Frontier pay cuts?

[F/O]

My understanding is the union has agreed to pay cuts. Just wondering if they have told the pilots yet what they will be voting on.

 

[flaps30]

Ouch, how much? Guess you gotta make up for those $59 tickets and chip in for gas.

 

[climb2slow]

An LOA is going for a vote starting today, so to say something is agreed to would be premature. That being said it'll probably pass. Too many "save the company" koolaid drinkers here. It looks like 14.5% with kickbacks in september and no changes to work rules or premium pay. That's the nutshell.

 

[The Victors]

Kickbacks in September? After the busy summer season? Ya right.

 

[waterski]

What about the company match 401k

 

[Lear70]

Kickbacks in September? After the busy summer season? Ya right.

My thinking exactly... It won't be kickBACKS, it will be kick-OUTS, as in furloughs, along with half the rest of the industry about that time if fuel prices don't retreat under $100 (which they won't).

The new bankruptcy laws will require final financing and an exit date pretty close to then, so the rubber will meet the road one way or another.

Good luck...

 

[skystud25]

Major points are...
- 14.5% reduction for all except year 1 FO payrates from June 08-Sep 08 (4 month period).
- First Year FO payrates reduced 1%.
- No company 401K match for that period.

Not sure if above poster was implying that the money would eventually be given back, but I'm not sure how any of us could ever see that happening. FAPA's position is in support of the measure, and they believe that it will help secure DIB (debtor in possession) financing, as it will really do little to the bottom line.

The official name of the LOA is the "Interim Restructuring Relief Agreement."

Best wishes to all my friends at F9.

 

[Flash]

Is management taking pay cuts?

 

[Quimby]

paycuts don't save companies...

vote no.

 

[hockeypilot44]

paycuts don't save companies...

vote no.

Great post. If the company is going to make it, your paycuts will not be the reason. Vote no. You have a contract. Make them abide by it.

 

[Quimby]

Great post. If the company is going to make it, your paycuts will not be the reason. Vote no. You have a contract. Make them abide by it.

bingo.

the co's that are gone now that went through rounds of paycuts should be evidence enough.

 

[stillflyn]

This won't help in the long run. All companies should think of crew as a fixed cost.

 

[PCL_128]

Just say NO.

 

[ricj41]

It ain't that easy, just saying no. If we do vote no then the company can go to the judge and he can force it on us. He can also make it under terms he deems appropriate. With the majority of our employees non union and taking the cuts to think a judge wouldn't force it on us is ridiculous. That being said, I am not happy with it and haven't made up my mind.
It looks to be 10% with no 401k match. Our CEO and the executive team all took 20% cuts starting May 1st.

 

[PCL_128]

I'm betting that the company hasn't even prepared an 1113(c) filing yet. It will take them time to prepare and present it to the judge. It isn't as easy as just walking into court and asking for concessions. It would take months for the company to get forced concessions from the judge. That's months more of better pay while you get your ducks in a row. No need to willingly bend over.

 

[OK3]

At the very least make sure to put snapback language in any agreement you make. You should not have to "fight" to get back to where you are now after these tough times pass, and they will pass. Good luck guys.

 

[tzskipper]

It would take months for the company to get forced concessions from the judge

There is also an 1113e section of the BK code. Don't think that a company cannot get "emergency" relief from a Judge. The standard that the court requires is in favor of the company that is in distress.

To the F9 guys; hang in there.

Skipper

 

[PositiveRate]

Regardless of the paycuts, how does Frontier fly out of this one? Is there a standalone option or is it merger, buyout or lights out?

 

[Networ-King]

I'm betting that the company hasn't even prepared an 1113(c) filing yet. It will take them time to prepare and present it to the judge. It isn't as easy as just walking into court and asking for concessions. It would take months for the company to get forced concessions from the judge. That's months more of better pay while you get your ducks in a row. No need to willingly bend over.

I know a few buddies at Frontier and they are all great guys, but they all drink from the company koolaid fountain. I've tried to understand their way of thinking and I think the denial is so bad that one guy told me the CEO only filed BK because he was upset at the credit card company...... he said they really didn't even need to file for BK protection. Well... this was about the time my eye started twitching and I figured I was talking to a brick wall. My understanding is that the majority of the guys over there, pre furloughed pilot hiring, are the same way. Good luck over there guys.... just remember SKYBUS..... their pay was ********************e and they still went tits up......

 

[OnTheDole]

It ain't that easy, just saying no. If we do vote no then the company can go to the judge and he can force it on us. He can also make it under terms he deems appropriate.

They can also do that 30 sec. after you agree to the pay cut. If you think taking this paycut will keep the company off your backs looking for more give backs you're smoking crack.