Comair headed for bankrupcy

[Ponchus pilot]

Our CEO here at XJT said today that Comair is headed for bankrupcy and that what they offered us on our contract is what Comair will have after concessions. is there any truth to this. This was said at the shareholders meeting today.

 

[DDpaysoff]

LOL. Your dad lets you stay up this late?

 

[nonstop]

rofl. The truely sad part about this profession, is there are those amongst us who ask this question not in jest.

Yes, airline pilots are paid less than greyhound bus drivers and yet it is still too much.

How bout this, we all work for free. Then they'll start telling us we weigh too much and need to remove some appendages otherwise we'll be under cut by amputees. I'm considering removing my left arm first to be competitive. Those of you without a brain will be way ahead of the game.

 

[LearLove]

Come on people, I mean I like to joke around but some of this stuff isn't even in the ball park.

 

[Ponchus pilot]

The truth is that this statment was made today in houston. Take it for what its worth.

 

[nonstop]

C'mon man. Statements are always being made. Evaluate them in context. What do you think he's going to say, "if I give you guys what you want, my 5th beach house may not get built to the specs I had hoped."

 

[GCD]

There was an article in the Cincinnati Enquirer about the company (Comair) was trying to get those over-paid Comair pilots to take pay concessions. If the pay concessions were not agreed to, the company may be put into a position to declare bankruptcy sometime in the future.

Simply put..."We are making money hand over fist, and we want to make more money, so we will play the media tactics."

One of my local Comair friends said his nieghbor yelled at him for being an over-paid asshole trying to close down Comair and wreck the local economy. I guess the media Kool-aid works.

I write columns for several papers, but the Enquirer will not accept a truthful column or comment from me about the Comair situation.

 

[bvt1151]

A Comair bankruptcy is totally impossible.

Firstly, Comair can't go bankrupt, they're not a company.

Secondly, even if Delta sold Comair, they would never sell a company headed for bankruptcy. It wouldn't sell.

Thirdly, according to Form 41, Comair brought in a net profit of over $100 million last year.

However, Delta is headed for bankruptcy. Perhaps thats what he meant.

 

[Heavy Set]

Gotta love the attention-getting titles to these posts... How about using a question mark!

 

[Vortilon]

Exactly....if Delta goes bankrupt then Comair is a selleable asset but that isn't even close to the same thing as Comair going bankrupt. Ream is just reaming you.

I always thought it interesting how they set the seat purchase agreement with a fixed profit and fixed cost....almost insured his ability to say "hey, we only get this much money from CAL....we can't give you a raise."

 

[Lear70]

Simply put..."We are making money hand over fist, and we want to make more money, so we will play the media tactics."

BINGO! And we have a winner folks... what does he get? Het gets to be educated enough to not drink the company kool-aid when they come asking for more concessions!

What does that mean for our friends over at XJT? Exactly what their MEC has been telling them for months... DO NOT DRINK THE COMPANY KOOL-AID! The media loves a good scare-tactic story, it sells newspapers. The airlines love a good scare-tactic story, it buys scare tactic votes on a concessionary contract, because "If we heard it on the news or read it in the paper, it must be true".

One of my local Comair friends said his nieghbor yelled at him for being an over-paid asshole trying to close down Comair and wreck the local economy. I guess the media Kool-aid works.

I've been watching contract negotiations at both Mesaba for the last few years and XJT for the last year, as I believe seeing how their mgmt plays their cards and how their MEC responds should help us shape our negotiating strategy at PCL - there's only so many ways to play poker and I believe most regional mgmt teams play out of the same or similar playbooks. It's been playing out the same at both places - scare tactics, smoke and mirrors, get the media involved, get the coworkers involved, all for the same goal: Win by fear and intimidation.

A scared group is easier to manipulate and will cling onto even the appearance of leadership into safe waters... Let your MEC tell you what the truth is!

Originally posted by Vortilon:
I always thought it interesting how they set the seat purchase agreement with a fixed profit and fixed cost....almost insured his ability to say "hey, we only get this much money from CAL....we can't give you a raise."

That was an interesting move, wasn't it? pretty sneaky and possibly quite effective. Time will tell...

 

[FlyComAirJets]

Ponchus, you are being played like a cheap fiddle. Your CEO is not too subtley trying to get you guys to lower your contract expectations. Rather than getting the Comair Plus contract you deserve, he is low-balling the pilots with a highly speculative(Delta/Comair is not bankrupt -- heck, Delta pilots haven't even taken paycuts) concessionary piece of garbage that will saddle you guys down for years as the industry recovers.

Don't buy it, you guys are too smart for that.

 

[DDpaysoff]

What does this mean to the comair shareholders. Oh, wait, there aren't any. That is the dumbest thing I have heard from a sharholders meeting in............................about two weeks. You guys should make comair look like mesa with the leverage you have, and still be very profitable!

 

[sleepy]

Comair in Ch 11, but not ASA? It just doesn't make any sense.

Go read the thread about our President's admission that they figured pilot and FA pay increases into our "winning bid" for more DCI flying. They were asking Comair and ASA to give concessions to get the "growth", but at ASA they had already planned on having to pay us more. We still go the growth (well, I'll believe it when I see it).

Don't ever trust any airline management! They all lie, cheat and steal.

 

[jarhead]

This thread needs to die. Comair is not a publically held company. No stock exists, and there are no stock holders. It is a wholly owned susidiary of a publically held company; Delta Airlines. Delta can file for chapter 11 at some point in time; the subsidiary(s) cannot file. They have no assets. Delta owns all the assets.

While Delta could sell the assets they own, (aircraft, gates, routes, regional airlines, etc., a wholly owned asset cannot file for bankruptcy any more than a Boeing 737 can file for bankruptcy.

Please let this thread die. Its concept is beyond stupid.