Any new info on Continental Airlines? Future hiring?

NavinRJohnson

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Read up on some of the older threads. The short of it is we have 147 on furlough, and they tried to furlough approx 150 more this fall. Furlough mitigation efforts stopped the extra bunch going onto the street.

I would say no movement until next year. When is a big question I think everyone is asking.

My 2 cents, but I think the company is waiting until Nov to see how many retirement letters come in (Lump Sum is changing to a corporate bond/GATT combo). That will determine our next couple of system bid requirements.

Not so positive is the bottom line. Wish I could say otherwise...
 

PeanuckleCRJ

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Great googly moogly that is the most painful avatar.....
 

IAHERJ

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hmmm?
Recent announcements from inside include more commitment for the 787 as well as keeping all the 767's on property when the 787's arrive. It was said previously that we would probably start to phase out the 767-200's when the 787's came on property. CAL has decided to keep all wide-body aircraft on property and add to them with the additional 777's and the 787's. We get our first 787 at around #39 off the line. We are firming up our delivery slots in the form of shifting around delivery spots on other Boeing aircraft. Still getting 737's in 2010 as well as 2 777's and 4 757-300's.
My guess on hiring would be late 2010 or early 2011. New FAA rest rules to be out later this year and in effect late next year along with additional airframes and a slight economic turnaround should result in more block hours flown vs. 2009 and thus recalls and the possibility of hiring in 2010. A new contract late next year with the work rule changes expected will surely result in significant hiring for 2011. Sorry for the hint of optimism but I think things are going to start turning around soon.

IAHERJ
 

NavinRJohnson

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Great googly moogly that is the most painful avatar.....
Bulls don't like blue leotards, I guess...

IAHERJ: Good info, but I won't be holding my breath on that contract. I wouldn't be surprised if we go well into 2011 or beyond. RETRO PAY baby...

Everything else you said though is a safe bet.
 

SFR

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This place sucks.... Stay where you are... I wish I had

Are you kidding? I have 0.0 (zero) hours for Sept and am still getting paid 76 hours blended on 756...

If I would have stayed where I was (ASA) I would get probably 70 bucks an hours and fly all month in a crappy little airplane.....


So, how does this place suck???
 

atpcliff

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Hi!

CAL sucks the same way the DAL/UPS/FedEx/Cathay/Emirates, and about everyone else also sucks. Some pilots are completely unhappy at fed up at all of the above carriers.

cliff
NBO
 

ATRCA

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I'm gonna go out on a limb and say recalls in April 2010 and hiring in April 2011. That's BEST CASE scenario. The reality could be much worse. The other side is a merger with UAL leading to a combined debt more than all the nations of South America combined and a slow bleeding death by the new and improved Calnited. 50 billion in debt, mis matched fleets, angry employees and no real business plan. That's probably the real future.

Good luck!
 
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AWACoff

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I don't care what I say on the radio as long as I can say "I make a sh:tload of money".
 

rjacobs

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My 2 cents, but I think the company is waiting until Nov to see how many retirement letters come in (Lump Sum is changing to a corporate bond/GATT combo). That will determine our next couple of system bid requirements.
What exactly does a corporate bond/gatt do that the current system doesnt? I am sure it saves the company money otherwise they wouldn't do it.
 

DontFeedTheBear

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What exactly does a corporate bond/gatt do that the current system doesnt? I am sure it saves the company money otherwise they wouldn't do it.
The current A fund at CAL can either be taken in lump sum or annuity. The amount of lump sum is based on a function of the amount of annuity exposure the company has to the individual. The older the individual, the less exposure, so therefore less lump. Up until now the investment function has been based on the GATT rate, which historically is fairly low. With this, the company makes less money on the investment, so therefore more principle exposure to the individual=higher lump sum. The investment is now federally being phased over to the corporate bond rate starting in November. The corp bond is higher and has been, historically. So therefore less principle exposure=lower lump sum. Starting in Nov, the aging of the individual plus the corp bond integration will start lowering the lump sums by considerable amounts. The over 60 crowd will essentially start working for less money due to the loss of lump sum amounts. (200K salary-about 80k loss in lump sum= working for 120k and missing out on the golden years) This may force some to retire. Those that don't need bridge medical benefits, ie, Military, covered by spouse, may put their retirement letters with minimal notice.

Yogi
 

BID

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This place sucks.... Stay where you are... I wish I had
So why didn't you take your awesome skills and go to Delta or SWA?

A lot of people are trying to make the place better, and I believe they will succeed. Hopefully you will be gone by then and be happy once more.
 

SFR

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Yeah, it will be a better place...maybe I will actually fly negative hours in a reserve month!!!
 

EWR_FO

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My 2 cents, but I think the company is waiting until Nov to see how many retirement letters come in (Lump Sum is changing to a corporate bond/GATT combo). That will determine our next couple of system bid requirements.
If anyone is planning on retiring to make the GATT rate cutoff, they have already put their letter in if they want the bridge medical. I just flew with a guy who is leaving at the end of October because the rate change on Nov.1 will push his lump sum down, he gave his notice this past spring. The company will review shorter notices on a case by case basis and he said he has not heard of anyone being denied yet.

I wouldn't hold my breath for a giant influx of retirements.
 

skywdriver

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If anyone is planning on retiring to make the GATT rate cutoff, they have already put their letter in if they want the bridge medical. I just flew with a guy who is leaving at the end of October because the rate change on Nov.1 will push his lump sum down, he gave his notice this past spring. The company will review shorter notices on a case by case basis and he said he has not heard of anyone being denied yet.

I wouldn't hold my breath for a giant influx of retirements.
I agree, but the good thing is that the rate change will be occuring each 6 months. So, every 6 months, these guys are going to lose more and more money as I understand it as a higher percentage of the rate is calculated at the corporate bond rate.
 
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