There has only been one airline bankruptcy since the bankruptcy law change. It’s now much less management friendly. Ask the then AA management how their bankruptcy worked out for them. Here is a hint: the AA management group lost control of the process and American is now run by the team from Phoenix.

Yeah, the neighbors probably think the $95 / hr is for a 40 hr work week x 4 for a months pay. Not how it works. Not their business either. Everyone needs to take care of their family.

I agree though, why not wait for the union to come back with something?

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Why are you allowing this 'individual' on here?

Motch

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Scoop

Duriing the last bankruptcy, the neighbors thought I worked 80 hours a month. Like 20 hours per week.

Short term pay cuts not a good option for pilots. We can't manage what we can't manage. Giving up our pay still doesn't give us any control over the decision making.

Fly your trip for the negotiated pay rate and go home.

Taking a pay cut only helps the institutional investor, it doesn't help the employees. if management needs a loan they can get one with their good credit and/or any government programs.

We may all need to take out a few loans. Heck, ,if we negotiate give-backs, all pilots are going to be at the bank lining up. Better way is just to have management at the bank getting access to the capital they need.

The pilot group isn't a bank. We aren't a coin operated one-arm bandit. Banks give and lend money. Pilots...no, we've given way too much and haven't had it returned.

Not being mean or petty, but being real. If you were working on active duty in the military you wouldn't be negotiating a new pay rate for a first lieutenant or a major....same applies here.

That was only the first job. When you added up jobs 1, 2, and 3 you were pushing 90 plus billable hours a week.

If I were the government I would not provide funding or loans to any company without instant, non-negotiated compensation changes for executives and highly compensated employees. Companies that bought back their own shares instead of making the company healthier would have to surrender those shares to the Treasury in exchange for funding, and they only get them back if they can pay the Treasury back.

No negotiations. Take it or leave it. "No" means Chapter 11 at a minimum, probably Chapter 7 because no lender would provide DIP financing in these circumstances.

Just like when we declare an emergency in an airplane, the country has declared an emergency. They will do what they need to do to survive as a society.

I would expect it before the middle of next week.

Be careful what you wish for. Highly compensated employees may include those making over 100k a year, ie, all of us pilots.

I consider pilots highly compensated employees. At least until the end of this week.