Delta PERP out

[FBN0223]

Just flew with another soon-to-be retired B757 Captain SPN-NRT. God bless him. Quite a few Delta-S guys over in NRT these days. Good bunch of guys.

 

[SpauldingSmails]

Free beers for PERPS! Especially from a Compass guy!

 

[NuGuy]

That was mine too, and would have fallen out of my chair if 300 pulled the trigger.

The irony of the situation is that it's all the really cool guys...the ones you don't mind seeing stick around, taking the deal and splitting.

All the d-bags that no one can stand flying with are the ones that are sticking around for another 3 years.

Correlation? You decide....

Nu

 

[Speedtape]

ACL,

I see your point. However, I would be worried that the company would come back and say, "We tried to mitigate furloughs, but we didn't get the participation we needed in the form of the PRIP plan, so WARN letters will be going out next month."

Hopefully they would go to Round 2 if they didn't get the numbers they wanted. I think that the whole Compass backflow dilema is extremely cost negative for Delta and there would be more incentive for the company to get the highly senior out first.

Here's a question and maybe we will have to cross this bridge when the final numbers come out. At what point does the union have to start giving things up in the form of quid pro quo to mitigate furloughs? (LM stated in his Chairman's letter than no quid pro quo exists with the LOA in its current form) Does this happen when/if we don't get the numbers we need on the first round, or do we wait and see how badly the company needs to retire guys from the top?

This is right out of the playbook. It makes MGMT look good to the troops, by at least attempting to promote a PERP to mitigate furloughs. There will be no round 2 or sweetening of the pot. It follows the same pattern as when Grinstein went before the Congressional hearing trying to "save the pensions." It's all a drill, with a known outcome, however, the effort will help keep the Pilot group onboard. Furloughs are the next initiative.

There has been a honey moon dance going on throughout the merger process to appease employees, politicians, and the investment community through the transition. Once a single certificate is achieved, the clock will strike mid-night and the dance will be over. Survival mode is now the reality.

Part of the objective of the merger of these two companies was the ability to combine, to pare down, and to create a new entity that maximizes the efficiencies of the two companies, particularly in a down economy. The Merger and the ability to benefit from an extreme make-over gives the new Company a unique advantage in this economic environment. It should place the Company in a superior position for survival in the industry. In addition, when a turn around in the economy happens, at least another couple of years, the new Company will be well positioned to capitalize. Unfortunately, parking airplanes and crews are part of the interim process.

 

[lakemead1]

Wow! that was well written, but do you have anything to back all that up with?

 

[Diesel-9]

Does anyone remember during the last PERP if all the requests were granted? And if there are too many in one category, like the A-320, that not all will be honored. Think alot of A-320 Green Book guys might be going. They didn't have large excess payouts coming at Age 60. Hopefully many 757 guys go too, so I (ME ME ME ME ME) can move up. Afraid to see the good guys leaving.

 

[vprMatrix]

ATLANTA (AP) -- Union officials say 215 Delta Air Lines pilots have agreed to retire as part of a company incentive program designed to reduce the number of pilots to cut costs.

Pilots with at least 10 years of service as of the end of this year and whose age and years of service added together equal at least 55 were eligible to participate by Wednesday's deadline. Those who agreed to retire can revoke their decision if they do so by July 31. Of the more than 12,000 pilots at Delta, some 9,400 were eligible to participate.

The Atlanta-based company has not said how many pilots it hoped to cut.

Delta has cut capacity as the economy has weakened and demand for air travel has declined.

 

[Superpilot92]

Does anyone remember during the last PERP if all the requests were granted? And if there are too many in one category, like the A-320, that not all will be honored. Think alot of A-320 Green Book guys might be going. They didn't have large excess payouts coming at Age 60. Hopefully many 757 guys go too, so I (ME ME ME ME ME) can move up. Afraid to see the good guys leaving.

I dont think they will deny any. It was written into the PIRP that the company could hang on to people that they felt they needed to keep for X amount of time. (dont remember the time frame but it was a set of months) that gives them the ability to train as needed.

ATLANTA (AP) -- Union officials say 215 Delta Air Lines pilots have agreed to retire as part of a company incentive program designed to reduce the number of pilots to cut costs.

Pilots with at least 10 years of service as of the end of this year and whose age and years of service added together equal at least 55 were eligible to participate by Wednesday's deadline. Those who agreed to retire can revoke their decision if they do so by July 31. Of the more than 12,000 pilots at Delta, some 9,400 were eligible to participate.

The Atlanta-based company has not said how many pilots it hoped to cut.

Delta has cut capacity as the economy has weakened and demand for air travel has declined.

thats great news thanks

 

[Speedtape]

Wow! that was well written, but do you have anything to back all that up with?

Hang on! You will have all the facts that you need shortly.

 

[Superpilot92]

Hang on! You will have all the facts that you need shortly.

So did they give you a crystal ball when you started with ASA or did you purchase that on your own?