Any new info on Continental Airlines? Future hiring?

[Mad Dog 80]

Looking for any info regarding future hiring. Thanks

 

[NavinRJohnson]

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]

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

 

[100/hour/5y]

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

 

[IAHERJ]

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]

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]

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]

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]

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!

 

[CesnaCaptn]

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

Where were you before?

 

[luckytohaveajob]

M and A with a post 1999 hire staple.

Can CAL pilots say United on the radio?

 

[AWACoff]

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

 

[Mad Dog 80]

Thanks for the info guys.

 

[rjacobs]

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]

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]

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]

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

 

[EWR_FO]

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]

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.

 

[NEDude]

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

Cannot be as bad as an unemployment check.

 

[NavinRJohnson]

How much notice do they have to give the company if they don't want bridge medical?

 

[SkeWest]

How much notice do they have to give the company if they don't want bridge medical?

My understanding is none. I recently flew with a guy that said his lump sum would go down 100K if he waited. He hasn't given the company notice but figures if they don't give him bridge medical, he can buy plenty with the 100K. His lump sum estimate will decrease next summer by only an additional 9K if he sticks around. Everyone's case is probably a bit different.

 

[jonjuan]

Not a single gummer is leaving early.

 

[pianoman]

The other piece of the puzzle is the availability of the lump-sum option. CAL mgmt. has indicated that if enough pilots retire at once, there may not be enough funding to maintain it, leaving only the annuity option for the later retirees.

Perhaps some pilots will choose not to risk the chance of the annuity disappearing in a future bankruptcy/restructuring/underfunding nightmare.

 

[DontFeedTheBear]

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.

Gonna have to disagree with you on this one. Although not a big influx, I think the company may get a surprise. Flew with a CA last week who said he is leaving, but didn't put in papers. Doesn't need the medical, as he is ex-military. He said f@@k the company for furloughing, let em be shorthanded. I'll give em a weeks notice at best... and I'm not the only one!

Yogi

 

[Kugelblitz]

The numbers of people who are going to put in for their retirement is independent of any financial considerations in my view. Much like the age 65 change, this isn't really about money. This is about the displaced and the dispossessed afraid of having to confront that one person they never want to meet. Themselves.

Continuing to fly allows them the illusion of indispensability, and distracts them from the disaster their personal lives have become, primarily as a result of decades of work at an airline that demands one sells oneself out for the sake of "just being lucky to have a job".

Those of you who can't wait for us internal critics to leave have my condolences, because with that sort of perspective how can you ever expect CAL to get better? You don't want to face the ugly truth that our "contract" is and simply think your going to negotiate some sort of sweetheart deal with the likes of Mr. Smisek. Good luck with that one.

 

[SFR]

Just released for the day! Officially, 0 (zero) hours for Sept. 2009!!! Yup, this place sucks!!! Gotta shut this place down!!!!


Where is that FUPM bracelet when you need it, gosh!!!!

 

[propdog]

Just released for the day! Officially, 0 (zero) hours for Sept. 2009!!! Yup, this place sucks!!! Gotta shut this place down!!!!


Where is that FUPM bracelet when you need it, gosh!!!!

I'm confused. There are so many complaints of short-staffing at CAL here in the forums and you flew zero hours in Sept.? So is the company over-staffed then?

 

[ERJdca]

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

Really? I work there and haven't flown with anyone who wishes they were anywhere else. Let me guess, a friend of a friend of a friend said......

 

[whymeworry?]

My prediction is 250 guys will bolt between now and next June. By then the A fund will be so depleted that mgmt will default on the lumpsum option. The remaining A-funders will be whining but it will have been their fault for ignoring the writing on the wall.

The incoming CEO said it himself last month, he will NOT put the company in jeopardy to save the lump sum. A standing ovation from the non-pilot crowd followed his commentary. It doesn't take a brain surgeon to figure out what is coming next.

If it were me, I'd be out of here by year's end. Anything after than will be like flipping a coin as to whether you're going to get any A-fund lump sum benefit.