RAH files for Chapter 11 bankruptcy
02-26-2016, 08:33 AM
#221
Gets Weekends Off
Joined APC: Jul 2008
Posts: 787
Same thing happened in Pinnacle Corp BK...EDC (Export Development Canada) owned the debt on the Q400's and DL CRJ900's, they along with DL and UA were the largest creditors in court.
When you're in BK court- YOU OWN NOTHING.
The creditors committee does.
02-26-2016, 08:36 AM
#222
patience
Joined APC: Mar 2011
Posts: 1,068
I was simply pointing out Republic owns the majority of their aircraft rather than leasing. You assumed I meant they owned their aircraft out right, sorry if I mislead you. As far as I know, there are very few, if any US airlines that pay cash for brand new aircraft. I don't see a huge difference operationally between leasing and owning(financed) in the contract carrier business.
02-26-2016, 09:18 AM
#225
Gets Weekends Off
Joined APC: Aug 2010
Posts: 547
Do you have a law degree? I love how you even turn RAH's bankruptcy into an opportunity to bash envoy. They f'ed you in the mind good!
02-26-2016, 09:44 AM
#226
Gets Weekends Off
Joined APC: Jun 2014
Posts: 923
Per a memo sent by the COO to pilots today:
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
"We will continue to train and utilize the Indy, FSI STL and CVG training facilities. There are no changes to the current schedules."
Whether you choose to believe him, and whether these things actually remain true after Ch. 11 is over, remains to be seen. Nonetheless, this is the stated position of the company.
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
"We will continue to train and utilize the Indy, FSI STL and CVG training facilities. There are no changes to the current schedules."
Whether you choose to believe him, and whether these things actually remain true after Ch. 11 is over, remains to be seen. Nonetheless, this is the stated position of the company.
02-26-2016, 09:47 AM
#227
Gets Weekends Off
Joined APC: Oct 2014
Position: Downward-Facing Dog Pose
Posts: 1,537
Almost always, mgmt either has fat golden parachutes or they get big bonuses following the restructure. Everyone else gets hosed.
02-26-2016, 09:49 AM
#228
Line Holder
Joined APC: Feb 2014
Position: 75 FO
Posts: 76
Per a memo sent by the COO to pilots today:
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
Whether you choose to believe him, and whether this statement actually remains true after Ch. 11 is over, remains to be seen. Nonetheless, this is the stated position of the company.
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
Whether you choose to believe him, and whether this statement actually remains true after Ch. 11 is over, remains to be seen. Nonetheless, this is the stated position of the company.
I'm wishing the best for RAH pilots, they hung it out till the end in negotiations, and secured a really good contract. However, Bedford caused this mess. Unless you get a new CEO, I'd recommend applying elsewhere, especially for the guys that have been there for less than 2-3 years. Bedford is causing RAH to die.
02-26-2016, 09:49 AM
#229
Gets Weekends Off
Joined APC: Oct 2014
Position: Downward-Facing Dog Pose
Posts: 1,537
Per a memo sent by the COO to pilots today:
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
"We will continue to train and utilize the Indy, FSI STL and CVG training facilities. There are no changes to the current schedules."
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
"We will continue to train and utilize the Indy, FSI STL and CVG training facilities. There are no changes to the current schedules."
That said, here's hoping they aren't like that in this case and can be trusted.
But I damn sure wouldn't trust any of them any further than I could throw my car.
02-26-2016, 10:03 AM
#230
Gets Weekends Off
Joined APC: Dec 2012
Posts: 610
Per a memo sent by the COO to pilots today:
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
"We will continue to train and utilize the Indy, FSI STL and CVG training facilities. There are no changes to the current schedules."
Whether you choose to believe him, and whether these things actually remain true after Ch. 11 is over, remains to be seen. Nonetheless, this is the stated position of the company.
"We will honor both of our Labor agreements. We are not asking for any changes to them. We will not ask the court for permission to reject them."
"We will continue to train and utilize the Indy, FSI STL and CVG training facilities. There are no changes to the current schedules."
Whether you choose to believe him, and whether these things actually remain true after Ch. 11 is over, remains to be seen. Nonetheless, this is the stated position of the company.
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