RAH Representation Election - Write in "RPC"!

[FSIGRAD]

Nonsensical? I would meet your new overlords before making that conclusion. Quite possibly a warm fuzzy bunch of good old boys from the South. May I introduce the "Texas Pacific Group". If they are your 3rd party investors don't worry they have your best interests at heart.

 

[dougdrvr]

Nonsensical? I would meet your new overlords before making that conclusion. Quite possibly a warm fuzzy bunch of good old boys from the South. May I introduce the "Texas Pacific Group". If they are your 3rd party investors don't worry they have your best interests at heart.

And don't forget to add a dash of Seabury.

 

[blott]

"Texas Pacific Group" From Wikipedia.

On August 12, 2007 Agreed to purchase Midwest Air Group and its subsidiaries including Midwest Airlines ending the hostile takeover attempt by AirTran Airways. Northwest Airlines also invested in the transaction alongside TPG as a passive equity co-investor. On August 14, 2007 Increased its offer to purchase Midwest after a late attempt by Airtran to increase its bid for Midwest. The purchase price was $452 million. Midwest lost money during TPG's ownership having to accept a loan from Republic Airways Holdings to avoid bankruptcy. Republic took over Midwest's fleet. Eventually TPG sold the company to Republic for $31 million.[41]

And the plot thickens...

 

[FSIGRAD]

Reminds me of that scene from "Goodfellas" where the mob boss is buying into that guys restaurant....

What's he saying Henry? He wants me to take a piece of the joint?
What do I know about running an airline?

In reality TPG knows everything about running an airline. Unfortunately their playbook doesn't include reinvesting profits, funding pensions, buying new NEO's, or compensating employees fairly. It's more along the lines of uploading cash, squeezing employees, and leveraging every nut and bolt they can. Once the money is gone, credit lines dried up, end game is liquidation/fire sale.

 

[stratus72]

Quoting this, because you are either Bryan Bedford himself, or the biggest horse's anus in the history of FI.

Or both.

If and when you hear all the details of our LOA, and believe me there are plenty not yet public, we'll see what you think then. We are in DEEP trouble if we don't act and get something going. I was against any concessions at first...been through this at a previous airline..and voted against it every time! However, unlike you, I have become privy to the details. I'm not one to believe managements scare tactics. However, based on what I've seen, I'd rather take my chances than deal with the otherwise inevitable. If you still feel the "same way" if/when you actually read our deal, then I'd have to say right back at you with the insult. Are you a F9 pilot? If not, what are you so wound up about? What do you care if we make a stupid decision and go out of business anyway? I have no idea if you're RAH; nonetheless, so many RAH pilots said very little during and after the SLI...other than we need to move forward. Now that all this is slipping away from them, so many are slinging insults, talking about our LOA mistakes before anything was made public, etc. Sounds clear to me that many are angry they're losing out on the "lottery" they thought they won and are a little afraid that some might even lose their 190's. Regardless, I'm more than willing to work with them if that's our future. If we're not separate, then I hope we're RPC!

 

[aviatrix767]

If and when you hear all the details of our LOA, and believe me there are plenty not yet public, we'll see what you think then. We are in DEEP trouble if we don't act and get something going. I was against any concessions at first...been through this at a previous airline..and voted against it every time! However, unlike you, I have become privy to the details. I'm not one to believe managements scare tactics. However, based on what I've seen, I'd rather take my chances than deal with the otherwise inevitable. If you still feel the "same way" if/when you actually read our deal, then I'd have to say right back at you with the insult. Are you a F9 pilot? If not, what are you so wound up about? What do you care if we make a stupid decision and go out of business anyway? I have no idea if you're RAH; nonetheless, so many RAH pilots said very little during and after the SLI...other than we need to move forward. Now that all this is slipping away from them, so many are slinging insults, talking about our LOA mistakes before anything was made public, etc. Sounds clear to me that many are angry they're losing out on the "lottery" they thought they won and are a little afraid that some might even lose their 190's. Regardless, I'm more than willing to work with them if that's our future. If we're not separate, then I hope we're RPC!

Form 8-K for REPUBLIC AIRWAYS HOLDINGS INC

10-Jun-2011

Other Events


Item 8.01 Other Events.
On its first quarter 2011 earnings call, Republic Airways Holdings Inc. (the "Company") announced a program to restructure the Company's subsidiary, Frontier Airlines, Inc. ("Frontier"), by making changes to its network, fleet allocation and operating costs to improve overall business results by $100 million annually. A part of that effort included restructuring wages and benefits, including the Frontier pilots (the "Pilots") represented by the Frontier Airlines Pilot Association ("FAPA").

On June 10, 2011, Frontier reached a tentative agreement with FAPA pursuant to which FAPA agreed in principle to, among other things, (i) the postponement of certain pay increases, (ii) reduced Company contributions to the Pilots' 401(k) plan, (iii) reduced accruals for vacation days and sick days and (iv) an extension of the collective bargaining agreement by two years (collectively, the "Investment"). The agreement is subject to ratification by the Pilots and final board approval by the Company. The vote on ratification is expected to conclude by June 17, 2011.

In exchange for the Investment, FAPA will receive an equity stake in Frontier. The Company has agreed to certain other conditions which must be met during the term to continue the Investment by FAPA. Those conditions include aircraft growth at Frontier, a liquidity raise of at least $70 million by the Company through one or more debt issuances or other financings, material execution of Frontier's restructuring program by the end of 2011, and a good faith effort by the Company to attract equity investment(s) in Frontier that would reduce the Company's ownership of Frontier to a minority interest by December 31, 2014. In addition, the Company has agreed to establish a profit sharing program for Frontier employees.

 

[sniper228]

its like giving money to one homeless man on the street...just one at first then more and more come hearing of money...same thing goes for management...concessions now? more concessions later or never get them back...

Have fun and good luck to all!

 

[tscarecrow]

words

I apologize for calling you a horse's anus.

 

[jacksjj]

For the record, the fuel savings goal is 3%, and even that is a pipe dream.

From the mouth of the man who is in charge of the fuel savings initiative for all of RAH, and I quote: "This has been simple. Even if we take the anticipated numbers and assume they are wrong, divide them in half, divide them in half again, divide them in half again - we are still WAY over the fuel savings goal of 2%." -Mr. Morgenstern.


Look him up. See what he has to say.

Too late - you guys already fell for it.....

 

[FSIGRAD]

My favorite line "A good faith effort"