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Lynx pilots were forced to take a pay cut. Years later they have yet to get the 10% back.
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The 5% is simply a way to fund current management's golden parachutes. We give up 5%, Sean and the team get bonuses regardless of BK or not.
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In PNCL's forward looking statements, 2012 and 2013 was looking like roses:
“These investments will result in a strong company in 2012 and beyond,” said Mr Hunt. “When we sat down with Delta to acquire Mesaba the goal was to provide a better product for Delta and a better cost structure for both. To that end we have an early rate increase based on the increased costs of integrating the three pilot groups and the new pilot contract which will come 12 months from now. We will get a one-time payment as much as USD18-20 million to cover the cost increases incurred over the next 12 months for the contract and pilot training and relocation costs as well as integration costs. In addition, the contract includes forward looking changes in rates that will start in the Spring of 2012 that the company currently estimates at USD14 million annually. So, 2011 will be a down year because we won’t have the benefit of the rate increase until 2012. But that means a vastly improved 2012 and beyond and that is where the focus needs to be.” The company will also see its first rate increase in 10 years for its former Northwest operations effective in January 2013. The original contract called for an adjustment every five years but Northwest was in bankruptcy when the first five years came due, putting off any rate increases until 2013. However, during the past decade, said Mr Hunt, cost increases have far outpaced inflation owing to its ageing CRJ200 fleet. Consequently, the company is in for a sizeable increase beginning 2013. |
Originally Posted by Bucking Bar
(Post 1121298)
In PNCL's forward looking statements, 2012 and 2013 was looking like roses:
Question, if PNCL gets give backs, do they plan on giving back to momma D? |
Well management's reason for the 5% from pilot pay is to supposedly save $8 million a year. So for a billion dollar holding company, they actually need $8 million in order to avoid bankruptcy?? I believe everybody sentiments, at least in the crew rooms, is to vote no to this, if it ever comes down to a vote. They're biggest hurdle to the loss of quarter numbers as of late, is the cost of the integrated seniority list and all the retraining that has to be accomplished. There are so many ways management can tackle this issue without having to resort to chap. 11 scare tactics, "take pay cuts, or we may seize operation" But I suppose if they didn't resort to scare tactics they wont feel like a real airline management.
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yeah they use the pilot givebacks to help fund the training costs-- hilarious!
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Originally Posted by mimatti
(Post 1121470)
Well management's reason for the 5% from pilot pay is to supposedly save $8 million a year. So for a billion dollar holding company, they actually need $8 million in order to avoid bankruptcy?? I believe everybody sentiments, at least in the crew rooms, is to vote no to this, if it ever comes down to a vote. They're biggest hurdle to the loss of quarter numbers as of late, is the cost of the integrated seniority list and all the retraining that has to be accomplished. There are so many ways management can tackle this issue without having to resort to chap. 11 scare tactics, "take pay cuts, or we may seize operation" But I suppose if they didn't resort to scare tactics they wont feel like a real airline management.
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Originally Posted by block30
(Post 1121505)
I'm with mimatti :cool:
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Originally Posted by PCLCREW
(Post 1121516)
I agree also... But the 16 900's and the Q's should have never been bought, but that was PT's gamble and he walked away with a nice package. Now many people may lose their jobs while he sits back and could care less. Gotta love America and its dirt bags.
You sound like a socialist commie. Merika, free market capitalism, prosperity. When you lose your healthcare after being fired, remember, merika, free choice, pay your own way. When you complain about PT and DS you are just expressing envy and you are against success. |
Originally Posted by gonyon
(Post 1121525)
You sound like a socialist commie. Merika, free market capitalism, prosperity. When you lose your healthcare after being fired, remember, merika, free choice, pay your own way. When you complain about PT and DS you are just expressing envy and you are against success.
What are you PTs kid? |
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