CAL's TA & Future hirings

[TriJet]

Hello guys,

How much of an effect will the outcome of the votings on this TA have on future hirings?

Has management hinted on what it might do?

Thanks!

 

[Cardinal]

Well, since the thread on CAL's concessions has degenerated into a slugfest, I'll throw out my wild-a$$-guess, only slightly connected outsiders opinion. The growth dangled before the pilot group includes 8 757-300s, 6 737-800s and 10 787s. One can predeict that all of these might show up in the absence of concessions, or that none of these airframes will be acquired even with concessions. The outcome will presumably be somewhere between these two extremes. If ya call it 10 pilots per aircraft, that's 240-ish additioanl crewmembers required. That's in addition to the ongoing recall/pref-hire training that will run out of fresh meat in the 2nd quarter of this year. If there is a God, the rank-and-file will jettison this TA. That has the potential, albeit remote, to induce a knee-jerk, contractionary reaction from management. Then all bets are off. Long story short: Hiring likely.

 

[SuperFLUF]

My guess?

TA approved=definite hiring although staffing requirements will be reduced some by Pref Bid system. 27% of pilots retiring in next 5 yrs, 50% out in 10.

TA rejected=mgmt says they will go into cash conservation mode; park 737-500's & furlough. ALPA & investment banking advisors believe them (thus the current crappy TA). Furloughs may be mitigated some by mass early retirements of those who will lose a lot from CH11 PBGC pension takeover. The run on the lump sums will wipe out any chance of the remaining pilots keeping any part of the A fund.

As to what will happen with the TA? Do we gamble that we can get a better deal and call managments bluff? Or will we end up like the DAL pilots and get an even worse deal on the BK court steps?
I think this TA will pass, hopefully by only a narrow margin as a big YES vote would invite managment back for more in a few months.

 

[Tina Fey's Scar]

$5 bucks says those scabs fold and the TA passes by 90%

 

[BLUE BAYOU]

I'm sure this isn't going stunt CAL's growth plans...

Continental Airlines has told its employees, it was losing on average, USD$4 million a day during February, more than double its average loss of USD$1.5 million the month before.
Continental said Chairman and Chief Executive Officer Larry Kellner told employees in a recorded message of the mounting February losses, according to a regulatory filing with the US Securities and Exchange Commission (SEC) late on Friday.

The company also said in a filing it would make certain long-term medical benefits available to eligible retirees in conjunction with planned changes to its employee compensation and benefit plans.

The company said it expects to record a USD$25 million non-cash charge during the rest of 2005, associated with the retirement plan, according to the filing.

The SEC filing said the company expects required net cash outflows relating to its 2005 pension funding to decrease by about USD$50 million.

(Reuters)

 

[Captain Overs]

Raise your freaking fares!!

 

[Cardinal]

Continental Airlines has told its employees, it was losing on average, USD$4 million a day during February, more than double its average loss of USD$1.5 million the month before.

Saber Rattling.