Question for General Lee????

[Vortilon]

Troy will really be the man when he can get his COPILOT to buy him a beer.

 

[cl65@350]

hi general...another ?? of course!

when the pilots are talking about retiring early, and taking a lump sum retirement...is that in lieu of 60% FAE per month pension...or is that like a B fund lump or what? what exactly are these guys leaving with???

i heard a rumor that Song could be sold along with the pilots if they do get a separate operating certificate...management says it is because of jetBlue that they need another certificate, but do you think that they are going to build it to 130 757s and then sell it and the pilots ........to Disney or somebody? if they sell Song and all the 757s it would be 20 years before the furloughs return!!!

thanks for your time

 

[General Lee]

CL65,

IF the pilots have more than 25 years of service, they can get full retirement---or 60% FAE, usually broken up with a lump sum. A friend of mine just retired with more than 30 years of service, and he recieved a $1.2 million lump su, plus $8,500 a month for the rest of his life. Guys who leave earlier than 25 years take a hit, but still get some sort of lump sum and monthly portion also. It depends on how many years you leave early.

I have read the reports about Song and the rumor about Disney and all of that. I can't confirm any of that, but I am sure that Dalpa will have something in the next contract supporting our guys. Disney has also lost their shirt on recent aircraft deals with United---I think they wrote off over $150 million on aircraft leases with UAL, and they may not want to get into this business. If Song does very well over time, I can't see Delta selling off a profitable unit, but they may want to pear it down so they can merge Delta with someone else (like CO). I do think Song will grow and they will want to atleast separate the groups like they did with Delta Express and Mainline---with separate pay catagories.....

Bye Bye--General Lee

 

[Heavy Set]

Wouldn't furloughed pilots, in that scenario, be alloted to Song as well?