Lewbronski

No concessions. Seriously. And how insulting is their attempt to get us to ratify anything with the language, "Pilots will not be subject to furloughs for 2021, nor any further wage or work rule concessions beyond those in this side letter, barring any unforeseen and catastrophic circumstances."

Even if they were to remove the language in bold red above....NO, NO, NO!!!

Thousands of extra pilots hired because why? Ten billion in stock buybacks to enrich their Wall St friends and meet their stock performance bonus metrics while failing to save anything for the lows in the notoriously boom/bust airline industry?

During the good times, they delayed giving us a contract for FOUR years while failing to address our LTD/LOL situation. Now, in the bad times, they want immediate help from us? They turned their back on us with the -800 promise and the 15% ROIC promise and now they want us to come through for them? They thank the ExTO pilots for taking a ~40% pay cut by, less than three months later, asking for 10% more?

NO F'ING CONCESSIONS!!!!!!!! NO WAY!!!!!!

Milotar

Ya no kidding. If management had saved just 2.2% of the $10 billion they spent on buying back shares, it would equal the amount they're thinking they're going to reduce costs by jilting the pilot group on pay for a year. But nope, handing the money over to investment bankers was more important. They couldn't even save 2.2% and now they expect us to come to their rescue. Wonder how much Unka Gary made off of his stock incentives over the last few years as a result of pumping up the stock price with buy backs and not saving anything? How bout Gary donate that $$$$ to the company bailout fund?

Jaded N Cynical

Welcome to the SUCK.

ROFF

Since it’s basically one days operating expenses, I vote to eliminate Jan 31st.

Problem solved.

FleetSnarl

Perfect.

How about any pay cuts we talk about come in the form of a loan extended to the company from the pilots? So, in this case we loan them 10% of our pay for one year with the full amount loaned payable to us on Jan 1, 2022 with interest due at a rate of 26.99%. And then, how about we add on a signing bonus equivalent to 10% of our gross pay due for 2021 payable to us on Jan 1, 2022 with the same interest rate? And a 5% TFP raise starting on Jan 1, 2022 with each pilot receiving a stock grant of 1,000 shares. And, our long-term disability mess gets fixed immediately upon signing. Paid parking begins Jan 1, 2022. And finally, how about three seats on the corporate board of directors allotted to pilots? I might think about voting yes for that deal. Maybe. We'd have to be insane to consider the deal they sent us.

All of the above costs a lot less than $10 BILLION.

And no deal if any of the above is structured so that the company can avoid paying any of it out in a bankruptcy.

at6d

How about we just don’t fly on Mondays?

RJSAviator76

This whole concessions request is purely emotional and symbolic, but makes zero rational, economic or mathematical sense. The proposed concessions literally buy us 1 day cash burn per month. ONE! Let that sink in. Does anyone think it'll make any difference whether our company survives in the big picture? I don't. If Gary wants to furlough people over that, he'll be getting the employee group that he deserves.

I agree with SWAPA. This is a pure smash and grab attempt at our contract and a test whether or not we're chumps and if we can be emotionally manipulated.

Now... if the company wants a loan equivalent of 10% of our TFP rates, maybe we can structure one, but only with appopriate interest rate and the defined maturity date. I would also consider stock equivalent of 10% of our TFP value. But their current proposal is pure emotional manipulation garbage not even worthy of a vote.

Myfingershurt

Have they threatened yet how many they will furlough without this concession? I don’t work there. Just wondering.

Jeff Lebowski

It makes sense if you're trying to goad the gov't into dispensing more cheddar. It makes sense if you're trying to show the shareholders that you're doing everything you can to control costs (short of furloughing) and bide time until things turn around.

ZapBrannigan

Nope. And based on that proposal concessions were never the plan.

He just wants someone else to blame the company's first furlough on.

It's heartbreaking for me because it was literally the only reason I wanted to work at this company opposed to any other. Come to find out it's just another airline.

Just glad my wife works full time so I don't have to race to the first crappy job I can find like I did in 2002.


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