Here is a brief and rough overview of what was negotiated.
4yr concessionary contract. Starting at 10% plus no matching 401K. Concessions return to book rates incrementally over the course of the 4 yr contract. Work rules and DC contribution left intact.
If this were to have been voted down the company was poised to take us to an 1113c and let the BK judge do what he may with our contract.
Totally BS. The company pulled the old "we need this to secure financing" play. Our give backs are in no way going to make or break F9. They just took(stole) money from us because they could.
Yes; their pilots now make about half what they used to, they lost their pension, and they labor under BK-style work rules.USAir went bankrupt two times in three years.