EffSY

This airline is a complete POS. Seems like they have absolutely zero desire to go into the red to prevent all of their employees from doing the same.

jcool734

I would assume bail out or furlough you would thing


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apex7

Please submit inquiries to all the news agencies, lets blow this up RIGHT NOW. Tell them how Sun Country wants to furlough and still ask the state/government for bailout money. I'm sure the community will be thrilled to pay our salaries in unemployment for the next few months

https://minnesota.cbslocal.com/contact/

https://www.kare11.com/contact-us

Onedayatatimee

You gotta remember this is high stakes and coming down to the wire. Congress getting close on reaching a stimulus deal. I’m guessing Sun Country is privy to inside knowledge on how it’s looking for government aid. Must not be looking good right now.

ALPA reps thank you for your hard work this past week. Don’t cave to any cuts with out a return on investment.

I personally don’t think we need to give them anything. The money is there to keep the lights on for two months with employees fully paid as COVID 19 situation works its self out. If after two months things are still dyer then we can talk giving relief.

Let them furlough, they don’t want to shut it down permanently, passenger flying will come back eventually and the core business “10 up to 25 Amazon birds” is still there. Taking big cuts with nothing in return would be a huge mistake. Will take years to recoup. We would be doing Jude a favor twice by saving him money on not having to furlough and providing him even cheaper labor then he has already enjoyed the last 2-3yrs.

CaptainSlow

^ this. It’s a hard truth, but well said.


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senecacaptain

Watching from the sidelines, I am not surprised they act like this. Dollars over people. Apollo Private Equity "invested" in Sun Country to make a return on their investment, which now appears unlikely. If you look at their website they call it an "opportunistic buy out." Now it appears to be "more work than it is worth" and here we are today. Cut expenses, shave costs.

It appears the gameplan from Day-1 was to IPO the company, let the stock price rise, and make a huge return in their investment, having "repaired" Sun Country and cleaned things up. Now, with the market crashing, this plan has been **** canned and Apollo management has probably asked each "now what do we do with this investment that has no chance or profitability (for us) anytime soon."

I would highly doubt they participate in any government bailout, as that would handcuff them to the federal government, additional regulation and compliance, and other stuff. Free cash, sure. But we know that is not likely (cash).

Apollo's stock price has taken a huge hit, and they may be under pressure from their own share holders to tidy things up.

https://stockcharts.com/c-sc/sc?s=AI...=1584848182627

https://www.apollo.com/our-business/private-equity

$$ over people

majorpilot

Most regionals don’t own their own aircraft and lack the assets to securitize loans. And the wholly-owneds don’t control their destiny, their owners do.

Independents that own their own aircraft (a small group) might be best positioned...but they still depend on their customers—limited to four majors.

CaptainSlow

Good point.

Based on the news stories about negotiations in the House, the final bill may not even resemble the Senate proposal anyway. Who knows how the House version will divvy up the proceeds, and whether the secured loan language will be included. I just hope there is some kind of labor protections written into the final version.


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Onedayatatimee

If you get a chance sooner then later make sure to write your Senator stating your concerns with the Airline Stimulus package.

The more of us that do it the more leverage we have.

Shako68

Airlines for America sent in a letter to Congress signed by 10 carriers...SY wasn’t one of them!

sad how much effort has gone into saving this place over the years for basically nothing in return...time to let this turd sink to the bottom of the ocean!!!