as Menke gets the concessions he needs to stay out of BK. If he doesn't get them, then he will take the company into bankruptcy to get them late next year.

I don't have enough fingers to count how many pilot groups were told this. They all were throwing up repeatedly over those words during the judge's bk imposed second round of cuts. Falacy.

Molon Labe 12-12-2011 05:20 AM

If the corporation is going to go into BK they are going to do it anyway.There isn't enough money that pilots make for them to give up that will keep it out of BK. When will you guys get that? All that will happen is your pay will get cut twice and most of the "recovered money" will go to management in bonuses. MEC s get painted a detailed presentation by management types that they have some influence over the situation and it is a pilot instinct to grab the controls and try to right the situation. Oh by the way the presentation they get is crafted by the same guys that con investment banks into finance packages,,,,these guys have lots of practice at convincing people of whichever point they wish to make. Don't fall for it like we did at NWA.

Deice Press 12-12-2011 06:04 AM

What airline has taken pay concessions that has gotten that money back? I'd rather take bankruptcy than concessions and a maybe.

MunkyButtr 12-14-2011 06:00 AM


Originally Posted by Al Czervik (Post 1100341)
swing and a miss.

Explain...

paokgate4 12-14-2011 10:35 AM


Originally Posted by Imapilot2 (Post 1100463)
I don't have enough fingers to count how many pilot groups were told this. They all were throwing up repeatedly over those words during the judge's bk imposed second round of cuts. Falacy.



FYI, mesa got no paycuts and have a pilot member rep on its board of directors.
And Mesa's pay for the 700/900 is close to pinnacles.....no need to take paycuts

BeaglePilot 12-14-2011 10:47 AM

Consessions from regional airline pilots. You guys are already underpaid. And the rat race continues.

The Juice 12-14-2011 12:24 PM

I can not imagine pay cuts ever being approved by our pilot group and I could never see myself voting for a pay cut at a regional airline. For me, it comes to a point where "enough is enough" and I would rather this play out in BK court rather than give a portion of, my already meager pay, to the company.

Millions of dollars will be given out in the form "going away packages" for those who did this to the company and that disgusts me to no end.

Pilot wages did not cause this mess and "fixing" those wages will not cure it. Not a penny will I vote to give to their cause.


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