AA Furlough info
06-22-2008, 04:06 PM
#11
I have shiny jet syndrome
Joined APC: Jan 2008
Position: ELACS, FACs and SECs. Who doesn't love 'em?
Posts: 984
Yes, they are over seen by Beacon Investments. A separate company.
I agree that in the end NOTHING is 100%, however lack of understanding has many of our own pilots not understanding the pension. There are vast amounts of information on our union's website about the A and B fund work.
Like I said, nothing is 100%, however they are well funded and safe at the this time.
AAflyer
P.S. At 36 year of age I wish it was crumbling apart, and threatened. I would love to have a couple thousand guys ahead of me bail.
I agree that in the end NOTHING is 100%, however lack of understanding has many of our own pilots not understanding the pension. There are vast amounts of information on our union's website about the A and B fund work.
Like I said, nothing is 100%, however they are well funded and safe at the this time.
AAflyer
P.S. At 36 year of age I wish it was crumbling apart, and threatened. I would love to have a couple thousand guys ahead of me bail.
06-22-2008, 04:27 PM
#12
Gets Weekends Off
Thread Starter
Joined APC: Sep 2006
Position: B-737
Posts: 392
One other fact that is often overlooked is AA's A fund features a lump sum payout which most pilots opt for. The lump sum represents the net present value of a pilot's single life annuity payments for his or her's life expectancy and represents only about half the amount a pilot would expect to collect if they elected to receive a monthly annuity check. Therefore AA has no pension liability after a pilot retires.
Also, if a typical A-fund recipient elected to receive a monthly check it would amount to only about 1/3 to 2/5's of a pilot's final average earnings (figuring 30 year LOS), way below the payouts that were at UAL, DAL, and NWA where funding levels required a payout of 60% of final average earnings.
Also, if a typical A-fund recipient elected to receive a monthly check it would amount to only about 1/3 to 2/5's of a pilot's final average earnings (figuring 30 year LOS), way below the payouts that were at UAL, DAL, and NWA where funding levels required a payout of 60% of final average earnings.
06-22-2008, 06:01 PM
#14
Gets Weekends Off
Joined APC: Apr 2008
Position: Sleeping in the black swan’s nest.
Posts: 5,725
If you don't think your company can come up with new and exciting ways to screw you in BK you are smoking major amounts of crack. Once they enter BK protection all bets are off, your contracts mean NOTHING, your previous pension rules mean NOTHING.
If I was in their shoes and had a chance to take a lump sum and run you can bet your rear end I'd be doing it. Leaving anything in the hands of a depraved BK management team and trusting that they will look out for your interests is akin to playing Russia roulette with 4 chambers loads.
Good luck.
If I was in their shoes and had a chance to take a lump sum and run you can bet your rear end I'd be doing it. Leaving anything in the hands of a depraved BK management team and trusting that they will look out for your interests is akin to playing Russia roulette with 4 chambers loads.
Good luck.
06-24-2008, 01:25 PM
#16
Gets Weekends Off
Joined APC: Dec 2006
Position: I was acquired, Not Hired
Posts: 1,784
Back to the thread,
Where did the June class of recalls reside seniority-wise. About 10,700 on the seniority list, about 1996 TWA hires, is that about right ? Been out of the loop. How many does this leave still on furlough (that have not been called yet) about 800 or so ?
Thx,
FF
Where did the June class of recalls reside seniority-wise. About 10,700 on the seniority list, about 1996 TWA hires, is that about right ? Been out of the loop. How many does this leave still on furlough (that have not been called yet) about 800 or so ?
Thx,
FF
06-24-2008, 03:06 PM
#17
No longer cares
Joined APC: Mar 2008
Position: 767er Captain
Posts: 12,109
06-24-2008, 03:25 PM
#18
AAmerican Way for AA Pay
Joined APC: Oct 2005
Position: B-737 Pilot
Posts: 1,617
Back to the thread,
Where did the June class of recalls reside seniority-wise. About 10,700 on the seniority list, about 1996 TWA hires, is that about right ? Been out of the loop. How many does this leave still on furlough (that have not been called yet) about 800 or so ?
Where did the June class of recalls reside seniority-wise. About 10,700 on the seniority list, about 1996 TWA hires, is that about right ? Been out of the loop. How many does this leave still on furlough (that have not been called yet) about 800 or so ?
06-24-2008, 04:07 PM
#19
Gets Weekends Off
Joined APC: Oct 2005
Position: CR7 Capt
Posts: 1,621
Now, I have kinda given up on fact AA will be hiring soon. Anyway I'm thinking I want go some place thats slated for little more aggressive growth plans. However, I am compelled to ask when you think they may hire again. Just curious. Its been sooo long.
06-24-2008, 07:36 PM
#20
Line Holder
Joined APC: Jul 2006
Position: Right forever.
Posts: 98
What age is the youngest pilot on property at AA? With the lack of/no hiring since spring 01, there figures to be a generation gap at AA. Whoever gets on the leading edge of the hiring when it starts again in a few years could have a good 10 years at the top.
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