RJET Q1 Loss 22.4 Million

[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.