USAPA Board Approves MOU - Page 38 - Airline Pilot Central Forums

#371

R57 relay , 01-18-2013 06:54 AM

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Quote:

Originally Posted by bigscrillywilli

We shall see.....or maybe not

Yeah, but there is history of $70 million be distributed equally so I don't see your point unless it is just to stir things. I'm going to the roadshow Monday and will ask and tell my reps that I think it should be evenly distributed.

I suggest you tell your reps your feelings.

#372

bigscrillywilli , 01-18-2013 09:13 AM

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Quote:

Originally Posted by R57 relay

I meant if merger actually comes to fruition or not.

#373

texaspilot76 , 01-18-2013 12:39 PM

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I just read an article that says if the MOU passes and a merger occurs, that each pilot will receive a $10,000 lump sum payment. Does this include probies? Whenwould you have to be hired by?

#374

lolwut , 01-18-2013 01:12 PM

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Quote:

Originally Posted by texaspilot76

I just read an article that says if the MOU passes and a merger occurs, that each pilot will receive a $10,000 lump sum payment. Does this include probies? Whenwould you have to be hired by?

Does include probies. Still plenty of time to get hired. Unfortunately specifically does not include pilots from Texas.

#375

Cactusone , 01-18-2013 02:49 PM

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Quote:

Originally Posted by texaspilot76

I just read an article that says if the MOU passes and a merger occurs, that each pilot will receive a $10,000 lump sum payment. Does this include probies? Whenwould you have to be hired by?

That is not an accurate statement.

#376

Stetson29 , 01-18-2013 03:40 PM

Line Holder

Please tell us the inaccuracies.

#377

texaspilot76 , 01-18-2013 06:22 PM

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Here's the article from Forbes.

How US Airways Pilot Leaders Found Their Way to Unanimously Back Merger Deal - Forbes

#378

Cactusone , 01-18-2013 06:45 PM

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Quote:
If the Merger is approved by the Bankruptcy Court in In re AMR Corporation, et al., Case No. 11-15963 (SHL), and a merger involving US Airways and American is publicly announced, a lump sum payment of $40 million shall be earned and paid, on the effective date of the Plan of Reorganization as confirmed by the Bankruptcy Court (the "Effective Date"), by US Airways to pilots currently or previously represented by the US Airline Pilots Association (“USAPA,” or the “Association”).
The payment will be allocated to individual pilots according to a formula to be provided by USAPA, along with each pilot’s individual allocation. USAPA will provide the formula and the amount of each pilot’s allocation at least two (2) months prior to the date the payment is to be made.
The $40 million shall be the total amount paid, and no additional fringe benefits or other payments (e.g., DC retirement contributions) shall be made.

Here is the signing bonus language, it says nothing about $10,000. Some have inferred but it is not known the payout formula/amount.

#379

CaptainBigWood , 01-19-2013 02:43 AM

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$40 mill divided by 5300 pilots is $7547. About $5,000 after taxes in most states. I am just estimating 5300 pilots.

#380

GAPILOT36 , 01-19-2013 04:30 AM

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Actually, if you read anything that USAPA put out recently or heard at the road show. It is 40MIL equally divided to 4000 pilots, NOT 5200. The other 1200 or so are on leave or will be off property. So if you do the math it's give or take 10,000.00. For the Probies. It may be prorated just like our profit sharing is.