OK, just a few points:
In the TA, we have full recover to current book in 4 years (that is, where current book will BE in 4 years, not where current book is today: IOW: we regain all of the COL increases, also), if we get 36 aircraft. Now, if it less than 36 aircraft, we end up something like .125% under current book per aircraft under 36. It is NOT all or nothing. We recover at a percentage per additional aircraft. Yes, I was afraid they'd give us 35 and then no regains. No one trusts the SLT. That's why the TA does the best possible to account for dirty tricks.
Secondly, once we enter section 6, we get raises of 1.5% per year in negotiations, so that whatever we end up getting will be on top of the 1.5% per year as they drag it out.
Finally, the 14.2 million claim. This comes in to play during XJ's exit from bankruptcy. Yes, it would come into play in liquidation, too, but it will have a better payout in BK exiting. Ask the lawyers about it on the next phone conference. It is in MAIR's interest to at least try to pay out something of a percentage to the creditors in reorganization, and the pilot list ain't that long.
Yeah, I know, gimme more kool-aid, blah blah blah. However, our negotiators worked their butts off, and this could have been a lot worse than it is. It gives us a real shot at FULL recovery, or at least something close to it. Also, as a parting thought: As far as the BK laws go: Management won. The whole system is in their favor. Their is nothing we can do about that. Even if we STFD, the SLT all have solid gold, BK-and-liquidation-proof parachutes. It's practically the first thing they did after entering BK. To a certain degree, this TA severly limits what SLT won from us. And, just as every one was shouting about a few days ago, there are even a few modest enhancements, such as to the call in honest policy, furlough recalls (which, under the TA, are fantastic), profit sharing (which we gave nothing for, 'cause it's probably fairly worthless, but you never know), ongoing protections to our beleaguered health care plan.
Yes, we all fricken know that it was all a sham bankruptcy from day one. Wake up guys, we lost that battle, just like the Vikings always lose when it comes down to it. There is nothing anyone can do to go back into time to fix that. Sorry, sucks.
Yeah, DOH and DOH+1 really suck. They take us down toward the bottom, but it won't be any lower than the other bottom feeders (yes, for a year or two, we will also be bottom feeders: THAT SUCKS). Then we climb back up to solid industry average. And, also, yes the FO's get SCREWED by that bloody "blended rate" (although it does help us, big time, in the all-SAAB fleet). That sure as hell won't change in BK.
And remember: WE ARE IN FRIGGIN BANKRUPTCY! We LOST that battle. We can appeal 'til we're blue in the face, and all that will do is drag out endless 1113(c) filings. Under those conditions, even if the TA fails, our negotiators, lawyers, and MEC did a pretty respectable job.
I mean, really guys, 25% of the concessions come from the multi-class bids, which by the way, under the TA will retroactively pay protect the captains.
