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Damn...it. Sorry to hear guys. This is just unbelievable to me. One week there's an announcement of the CEO getting a huge raise, the next week a Chap 11 filing. Absolutely disgusting.
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Originally Posted by Wingtips
(Post 1162036)
Source????? OH wait you have none!!!
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I don't mind shyguy. He tells it like it is. If you ask his advice he will help you.
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I'm really sorry to hear this guys. Best of luck to y'all.
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CEO getting a huge raise, the next week a Chap 11 filing.Absolutely disgusting. Rocky road ahead for the pinnacle crew members, but the'll come out just fine, don't get all to crazy with rumors and speculations. Good luck, many of us have been there more than once. |
And everyone thought Mesa was the only one that would file bankruptcy!!
I have heard RUMOR ONLY that DL is wanting to get back in bed with Mesa... Good luck PNCL.. |
Good luck to all of you.
As an ex regional pilot myself, I never thought that any regional would go ch11. |
Soo this just in....UNITED is buying the Q's and all Colgan pilots will have a united seniority number!!!
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Man seriously. That's not funny. We are losing 80 aircraft. Which probably means I'm on the street.
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Me and you both my friend...
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Originally Posted by dingo222
(Post 1162042)
reading the faqs on the company site, thank god for the jcba and the language brought over from the measaba and old pcl contracts. if you didnt notice, all fas, mechanics etc will have to reapply for any vacancies at pinnacle and start over as new hires. no moving expenses, no furlough protections, year one pay etc. once the colgan cert is done, any remaining non pilot furlough will be terminated. this is going to suck for us all. we thought 11-09 was a mess. enjoy the 250k menke.
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Guys, not that what I say will help anything, but as a Comair guy who is about to be on the street, I have been impressed by other airlines trying to help out guys who are about to be furloughed. Thankfully, your pilot group hasn't burned many bridges, and airlines will be there to help the furloughs.
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Originally Posted by DL31082
(Post 1162076)
Man seriously. That's not funny. We are losing 80 aircraft. Which probably means I'm on the street.
Originally Posted by Undrfly
(Post 1162078)
Me and you both my friend...
3rd...This is gonna suck...any idea's on were to look next? Everything I can find about going anywhere else reads "stay away!". When I do a little research I can't find one regional that doesn't look like their going to be up ******* creek within 3yrs. Any thoughts? |
The Former Officer Agreements . The Debtor hereby seek to reject the Consulting Agreement (the “Trenary Agreement”) dated March 10, 2011 between Pinnacle Holdings and Philip H. Trenary (“Trenary”) and the Release Agreement (the “Shockey Agreement” and together with the Trenary Agreement, the “Former Officer Agreements”) dated October 19, 2011 between Pinnacle Holdings and 12-11343 Doc 19 Filed 04/02/12 Entered 04/02/12 00:35:52 Main Document Pg 4 of 20 5 Douglas W. Shockey (“ Shockey”), in each case effective as of the Petition Date. Pursuant to the Officer Agreements, the Debtors pay Trenary for consulting services and Shockey for non-revocation of a release signed concurrently with the Shockey Agreement. The Debtors are eager to use these chapter 11 proceedings to maximize value for all stakeholders and emerge as stronger businesses. After analyzing the Officer Agreements, the Debtors have determined, in the sound exercise of their business judgment, that rejecting the Former Officer Agreements would benefit the Debtors’ estates by allowing the Debtors to avoid accruing ongoing payment obligations under the Former Officer Agreements, which provide no ongoing benefit to the Debtors’ estates. The Debtors estimate that the total savings from rejecting the Officer Agreements will exceed $1,500,000. |
Best of luck to everyone over there!
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Originally Posted by seahawker01
(Post 1162088)
The Former Officer Agreements . The Debtor hereby seek to exceed $1,500,000.reject the Consulting Agreement (the “Trenary Agreement”) dated March 10, 2011 between Pinnacle Holdings and Philip H. Trenary (“Trenary”) and the Release Agreement (the “Shockey Agreement” and together with the Trenary Agreement, the “Former Officer Agreements”) dated October 19, 2011 between Pinnacle Holdings and 12-11343 Doc 19 Filed 04/02/12 Entered 04/02/12 00:35:52 Main Document Pg 4 of 20 5 Douglas W. Shockey (“Shockey”), in each case effective as of the Petition Date. Pursuant to the Officer Agreements, the Debtors pay Trenary for consulting services and Shockey for non-revocation of a release signed concurrently with the Shockey Agreement. The Debtors are eager to use these chapter 11 proceedings to maximize value for all stakeholders and emerge as stronger businesses. After analyzing the Officer Agreements, the Debtors have determined, in the sound exercise of their business judgment, that rejecting the Former Officer Agreements would benefit the Debtors’ estates by allowing the Debtors to avoid accruing ongoing payment obligations under the Former Officer Agreements, which provide no ongoing benefit to the Debtors’ estates. The Debtors estimate that the total savings from rejecting the Officer Agreements will Oh, and I cant believe that these morons actually registered the domain name http://www.pinnaclerestructuring.com/ |
Originally Posted by dingo222
(Post 1162033)
somebody please corner menke on the conference call and ask about the plan for out of senority furloughs etc. some of us will be flying this am during the call. thx.
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Ok... I just have to say that this is going to SUCK for all the pilots here. And, in all honesty, more so for the Pinnacle/Mesaba guys that could potentially be furloughed because of Colgan Air ceasing operations. But I acknowledge that the Pinnacle 900s are being parked too. Doesn't change what's already happened and what is going to happen.
All I can say is best of luck to all of us, and if anyone needs a letter of rec feel free to PM me. Stay safe out there!! |
Originally Posted by What
(Post 1161914)
So Pinnacle and Eagle will solve the pilot shortage! We are doomed :mad:
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Originally Posted by FlyingKat
(Post 1161989)
RAH is parking the last of its Q400s on April 24. Bedford hates props...
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For the Saab folks....
March 31, 2012
REGIONAL EXPRESS (SAAB 340 Captains & First Officers (April 17th - 27th USA Interviews) - Australia) http://www.climbto350.com/asp/address.aspx?jobID=63918 Tel: NO CALLS http://www.climbto350.com/asp/faxnum...px?jobID=63918 Email: Click here to Apply Website: http://www.rex.com.au http://www.climbto350.com/asp/descri...px?jobID=63918 |
Originally Posted by N261ND
(Post 1162029)
Tell that to all the loyal Horizon customers (which there are a ton of). Or all of the oil rough necks flying in and out of Williston on Great Lakes. Passengers don't care. Its about the customer service provided and managing the airline properly.
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Originally Posted by What
(Post 1162115)
But would BB rather get props than see SKW continue to grow? It's a crap shoot!
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How is anyone getting the court filings? I can't find them anywhere.
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Originally Posted by FlyingKat
(Post 1162032)
American had the Q400s in DFW during November and December and wants to use them to replace ATRs. United wants more Q400s and was putting first class in them. Qs will have a future because of the price of jet fuel. They will go somewhere, my guess is Skywest or Commutair, maybe Piedmont. We'll see...
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So at this point, is there any chance the turboprop operation (either/both sf340 and/or q400 airplanes, pilots, certificate) can or will be sold to another carrier, moving the crews with the aircraft? I know this has been discussed before, but what is the real life application of the contract regarding this issue. And as for the aircraft, is Pinnacle trying to just give back and default on the q400s, or sell them, making the above question relevant. Seems to me Pinnacle would benefit by cutting the operation and seeing some sort of return from the aircraft it does own, Colgan pilots could benefit with a different opportunity, and the Pinnacle/Mesaba pilots wouldn't have to endure nearly the number of furloughs.
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Originally Posted by whtever
(Post 1162132)
So at this point, is there any chance the turboprop operation (either/both sf340 and/or q400 airplanes, pilots, certificate) can or will be sold to another carrier, moving the crews with the aircraft? I know this has been discussed before, but what is the real life application of the contract regarding this issue. And as for the aircraft, is Pinnacle trying to just give back and default on the q400s, or sell them, making the above question relevant. Seems to me Pinnacle would benefit by cutting the operation and seeing some sort of return from the aircraft it does own, Colgan pilots could benefit with a different opportunity, and the Pinnacle/Mesaba pilots wouldn't have to endure nearly the number of furloughs.
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Originally Posted by whtever
(Post 1162132)
So at this point, is there any chance the turboprop operation (either/both sf340 and/or q400 airplanes, pilots, certificate) can or will be sold to another carrier, moving the crews with the aircraft? I know this has been discussed before, but what is the real life application of the contract regarding this issue. And as for the aircraft, is Pinnacle trying to just give back and default on the q400s, or sell them, making the above question relevant. Seems to me Pinnacle would benefit by cutting the operation and seeing some sort of return from the aircraft it does own, Colgan pilots could benefit with a different opportunity, and the Pinnacle/Mesaba pilots wouldn't have to endure nearly the number of furloughs.
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Bet you guys feel a little dumb for not just taking the 5% cut for 1 year and avoiding all this.
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Really sorry to see this development. I have been through BK furloughs and liquidation. IT STINKS!!!
We are hiring 720 pilots this year and a substantial amount in the next two years. Not for everyone but beats being unemployed. Process is long but worth a look. Good luck. Pilots & Flight Deck Crew | Qatar Airways Global |
Originally Posted by FlyingKat
(Post 1161989)
RAH is parking the last of its Q400s on April 24. Bedford hates props...
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Originally Posted by lolwut
(Post 1162136)
Bet you guys feel a little dumb for not just taking the 5% cut for 1 year and avoiding all this.
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Originally Posted by lolwut
(Post 1162136)
Bet you guys feel a little dumb for not just taking the 5% cut for 1 year and avoiding all this.
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Originally Posted by lolwut
(Post 1162136)
Bet you guys feel a little dumb for not just taking the 5% cut for 1 year and avoiding all this.
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Originally Posted by lolwut
(Post 1162136)
Bet you guys feel a little dumb for not just taking the 5% cut for 1 year and avoiding all this.
Originally Posted by lolwut
(Post 1161924)
With this in mind, are the signing bonuses paid to the pilots from the new contract signed last year in any possible jeopardy?
Wow... just, wow. |
Wow the stock is kicking a$$
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Really sorry to hear this, best of luck to all of those affected.
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Originally Posted by flapsfail
(Post 1162154)
Wow the stock is kicking a$$
How's that pay raise working out for you, Sean? |
Pitch Mode: Do you have a time and location for the Regional Express interviews?
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Originally Posted by FlyJSH
(Post 1162169)
Nothing like a bankruptcy to drive it to a new low.
How's that pay raise working out for you, Sean? |
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