sORRY NO TA!!! And don't look for one anytime soon.
Company Update for August 1, 2003
Good Afternoon. We have been in marathon labor negotiations with our pilots since Tuesday morning. The talks were difficult yet productive. In many of the remaining open sections of the Agreement the differences between the two sides has narrowed significantly. However, we were not able to reach closure on these sections due to our remaining economic differences. Let me reiterate that I feel both sides have bargained in good faith, but at this time the parties’ ability to reach mutually acceptable financial terms was not quite there.
The largest problem we face, and perhaps one that we may not be able to overcome, is the fact that the company can not completely match the economic terms of the failed TA. As was demonstrated during the course of this very long bargaining session, we can get very close on many sections, but we can not get all the way there in the total economic package. For their part, the pilot negotiating team naturally wants the best deal possible, but at the very least would like to have an agreement that improves upon the wage rates of the failed TA. The reasoning is that an agreement that was not acceptable 2 years ago will still not be acceptable today. Having said that, they also acknowledge that 9-11 has dramatically altered the economic landscape of our industry and that Chautauqua, in turn, has been materially and negatively impacted by those events. The Company’s cash flow, debt service and capital obligations will simply not support the failed TA’s total compensation proposal. There is simply no easy answer for this conundrum. In the end, each pilot will be called to make their own individual assessment of the agreement. Hopefully that will happen in September.
The next step in the process is that the bargaining teams will meet again in DCA, August 25-28 with the federal mediator. I will plan to continue my role in the process until we reach an agreement.