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-   -   Spirit to significantly shrink in restruct.. (https://www.airlinepilotforums.com/spirit/148655-spirit-significantly-shrink-restruct.html)

Midsomer 11-19-2024 09:41 AM


Originally Posted by rickair7777 (Post 3853646)
If you look into all the math and strategy regarding retirement, two years could make all the difference, especially at major airline pay.

There are other factors, but the biggies are...

1. Two years additional savings.
2. Two FEWER years in which you need to tap your investments.
3. Delay taking SS two years from when it would otherwise be prudent.

So two years roughly = four years, plus SS impact.

Anyway you can look into the math and see for youself. I'd recommend anybody much over age 35 do that... you might find you can bang out much earlier than you thought (especially at our income levels).

How long have you had a retirement account. Unless you bought individual stocks you should be well padded for retirement at 65 if you have been contributing 20+ years. If you havent been saving an extra two more years will not fix a career of not saving. Also no one says you have to take SS at 65, you can delay. Don't buy planes, boats, vacation homes, corvettes and other things pilots think they deserve but can't afford.

The financial decisions of a few should not dictate the future and livlihoods of thousands. ESPECIALLY with the potential for a significant number of pilots becoming unemployed. That is a nighmare scenario for anyone looking for a job, to create ZERO retirments for two years.

CincoDeMayo 11-19-2024 09:46 AM


Originally Posted by jabr800 (Post 3853622)

I have a relative at Spirit that flies as Captain.
My guess is he will be lowered to F/O shortly, and then with whatever pay reductions, insurance reductions, 401k contribution reductions or stoppages, etc. he will be reciving less than 1/2 of what he was receiving just a few weeks ago!

Something about this, the word choice...sounds like my non-pilot father talking to a non-pilot friend.

Never heard the phrase "lowered to FO"...would say "downgraded to FO or disaplced to FO"
Never heard someone say "flies as Captain"...would say "is a Captain"

Just interesting to me...thats all

CatPilot1 11-19-2024 09:49 AM


Originally Posted by jabr800 (Post 3853653)
Perhaps SSlow, however, I've been at 3, 121 carriers, and this is how is went everytime.
As they say, history repeats itself!

You come across as old and out of touch with the current industry. I’m thinking those ‘121’ carriers were small nobodies. List them out and prove me wrong.

greatmovieistar 11-19-2024 10:08 AM


Originally Posted by Midsomer (Post 3853656)
How long have you had a retirement account. Unless you bought individual stocks you should be well padded for retirement at 65 if you have been contributing 20+ years. If you havent been saving an extra two more years will not fix a career of not saving. Also no one says you have to take SS at 65, you can delay. Don't buy planes, boats, vacation homes, corvettes and other things pilots think they deserve but can't afford.

The financial decisions of a few should not dictate the future and livlihoods of thousands. ESPECIALLY with the potential for a significant number of pilots becoming unemployed. That is a nighmare scenario for anyone looking for a job, to create ZERO retirments for two years.

Stop counting other people's money

rickair7777 11-19-2024 10:11 AM


Originally Posted by Midsomer (Post 3853656)
How long have you had a retirement account. Unless you bought individual stocks you should be well padded for retirement at 65 if you have been contributing 20+ years. If you havent been saving an extra two more years will not fix a career of not saving. Also no one says you have to take SS at 65, you can delay. Don't buy planes, boats, vacation homes, corvettes and other things pilots think they deserve but can't afford.

The financial decisions of a few should not dictate the future and livlihoods of thousands. ESPECIALLY with the potential for a significant number of pilots becoming unemployed. That is a nighmare scenario for anyone looking for a job, to create ZERO retirments for two years.

Not arguing with any of that.

Just pointing out that two years *does* in fact matter. Financial planners often tell their clients who come up short that the solution is to work an extra 1-4 years. Saying that two years does not matter is mathematically wrong.

Margaritaville 11-19-2024 10:31 AM


Originally Posted by rickair7777 (Post 3853649)
Unfortunately RU is actually threatening that today, so that's maybe not a good eexample right now.

Thread drift I know Rick but you seem pretty well versed in military strategery. So don't you think Putin will respond in a symmetric way and put short range missiles in Cuba, Venezuela, etc before just pushing the button? Genuinely curious what you think.

Midsomer 11-19-2024 11:45 AM


Originally Posted by greatmovieistar (Post 3853670)
Stop counting other people's money

Stop trying to steal two years of progression from pilots. Where were all the pro 67 pilots when they were in their 30’s to 50’s. Not talking about how unfair having to retire.

Again with the uncertain future at spirit and the already announced furloughs raising the age is wrong.

rickair7777 11-19-2024 12:00 PM


Originally Posted by Margaritaville (Post 3853682)
Thread drift I know Rick but you seem pretty well versed in military strategery. So don't you think Putin will respond in a symmetric way and put short range missiles in Cuba, Venezuela, etc before just pushing the button? Genuinely curious what you think.

Generally, most likely yes, modest escalation of some sort. But he's made some bad decisions in recent years so I'm less comfortable with relying on his rationality than I was in the past. Remember, Vlad is actually a moderate in RU, there are many folks well right of him (and right of Ghengis Khan) who have already advocated for the use of tactical weapons in UA. And he has to thread the needle between the hard-liners and NATO.

If nukes get used, it will be in UA at a tactical level and will most likely have the same result as the last two nukes that got used... immediate unconditional surrender, since UA's nuclear armed allies will not dare escalate.

I was also surprised that whoever is running the white house allowed this. I've been generally in favor of supporting UA with materials, if they want to keep fighting, but this wasn't necessary given the pending US regime change. Literally just poking the bear.

jabr800 11-19-2024 12:05 PM


Originally Posted by CatPilot1 (Post 3853660)
You come across as old and out of touch with the current industry. I’m thinking those ‘121’ carriers were small nobodies. List them out and prove me wrong.

WOW.

Can't believe the way some folks respond to some questions with almost an attack!

First airline was Frontier (the Original Frontier which perhaps some people never heard about)
Was absolutely top notch and second to only Delta back then.
Squezed out by corporate sheningans into a total shutdown, with nothing left.
Couple of Furloughs as many of us had in the day also.

Complete start over several months later at Continental, which was slowly recovering from it's second bankruptcy.
Pay check here was about 1/3 of my old pay and minimal benefits.
Not a fun place back then.

Last was UPS.
Got 25 years out of this one and a real pension.
Yes, I am old.
72 years now and loving my life as a retired pilot with good success in my career.

One secret I'll share with the group here, is don't go after people that are just asking questions!

I hope people at Spirit can have a recovery like I was lucky enough to pull off.

And to "CincoDeMayo", here's this:
Phrases like "Flies as a Captain", "Is a Captain", "holds Captain senority", and probably a 100 other ways of stating something this, shouldn't really trigger a response.
Sorry the wording isn't perfect by your standards, but the point is still made.

A good friend was in charge of some of the pilot hiring at a very major airline.
One place several of you candidates, assuming you no longer have a job at your carrier or maybe you are brand new to 121 flying, would get tripped up at is the part where they ask you to show them your activities on social media like here.
They typically prefer people that go with the flow, not ones that stir things up.

Perhaps you might want to reconsider your ststements.

Anyway as said before, good luck everyone.

CatPilot1 11-19-2024 12:41 PM


Originally Posted by jabr800 (Post 3853710)
WOW.

Can't believe the way some folks respond to some questions with almost an attack!

First airline was Frontier (the Original Frontier which perhaps some people never heard about)
Was absolutely top notch and second to only Delta back then.
Squezed out by corporate sheningans into a total shutdown, with nothing left.
Couple of Furloughs as many of us had in the day also.

Complete start over several months later at Continental, which was slowly recovering from it's second bankruptcy.
Pay check here was about 1/3 of my old pay and minimal benefits.
Not a fun place back then.

Last was UPS.
Got 25 years out of this one and a real pension.
Yes, I am old.
72 years now and loving my life as a retired pilot with good success in my career.

One secret I'll share with the group here, is don't go after people that are just asking questions!

I hope people at Spirit can have a recovery like I was lucky enough to pull off.

And to "CincoDeMayo", here's this:
Phrases like "Flies as a Captain", "Is a Captain", "holds Captain senority", and probably a 100 other ways of stating something this, shouldn't really trigger a response.
Sorry the wording isn't perfect by your standards, but the point is still made.

A good friend was in charge of some of the pilot hiring at a very major airline.
One place several of you candidates, assuming you no longer have a job at your carrier or maybe you are brand new to 121 flying, would get tripped up at is the part where they ask you to show them your activities on social media like here.
They typically prefer people that go with the flow, not ones that stir things up.

Perhaps you might want to reconsider your ststements.

Anyway as said before, good luck everyone.

This has to be a troll. No way a 72 year old gets on APC still; well at least I hope not/should not. Show me your APC account during an interview at a ‘very major’ airline interview lol! I guess I’ll show em my only fans; bunch of perverts. Social media wasn’t a thing when ‘your friend’ was interviewing people 50 years ago. I’m serious; the mental image of a 72 year old cargo pilot(picture jimmy carter at his last birthday-cause cargo pilots age very well) warning me about having to show my APC posts at my next interview is killing me. I can’t take it; this is too damn funny. Beat it stupid!

jabr800 11-19-2024 12:52 PM


Originally Posted by CatPilot1 (Post 3853726)
This has to be a troll. No way a 72 year old gets on APC still; well at least I hope not/should not. Show me your APC account during an interview at a ‘very major’ airline interview lol! I guess I’ll show em my only fans; bunch of perverts. Social media wasn’t a thing when ‘your friend’ was interviewing people 50 years ago.

WRONG CatPilot1 !!!!

I'm here because I mentor and Career Coach several upcoing pilots that have pretty high standards, and I like to know a few things that aren't in my normal circle of activities, so I seek out a few things here!

My guess is your attitude toward others, may prevent you from fully exploting your career options.

Never said my friend in the interview department was from 50 years ago.
It was 6-7 years ago for that conversation, and the policy still applies so better watch out.

My question was originally about what changes have been announced so far for the pilot force at Spirit, and there seems to be a tremendous thread creep here.
Thanks to the couple of folks that offered relavant answer to my questions!!!

CatPilot1 have a nice day and maybe you'll figure things out one day.
I'm not going to hang around and feed the fire here started by others.

AutoBrksMedium 11-19-2024 01:04 PM


Originally Posted by FriendlyPilot (Post 3852672)
Spirit shareholders are already wiped out. Stock price is $1.13 today down over 97% from highs. Most lont term investors have already sold and are gone. What's left is noise trading or people that forgot they have $SAVE in some random stock account.

Doesn’t the stock price go to zero and then removed from the stock market as part of the bankruptcy?

PNWFlyer 11-19-2024 01:29 PM


Originally Posted by AutoBrksMedium (Post 3853734)
Doesn’t the stock price go to zero and then removed from the stock market as part of the bankruptcy?

No.

Filler. Don’t feel like explaining it.

flyboyike 11-19-2024 02:50 PM


Originally Posted by rickair7777 (Post 3853646)
...you might find you can bang out much earlier than you thought (especially at our income levels).

This is true.

Acehole 11-19-2024 04:59 PM


Originally Posted by jabr800 (Post 3853710)
WOW.

Can't believe the way some folks respond to some questions with almost an attack!

First airline was Frontier (the Original Frontier which perhaps some people never heard about)
Was absolutely top notch and second to only Delta back then.
Squezed out by corporate sheningans into a total shutdown, with nothing left.
Couple of Furloughs as many of us had in the day also.

Complete start over several months later at Continental, which was slowly recovering from it's second bankruptcy.
Pay check here was about 1/3 of my old pay and minimal benefits.
Not a fun place back then.

Last was UPS.
Got 25 years out of this one and a real pension.
Yes, I am old.
72 years now and loving my life as a retired pilot with good success in my career.

One secret I'll share with the group here, is don't go after people that are just asking questions!

I hope people at Spirit can have a recovery like I was lucky enough to pull off.

And to "CincoDeMayo", here's this:
Phrases like "Flies as a Captain", "Is a Captain", "holds Captain senority", and probably a 100 other ways of stating something this, shouldn't really trigger a response.
Sorry the wording isn't perfect by your standards, but the point is still made.

A good friend was in charge of some of the pilot hiring at a very major airline.
One place several of you candidates, assuming you no longer have a job at your carrier or maybe you are brand new to 121 flying, would get tripped up at is the part where they ask you to show them your activities on social media like here.
They typically prefer people that go with the flow, not ones that stir things up.

Perhaps you might want to reconsider your ststements.

Anyway as said before, good luck everyone.

just out of curiosity, what year did you get on with continental?

ShyGuy 11-19-2024 05:23 PM


Originally Posted by putzin (Post 3853590)
At the current rates, you’ve made more than enough to compensate your “loss”. We all have. None of us ever dreamed we’d be making 4-600k a year this easy.

But like most millennials you still whine, like somebody owes you something. The amount we all have is insane and an incredible blessing.

There, I said it.

edit: Honestly look around the world and tell me how tough we have it. This is not about thinking we should be working for free, far from it.

It's a seniroity system. I didn't ask for it. It just is. And the retirement limit is the only guaranteed way to get that movement that all of THEM enjoyed through their careers.

The compensation argument falls flat, because they too are making those high wages now.

"Somebody owes you something?"

Who owed those guys to work from 60 to 65?

Who owes them now to work from 65 to 67?


This started with a Delta pilot whose brother was a politician, who got 67 into some appropriations bill. You really want to talk about greed and entitlement?

jabr800 11-19-2024 05:47 PM


Originally Posted by Acehole (Post 3853820)
just out of curiosity, what year did you get on with continental?

Late 1986 thru Mid 1988!
Many of us weren't happy then.

UPS came along and off I went!!!

SSlow 11-19-2024 06:05 PM


Originally Posted by jabr800 (Post 3853653)
Perhaps SSlow, however, I've been at 3, 121 carriers, and this is how is went everytime.
As they say, history repeats itself!

Noted!

Nice posting btw, it looks like you're well on your way to making tons of new friends here.

Halon1211 11-19-2024 06:23 PM


Originally Posted by AutoBrksMedium (Post 3853734)
Doesn’t the stock price go to zero and then removed from the stock market as part of the bankruptcy?

SAVE is now “SAVEQ” and trading at 15¢ a share currently.

but yeah, I thought it would be wiped out too, but I’m glad to hear that share holders still have some equity for what it’s worth.

It’s a little harder to place a trade since they’re now on OTC.

putzin 11-21-2024 06:50 AM


Originally Posted by ShyGuy (Post 3853832)
It's a seniroity system. I didn't ask for it. It just is. And the retirement limit is the only guaranteed way to get that movement that all of THEM enjoyed through their careers.

The compensation argument falls flat, because they too are making those high wages now.

"Somebody owes you something?"

Who owed those guys to work from 60 to 65?

Who owes them now to work from 65 to 67?


This started with a Delta pilot whose brother was a politician, who got 67 into some appropriations bill. You really want to talk about greed and entitlement?

And it’s back.

https://www.usnews.com/news/top-news...retirement-age

Stayontarget 11-21-2024 07:02 AM


Originally Posted by putzin (Post 3854272)

Why don’t they worry about ATC retirement age first?

rickair7777 11-21-2024 07:34 AM


Originally Posted by putzin (Post 3854272)

It was 100% obvious that the proponents would try again with regime change. It's possible now, but hard to say how likely. I'd guess less likely with Legacies opposed.

putzin 11-21-2024 07:41 AM


Originally Posted by rickair7777 (Post 3854298)
It was 100% obvious that the proponents would try again with regime change. It's possible now, but hard to say how likely. I'd guess less likely with Legacies opposed.

Maybe. I don’t remember where the airlines stood, just that 90+% of us were opposed to it when Alpa asked us to vote on it the first time.


putzin 11-21-2024 07:51 AM


Originally Posted by Stayontarget (Post 3854279)
Why don’t they worry about ATC retirement age first?

Right?!?!?

rickair7777 11-21-2024 07:52 AM


Originally Posted by putzin (Post 3854304)
Maybe. I don’t remember where the airlines stood, just that 90+% of us were opposed to it when Alpa asked us to vote on it the first time.

A4A (Big Majors): Presumably Opposed ($ training churn)

RAA, NACA, NBAA: Presumably in Favor (slow the attrition to legacies, retain top pilots longer)

69fastback 11-21-2024 07:56 AM


Originally Posted by putzin (Post 3854304)
Maybe. I don’t remember where the airlines stood, just that 90+% of us were opposed to it when Alpa asked us to vote on it the first time.

I don’t recall ALPA asking us our opinion on it. I do remember them telling me that I oppose it though.

CincoDeMayo 11-21-2024 08:18 AM


Originally Posted by rickair7777 (Post 3854310)
A4A (Big Majors): Presumably Opposed ($ training churn)

RAA, NACA, NBAA: Presumably in Favor (slow the attrition to legacies, retain top pilots longer)

ALPAs official position is they are against raising the retirement age from 65

There isn’t a pilot shortage or high demand as there was a few years ago when this came up. Like ALPA said earlier this year, “it’s a solution in search for a problem”.

Biggest issue is Thune is behind it, and he is the incoming majority leader. So hard to say how much pull he will have.

rickair7777 11-21-2024 08:54 AM


Originally Posted by CincoDeMayo (Post 3854328)
ALPAs official position is they are against raising the retirement age from 65

There isn’t a pilot shortage or high demand as there was a few years ago when this came up. Like ALPA said earlier this year, “it’s a solution in search for a problem”.

Biggest issue is Thune is behind it, and he is the incoming majority leader. So hard to say how much pull he will have.

Yes ALPA is opposed and I applaud them fdor representing the vast majority of their members' preference on the issue. That's their job.

symbian simian 11-21-2024 09:12 AM

I don't want it to change until I turn 64.

Ed Force One 11-21-2024 09:19 AM


Originally Posted by rickair7777 (Post 3854341)
Yes ALPA is opposed and I applaud them fdor representing the vast majority of their members' preference on the issue. That's their job.

They were opposed to 65 too. Then when it became obvious that it was going to pass, they suddenly were in support.

rickair7777 11-21-2024 09:48 AM


Originally Posted by Ed Force One (Post 3854352)
They were opposed to 65 too. Then when it became obvious that it was going to pass, they suddenly were in support.

They had a reason to do that... a seat at the table so they could get some reasonable guard-rails baked into the legislation. Such as people under age 65 who had already retired were not entitled to return with seniority intact.

I was somewhat concerned this last time that they appeared to not be engaging the opposition... if the legislation had gotten through it might have been half-baked in some ways.

fcoolaiddrinker 11-21-2024 09:56 AM


Originally Posted by Ed Force One (Post 3854352)
They were opposed to 65 too. Then when it became obvious that it was going to pass, they suddenly were in support.

The way I remember last time alpa was opposed to 65 after a vote (that I participated in) failed something like 60-40. Then several legacies lost pensions. Another vote (that I didn’t participate in) passed. That’s why they were then in support. It was a while ago so I could be wrong?

Noisecanceller 11-21-2024 10:01 AM


Originally Posted by 69fastback (Post 3854312)
I don’t recall ALPA asking us our opinion on it. I do remember them telling me that I oppose it though.

They did and you do

Noisecanceller 11-21-2024 10:06 AM


Originally Posted by Stayontarget (Post 3854279)
Why don’t they worry about ATC retirement age first?

This is just like the majority of the American working population saying I don’t get that pay, that benefit, that retirement. Unions are bad! Every time a union contract comes up in the news.

Just because we are facing a threat doesn’t mean we should point the gun at an ally.

Noisecanceller 11-21-2024 10:10 AM


Originally Posted by putzin (Post 3854272)

I get older and these crotchety old *******s stay the same age

69fastback 11-21-2024 10:42 AM


Originally Posted by rickair7777 (Post 3854341)
Yes ALPA is opposed and I applaud them fdor representing the vast majority of their members' preference on the issue. That's their job.

Again, I guess I missed where they alsed us the question, in order to determine “the vast majority.”

I do recall them telling me that I oppose it.

Noisecanceller 11-21-2024 10:52 AM


Originally Posted by 69fastback (Post 3854387)
Again, I guess I missed where they alsed us the question, in order to determine “the vast majority.”

I do recall them telling me that I oppose it.

Again, you were surveyed and you do oppose it

69fastback 11-21-2024 11:09 AM


Originally Posted by Noisecanceller (Post 3854392)
Again, you were surveyed and you do oppose it

I may oppose it, or I may not, but I was defintely never asked. Only told, but that’s the way ALPA works.

Noisecanceller 11-21-2024 12:23 PM


Originally Posted by 69fastback (Post 3854401)
I may oppose it, or I may not, but I was defintely never asked. Only told, but that’s the way ALPA works.

Again, you were asked. If you chose to delete the email that’s on you

69fastback 11-21-2024 12:57 PM


Originally Posted by Noisecanceller (Post 3854419)
Again, you were asked. If you chose to delete the email that’s on you


😂 okay, skippy. Thanks for taking the ALPA stance of telling me what I do, and don’t, want. Along with what I have, and have not recieved. I’ll be sure to ask you and ALPA what else I need. Hey, can you tell me what date I was sent this email, and why it’s not in my ALPA folder of my email account? Thanks


Telling someone about their personal info is a good way of saying you’re a narcissist, without saying you’re a narcissist.


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