CoopDog:
Actually, I will go out on a limb and say that most fencesitters or vote changers will eventually vote "no." Since the basics of the offer were first revealed on June 18, the actual contract language (as composed by SWA's lawyers) was finally finished and made available to SWA pilots. There were quite a few disconnects between reality and what we thought the offer contained. Also, ATA signed a contract which surpasses this extension offer in many areas. End-game pay is even comparable.
During the last few weeks, more negative aspects associated with options, profitability-based raises, etc., have surfaced and been realized by a growing number of SWA pilots. So, the voting differential is tightening (IMO). Will it be enough to reject the extension and open up full contract negotiations in September 2003 (one year prior to the current amendment date)? I don't know.
Here's the latest newsletter to the pilots from management.
"INDUSTRY NEWS
US Airways has filed for Chapter 11 bankruptcy protection. It is going to give 110 planes back to the companies from which they were purchased. Employees face layoffs and wage concessions.
In the first half of 2002, United Airlines (UAL) lost an average of $4,700,000 per day. Many analysts predict it will also file under Chapter 11 bankruptcy if not given $1.8 billion in government loan guarantees.
In the first half of 2002, American Airlines (AMR) lost an average of $5,950,000 per day. It announced that it was retiring 83 aging aircraft, deferring deliveries of 35 new ones due this year, and canceling as many of its other orders as it can. It is also cutting 7,000 jobs by March 2003, with 40% of those being from the Pilot and Flight Attendant ranks.
In the first half of 2002, Delta Airlines (DAL) lost an average of $3,200,000 per day.
In the first half of 2002, Southwest Airlines averaged a PROFIT of $700,000 per day.
While Southwest faces an uncertain and bumpy road ahead, we can all be thankful for a sound business plan and cost control measures that insure our job security. In the coming days, as you make decisions about issues concerning Southwest and yourself, take a moment to reflect on the current state of the airline industry. Reflect on why we are in this fortuitous position now and how we avoid joining the ranks of unprofitable airlines in the days to come. Consider the future value of your Profit Sharing Contributions, your 401K, and most importantly, your job security. The key is long term thinking - nothing worthwhile happens overnight."
Actually, I will go out on a limb and say that most fencesitters or vote changers will eventually vote "no." Since the basics of the offer were first revealed on June 18, the actual contract language (as composed by SWA's lawyers) was finally finished and made available to SWA pilots. There were quite a few disconnects between reality and what we thought the offer contained. Also, ATA signed a contract which surpasses this extension offer in many areas. End-game pay is even comparable.
During the last few weeks, more negative aspects associated with options, profitability-based raises, etc., have surfaced and been realized by a growing number of SWA pilots. So, the voting differential is tightening (IMO). Will it be enough to reject the extension and open up full contract negotiations in September 2003 (one year prior to the current amendment date)? I don't know.
Here's the latest newsletter to the pilots from management.
"INDUSTRY NEWS
US Airways has filed for Chapter 11 bankruptcy protection. It is going to give 110 planes back to the companies from which they were purchased. Employees face layoffs and wage concessions.
In the first half of 2002, United Airlines (UAL) lost an average of $4,700,000 per day. Many analysts predict it will also file under Chapter 11 bankruptcy if not given $1.8 billion in government loan guarantees.
In the first half of 2002, American Airlines (AMR) lost an average of $5,950,000 per day. It announced that it was retiring 83 aging aircraft, deferring deliveries of 35 new ones due this year, and canceling as many of its other orders as it can. It is also cutting 7,000 jobs by March 2003, with 40% of those being from the Pilot and Flight Attendant ranks.
In the first half of 2002, Delta Airlines (DAL) lost an average of $3,200,000 per day.
In the first half of 2002, Southwest Airlines averaged a PROFIT of $700,000 per day.
While Southwest faces an uncertain and bumpy road ahead, we can all be thankful for a sound business plan and cost control measures that insure our job security. In the coming days, as you make decisions about issues concerning Southwest and yourself, take a moment to reflect on the current state of the airline industry. Reflect on why we are in this fortuitous position now and how we avoid joining the ranks of unprofitable airlines in the days to come. Consider the future value of your Profit Sharing Contributions, your 401K, and most importantly, your job security. The key is long term thinking - nothing worthwhile happens overnight."