JJthejetplane
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Why Continental?
- Thread starter JJthejetplane
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pilotgolfer
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Freight Dog
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Dude, SWA has, always has and will have their niche of hauling around rednecks and cheap skates. AT has been second with that and JB is trying to be that with a lil' something extra.
Why CAL? Well..it's the only legacy hiring new hires, expanding in Euprope still, starting to retake some of the "regional" flying and mass retirements in the upcoming few years. Mixture for disaster? Who knows, I hope not though!
Why CAL? Well..it's the only legacy hiring new hires, expanding in Euprope still, starting to retake some of the "regional" flying and mass retirements in the upcoming few years. Mixture for disaster? Who knows, I hope not though!
CAL is a well run company with management that actually wants to run an airline.......
They are growing, they are on the cusp of profitability, and they are hiring.
What other options do you have? You send out the apps and you wait for a call. If you get the call and are lucky enough to get hired, you dance with that partner until you get furloughed, die, or retire.
Best of luck.
A350
They are growing, they are on the cusp of profitability, and they are hiring.
What other options do you have? You send out the apps and you wait for a call. If you get the call and are lucky enough to get hired, you dance with that partner until you get furloughed, die, or retire.
Best of luck.
A350
MemTrash
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Freight Dog said:Q. Why do you want to work for Continental?
A. Because it's the only legacy carrier hiring right now. I don't buy into the whole LCC bull, and hauling boxes just doesn't quite have the same ring to it.
You'll get 100/100 for honesty.
Freight Dog,
That is the ring of profitability for 30+ years, no down truns or furloughs ever, and explosive world wide growth you don't hear.
I hope you are wrong about the LCCs because all my buddies that got hired at the legacy airlines in the 90s are now working for the LCCs which are now paying better than most of the legacy airlines.
It is a crazy world out there for sure. Good luck to all
Freight Dog
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Jonny Sacko
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JJthejetplane
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FurloughedTwice
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I'm not sure what you are so upset about? What he didn't mention was that he was still sitting on reserve the other days and he probably lives near his base. That's a pretty good deal if you ask me. If you are flying 777 with any company you're not going to do 5 legs a day and work 18 days a month like a 737.
puddlejumper101
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Ben Franklin
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hateairlines
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Why continental? because.....
As A350 says
"CAL is a well run company with management that actually wants to run an airline......."
Form 8-K for CONTINENTAL AIRLINES INC /DE/
31-Mar-2006
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On March 29, 2006, the Human Resources Committee (the "Committee") of the Board of Directors of Continental Airlines, Inc. (the "Company") approved certain amendments to the Continental Airlines, Inc. Long-Term Incentive and RSU Program (the "Program").
The Program, as originally established by the Committee in 2004, included a restricted stock unit ("RSU") program based on absolute performance of the Company's Class B common stock ("Common Stock"). Under the original Program, RSUs vested during a performance period if the Common Stock achieved a targeted price as established by the Committee (based on a 20 trading day average price).
The Committee amended that program to align management's performance objectives with those of their co-workers under the Company's broad based Enhanced Profit Sharing Plan adopted in February 2005 in connection with the Company's wage and benefit reductions. Any future RSU awards granted under the amended program will only vest upon the achievement of profit-based performance targets. The profit-based performance targets, which will be set by the Committee in connection with any future RSU awards, will require that (1) the Company achieve target levels of cumulative profit sharing pools that are the basis for calculating distributions to employees under the Company's Enhanced Profit Sharing Plan, and (2) the Company achieve positive net income for the fiscal year in which the award vests. Once vested, an RSU award will pay out in cash in an amount calculated based on the number of RSUs subject to the award, times the Company's Common Stock price (based on a 20-day average price immediately prior to the payment date) times the payment percentage set by the Committee for achieving the applicable profit-based performance target.
To enhance retention, those payments will be made to participants in one-third increments with one year between the payments. Only participants who remain continuously employed through the payment date will receive a payment, with limited exceptions in the case of death, disability, retirement or certain involuntary termination events.
An additional payment hurdle has also been added that requires the Company to have a minimum unrestricted cash, cash equivalents and short term investments balance (as specified by the Committee in connection with any future RSU award) before a payment on an RSU award can be made. If the Company does not achieve the cash hurdle applicable to a payment date, the payment will be deferred to the next payment date (March 31 of the following year), subject to a limit on the number of years payments may be deferred.
In addition to the amendments described above, the Committee amended the Program to comply with the requirements of Section 409A of the Internal Revenue Code of 1986.
The Committee did not make any new RSU awards under the amended program
As A350 says
"CAL is a well run company with management that actually wants to run an airline......."
Form 8-K for CONTINENTAL AIRLINES INC /DE/
31-Mar-2006
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On March 29, 2006, the Human Resources Committee (the "Committee") of the Board of Directors of Continental Airlines, Inc. (the "Company") approved certain amendments to the Continental Airlines, Inc. Long-Term Incentive and RSU Program (the "Program").
The Program, as originally established by the Committee in 2004, included a restricted stock unit ("RSU") program based on absolute performance of the Company's Class B common stock ("Common Stock"). Under the original Program, RSUs vested during a performance period if the Common Stock achieved a targeted price as established by the Committee (based on a 20 trading day average price).
The Committee amended that program to align management's performance objectives with those of their co-workers under the Company's broad based Enhanced Profit Sharing Plan adopted in February 2005 in connection with the Company's wage and benefit reductions. Any future RSU awards granted under the amended program will only vest upon the achievement of profit-based performance targets. The profit-based performance targets, which will be set by the Committee in connection with any future RSU awards, will require that (1) the Company achieve target levels of cumulative profit sharing pools that are the basis for calculating distributions to employees under the Company's Enhanced Profit Sharing Plan, and (2) the Company achieve positive net income for the fiscal year in which the award vests. Once vested, an RSU award will pay out in cash in an amount calculated based on the number of RSUs subject to the award, times the Company's Common Stock price (based on a 20-day average price immediately prior to the payment date) times the payment percentage set by the Committee for achieving the applicable profit-based performance target.
To enhance retention, those payments will be made to participants in one-third increments with one year between the payments. Only participants who remain continuously employed through the payment date will receive a payment, with limited exceptions in the case of death, disability, retirement or certain involuntary termination events.
An additional payment hurdle has also been added that requires the Company to have a minimum unrestricted cash, cash equivalents and short term investments balance (as specified by the Committee in connection with any future RSU award) before a payment on an RSU award can be made. If the Company does not achieve the cash hurdle applicable to a payment date, the payment will be deferred to the next payment date (March 31 of the following year), subject to a limit on the number of years payments may be deferred.
In addition to the amendments described above, the Committee amended the Program to comply with the requirements of Section 409A of the Internal Revenue Code of 1986.
The Committee did not make any new RSU awards under the amended program
iwannaflyCAL
Hmmmm...
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Continental Airlines Contributes Additional $50 Million to Its Defined Benefit Pension PlanHOUSTON, June 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- Continental Airlines, Inc. (NYSE: CAL) today announced that it has contributed $50 million to its defined benefit pension plan from proceeds received in the second closing under a secured term loan facility. Continental Airlines and its wholly owned subsidiary, Continental Micronesia, Inc., borrowed $50 million on June 10, 2005, raising the total borrowed under such facility to $350 million.
"Our employee pension plan continues to be a high priority," said Chairman and CEO Larry Kellner. "We are working hard to fulfill our pension obligations and keep our promises to our employees."
The contribution is in addition to Continental's pension plan contributions earlier this year, bringing its year-to-date pension contribution to $180 million.
The closing of the initial $300 million borrowing under the term loan facility occurred on June 1, 2005. With the completion of the second funding on June 10, the facility is now fully funded.
This could be a reason why ..........
"Our employee pension plan continues to be a high priority," said Chairman and CEO Larry Kellner. "We are working hard to fulfill our pension obligations and keep our promises to our employees."
The contribution is in addition to Continental's pension plan contributions earlier this year, bringing its year-to-date pension contribution to $180 million.
The closing of the initial $300 million borrowing under the term loan facility occurred on June 1, 2005. With the completion of the second funding on June 10, the facility is now fully funded.
This could be a reason why ..........
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