Past Bankruptcy Pay Cuts?

[Showtime]

Anybody who went through past bankruptcies at other carriers care to share how much their take-home pay was cut?


-Showtime

 

[pilotgolfer]

Anybody who went through past bankruptcies at other carriers care to share how much their take-home pay was cut?


-Showtime

Its like a bad dream, so my memory might be a little foggy. ATA's bankruptcy was around 30% but that quickly went to 100% when things really started unravelling. At my current job...the bankrupcty lead to a 10% cut.


These numbers were related to pay rates. When you factor in having to downgrade/change seats...the percentages were much higher.

 

[135Drvr]

It will depend on how far down the food chain one falls. In my case I fell through everything in the fleet (really)- right down to the street (15 months furloughed). Over all I'd say your looking at a 40% pay cut and maybe a little more when you factor in increased health care costs and dumping more money into your 401K to try to have some kind of retirement fund.

Important safety tip: when they issue you the new stock, sell it immediately! Our stock has never been worth more than the initial issue price.

Best of luck to you all.

 

[Dan Roman]

My guess is AA won't take much if any pay cut but they will lose work rules. Reason? They already have concessionary pay in place and the courts will look at pay relative to others when that decision is laid out.

I've gone through C11 and the reality is the biggest pain comes from the rumors and uncertainty, but the bottom line is you get through it, you still fly airplanes when you go to work and the most important things in life (family, friends, what you do with your time off) are all still the same.

AA isn't going to disappear, before you know it, it will be a totally new airline, you are already shedding management personel that needed to go and you may very well be in a position of growth coming out of this.

The bottom line is, you are going to hear a lot of crap, and it will all turn out to have been untrue when you look back on it.

Good luck and hang in there!

 

[Hansoma]

100%...

 

[SWA Bubba]

My guess is AA won't take much if any pay cut but they will lose work rules. Reason? They already have concessionary pay in place and the courts will look at pay relative to others when that decision is laid out.

I've gone through C11 and the reality is the biggest pain comes from the rumors and uncertainty, but the bottom line is you get through it, you still fly airplanes when you go to work and the most important things in life (family, friends, what you do with your time off) are all still the same.

AA isn't going to disappear, before you know it, it will be a totally new airline, you are already shedding management personel that needed to go and you may very well be in a position of growth coming out of this.

The bottom line is, you are going to hear a lot of crap, and it will all turn out to have been untrue when you look back on it.

Good luck and hang in there!

C'mon,.... really Dan?

You're actually saying something that I agree with 100%?! What's this world coming to? More importantly, what the hell is FI coming to?

Bubba

 

[mesaserf]

Mesa: 0.00% Year to a year and a half from now? Maybe 100%

 

[formerdal]

Delta was 32% in an attempt to stave off Bankruptcy and then another 14% in BK. These numbers do not include loss of pension and a myriad of other contractural losses. The overall compensation reduction was well in excess of 50%...

 

[xjhawk]

My guess is AA won't take much if any pay cut but they will lose work rules. Reason? They already have concessionary pay in place and the courts will look at pay relative to others when that decision is laid out.

I've gone through C11 and the reality is the biggest pain comes from the rumors and uncertainty, but the bottom line is you get through it, you still fly airplanes when you go to work and the most important things in life (family, friends, what you do with your time off) are all still the same.

AA isn't going to disappear, before you know it, it will be a totally new airline, you are already shedding management personel that needed to go and you may very well be in a position of growth coming out of this.

The bottom line is, you are going to hear a lot of crap, and it will all turn out to have been untrue when you look back on it.

Good luck and hang in there!

Same experience here, its the rumors and uncertainty that made it horrible. But then again, we lost aircraft so I was displaced from my aircraft, then my base (from which I lived), and then was assured a furlough when I was in downgrade class. The furlough never happened as a lot of pilots jumped ship to another regional but AA is not a regional. All I can say is those judges can do whatever they want. Your sick time and your vacation is on the block too. Remember that. I wish you all well and hope that you are not merged or lose aircraft. Good luck

 

[Dan Roman]

C'mon,.... really Dan?

You're actually saying something that I agree with 100%?! What's this world coming to? More importantly, what the hell is FI coming to?

Bubba

LOL (sorry I'm told LOL is out of style but for some reason those little smily faces don't transfer over on my computer!)
Truth be told I'm guessing we all would get along fine in person. I would guess even OYS would be well mannered on a SWA jumpseat! Hell I could probably even handle Fubijacker on my jumpseat for 5 hours!