UAL JCBA and AMR/APA rumor
08-07-2011, 07:09 PM
#21
Gets Weekends Off
Joined APC: Oct 2005
Position: Capt. B737
Posts: 329
If I remember correctly, APA held out for a "snap back" for the American pilots. Not sure if it applies to the whole contract, but it's a good concept. Seems to have been lost on 58% of the CAL pilots when the concessionary contract was offered. Now CAL ALPA is negotiating to get back what it already had. But instead, we basically went into the aircraft finance bitness.
08-07-2011, 07:28 PM
#22
Gets Weekends Off
Joined APC: Feb 2006
Position: 767A (Ret)
Posts: 6,248
Originally Posted by sailingfun
Delta was flat broke when they went into Chapter 11. If anything they tried to hard and waited to long to file. Managements compensation was almost entirely tied up in massive numbers of stock options. Options they knew they would lose if they filed. The airline was literally 60 days from not making payroll and cash on hand was below the amount most financial people felt was the minimum to enter chapter 11. You have to go almost all cash when you file so you need a cash cushion. Most felt Delta needed 1.5 billion. Instead they waited until they were down to almost 1 billion.
