Delta "likely" to scrap Pilot Pension Plan

[General Lee]

Delta 'most likely' will scrap pilot pension plan
During first day of arbitration hearing between Bankrupt airline and its pilots Delta's lawyer says pilot's pension plan 'likely' to be terminated.
March 13, 2006: 12:15 PM EST

WASHINGTON (Reuters) - Delta Air Lines Inc. said Monday that it was probable that its pilots' underfunded pension plan would be terminated.
"It looks more likely than not," said Jack Gallagher, a lawyer for the airline, commenting on the possibility the pension plan would be scuttled.

He was speaking on the first day of an arbitration hearing on the separate issue of whether Delta should be allowed to void the pilots' contract as it seeks to cut costs to emerge from bankruptcy.




The question is: Will we get CREDIT for it? United got a 15% match every month in their DC program. That would be nice. But, this again shows us that saving the pension is a "pipe dream" and we should focus more on stopping the pay cuts (with eventual snap backs---DL even offered a low 1.5% give back in 2009?) and SCOPE. NW didn't focus on scope because their old guys wanted a pension. We are not under that same ILLUSION. SCOPE is more important now.




Bye Bye--General Lee

 

[737 Pylt]

We knew this was coming....Now let's move on with it and get the scope protection that should be in there. Also wages need to come up!
737

 

[Dizel8]

One would hope, that scrapping of the pension will show up as a large give back from the pilots and that y'all will get some serious credit for it, ie no more wage concession as 737plt says.

 

[General Lee]

We knew this was coming....Now let's move on with it and get the scope protection that should be in there. Also wages need to come up!
737

Ummm yeah. And, there will be NO exit financing without an agreement with the pilots, so we should be able to negotiate something, allowing the company to save some money (ALPA said $200 million a year on pilot pensions alone) also. The CFO apparently talked a lot about a large 787 order AFTER we exit bankruptcy (can you say CARROT????), but I am also concerned about everything over 70 seats, and that should be our first priority. It is mine. No more pay cuts either, and pay coming back to us also eventually.


Bye Bye---General Lee

 

[General Lee]

One would hope, that scrapping of the pension will show up as a large give back from the pilots and that y'all will get some serious credit for it, ie no more wage concession as 737plt says.

You would think that(we all would). United settled their pay cuts before they dumped their pensions, although they did agree to give the 15% match to the remaining employees after the dump. It is good that we are getting this out in the open while we are still negotiating.(or attempting to)


Bye Bye--General Lee

 

[Green]

You would think that(we all would). United settled their pay cuts before they dumped their pensions, although they did agree to give the 15% match to the remaining employees after the dump. It is good that we are getting this out in the open while we are still negotiating.(or attempting to)


Bye Bye--General Lee

I could be wrong but I beleive that the UAL contribution is not a match but a guaranteeed company contribution. In other words if you don't contribute a cent of your own money to the plan, the company will still contribute 15% of your earnings into your 401k.

 

[$$$4nothin]

Delta's savings a year if they take your pension = 200 million
The amount Delta is losing per day = 6 million
The amount of days it will take Delta to blow your pensions = 33-34 days

OUCH.
Not priceless

Good luck

 

[CFIT]

Get a clue-

We knew this was coming....Now let's move on with it and get the scope protection that should be in there. Also wages need to come up!
737

ABSOLUTELY!

ROCK ON BROTHER!!

You have to get all of this fixed now! You need huge raises and should take back all the RJ flying (it's yours right? not the companies) and the min starting pay can't be less than 140hr. The furloughes get to tap the new hire FA classes and drive to training in new cars from the company.

The old cotract slogan was "United plus a Dollar", is the new one going to be "Southwest plus 2 bucks"?

You guys are truly brilliant.

Your airline isn't dead yet, youv'e managed to cut it off at the knees, now drive a stake thru it's heart.

Anyway all that talk of losing billions is just that, talk.

Get what is truly yours!

 

[Einstein]

We knew this was coming....Now let's move on with it and get the scope protection that should be in there. Also wages need to come up!
737

That's right AUNT BEA. Let em hear you.

 

[Rogue5]

The question is: Will we get CREDIT for it? United got a 15% match every month in their DC program. That would be nice. But, this again shows us that saving the pension is a "pipe dream" and we should focus more on stopping the pay cuts (with eventual snap backs---DL even offered a low 1.5% give back in 2009?) and SCOPE. NW didn't focus on scope because their old guys wanted a pension. We are not under that same ILLUSION. SCOPE is more important now.

I'm not too bright, but I sure am glad General Lea CAPITALIZES all the important points like Bill O'Reilly so I can follow along...