Frontier pay cuts?

[F/O]

My understanding is the union has agreed to pay cuts. Just wondering if they have told the pilots yet what they will be voting on.

 

[flaps30]

Ouch, how much? Guess you gotta make up for those $59 tickets and chip in for gas.

 

[climb2slow]

An LOA is going for a vote starting today, so to say something is agreed to would be premature. That being said it'll probably pass. Too many "save the company" koolaid drinkers here. It looks like 14.5% with kickbacks in september and no changes to work rules or premium pay. That's the nutshell.

 

[The Victors]

Kickbacks in September? After the busy summer season? Ya right.

 

[waterski]

What about the company match 401k

 

[Lear70]

Kickbacks in September? After the busy summer season? Ya right.

My thinking exactly... It won't be kickBACKS, it will be kick-OUTS, as in furloughs, along with half the rest of the industry about that time if fuel prices don't retreat under $100 (which they won't).

The new bankruptcy laws will require final financing and an exit date pretty close to then, so the rubber will meet the road one way or another.

Good luck...

 

[skystud25]

Major points are...
- 14.5% reduction for all except year 1 FO payrates from June 08-Sep 08 (4 month period).
- First Year FO payrates reduced 1%.
- No company 401K match for that period.

Not sure if above poster was implying that the money would eventually be given back, but I'm not sure how any of us could ever see that happening. FAPA's position is in support of the measure, and they believe that it will help secure DIB (debtor in possession) financing, as it will really do little to the bottom line.

The official name of the LOA is the "Interim Restructuring Relief Agreement."

Best wishes to all my friends at F9.

 

[Flash]

Is management taking pay cuts?

 

[Quimby]

paycuts don't save companies...

vote no.

 

[hockeypilot44]

paycuts don't save companies...

vote no.

Great post. If the company is going to make it, your paycuts will not be the reason. Vote no. You have a contract. Make them abide by it.

 

[Quimby]

Great post. If the company is going to make it, your paycuts will not be the reason. Vote no. You have a contract. Make them abide by it.

bingo.

the co's that are gone now that went through rounds of paycuts should be evidence enough.

 

[stillflyn]

This won't help in the long run. All companies should think of crew as a fixed cost.

 

[PCL_128]

Just say NO.

 

[ricj41]

It ain't that easy, just saying no. If we do vote no then the company can go to the judge and he can force it on us. He can also make it under terms he deems appropriate. With the majority of our employees non union and taking the cuts to think a judge wouldn't force it on us is ridiculous. That being said, I am not happy with it and haven't made up my mind.
It looks to be 10% with no 401k match. Our CEO and the executive team all took 20% cuts starting May 1st.

 

[PCL_128]

I'm betting that the company hasn't even prepared an 1113(c) filing yet. It will take them time to prepare and present it to the judge. It isn't as easy as just walking into court and asking for concessions. It would take months for the company to get forced concessions from the judge. That's months more of better pay while you get your ducks in a row. No need to willingly bend over.