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
Gets Weekends Off
Joined: Jun 2007
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From: 767/757 CA
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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Hoping the same (again) is an option for Jetblue as we saw the same results. Offered 50 hour stay home lines and junior award in Boston 320 left seat was 15% company wide. I suspect they could double that and still not even hit 50% seniority.
03-25-2020 | 04:50 PM
#5
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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: Jul 2014
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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: Dec 2018
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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
Gets Weekends Off
Joined: Oct 2017
Posts: 220
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From: 777 FO
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: Oct 2015
Posts: 788
Likes: 10
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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