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01-02-2023 | 11:27 AM

#91

flyingpuma1

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For everyone so concerned that the company is losing money our ceo wasn’t the 5th highest paid in the industry and spirit is only the 10th largest airline. Teddy is paid more than Frontier, JB, Alaskan, Hawaiian CEO’s give the fact that two of those airlines are larger than spirit he’s overpaid.

01-02-2023 | 11:44 AM

#92

Conquistador27

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Quote:

Originally Posted by flyingpuma1

CEO compensation has never correlated to the health of a company. Sad, but true.

01-02-2023 | 11:46 AM

#93

CincoDeMayo

That/It/Thang

Joined: Aug 2020

Posts: 3,463

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Quote:

Originally Posted by SoFloFlyer

I read somewhere that they used the rest of the money to consolidate debt or something to that effect.

They took a loan against their credit card loyalty program to pay off notes due this year, at a higher interest rate than the note they are paying off

It’s a “rob Peter to pay Paul” move except the new money is almost double interest rate they have on that loan now. So their loan servicing expenses just increased too.

Spirit will use some of that to pay off the note and the other is to probably go towards our contract, FAs and I think either the dispatchers or mechanics are up too.

They will be in the red this year so this is more debt to keep them afloat.

What a fantastically horrible job they are doing. This is some of the reason why many of us feel a bird in the broke ass company hand is worth more today than a chance they come back tomorrow.

01-02-2023 | 01:55 PM

#94

Noisecanceller

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Joined: Dec 2022

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Quote:

Originally Posted by flyingpuma1

I honestly couldn’t care less what the executives get paid. That’s their business it has zero correlation to what we do or should get paid. I would love for more pilots to think like executives when it comes to negotiating compensation though. The company’s financial status shouldn’t be considered when negotiating the value you bring as an employee.

01-02-2023 | 06:39 PM

#95

SoFloFlyer

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Quote:

Originally Posted by Noisecanceller

Unfortunately, a CBA has massive financial repercussions. Though I agree that we bring value to the company, we can’t aim for something fiscally unattainable. The biggest thing is that we don’t know where the fiscal line is that says how much is too much.

01-02-2023 | 06:56 PM

#96

flyingpuma1

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Quote:

Originally Posted by Noisecanceller

The company’s financial status shouldn’t be considered when negotiating the value you bring as an employee.

I absolutely agree with that.

01-02-2023 | 08:06 PM

#97

Halon1211

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Quote:

Originally Posted by flyingpuma1

I absolutely agree with that.

so then they should all pay us $700/hour no problem then?

01-02-2023 | 08:14 PM

#98

Noisecanceller

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Quote:

Originally Posted by Halon1211

so then they should all pay us $700/hour no problem then?

If that’s what the market rate is then yes.

01-02-2023 | 08:53 PM

#99

Halon1211

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Quote:

Originally Posted by Noisecanceller

If that’s what the market rate is then yes.

just another reason you can’t have a serious debate with a No voter…

01-02-2023 | 08:54 PM

#100

I was inverted

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Joined: Oct 2015

Posts: 471

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Quote:

Originally Posted by Halon1211

so then they should all pay us $700/hour no problem then?

$300/hr narrowbody rates sounded crazy a few years ago. $380 A320 and $383 A321 rates sounded crazy until Delta AIP’d it. Supply and demand. Inflation. Etc.