Sixty N Two

This is the canary in the coal mine. If they stop training new IPs I’ll believe they have any sense of hope that this TA will bridge us to a recovery. SK has said repeatedly we don’t recover until a vaccine is available and that is end of 2021. This whole pandemic situation and the choices we have to make suck!

okawner

Pretty obvious from the I/E pay in the LOA that they want to keep TK fully staffed if it passes. I was hoping they would have trouble filling those spots but doesn't appear likely.

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MiLa

I’m not sure what you’re alluding to but the I/E pay has reductions as well. The pay is structured differently to begin with, so the reductions have to be structured differently. Essentially though an I/E in the lower 3rd is normally paid 90 hours and under the T/A can have work days reduced down to the equivalent of 50 hours.

TransWorld

I would only partly agree with you. Myself included, anticipated she would pass away sometime in the next few years. That was expected.

That she passed away right when 2.0 was in the process of being negotiated (at least a chance), that is a black swan event.

If she had passed away a month from now it would not have been a black swan event for 2.0. It is when they both occurred at the same time is what makes it a black swan event.

dmeg13021

I’ll give you a different canary though:

If the TA fails, and the company needs massive furloughs immediately to reduce cash burn, why haven’t they sent out any more furlough notices? That would certainly up the ante on voting, right? And more pressure for CARES extension? Even if notices went out tomorrow, they can’t go past 2850 until the end of the year. If the TA passes, they’re all cancelled anyway.

Speculate away.

Barley

Does it retain a lot of heat? The foam type stuff I’ve used in the past gets incredibly hot. Also, how are your conspiracy theories on a successful TA outcome going today? Find a few more nutty mcnutterbeans to tag along with tales of deception and fear?

Oh calm down calm down.. no but really does the Casper retain heat?

biggun

Any update as to if any other employee groups are being asked to negotiate give-backs?

Would love to know what the other groups are being asked to do...........


Is it just the pilots?

DH2time

So does the TA up for vote supersede in the entirety the current CBA? Does the current TA not have out clauses based on many different possible scenarios including bankruptcy? Do you think this legally binding agreement will somehow be the basis the company uses when and if it decides it files?

I think you need to get a better mattress bro. Your Sealy is keeping you up at night and it’s making you paranoid. It’s pretty clear this has out clauses for just about every single possible outcome. This TA is a stop gap to hopefully keep the company moving toward the goal line of getting out of this mess. Look at the financials bro, if this company decides to shrink 30 percent they can not generate enough revenue to be a sustainable business. They will not have the ability to defend their market share and the cost to retake market share will be too high moving forward. Management is backed into a corner and they need a little help. You think management would not dump 3900 pilots October 1 if they could? Absolutely, but they see the financials, they have played the war games in the C suite, they see and know what’s going on and determined this is the best battle plan. Read the financials please, take 40-50 percent off the revenue pile and see if they can make debt obligations moving forward. Why 40-50 percent? Because if they shrink 30 percent they lose any and all of the pricing power they once had and it will not be coming back. They would be a market follower and not a leader.

Make no mistake about it IMO if this TA fails in 18 months United will be in court. They will not be financially viable moving forward. Call up your financial analyst and ask about his/her take on investing in United. Ask questions, ask about financials moving forward, ask about debt obligations. Or do it yourself, personally I get a high off SEC filings and enjoy the read but that’s a prior life.

To wrap up this way too long post, one is making a choice of a guaranteed court date or giving the company and some pilots a shot at making it to the other side.

DH2time

Casper is GREAT! Dissipates heat well and provides enough traction for bed gymnastics.

Dogbelch

There is a guaranteed court date coming regardless of this agreement and how generous of us to finance the potential turnaround! I also never said this is legally binding but with that court date only a fool would believe the bk judge or company lawyers wouldn’t leverage this against us. I will reiterate my main position and heartburn there is no upside for us in a recovery mode. 5%?? That almost insulting. How about granting us some of the stock the company blew billions on? The billions that would get us through this time crunch. Management backed themselves into this financial corner and I don’t see them offering their salaries for this turnaround plan with their war games.
You do bring up good points that I don’t disagree with. My beef is who finances it and the return on investment.

Btw, I sleep just fine at night but I’ll mention the 6k bed to the wife.