Details on Delta TA
05-16-2015, 04:40 AM
#4311
Gets Weekends Off
Joined APC: Oct 2013
Posts: 1,299
From LOA 46 (pre-BK):
-- Targeted 11% DC plan
-- Pilot - Pilot Swap Board
-- Bidding for CQ (delayed implementation)
From LOA $51 (BK):
-- $2.1B cash upon exiting BK
-- Requirement to remove 6 seats from all 76-seat jets if Troy Kane furloughed
-- Increased PS
-- MPPP distributed to pilots for self-investment
-- Flowback JS
Not that any of these came close to making them "cost-neutral" by any means...
05-16-2015, 04:54 AM
#4312
Gets Weekends Off
Joined APC: Mar 2008
Posts: 2,919
A few that I recall...
From LOA 46 (pre-BK):
-- Targeted 11% DC plan
-- Pilot - Pilot Swap Board
-- Bidding for CQ (delayed implementation)
From LOA $51 (BK):
-- $2.1B cash upon exiting BK
-- Requirement to remove 6 seats from all 76-seat jets if Troy Kane furloughed
-- Increased PS
-- MPPP distributed to pilots for self-investment
-- Flowback JS
Not that any of these came close to making them "cost-neutral" by any means...
From LOA 46 (pre-BK):
-- Targeted 11% DC plan
-- Pilot - Pilot Swap Board
-- Bidding for CQ (delayed implementation)
From LOA $51 (BK):
-- $2.1B cash upon exiting BK
-- Requirement to remove 6 seats from all 76-seat jets if Troy Kane furloughed
-- Increased PS
-- MPPP distributed to pilots for self-investment
-- Flowback JS
Not that any of these came close to making them "cost-neutral" by any means...
I wasn't sincerely asking the question, and not trying to come across as argumentative.
The point I was moreorless trying to make is that I believe contract negotiations are about realistic leverage as opposed to equal amounts of give and take.
To ask another question. How was the $2.1 billion distributed? I'm assuming this was small payout to each pilot after the pension fund was liquidated. Is that accurate?
05-16-2015, 06:20 AM
#4313
Gets Weekends Off
Joined APC: Oct 2013
Posts: 1,299
Being fairly junior at the time, my pay out filled up my 415(c) for several years with the remaining cash putting me well into AMT.
05-16-2015, 06:27 AM
#4314
Gets Weekends Off
Joined APC: Feb 2008
Posts: 19,599
Thanks Alan.
I wasn't sincerely asking the question, and not trying to come across as argumentative.
The point I was moreorless trying to make is that I believe contract negotiations are about realistic leverage as opposed to equal amounts of give and take.
To ask another question. How was the $2.1 billion distributed? I'm assuming this was small payout to each pilot after the pension fund was liquidated. Is that accurate?
I wasn't sincerely asking the question, and not trying to come across as argumentative.
The point I was moreorless trying to make is that I believe contract negotiations are about realistic leverage as opposed to equal amounts of give and take.
To ask another question. How was the $2.1 billion distributed? I'm assuming this was small payout to each pilot after the pension fund was liquidated. Is that accurate?
05-16-2015, 06:37 AM
#4315
Gets Weekends Off
Joined APC: Mar 2008
Posts: 2,919
The bankruptcy LOAs cost the pilots ALOT more than it did the company. I don't see at as unreasonable to think that C2015 should cost the company ALOT more than it does the pilot group. I don't believe we should be giving any concessions, and if it is part of the deal than we should demand an apples to apples cost comparison.
05-16-2015, 06:50 AM
#4316
Straight QOL, homie
Joined APC: Feb 2012
Position: Record-Shattering Profit Facilitator
Posts: 4,202
05-16-2015, 07:15 AM
#4317
Banned
Joined APC: Oct 2012
Posts: 335
Agreed. In down times, it's more give than take (although often not enough to satisfy the company), and in up times it's more take than give (although often not enough to satisfy the pilots).
It was paid out after Delta emerged from BK, which was after the pension was terminated. About 2/3 of the amount was coming in any case, while the other 1/3 was the result of that termination. The size of each pilot's payout was determined by a formula that considered a number of factors, including a pilot's seniority, his pay rate, his age, his status as active or inactive, etc.
Being fairly junior at the time, my pay out filled up my 415(c) for several years with the remaining cash putting me well into AMT.
It was paid out after Delta emerged from BK, which was after the pension was terminated. About 2/3 of the amount was coming in any case, while the other 1/3 was the result of that termination. The size of each pilot's payout was determined by a formula that considered a number of factors, including a pilot's seniority, his pay rate, his age, his status as active or inactive, etc.
Being fairly junior at the time, my pay out filled up my 415(c) for several years with the remaining cash putting me well into AMT.
05-16-2015, 07:21 AM
#4318
Gets Weekends Off
Joined APC: Oct 2013
Posts: 1,299
True. I was referring to the full amount that we received, having pre-sold the $2.1B claim for some 60 cents on the dollar.
05-16-2015, 07:21 AM
#4319
Banned
Joined APC: Oct 2012
Posts: 335
I don't quantify taking $100 out of someone's pocket, then handing them a $5 bill as a give and take. I look at it as someone taking $95 out of somebody's pocket.
The bankruptcy LOAs cost the pilots ALOT more than it did the company. I don't see at as unreasonable to think that C2015 should cost the company ALOT more than it does the pilot group. I don't believe we should be giving any concessions, and if it is part of the deal than we should demand an apples to apples cost comparison.
The bankruptcy LOAs cost the pilots ALOT more than it did the company. I don't see at as unreasonable to think that C2015 should cost the company ALOT more than it does the pilot group. I don't believe we should be giving any concessions, and if it is part of the deal than we should demand an apples to apples cost comparison.
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