PNCL survial in peril- MEM article
12-28-2011 | 03:07 AM
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PNCL survial in peril- MEM article
Stakes for Pinnacle Airlines high as it moves to restructure debt, cut costs The Commercial Appeal
"... Philip Trenary, who stepped down March 24 with a two-year consulting contract in hand from the airline. It will pay him $1.7 million. (plus seperation)
Trenary said he voluntarily quit the job (Ha!), which paid $808,600 in salary and bonus in 2010 (sean gets more!), plus $760,000 in stock awards and options. . .
Unless the airline enters bankruptcy, several analysts doubt Menke will break the new labor deals reached with flight attendants and pilots.
"The pilots still aren't overpaid by any stretch of the imagination," Becker said.
About 40 percent of the 1,300 pilots and first officers earn less than $30,000 per year, according to the Air Line Pilots Association union in Washington.
What's likely, analysts say, is that Delta will hand over more cash to keep Pinnacle flying. (lets hope that this is what it is all about)
At the same time, the Memphis carrier may order 70-seat regional jets and park the less-efficient 50-seaters that make up the bulk of its fleet and drive up costs. (umm, scope
)
"... Philip Trenary, who stepped down March 24 with a two-year consulting contract in hand from the airline. It will pay him $1.7 million. (plus seperation)
Trenary said he voluntarily quit the job (Ha!), which paid $808,600 in salary and bonus in 2010 (sean gets more!), plus $760,000 in stock awards and options. . .
Unless the airline enters bankruptcy, several analysts doubt Menke will break the new labor deals reached with flight attendants and pilots.
"The pilots still aren't overpaid by any stretch of the imagination," Becker said.
About 40 percent of the 1,300 pilots and first officers earn less than $30,000 per year, according to the Air Line Pilots Association union in Washington.
What's likely, analysts say, is that Delta will hand over more cash to keep Pinnacle flying. (lets hope that this is what it is all about)
At the same time, the Memphis carrier may order 70-seat regional jets and park the less-efficient 50-seaters that make up the bulk of its fleet and drive up costs. (umm, scope
)
12-28-2011 | 06:28 AM
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Somebody has to cover your flying. I don't doubt Delta would use PCL shutting down to drop some of the 50 seat lift, but not all of it. Delta will hand out more money to keep the operation going. It's the cheapest thing to do in the short term. Absolutely no reason to hand back 5% of your money guaranteed in a contract that took 5+ years to negotiate.
12-28-2011 | 06:34 AM
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Delta would probably provide DIP if we were to go TU. A Pinnacle bankruptcy would be very advantageous for Delta in reducing costs of the feed and eliminating competition the Q400 creates on the east coast. Delta would basically own those planes (Q400s) if we went bankrupt.
12-28-2011 | 07:21 AM
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Memphis carrier may order 70-seat regional jets and park the less-efficient 50-seaters that make up the bulk of its fleet and drive up costs.
12-28-2011 | 07:23 AM
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Somebody has to cover your flying. I don't doubt Delta would use PCL shutting down to drop some of the 50 seat lift, but not all of it. Delta will hand out more money to keep the operation going. It's the cheapest thing to do in the short term. Absolutely no reason to hand back 5% of your money guaranteed in a contract that took 5+ years to negotiate.
12-28-2011 | 07:39 AM
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From: B757/767
Here's a thought: Management uses this and dangles it as a carrot in front of the group for a 5% paycut. It's happened before at other regional airlines, and can happen here. Consider that almost half the original 9E group is the Gulfstream pay-to-play types, and it isn't too far a stretch to imagine the possibility. Also, senior lifers who have no where to go would rather fly a 70 seater for more pay as opposed to 50 seaters that are headed for the desert.
I guess that leaves UAL.
12-28-2011 | 07:42 AM
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From: In favor of good things, not in favor of bad things
Edit....n'mind. I didn't scroll (scratch?) down far enough on my phone.
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