RJET Q1 Loss 22.4 Million

[A320kid]

This was written by someone who came to the meeting with a dream, doesn't comprehend english well, didn't listen and left thinking they heard their dream confirmed somehow.

It didn't happen!

Another thought, he may just be trying to spread misinformation intentionally.

Not saying your wrong but he did say selling 51% is still "at the table," but it's not going to happen if we are loosing money.

 

[chqflyer]

Why would selling 51% be off the table because they're losing money? They're only losing money BECAUSE of Republics mingling.

 

[hockeypilot44]

Does anyone here really think Republic is going to go bankrupt? Does anyone here really think they're going to sell off Frontier? The answer to both of those questions is no.

 

[Bolo]

All hearsay! Next topic.

 

[chqflyer]

Does anyone here really think Republic is going to go bankrupt? Does anyone here really think they're going to sell off Frontier? The answer to both of those questions is no.

According to the airline CEO handbook, the threat of BK is now to be used to demand concessions from the employees. Next, the BK courts will be used to extract concessions which will result in a 22.4 million dollar bonus for the top executives. Sound familiar?

 

[hockeypilot44]

According to the airline CEO handbook, the threat of BK is now to be used to demand concessions from the employees. Next, the BK courts will be used to extract concessions which will result in a 22.4 million dollar bonus for the top executives. Sound familiar?

The Republic employees do not have pensions to lose. They are also some of the lowest paid employees in the business. A judge will not involuntarily impose concessions on some of the lowest paid pilots in the world.

 

[Secret Squirrel]

Even if their leader paints a pretty good picture that they are going to have to liquidate if concessions are not put in place? Remember, the bankruptcy judge is there for the Shareholders and creditors, not the employees.

 

[UnstableAviator]

Even if their leader paints a pretty good picture that they are going to have to liquidate if concessions are not put in place? Remember, the bankruptcy judge is there for the Shareholders and creditors, not the employees.

With the combination of terrible work pay rules, junior pilot group, and a low hourly rate, there's just no blood left to be squeezed from RAH labor. BB has the cheapest labor in the industry right now and he still can't make the business work....

 

[chqflyer]

The Republic employees do not have pensions to lose. They are also some of the lowest paid employees in the business. A judge will not involuntarily impose concessions on some of the lowest paid pilots in the world.

We are quite aware that we are the lowest paid rj pilots on the planet and we have no pensions to lose. But as SS mentioned, a BK judge is only concerned abou the shareholders and creditors, employees are nothing but trash that suck profits from the shareholders. There is plenty more pain that a judge would gladly inflict on an already beat down and demoralized employee group. Loss of 401k matching, health insurance, travel bennies in addition to wage reductions are just a few things that execs and a BK judge would simply wet themselves if they could slash them. A judge simply would not give a rats ass if employees worked for free as long as the stockholders, execs and creditors got theirs. It's a sad testament to corporate America.

 

[hockeypilot44]

We are quite aware that we are the lowest paid rj pilots on the planet and we have no pensions to lose. But as SS mentioned, a BK judge is only concerned abou the shareholders and creditors, employees are nothing but trash that suck profits from the shareholders. There is plenty more pain that a judge would gladly inflict on an already beat down and demoralized employee group. Loss of 401k matching, health insurance, travel bennies in addition to wage reductions are just a few things that execs and a BK judge would simply wet themselves if they could slash them. A judge simply would not give a rats ass if employees worked for free as long as the stockholders, execs and creditors got theirs. It's a sad testament to corporate America.

A judge does not just impose pay cuts. To do that, the company has to make a case proving that you are overpaid compared to your peers. You are not. The legacy pilots were all overpaid compared to Jetblue, Spirit, etc. The legacy pilots were also represented by ALPA. ALPA has the worst lawyers in the business. You guys have a lot of things going for you that will prevent concessions from being imposed on you. You are your own worst enemy. The only way you are taking concessions is if you volunteer them. I don't see that happening.

 

[StaySeated]

A judge does not just impose pay cuts. To do that, the company has to make a case proving that you are overpaid compared to your peers. You are not. The legacy pilots were all overpaid compared to Jetblue, Spirit, etc. The legacy pilots were also represented by ALPA. ALPA has the worst lawyers in the business. You guys have a lot of things going for you that will prevent concessions from being imposed on you. You are your own worst enemy. The only way you are taking concessions is if you volunteer them. I don't see that happening.

Every word of this post is innaccurate.

The judge does impose pay cuts.

First the company will provide the unsecured creditors committee with a business plan. That plan will always include concessions in some form.

If labor doesn't agree with the plan, the judge can impose what ever he wants to impose via an 1113(c) or (e) filing.

Your comments on ALPA attorneys is also way off. During bk, even the largest unions contract with third party bk expert attorneys.

The keys to mitigating the damage of bk is; 1. Ratify concessions that include me too provisions and snap backs. 2. Avoid 1113. 3. Try and get on the UCC, or at the very least monitize your concession as an unsecured claim. 4. Realize that there are usually three bites at the apple. The company will ask for concessions prior to bk claiming they are needed to avoid filing. They will ask again once they are in bk. They will ask again prior to exit claiming they can't exit without further cuts.

Bk really sucks.

Bk concessions have absolutely nothing to do with pay comparisons to your peers.

 

[Axel]

At this point, if the bk judge imposed concessions it would almost have to make the FO's pay to work at RAH.

As ticked off as this group is, an exit strategy is a moot point. You can't exit bk as an airline if all the pilots have told you to go to hell and quit.