Objection to Delta's DIP financing for Pinnacle

[i fly boxes]

Anyone else hear the rumors that colgan may be sold to another carrier very soon?

 

[A-10_JetMech]

Anyone else hear the rumors that colgan may be sold to another carrier very soon?

Who would want that mess?

 

[xjhawk]

I think if it was sold and it saved jobs, bases, pay and the pilots QOL then great. Not to mention how that would be for the company to save the money. But it raises some questions....

If someone were to buy the Q operation and make it profitable then why would that not have worked for the Management of Pinnacle? If this scenario is what happens then we know there is another influence cutting that part of the business out of the picture.

Where are these rumors coming from? Who would buy colgan in the state it is in now?

 

[suupah]

It wouldn't work for pinnacle because Delta won't allow it. I hope private investors buy Colgan and take pilots with the aircraft. It would practically be a turn key profitable business.

 

[Simon Says]

You lucked out. Ask your 2000-2001 DOH colleagues what they think of "seniority" when they are below 2006 DOH 9E and 2007 DOH 9L pilots.

Yes, I lucked out...this time. That sucks when people get stepped on this industry. I have taken my licks many, many, many times. Lets see, 2001, 02 (closing RHI) 02 (displaced to MEM) 02 (having to commute on reserve) 03 (downgraded and lost financing on a new home loan) 03 (lost my seat in the Avro) 04, 05, 06, 07...and the list goes on and freaking on.

Don't hold it against me that I came out even on the merger and jumped the fence early. Life is good for me primarally because I have a positive attitude and optimistic outlook.

Yes I support senority and Yes I think it sucks what happened to the middle of the pack on the senority...But did you hear me, or any XJ 900 CPT complain that we were the only group that did not get a raise in the new contract? The aurgument of "You have it better than me" is not an aurgument you should fight. I do not apologize that I have it better than you now nor would I ever apologize. But, I do sympathize for people that got "per se screwed" in the SLI.

 

[mesaba13]

If the Colgan operation is sold and they take pilots, which pilots do they take? IE what if a Colgan Pilot wants to stay in the Pinnacle operation how do they work that part out?

 

[mesaba13]

I answered my own question.

"to any transaction described in paragraph D.1., above, (a “successorship
transaction”) unless the successor agrees in writing,
as an irrevocable condition of the successorship transaction, to
assume and be bound by the Agreement, to recognize the Association
as the representative of the Pilots and to emloy, in accordance
with the provisions of the Agreement, those Pilots on the
Pilots’ System Seniority List who are employed by the relevant
Airline or Airlines at the time of the closing of the successorship
transaction."

Its sounds like as of now those pilots can come back to Pinnacle for up to three years later as vacancies come up. (Unless the 1113 process voids this part of the contract) I could see 9E pleading the case that this provision would cause too much training expense and that the affected pilots still have jobs at Colgan.

 

[ImbracableCrunk]

Quick summary of filing borrowed from elsewhere...

Delta forces Pinnacle into bankruptcy sooner by not paying them about $35 million that Delta owed them.

Wasn't it $35M that NWA missed paying to XJ last time they played this game?

 

[bri5150]

Wasn't it $35M that NWA missed paying to XJ last time they played this game?

Not sure if it matters, but at least they were in bankruptcy.

 

[WMUSIGPI]

I am pretty sure NWA "missed" a $19mil regular payment.