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Sounds like Continental needs to be the successor to get around this?
The scary thing about SFR is that he is actually a CAL pilot. I always assumed he was some regional guy acting like an idiot to make CAL look bad. Unfortunately he actually is an idiot who is flying for CAL.
I don't believe there is an exception for any successor to this obligation. Therefore CAL buying UAL would still obligate the new CAL to pay PBGC.
Let's be realistic: arbitration for integration, loss of scope, and many, many furloughs. You RJ "professionals" out there, you're at the pinnacle, how does it feel?