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Originally Posted by belliott
(Post 1147014)
Question now being would the employees associated with the Colgan certificate go with the airframes? One day a Pinnacle Holdings employee the next day a Skywest Inc. employee... how would this work with the contract? Is there any language pertaining to this type of hypothetical deal?
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Originally Posted by geddeh
(Post 1147017)
I'll let it slide. Remember that Beer is important and must not be trivialized.
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Question now being would the employees associated with the Colgan certificate go with the airframes? One day a Pinnacle Holdings employee the next day a Skywest Inc. employee... how would this work with the contract? Is there any language pertaining to this type of hypothetical deal?
Originally Posted by geddeh
(Post 1147022)
Yeah... Not sure. JCBA Section 1 is pretty wordy.
Partial Asset Transfer If the Company or any Airline transfers, by sale, lease or other transaction, four percent (4%) of the aircraft in an Airline’s fleet in any twelve (12) consecutive month period to any other air carrier (excluding another Airline) or entity that controls another air carrier, then, once the Company or applicable Airline and the other air carrier reach agreement for transfer of the aircraft that constitutes the 4% threshold, the Company or applicable Airline will endeavor to secure the agreement of the transferee(s) to offer pilot employment to a number of Pilots on the Pilots’ System Seniority List based upon the total number of aircraft transferred or to be transferred, provided the transfer of aircraft did or will result in a reduction in force. If an agreement is secured, the Company will consult with the Association concerning the terms upon which such employment is offered (e.g., Pilots’ qualifications, seniority and other relevant factors). In any case, no Pilot shall be required to transfer with the aircraft. Section 24 will apply to any position changes that occur as a consequence of the partial asset transfer. Qs are 11% of the present fleet.... |
Originally Posted by FlyingKat
(Post 1147043)
From the Pinnacle Corp JCBA:
Partial Asset Transfer If the Company or any Airline transfers, by sale, lease or other transaction, four percent (4%) of the aircraft in an Airline’s fleet in any twelve (12) consecutive month period to any other air carrier (excluding another Airline) or entity that controls another air carrier, then, once the Company or applicable Airline and the other air carrier reach agreement for transfer of the aircraft that constitutes the 4% threshold, the Company or applicable Airline will endeavor to secure the agreement of the transferee(s) to offer pilot employment to a number of Pilots on the Pilots’ System Seniority List based upon the total number of aircraft transferred or to be transferred, provided the transfer of aircraft did or will result in a reduction in force. If an agreement is secured, the Company will consult with the Association concerning the terms upon which such employment is offered (e.g., Pilots’ qualifications, seniority and other relevant factors). In any case, no Pilot shall be required to transfer with the aircraft. Section 24 will apply to any position changes that occur as a consequence of the partial asset transfer. |
You guys know if they do actually buy us, we will be merged with asa and express jet while Skywest will take what they want from it but none of their pilots will be affected.
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Pinnacle's market Cap is 23.5 million and Skywest has 646 million in the bank, so they could buy us and have plenty left over. The question is whether United/Delta wants Skywest to get bigger and control more lift, and if Skywest wants to take on another challenging merger when they still haven't finished the ASA/Expressjet consolidation yet. On the Pinnacle side, my guess is the investors and executives at Pinnacle would jump at this if the price was right, particularly if we end up in bankruptcy.
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Originally Posted by PinnacleFO
(Post 1147148)
You guys know if they do actually buy us, we will be merged with asa and express jet while Skywest will take what they want from it but none of their pilots will be affected.
Still not sure if I buying this, however. |
They'll "consult" with you and "endeavor" to give you guys year one pay at skywest lol. I love all of these meaningless words in a contract.
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Originally Posted by RgrMurdock
(Post 1147280)
They'll "consult" with you and "endeavor" to give you guys year one pay at skywest lol. I love all of these meaningless words in a contract.
endeavour US, endeavor [ɪnˈdɛvə]vb to try (to do something) Writing in the contract that Pinnacle will "try" to do something. Ha!! What a worthless piece of garbage. Not even worth the paper its printed on. This clause is only going to be beneficial to you guys if its beneficial for the company. And even then, they'll screw you. |
So whens this report coming out? Ive read some were saying delayed till the 6th, its past now what? Can they keep delaying it?
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