Pinnacle?

[your_dreamguy]

Has anyone heard of this regional for Northwest. I've tried to do a web search for them but haven't had any luck. I need to know:

mins, mamagement, location, bases

most importantly, does anyone have contact info. especially for HR?

Any help is gratly appreciated.

 

[PCL_128]

Right now, we are hiring mostly NWA furloughees and an occasional GIA pilot. They are hiring a few guys off the street though. To be competitive you really need to have turbine time and preferrably 121 experience.

All the Saabs will be gone on the 10th of December and we will be an all RJ operator. The most senior base is MEM, then MSP, and lastly DTW. Upgrade is probably around 1.5 years for new hires that have the 3000 TT req'd for jet captain. Hope that helps.

 

[dondk]

Pinnacle

If you do some searching on this board under Pinnacle or Express I you will find a wealth of info...

In short though.... 1500/300 are the hard times. To my knowledge we have not taken much below that. GIA, yes there is a "flow-through" type agreement. Mgmt knows more about this than the pilot group so I cannot really speak much about it. I do believe we have taken about 40 or so from GIA.

NWA mainline furloughee's... Yes, we have interviewd, I have heard there are some with class dates but not until early next year. A LOA has been signed to give them pref treatment.

From the street... well, as with ALL regionals, there is a plethora of people on the street, and like the rest of the industry they are being picky. We are interviewing I believe twice a week and have been doing so for a few months now.

Since Early this year, we have added close to 200 to the senority list.

In a few days we will be all jet in all bases. FO and CA senority WILL be MEM, MSP, DTW from senior to junior.

None of us (pilot group) really have any idea of what they are doing (hiring). We have walked in resume's, given LOR's and still those have not been called or hired. The classes from what I understand run from the minimum's (excluding GIA) to 4000 range with CFI's, 135 and furloughed 121. Your guess is as good as mine!

 

[DoinTime]

Do a search on the Regional Airline forum aswell.

 

[festus]

Merikeyegro-

Do you have more information on NWA spinning off Pinnacle?

Thanks

 

[Anaconda]

just do a search for ALL the forums and you will find what you want...should have started there to begin with

 

[Longhorn]

http://10kwizard.hoovers.com/contents.php?ipage=1896861&repo=tenk&eRid=&back=1&type=

This is the link for the latest SEC filing. It has a ton of information on the company, aircraft and what NWA plans to do with us. If there are any other questions please ask away, we will do our best to answer them........

 

[DoinTime]

What it looks like is that Pinnacle is going to be sold to the IAM, AMFA, and Teamsters pension funds. I'm not sure what this is going to effect at Pinnacle but it can't be good considering that our CFO, who has not made a public statement in over three years, addressed the employee group on this very issue.

Posted on Thu, Nov. 07, 2002
NWA shuffles pension funding
BY MARTIN J. MOYLAN
Pioneer Press
www.twincities.com

Northwest Airlines is asking federal regulators for more time to make up what's now a more than $900 million gap between the airline's pension fund assets and obligations. And it's seeking permission to use the stock of a subsidiary, Pinnacle Airlines, to fund retirement plan contributions in 2003 and 2004.

To conserve its $2.4 billion in cash as it struggles to get back in the black, Northwest says it needs the option of making pension plan contributions with Pinnacle stock. It's also asking the Internal Revenue Service for permission to spread its 2003 plan year contributions over five years, from 2004 to 2008, instead of the usual 18 months.

"We prefer to use our cash for the ongoing operations of Northwest during this difficult period," said Northwest spokesman Bill Mellon. "Everything we've done since March '01 has been to use financial resources wisely. And this is another step in conserving cash."

Financially, Northwest is doing better than most of its industry peers, as airlines struggle with a sour economy, declining business travel and after-shocks of the September 2001 terrorist attacks. Still, the Eagan-based airline has lost $310 million so far this year, on top of last year's $423 million loss.

Depending on the performance of funds already invested, Northwest's 2003 pension contributions could top $400 million. It also has $223 million in mandatory 2002 contributions yet to be paid. Until recently, the airline's pension plans were fully or over-funded, said Mellon. But the stock market's plunge, rising pension obligations and declining rates of return on Treasury bills and other investments have turned things upside down. The retirement plan that covers members of the International Association of Machinists, Aircraft Mechanics Fraternal Association and Teamsters had assets of $1.3 billion and obligations of $2.2 billion as of this past January. That's according to accounting measures set forth by the U.S. Treasury Department. The plan covering Northwest management had assets of $349 million and obligations of $410 million.

The pilots' pension plan, which was 89 percent funded as of January, doesn't figure in the planned actions announced Wednesday, Northwest said. It's unclear what Pinnacle stock would be worth. NWA plans to spin off the company in an as-yet-unscheduled public stock offering. Memphis-based Pinnacle flies passengers from smaller cities to Northwest's three hub airports, and depends on NWA for all its flight assignments and revenue.

In registration statements filed early this year with the Securities and Exchange Commission, Northwest said the Pinnacle offering could net it as much as $400 million. That probably would be a tad optimistic now. To reflect the shift in pension plans' assets and obligations, Northwest expects to record a fourth-quarter non-cash charge that could top $700 million. The amount depends on plan asset returns and discount rates. Northwest says the charge will not affect the company's current earnings or the financial covenants in its credit agreements.

Mollie Reiley, trustee of Teamsters Local 2000, which represents some 11,000 NWA and Sun Country flight attendants, said she'd prefer cash contributions to her members' retirement plan but understood the airline's reasoning. "The actions are intended to keep Northwest in a strong position," she said. "They will not have an impact on anyone who's retired or retiring or any of the people vesting benefits now."

 

[homebrew]

Do they require a senority number resignation?

 

[Cadillac]

What is GIA? A college/internship program?

1500/300 minimums. Ouch, but apparently the standard most jet regionals are bumping up to. And it seems that most want 135/121 time to be competitive. My quesition is, do I continue flight instructing and hope to go directly to one of these great jet regionals during what looks like a fantastic hiring year of 2003. or do I go get some 135/turboprop 121 time (usually with a 6mo-1yr commitment) and possibly miss out on the next year's hiring?

 

[dondk]

Cadillac

GIA... Gulfstream International Airlines... they own/run Gulfstream Academy.

If you want more info, just search this board you will finds ton's of info.


Now to the hardxer question... This is just MY opinion...

I would look to one of the prop regionals, after 6 months to a year start sending resume's to the jet regional of choice(s).

Most of the jet regionals are looking for people with prior 121 time. One of the reasons is.. the washout rate from people without 121 time is higher than those with 121 time. 135 time is good, as long as it is plentiful and more than VFR all the time.

Going to a prop regional will get you that turbine time, the 121 training, and build your time quickly. A few of the 121 props still have upgrades that are less than 18 months.

A few jet regionals are hiring CFI's, but with a few regionals now furloughing or anticipating to furlough the interviews and offers are going to stay competitive.

Again this is just my .02 cents.

 

[Flex]

Right now, we are hiring mostly NWA furloughees and an occasional GIA pilot. They are hiring a few guys off the street though. To be competitive you really need to have turbine time and preferrably 121 experience.

All the Saabs will be gone on the 10th of December and we will be an all RJ operator. The most senior base is MEM, then MSP, and lastly DTW. Upgrade is probably around 1.5 years for new hires that have the 3000 TT req'd for jet captain. Hope that helps.

I don't even know where to begin...except that I worked for Pinnacle 14 (if you include the 2+ months of nonpaid, nonperdiem, nonhousing, non-employed training). I had been at two 121 carriers prior to Pinnacle. Over half of my new hire class was ex 121 or 135 jet on demand, mostly freightdogs for both categories. Many of us were duped into believing fast upgrades, since we all had the time to upgrade (3500 total, 2000 multi, 1000 turbine) or were within few hundred hours of these requirments. After september 11 hit, and the saabs were shelved, things changed dramatically. True, I think there were some that did upgrade in 1.5 years, but forget about that now. I have left Pinnacle for happier rainbows, but still am in touch with friends there from my new hire class. They all have the time to upgrade, but have been unable to hold it in ANY base. I would not count on upgrading in under two years if you are being hired now. The thing about the NWA guys coming over sort of cracks me up. If you are a NW guy, and you get furloughed, you will make more on unemployment than you will make at Pinnalce as an FO sitting on reserve. Do the math. After taxes I was making about 1200 bucks a month on reserve as a first year FO. When I was furloughed from Airlink after 9-11, I was making 1320 a month (with one dependent). When I was recalled, my state tod me I didn't have to accept the job since it wasn't "suitable work" due to the fact I was making more on the dole. Of course, if you are a line holder, and flying more than guarantee, and getting some perdiem...the numbers will change...but not by much. The idea of a NW guy putting up with all the BS at this company...put it this way, if I had been told that there were NW guys coming over I would have stuck around just to see the expression on their faces in the crew room the first morning coming back from a continuous duty overnight in Erie or SAV, and then sitting in the crash pad all day (or couch) and doing the same thing for four days in a row...or sitting reserve. Yeah, right. A 23 year old kid, with 2000 hours trying to get into 121 for that UAL, er...oops, AA job, maybe, but a NW guy will probably go sell cars rather than put up with that. Unless, the union was incorrect when they told us they would be hired at the bottom of the list, and not as street captains. The quote another poster said about the website not changing in over a year, or whatever...that is very representative of the corporate culture at Northwest Airlink, Express One, Pinnacle, etc.. The latest stock thing with the pension fund...that's going to be interesting. I always told everyone the best thing Pinnacle was the airplane. Nice, new, CRJs. I'll stand off my soapbox...fire away...

 

[festus]

Thanks Longhorn and DoinTime,

Oh excuse me for asking a question Anaconda.