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Originally Posted by Macjet
(Post 3370146)
All of the executives will receive a bonus equal to 150% of their annual base salary. It's in the merger filing.
My ratification bonus minimum will also be 150% of my annual base salary. That's in addition to this third rate contract being propelled into its proper place as the new 5th largest airline. My 'yes' vote is going to be exxxxxppppeeeeennnnnssssssiiiiiiivvvvveeeeee. |
Originally Posted by Singlecoil
(Post 3370355)
The JCBA has a backstop of binding arbitration, does it not? You may not get to cast your no vote.
are we really expecting some kind of substantial gains??? I mean let’s hope so but I don’t know if we get too far ahead of ourselves |
Originally Posted by Halon1211
(Post 3370405)
Spirit hasn’t posted a profit since Covid yet, and Frontier airlines barely posted a profit.
are we really expecting some kind of substantial gains??? I mean let’s hope so but I don’t know if we get too far ahead of ourselves |
Originally Posted by dualinput
(Post 3370409)
What I’m worth is exclusive of how they decide to run the rest of their business to make profits. They don’t ask the gas man to pay less to make profits happen. They pay for the fuel whatever the cost so the airplanes continue to move. Same for us IMO
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Originally Posted by Halon1211
(Post 3370421)
Okay, but where are they going to get the money to pay you what your worth? If they themselves aren’t turning a profit or barely
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Originally Posted by OneplusF
(Post 3370427)
Name an airline that went bankrupt due to pilot salaries?
good read. Although I must admit I hate the Guardian. |
Originally Posted by Halon1211
(Post 3370421)
Okay, but where are they going to get the money to pay you what your worth? If they themselves aren’t turning a profit or barely
We are a variable cost, and while yes we are an expensive cost, we are certainly not what is standing in the way of profitability. The more we flights we operate, the more money they make. Also, Spirit turning massive profits is not the goal, we have a high plow back ratio, which means we put a lot of money back into the company to fuel growth rather than pay shareholders dividends. As long as our bills are paid and we have some operating cash on hand, we don’t expect to turn a massive profit as it all goes towards driving growth. If we can’t make our obligations, we would have to take on more and more debt, which some airlines did to cover operational expenses. We used cheap govt money which was smart, but we didn’t get over burdened like AA. Obviously these are very broad strokes, but the point is anyone who tries to rationalize low contract expectations on the belief that Spirit can’t afford to pay us is misinformed. |
Originally Posted by Halon1211
(Post 3370440)
https://www.google.com/amp/s/amp.the...ptcy-cut-costs
good read. Although I must admit I hate the Guardian. |
Originally Posted by Halon1211
(Post 3370421)
Okay, but where are they going to get the money to pay you what your worth? If they themselves aren’t turning a profit or barely
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You would think that the small increase in CASM for a competitive pilot pay scale pales in comparison to the drop in RASM for cancellations and underutilization of new aircraft deliveries.
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