Where is 9E Corp's Q4 report?
03-06-2012, 07:12 PM
#121
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Joined APC: Jan 2008
Posts: 33
Question now being would the employees associated with the Colgan certificate go with the airframes? One day a Pinnacle Holdings employee the next day a Skywest Inc. employee... how would this work with the contract? Is there any language pertaining to this type of hypothetical deal?
03-06-2012, 07:30 PM
#123
Gets Weekends Off
Joined APC: Oct 2011
Position: Taco Rocket Operator
Posts: 2,485
Question now being would the employees associated with the Colgan certificate go with the airframes? One day a Pinnacle Holdings employee the next day a Skywest Inc. employee... how would this work with the contract? Is there any language pertaining to this type of hypothetical deal?
Partial Asset Transfer
If the Company or any Airline transfers, by sale, lease or other
transaction, four percent (4%) of the aircraft in an Airline’s fleet
in any twelve (12) consecutive month period to any other air
carrier (excluding another Airline) or entity that controls another
air carrier, then, once the Company or applicable Airline and the
other air carrier reach agreement for transfer of the aircraft that
constitutes the 4% threshold, the Company or applicable Airline
will endeavor to secure the agreement of the transferee(s) to offer
pilot employment to a number of Pilots on the Pilots’ System Seniority
List based upon the total number of aircraft transferred or
to be transferred, provided the transfer of aircraft did or will result
in a reduction in force. If an agreement is secured, the Company
will consult with the Association concerning the terms upon
which such employment is offered (e.g., Pilots’ qualifications, seniority
and other relevant factors). In any case, no Pilot shall be
required to transfer with the aircraft. Section 24 will apply to any
position changes that occur as a consequence of the partial asset
transfer.
If the Company or any Airline transfers, by sale, lease or other
transaction, four percent (4%) of the aircraft in an Airline’s fleet
in any twelve (12) consecutive month period to any other air
carrier (excluding another Airline) or entity that controls another
air carrier, then, once the Company or applicable Airline and the
other air carrier reach agreement for transfer of the aircraft that
constitutes the 4% threshold, the Company or applicable Airline
will endeavor to secure the agreement of the transferee(s) to offer
pilot employment to a number of Pilots on the Pilots’ System Seniority
List based upon the total number of aircraft transferred or
to be transferred, provided the transfer of aircraft did or will result
in a reduction in force. If an agreement is secured, the Company
will consult with the Association concerning the terms upon
which such employment is offered (e.g., Pilots’ qualifications, seniority
and other relevant factors). In any case, no Pilot shall be
required to transfer with the aircraft. Section 24 will apply to any
position changes that occur as a consequence of the partial asset
transfer.
Qs are 11% of the present fleet....
03-06-2012, 07:35 PM
#124
Gets Weekends Off
Joined APC: Sep 2006
Position: Back in school.
Posts: 580
From the Pinnacle Corp JCBA:
Partial Asset Transfer
If the Company or any Airline transfers, by sale, lease or other
transaction, four percent (4%) of the aircraft in an Airline’s fleet
in any twelve (12) consecutive month period to any other air
carrier (excluding another Airline) or entity that controls another
air carrier, then, once the Company or applicable Airline and the
other air carrier reach agreement for transfer of the aircraft that
constitutes the 4% threshold, the Company or applicable Airline
will endeavor to secure the agreement of the transferee(s) to offer
pilot employment to a number of Pilots on the Pilots’ System Seniority
List based upon the total number of aircraft transferred or
to be transferred, provided the transfer of aircraft did or will result
in a reduction in force. If an agreement is secured, the Company
will consult with the Association concerning the terms upon
which such employment is offered (e.g., Pilots’ qualifications, seniority
and other relevant factors). In any case, no Pilot shall be
required to transfer with the aircraft. Section 24 will apply to any
position changes that occur as a consequence of the partial asset
transfer.
If the Company or any Airline transfers, by sale, lease or other
transaction, four percent (4%) of the aircraft in an Airline’s fleet
in any twelve (12) consecutive month period to any other air
carrier (excluding another Airline) or entity that controls another
air carrier, then, once the Company or applicable Airline and the
other air carrier reach agreement for transfer of the aircraft that
constitutes the 4% threshold, the Company or applicable Airline
will endeavor to secure the agreement of the transferee(s) to offer
pilot employment to a number of Pilots on the Pilots’ System Seniority
List based upon the total number of aircraft transferred or
to be transferred, provided the transfer of aircraft did or will result
in a reduction in force. If an agreement is secured, the Company
will consult with the Association concerning the terms upon
which such employment is offered (e.g., Pilots’ qualifications, seniority
and other relevant factors). In any case, no Pilot shall be
required to transfer with the aircraft. Section 24 will apply to any
position changes that occur as a consequence of the partial asset
transfer.
03-07-2012, 05:31 AM
#126
Gets Weekends Off
Joined APC: Oct 2011
Position: Taco Rocket Operator
Posts: 2,485
Pinnacle's market Cap is 23.5 million and Skywest has 646 million in the bank, so they could buy us and have plenty left over. The question is whether United/Delta wants Skywest to get bigger and control more lift, and if Skywest wants to take on another challenging merger when they still haven't finished the ASA/Expressjet consolidation yet. On the Pinnacle side, my guess is the investors and executives at Pinnacle would jump at this if the price was right, particularly if we end up in bankruptcy.
03-07-2012, 05:36 AM
#127
Gets Weekends Off
Joined APC: Oct 2011
Position: Taco Rocket Operator
Posts: 2,485
Still not sure if I buying this, however.
03-07-2012, 08:45 AM
#129
Gets Weekends Off
Joined APC: Jun 2010
Position: Doing what you do, for less.
Posts: 1,792
endeavour US, endeavor [ɪnˈdɛvə]vb to try (to do something)
Writing in the contract that Pinnacle will "try" to do something. Ha!! What a worthless piece of garbage. Not even worth the paper its printed on. This clause is only going to be beneficial to you guys if its beneficial for the company. And even then, they'll screw you.
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