Stimulus package deal soon
03-25-2020, 06:30 AM
#1
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Stimulus package deal soon
https://www.cnn.com/2020/03/25/polit...rus/index.html
so... no furloughs until at least September then. Isn’t that the gist of the email that Oscar and other airline CEOs sent to Congress?
cautiously optimistic...
so... no furloughs until at least September then. Isn’t that the gist of the email that Oscar and other airline CEOs sent to Congress?
cautiously optimistic...
03-25-2020, 06:55 AM
#2
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Joined APC: Jun 2007
Position: 767/757 CA
Posts: 2,608
Originally Posted by Legacy500
https://www.cnn.com/2020/03/25/polit...rus/index.html
so... no furloughs until at least September then. Isn’t that the gist of the email that Oscar and other airline CEOs sent to Congress?
cautiously optimistic...
so... no furloughs until at least September then. Isn’t that the gist of the email that Oscar and other airline CEOs sent to Congress?
cautiously optimistic...
03-25-2020, 08:32 AM
#4
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Joined APC: Jun 2006
Posts: 3,945
Originally Posted by Mudge
Summer load factors will be the metric for post September furloughs. Now about those SRLs. Went senior in my BES. Shell out a few hundred more and save some money.
03-25-2020, 04:50 PM
#5
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Posts: 1,818
Originally Posted by Legacy500
https://www.cnn.com/2020/03/25/polit...rus/index.html
so... no furloughs until at least September then. Isn’t that the gist of the email that Oscar and other airline CEOs sent to Congress?
cautiously optimistic...
so... no furloughs until at least September then. Isn’t that the gist of the email that Oscar and other airline CEOs sent to Congress?
cautiously optimistic...
03-26-2020, 06:33 AM
#6
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Joined APC: Jul 2014
Posts: 783
Actual bill language
Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months
Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021
If UAL management takes just the loan they COULD still furlough pretty deep into the pilots. 10% of 100,000 employees and we have the bigger payroll compared to other work groups. If we give them voluntary furloughs and reduced lines they still have that 10% of involuntary furloughs. The bill does some good but there are a lot of ways for management to manipulate its implementation.
Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months
Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021
If UAL management takes just the loan they COULD still furlough pretty deep into the pilots. 10% of 100,000 employees and we have the bigger payroll compared to other work groups. If we give them voluntary furloughs and reduced lines they still have that 10% of involuntary furloughs. The bill does some good but there are a lot of ways for management to manipulate its implementation.
03-26-2020, 06:44 AM
#7
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Joined APC: Dec 2018
Posts: 1,066
Originally Posted by Aquaticus
Actual bill language
Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months
Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021
If UAL management takes just the loan they COULD still furlough pretty deep into the pilots. 10% of 100,000 employees and we have the bigger payroll compared to other work groups. If we give them voluntary furloughs and reduced lines they still have that 10% of involuntary furloughs. The bill does some good but there are a lot of ways for management to manipulate its implementation.
Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months
Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021
If UAL management takes just the loan they COULD still furlough pretty deep into the pilots. 10% of 100,000 employees and we have the bigger payroll compared to other work groups. If we give them voluntary furloughs and reduced lines they still have that 10% of involuntary furloughs. The bill does some good but there are a lot of ways for management to manipulate its implementation.
which is probably in line with the bills intention. The goal is to save the largest number of jobs - not necessarily the highest paying jobs.
i doubt there will be much outcry if they go deep in pilots and keep it easy in other work groups.
our real protection is in the training cost that this would incur.
03-26-2020, 07:21 AM
#8
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Joined APC: Oct 2017
Position: 777 FO
Posts: 217
Originally Posted by TFAYD
which is probably in line with the bills intention. The goal is to save the largest number of jobs - not necessarily the highest paying jobs.
i doubt there will be much outcry if they go deep in pilots and keep it easy in other work groups.
our real protection is in the training cost that this would incur.
i doubt there will be much outcry if they go deep in pilots and keep it easy in other work groups.
our real protection is in the training cost that this would incur.
In a letter Saturday, the executives wrote, “If worker payroll protection grants are enacted, equaling at least $29 billion, participating passenger and cargo air carriers will not furlough employees or conduct reductions in force through August 31, 2020.” (Forbes)
03-26-2020, 07:24 AM
#9
Orbis Non Sufficit
Joined APC: Oct 2015
Posts: 730
Originally Posted by Aquaticus
Actual bill language
Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months
Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021
Page 510 - 25B loan
- allowance for 10% of total workforce immediate involuntary furlough
- stock buy back/dividend restrictions until loan is paid back +12months
Page 589 - 25B possibly a grant
- with no involuntary furloughs or pay cuts until 9/30/20
- no stock buybacks or dividends until Sept 30, 2021
The takeaway? There WILL be pilots hitting the street in October. Hopefully in the interim a) the virus/demand situation improves, albeit however slightly, and b) the union and company will have time to do some really, REALLY outside-the-box thinking about programs to mitigate the numbers.
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