AA Retirement?

Jet_Driver

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I am curious what is going on with the retirement program at AA. I hear so many rumors that there are as many as a few thousand pilots who are on the verge of leaving to save their retirement. Is this true?
 

Dangerkitty

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Jet_Driver said:
I am curious what is going on with the retirement program at AA. I hear so many rumors that there are as many as a few thousand pilots who are on the verge of leaving to save their retirement. Is this true?
A few hundred have retired early. That is all. There is no way a few thousand pilots are "on the verge" of retirement.
 

labbats

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I'm on the verge of retirement in 30 years.
 

Hoot R. Hunter

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Jet_Driver said:
.....there are as many as a few thousand pilots who are on the verge of leaving to save their retirement.
It's not inconceivable that 1500-2000 have locked-in a B fund price (which I believe is good for several months). However, locking in doesn't obligate you to exit stage right, just preserves a short-term funding option should the need to punch out arise.
 

Draginass

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I think there are 500 or so guys with prospective lock-ins, which doesn't mean much. If congress kills the lump sum payouts or the company even hints at BK, you can bet it'll look like a stampeed to the retirement office. Look for the possibility of that next Spring. Seventy dollar+ oil could start the melt down.
 

Jet_Driver

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labbats said:
I'm on the verge of retirement in 30 years.
Very clever labbats. And they let you fly airplanes? Someone take away his beer, he doesn't deserve any.

Anyhow, thanks for the info guys. I was just curious how that worked. I was jump-seating back from AGS with an International guy from AA who didn't finish explaining it to me.

While I have your attention, how lean is staffing over at AA? I hear rumors like you guys are so thin that if a few guys call in sick you have to cancel flights. Like it is cheaper to do that than to start another class up. Any rumors about classes at AA?

I'll bet labbats is standing in line for that. From the kind of whit he writes, I'd guess he's more likely on the verge of retiring in 30 years before he would get a job at AA.
 

plucky

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Heard the same thing last week from a 76 CA. He has his lock in and it is on a 90 day basis. He said that he wouldn't be suprised if there were about 1000 leaving overnight if change in Lump sum etc.
 

labbats

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Jet_Driver said:
Very clever labbats. And they let you fly airplanes? Someone take away his beer, he doesn't deserve any.

Anyhow, thanks for the info guys. I was just curious how that worked. I was jump-seating back from AGS with an International guy from AA who didn't finish explaining it to me.

While I have your attention, how lean is staffing over at AA? I hear rumors like you guys are so thin that if a few guys call in sick you have to cancel flights. Like it is cheaper to do that than to start another class up. Any rumors about classes at AA?

I'll bet labbats is standing in line for that. From the kind of whit he writes, I'd guess he's more likely on the verge of retiring in 30 years before he would get a job at AA.
Nice to see I can still get a rise out of you old blue hairs.
 

AA717driver

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AA takes such a huge whack for pilots retiring early it almost doesn't make sense. That's the difference between AA and some of the others. It may explain why AA is doing better financially than some other carriers. The massive retirements crushed Delta's cash reserves.

I'm sure there are 1,000 guys who WANT to go but it just doesn't make economic sense. That's one reason why sick calls are way up. Senior guys figuring out you don't get any prize for going out the door with 1000 hours in your sick bank. That and AMR treats their people like crap.

Only the elimination of the lump sum will cause a "mass" exodus from AA.TC
 

XTW

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Jet_Driver said:
Any rumors about classes at AA?

I'll bet labbats is standing in line for that. From the kind of whit he writes, I'd guess he's more likely on the verge of retiring in 30 years before he would get a job at AA.

Classes? You do mean recall classes and not new-hire classes right? There are 2860 furloughed pilots out there that need to either be recalled or quit before any new-hire classes start.


X
 
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G4G5

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Nobody leaves early at AA unless they are forced to. The way the AA pilots contract is written, retiring early just kills your pension.

Age -%
60-100
59-91
58-84
57-77
56-71
55-65
54-61
53-56
52-52
51-48
50-45

These are rounded off, their is an actual formula they use but this should give you an idea of the kind of hits pilots take.

A guy is not going to retire:
2 years early if it means losing 16%
3 years - 23%
5 years early - 45%
10 years = 65%
 
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STL717

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I'm 6 numbers from retirement.

I just can't figure out which 6 will win the PowerBall!!!
 
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