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Misery loves Comany: PCL to park 15 CRJs
- Thread starter Inconceivable
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dondk
Don't you wish
- Joined
- Nov 25, 2001
- Posts
- 887
Sadly... you will be the first to know.. they will come into Flight Safety or knock on your hotel room door for the books back.
In the "unlikely" event that does occur, try to get them to commit/promise to getting called back when the training mill starts back up.
Back in '01 when the furloughed, some peep's were given another chance to return, many though were not. It all depends on who asked and how you were progressing in training.
Once you pass your checkride, they still have to give you 30 days notice, before the checkride you are not protected.
In the "unlikely" event that does occur, try to get them to commit/promise to getting called back when the training mill starts back up.
Back in '01 when the furloughed, some peep's were given another chance to return, many though were not. It all depends on who asked and how you were progressing in training.
Once you pass your checkride, they still have to give you 30 days notice, before the checkride you are not protected.
dondk
Don't you wish
- Joined
- Nov 25, 2001
- Posts
- 887
the answer about the 15 CRJ's
Item 8.01 Other Events
Pinnacle Airlines Corp. ("Pinnacle") has received a request from its airline partner, Northwest Airlines, Inc. ("Northwest"), to remove 15 CRJ aircraft from service, effective October 31, 2005. Pinnacle expects its block hours and cycles in the fourth quarter of 2005 to be reduced by approximately 11% and 10%, respectively, compared to its original expected schedule operating a full complement of 139 CRJ aircraft. Pinnacle is making arrangements to place these aircraft in long-term storage.
Under the Airline Services Agreement between Pinnacle and Northwest (the "ASA"), Pinnacle receives variable revenue based on the number of block hours and cycles it produces, fixed revenue based on the number of aircraft in its fleet, and revenue to reimburse Pinnacle for certain expenses arranged by Northwest, such as aircraft rent and fuel. Under the ASA, Pinnacle expects the schedule reduction to impact only the variable components of its revenue; accordingly, Pinnacle expects fourth quarter 2005 revenue to be reduced by approximately 7% from the Company's previous expectations. Pinnacle has informed Northwest that it expects to continue receiving fixed based components of its revenue calculated on the basis of its full 139 aircraft fleet, in accordance with the terms of the ASA. However, should Northwest try to dispute the terms of the ASA and claim that it owes an even lower amount of revenue from the schedule reduction, the impact to Pinnacle's fourth quarter revenue could be substantially greater.
Management has already begun steps to reduce Pinnacle's costs to compensate for the 15 aircraft schedule reduction. Pinnacle will have excess staffing levels in all areas of its operations after the 15 aircraft are removed from service. Management expects to reduce staffing levels through a combination of regular attrition and voluntary employee leaves. It is possible that the Company will be forced to resort to involuntary furloughs, should the number of employees electing voluntary leaves be insufficient. Pinnacle is also reviewing other components of its cost structure to reduce its costs further.
As a result of the 15 aircraft schedule reduction, Pinnacle expects fourth quarter earnings to decline between 10% and 15% as compared to its previous projections based on operating a full complement of 139 aircraft. The earnings impact could be materially greater based upon the final outcome of discussions with Northwest regarding Pinnacle's revenue to be earned under the ASA, and based upon the Company's ability to eliminate costs associated with the reduced operations.
On September 15, 2005, First Tennessee Bank advanced Pinnacle $17 million under the Company's revolving credit facility. Based on the informal discussions that Pinnacle has had with Northwest, Pinnacle expects to receive pro-rated payments on September 30, 2005 and October 17, 2005 from Northwest for regional airline services performed subsequent to September 14, 2005. If Northwest makes the pro-rated payments as expected, Pinnacle believes its liquidity is adequate.
Item 8.01 Other Events
Pinnacle Airlines Corp. ("Pinnacle") has received a request from its airline partner, Northwest Airlines, Inc. ("Northwest"), to remove 15 CRJ aircraft from service, effective October 31, 2005. Pinnacle expects its block hours and cycles in the fourth quarter of 2005 to be reduced by approximately 11% and 10%, respectively, compared to its original expected schedule operating a full complement of 139 CRJ aircraft. Pinnacle is making arrangements to place these aircraft in long-term storage.
Under the Airline Services Agreement between Pinnacle and Northwest (the "ASA"), Pinnacle receives variable revenue based on the number of block hours and cycles it produces, fixed revenue based on the number of aircraft in its fleet, and revenue to reimburse Pinnacle for certain expenses arranged by Northwest, such as aircraft rent and fuel. Under the ASA, Pinnacle expects the schedule reduction to impact only the variable components of its revenue; accordingly, Pinnacle expects fourth quarter 2005 revenue to be reduced by approximately 7% from the Company's previous expectations. Pinnacle has informed Northwest that it expects to continue receiving fixed based components of its revenue calculated on the basis of its full 139 aircraft fleet, in accordance with the terms of the ASA. However, should Northwest try to dispute the terms of the ASA and claim that it owes an even lower amount of revenue from the schedule reduction, the impact to Pinnacle's fourth quarter revenue could be substantially greater.
Management has already begun steps to reduce Pinnacle's costs to compensate for the 15 aircraft schedule reduction. Pinnacle will have excess staffing levels in all areas of its operations after the 15 aircraft are removed from service. Management expects to reduce staffing levels through a combination of regular attrition and voluntary employee leaves. It is possible that the Company will be forced to resort to involuntary furloughs, should the number of employees electing voluntary leaves be insufficient. Pinnacle is also reviewing other components of its cost structure to reduce its costs further.
As a result of the 15 aircraft schedule reduction, Pinnacle expects fourth quarter earnings to decline between 10% and 15% as compared to its previous projections based on operating a full complement of 139 aircraft. The earnings impact could be materially greater based upon the final outcome of discussions with Northwest regarding Pinnacle's revenue to be earned under the ASA, and based upon the Company's ability to eliminate costs associated with the reduced operations.
On September 15, 2005, First Tennessee Bank advanced Pinnacle $17 million under the Company's revolving credit facility. Based on the informal discussions that Pinnacle has had with Northwest, Pinnacle expects to receive pro-rated payments on September 30, 2005 and October 17, 2005 from Northwest for regional airline services performed subsequent to September 14, 2005. If Northwest makes the pro-rated payments as expected, Pinnacle believes its liquidity is adequate.
Detroitpilot22
Well-known member
- Joined
- Jun 6, 2005
- Posts
- 301
Detroitpilot22
Well-known member
- Joined
- Jun 6, 2005
- Posts
- 301
Lear70 said:
If they think you guys are overstaffed, they need to sit down in the SOC for a week and see what actually goes on. I assume they see everything on a report every day which doesn't show what all of us actually go through to make the whole thing function as an "airline".
Then again, that probably wouldn't solve anything. They could care less and that's evident with the way things are now with this company. Maybe some of our corporate managers need to chop their pay down a few notches and see what life's like on 20 or 30K a year instead of 100 to 200K. There's a way we could save a few jobs.
Pinchanickel
That's right folks, straight from the Horses mouth!!! If they would keep all crew members we have now, we could do away with Junior Mans and have a few more happier campers walking around in ops vs. people who are furious from getting stepped on time and time again!! We would be staffed suitable vs. understaffed!!
The sad thing is that according to talk in Memphis 15 A/C is just the start my dear friends. After Oct. 31st, there will be more A/C that need "Long Term Storage." Mark these words.......... This is all in a plan to have long term growth at 9E, however things are gonna get worse before they get better. People speak of 70 and 90 seaters??? N.W.A. Mainline's union has already declined the offer to fly them. Mainline guys will not touch these Aircraft. So who will???? Whoever it is, it will stunt the growth of your career and dream of one day flying for a Mainline company.....
That's right folks, straight from the Horses mouth!!! If they would keep all crew members we have now, we could do away with Junior Mans and have a few more happier campers walking around in ops vs. people who are furious from getting stepped on time and time again!! We would be staffed suitable vs. understaffed!!
The sad thing is that according to talk in Memphis 15 A/C is just the start my dear friends. After Oct. 31st, there will be more A/C that need "Long Term Storage." Mark these words.......... This is all in a plan to have long term growth at 9E, however things are gonna get worse before they get better. People speak of 70 and 90 seaters??? N.W.A. Mainline's union has already declined the offer to fly them. Mainline guys will not touch these Aircraft. So who will???? Whoever it is, it will stunt the growth of your career and dream of one day flying for a Mainline company.....
Flyingdutchman
Well-known member
- Joined
- Jul 29, 2002
- Posts
- 1,571
Daddy's dollar
I don't feel sorry for anybody that is that age and get's furloughed. Anyone who got to an airline job at that age is obviously there on Daddy's dollar. I don't have any empathy for them whatsoever. Cause ya'll know they'll just be milking their trust fund or daddy's bank account while they're collecting unemployment!
I don't feel sorry for anybody that is that age and get's furloughed. Anyone who got to an airline job at that age is obviously there on Daddy's dollar. I don't have any empathy for them whatsoever. Cause ya'll know they'll just be milking their trust fund or daddy's bank account while they're collecting unemployment!
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