What up at Republic/Frontier???

[airlinepilot]

Heard management wanted them to take a 20% cut in pay and in turn would give them 51% of the company in stock? Is this true? What's going on??

 

[On Your Six]

Heard management wanted them to take a 20% cut in pay and in turn would give them 51% of the company in stock? Is this true? What's going on??

Huffingtonpost.com had a story on it. It was also on Airliners.net.



OYS

 

[GuppyWN]

Not 51%. More like "equity" in the company in return for frozen wages and no 401k contribution.

F9 will be sold off as soon as Beford can find a buyer.

Sucks. I know it's woulda coulda shoulda but they should have been SWAPA pilots.

Gup

 

[PBRstreetgang]

Ask the UAL guys how the ESOP worked out for them......
PBR

 

[StaySeated]

Frontier will not be sold off entirely.
Wages are not frozen.
The 401k match is not going away.

Bedford wants the branded operation, and he will not relinquish the airline after this restructuring effort is complete unless he is the CEO of the new company. Bedford doesn't want a "buyer", he wants an investor to help carry this for a short period of time.

FAPA's equity is not an ESOP plan. If it doesn't work we will not lose anything more than we would have without the conversion. If it does work it will be a model that other labor groups will use if they find themselves in a simliar position.

I have to be honest, the future of Frontier and Frontier pilots is actually brighter today than it has been for a long time. The ramifications of the restructuring plan are enormous. There may be some light at the end of the tunnel.

 

[blott]

It's possible that light is a train heading right for ya, I do hope it works for you guys though.

 

[Redtailer]

20% pay cut? Are they serious? That places F9 rates behind US on the same equipment and that's a bankruptcy contract from many years ago. You couldn't do any worse in bankruptcy.

If Bedford is having issues running the company at the current rates then that is squarely a management problem. Don't lower this bar, we saw how well it has worked for US, UA, AA, NW, DL and they ALL have better pay rates than what Bedford is proposing. Some even have better rates before the pay cut.

The 401k match is already pitiful to begin with so why would he need more cuts?

Just remember that Bedford can't lie to wall street because it is a crime and he personally can go to jail, but that doesn't apply to lying to the employees..

 

[StaySeated]

It's possible that light is a train heading right for ya, I do hope it works for you guys though.

Anything is possible in aviation.

Airbus, GECAS, RJET, and FAPA all share the same interest.

This restructuring isn't about survival, it is about taking this operation to the next step. It might not work, but I like our chances considering the players that are involved.

 

[scoreboardII]

So, what is the next step? The operation is not working as advertised.

 

[hockeypilot44]

Frontier will not be sold off entirely.
Wages are not frozen.
The 401k match is not going away.

Bedford wants the branded operation, and he will not relinquish the airline after this restructuring effort is complete unless he is the CEO of the new company. Bedford doesn't want a "buyer", he wants an investor to help carry this for a short period of time.

FAPA's equity is not an ESOP plan. If it doesn't work we will not lose anything more than we would have without the conversion. If it does work it will be a model that other labor groups will use if they find themselves in a simliar position.

I have to be honest, the future of Frontier and Frontier pilots is actually brighter today than it has been for a long time. The ramifications of the restructuring plan are enormous. There may be some light at the end of the tunnel.

Enjoy your future of working for less and less money every quarter until you're out of a job. Anyone that doesn't work at Frontier can see that you guys are being played. You are jaded by the fact that you don't want to lose your job.