Spirit's Unrealistic Assumptions
05-18-2022 | 11:08 AM
#1
Thread Starter
Gets Weekends Off
Joined: Jul 2008
Posts: 610
Likes: 0
Spirit's Unrealistic Assumptions
"On April 19, 2022, members of JetBlue leadership and Spirit’s senior management team, along with representatives from Goldman Sachs, Morgan Stanley and Barclays, held a conference call to discuss various financial due diligence items, including Spirit’s five-year plan, Spirit’s revenue and cost drivers, and Spirit’s order book growth and aircraft financing strategy. During the meeting, JetBlue and Spirit discussed Spirit’s financial projections underpinning the transaction with Frontier included in the Spirit Definitive Proxy Statement, focusing on Spirit’s unrealistic assumptions, especially with respect to costs associated with personnel attrition and wage inflation, which did not contemplate any wage increases for team members, including pilots, at a time of high attrition and an anticipated shortage of pilots."
-- Form PREC14A Spirit Airlines, Inc. Filed by: JETBLUE AIRWAYS CORP
-- Form PREC14A Spirit Airlines, Inc. Filed by: JETBLUE AIRWAYS CORP
05-18-2022 | 12:08 PM
#3
That/It/Thang
Joined: Aug 2020
Posts: 3,500
Likes: 362
Ive said it over and over, a battle is coming. Just like the contacts before. If we aren't in one step and motivated, it will take 5 years, no doubt.
05-18-2022 | 12:21 PM
#4
Perennial Reserve
Joined: Jan 2018
Posts: 14,246
Likes: 257
Absolutely believable. You have been here long enough to know this is Spirit. They didnt want to give us raises last time, they won't this time. They dont want to pay until they have ton pay, its that simple. Did anyone think Ted and Bendo would write a fat check tomorrow because we lost 20 FOs last month?
Ive said it over and over, a battle is coming. Just like the contacts before. If we aren't in one step and motivated, it will take 5 years, no doubt.
Ive said it over and over, a battle is coming. Just like the contacts before. If we aren't in one step and motivated, it will take 5 years, no doubt.
05-18-2022 | 12:26 PM
#5
Gets Weekends Off
Joined: Jan 2006
Posts: 133
Likes: 0
05-18-2022 | 12:27 PM
#6
That/It/Thang
Joined: Aug 2020
Posts: 3,500
Likes: 362
05-18-2022 | 12:31 PM
#8
Perennial Reserve
Joined: Jan 2018
Posts: 14,246
Likes: 257
I’m not negotiating in public. Simply asking you a question. Simply going to B6 rates would be seen as a raise by the F9 guys - perhaps an inadequate one but still a raise, while our B6 pilot brethren would likely have higher expectations, and would be more likely to demand a greater improvement, at least in my humble opinion. .
05-18-2022 | 12:35 PM
#9
That/It/Thang
Joined: Aug 2020
Posts: 3,500
Likes: 362
I’m not negotiating in public. Simply asking you a question. Simply going to B6 rates would be seen as a raise by the F9 guys - perhaps an inadequate one but still a raise, while our B6 pilot brethren would likely have higher expectations, and would be more likely to demand a greater improvement, at least in my humble opinion. .
Our MEC/NC will NOT be going in with F9 or JBlu as any baseline when it comes to a starting baseline for wages. Baseline will be UALs new rates, and probably AA and DAL new rates, thats the baseline for A320 pilots as of 2022. The company can argue why that isnt the baseline to any NMB mediator, not us.
Last edited by CincoDeMayo; 05-18-2022 at 12:48 PM.
Thread
Thread Starter
Forum
Replies
Last Post
