Quote:
Originally Posted by syd111
So you don't think c2000 contributed to the ch-11 filing?
I never said that.
My problem is with those who say that the C2000 caused UAL's CH11 filing/furloughs and therefore we should never again receive a large contract. It kinda goes along the same line of thought that the pilots were solely responsible for for the Summer of 2K.
The CH11 filing was the result of many events. Rapid growth leading up to the dot com bust, 9/11, increasing fuel costs, and yes, costlier contracts. The company knew of their cash flow problems in the spring of 02. They even knew that if they let current events run their course, we would hit our min cash limit Nov 02 time frame. From my perspective, it seemed like they wasted a lot of time trying to solve the problem. One could even argue they wanted to go bankrupt, shred the contracts, pensions, and ESOP all at once.
It nauseates me to hear someone, let alone a pilot, neatly wrap a large contract gain into a CH11 filing and furloughs. C2000 was essentially an inflationary increase from 1994 to 2000 plus a modest contractual gain. I'm not going to speak for Mr. Average IAH pilot, but coming off a nearly 50% pay cut 8 years ago, I will not vote for an "average contract" and continue to fund our bankruptcy of 3 years ago and senior management's bank account.