Pinnacle TA Passes....

[777forever]

Nice. So the junior people literally voted themselves out of a job. I would have thought it better to vote "No", forcing a liquidation and the re-distribution of assets. At least that way I could follow the airplanes to a job with rapid movement. The junior guys just fell on the sword to protect the senior pilots and will be out of work longer. Nice!

Here comes the DCI $hit storm........................

The next DCI rate reset comes in December 31, 2015 for Skywest Inc so we all have plenty of time to get the heck up outta here......Abandon Ship!

From the Skywest 8-K:


The Delta Connection Agreements also provide that, beginning with the fifth anniversary of the execution of the agreements (September 8, 2010), Delta has the right to require that certain contractual rates under those agreements shall not exceed the second lowest of all carriers within the Delta Connection program. During the fourth quarter of 2010, SkyWest Airlines and Atlantic Southeast reached an agreement with Delta on contractual rates satisfying the 2010 rate reset provision and the second-lowest rate provision and agreed to rates through December 31, 2015. Delta additionally waived its right to require that the contractual rates payable under the Delta Connection Agreements shall not exceed the second-lowest rates of all carriers within the Delta Connection program through December 31, 2015.

 

[ex j-41]

I assume you are being facetious.

Yes.


Surprised? No
Disappointed? Yes

Wonder how many pinnacle pilots are going to still wear Delta paraphernalia?

 

[MACH-TUCK]

Restructuring Agreement Ratified

With more than 86 percent of eligible Pinnacle pilots casting ballots, 85 percent voted in favor of ratifying the Restructuring Letter of Agreement.

In this vote you were asked to decide to do what was best for our pilot group as a whole, taking into account the dire circumstances in which we found ourselves.

choose to vote in favor of the TA means a significant cost to each of you, both in terms of quality of life and pay. Some of our pilots will see wage cuts alone that equal nearly 25%, and that is without taking into account displacements due to loss of equipment. This vote was the final piece of the company’s restructuring plan. Having moved past this vote, the work begins to improve our carrier, our operation, as well as our contract.

Management failures were responsible for Pinnacle’s current financial crisis, but it was only this sacrifice by you, the professional pilots of Pinnacle airlines, that could preserve a future for the airline and its employees. In that future, we will seek out new employment opportunities for those pilots who no longer see a viable career path at Pinnacle while we protect and shore up the restructured contract for those who remain.

The pilot-ratified contract will now be submitted to the Bankruptcy Court for the Southern District of New York for final approval tomorrow.

 

[jynxyjericho]

Way to go guys!
You voted overwhelmingly to lose your jobs and F your next one. Even AMR was closer than you sh!ts.

American Airlines pilots Friday approved a proposed contract with the Fort Worth-based carrier, which now has new labor deals approved by all nine of its unionized bargaining units.

The decision by Allied Pilots Association members boosts American’s efforts to settle its affairs and emerge from bankruptcy court in the first part of 2013.

The pilots on Aug. 8 had rejected a previous proposal, known as American’s “last, best and final offer,” by a 61%-39% margin. U.S. Bankruptcy Judge Sean Lane on Sept. 4 approved American’s request to throw out the pilots’ existing contract, a concessionary deal dating from 2003

American... couple billion in the bank.
Pinnacle... worth nothing. (thanks again Phil)

Congrads to the American pilots, and sorry to the rest of the internet crowd who are losing their minds this morning. This TA was a much better offering than the second 1113 ask, Pinnacle pilots educated themselves and reached a logical conclusion.

No one wants to vote for concessions, but bankruptcy is a part of life in the airlines, and pilots have to make choices based on the reality of their situation. We all get to pay our bills a little longer, keep our health insurance, and our compensation isn't below GoJets (due to soft pay, obviously the pay rates aren't spectacular) and time is on our side we hope.

Other regional airlines will have to deal with negotiating against our contract, some airlines can increase their compensation easily off our new concessionary contract, others will have to fight to maintain what they have.

I certainly wish we could have done better for you, but Pinnacle negotiated their JCBA bringing up the values of both the Colgan and Pinnacle pilots while making a few gains on the Mesaba one. Certainly, since the people complaining on here are all so much smarter and better than us, they should have no problem recreating our success on the JCBA. I just hope your CEO doesn't piss every dollar away and run the company into the ground while pulling the ripcord on his golden parachute.

 

[big shacks]

Good post

 

[TEXAN AVIATOR]

Pinnacle is now worse than Mesa. Mesa, you don't suck as much anymore.

 

[CaribPilot]

lol..

 

[Clutch]

You pcl guys are a disgrace

 

[Snaab]

American... couple billion in the bank.
Pinnacle... worth nothing. (thanks again Phil)

Congrads to the American pilots, and sorry to the rest of the internet crowd who are losing their minds this morning. This TA was a much better offering than the second 1113 ask, Pinnacle pilots educated themselves and reached a logical conclusion.

No one wants to vote for concessions, but bankruptcy is a part of life in the airlines, and pilots have to make choices based on the reality of their situation. We all get to pay our bills a little longer, keep our health insurance, and our compensation isn't below GoJets (due to soft pay, obviously the pay rates aren't spectacular) and time is on our side we hope.

Other regional airlines will have to deal with negotiating against our contract, some airlines can increase their compensation easily off our new concessionary contract, others will have to fight to maintain what they have.

I certainly wish we could have done better for you, but Pinnacle negotiated their JCBA bringing up the values of both the Colgan and Pinnacle pilots while making a few gains on the Mesaba one. Certainly, since the people complaining on here are all so much smarter and better than us, they should have no problem recreating our success on the JCBA. I just hope your CEO doesn't piss every dollar away and run the company into the ground while pulling the ripcord on his golden parachute.

+1. Well said, co-worker.

 

[RJLoser]

You pcl guys are a disgrace

good luck in your negotiations.

 

[Clutch]

good luck in your negotiations.

Good luck finding another job and making less money while doing it

 

[RJLoser]

Good luck finding another job and making less money while doing it

I moved up and on from pinnacle my friend. lot of good guys there. you are bringing a child's mentality to a grown up decision some had to make. again, good luck.

 

[Ops check good]

85%-15%?!?

LOLOLOLOLOLOLLLLL!!!

Jeeeezzzzz...Talk about spreading your butt cheeks and overwhelmingly welcoming the meat cannon.

By meat cannon you mean CRJ 900. Shinny new jets slide in easily.

 

[Flying Ninja]

I'm assuming Pinnacle pilots will have a hard time getting a jump seat or ride in the back from these other pilots who think they sold out?

 

[centralpilot]

I'm assuming Pinnacle pilots will have a hard time getting a jump seat or ride in the back from these other pilots who think they sold out?

They'd better not. I don't like the Pinnacle TA outcome but starting a jumpseat war over it is ludicrous.