Republic blames pilot shortage for bankruptcy
02-27-2016, 09:45 PM
#61
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Joined APC: Feb 2016
Posts: 377
I have a friend that went $60,000 in debt to for ATP's fast track program at a 12% interest rate. All he does is ***** and moan about how little money he has. Yeah, regional FOs deserve to be paid more. But that doesn't change the fact that he made very poor choices, and only has himself to blame.
02-27-2016, 09:50 PM
#62
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Joined APC: Mar 2011
Position: 737 FO
Posts: 2,699
You can look into a school all you want but the fact is I know of multiple schools that advertise a $60,000 program when in reality it's twice that amount usually.
There are aviation schools preying on students that can get funding by flat out lying about program cost and it's too late by the time they realize.
There are aviation schools preying on students that can get funding by flat out lying about program cost and it's too late by the time they realize.
02-28-2016, 01:54 AM
#63
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Joined APC: Feb 2006
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Posts: 2,300
Would you pay an extra premium when purchasing a used car just so the dealership could give the salesman a raise? The major partner is under absolutely no obligation to save any regional. If we fold, the planes and flying will simply go to the other regionals that are circling the bleeding carcass. That's just business.
02-28-2016, 06:14 AM
#64
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USATODAY.com - Another regional airline could bail out US Airways
02-28-2016, 06:51 AM
#65
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How many of that number is coming from another regional? I have been reading where some are losing over 100 pilots a month and I'm confident that not all are going to the majors or LCC.
Last edited by fire2flyer; 02-28-2016 at 07:10 AM.
02-28-2016, 07:14 AM
#66
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Position: 175 CA
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In my upgrade class at Skywest we had two instructors, 2 people from other regionals and 10 military. I think with republic announcement and the general trend in regionals we will see a lot of lateral moves.
02-28-2016, 07:39 AM
#67
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My new hire class had 46 total. Six came from other regionals and they spent less than a year at those regionals. We lost 6 guys in class from training failures and four of those six are now flying the line at Mesa.
02-28-2016, 08:31 AM
#68
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Position: Pitot heat, what's to eat?
Posts: 392
Tell me what I am missing... Republic has produced a *profit* every single quarter for years, up to and including their last financial statement.
Now they declare bankruptcy because, I assume, they are *forecasting* that they will not be making a profit going forward, and they want to renegotiate their contracts. Seems like an abuse of the bankruptcy system but putting that aside.... their big problem (they claim) is that they can't hire enough pilots to fulfill their contracts. Now, seems to me, that if I was one of those rare unicorns (an ATP qualified pilot looking to get on with a regional) the very last place I would go would be the place in bankruptcy with an unclear business model. Unless they are going to use the bankruptcy to renegotiate their pilot contract upwards by hefty double digits... is there a larger strategy at play here that I am missing? Because from where I sit it appears to be moronic.
Now they declare bankruptcy because, I assume, they are *forecasting* that they will not be making a profit going forward, and they want to renegotiate their contracts. Seems like an abuse of the bankruptcy system but putting that aside.... their big problem (they claim) is that they can't hire enough pilots to fulfill their contracts. Now, seems to me, that if I was one of those rare unicorns (an ATP qualified pilot looking to get on with a regional) the very last place I would go would be the place in bankruptcy with an unclear business model. Unless they are going to use the bankruptcy to renegotiate their pilot contract upwards by hefty double digits... is there a larger strategy at play here that I am missing? Because from where I sit it appears to be moronic.
02-28-2016, 08:42 AM
#69
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Its all relative, we've had some failures who are now at Skywest. Maybe different training atmospheres fit people differently.
02-28-2016, 12:24 PM
#70
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Position: E170 Captain
Posts: 31
This is actually very good advice for anyone looking to get into this career or any other field for that matter. Do yourself a favor and do multiple informational interviews with people already in the field. A few might feed you BS but sooner or later you'll find one person that cares enough to tell you how it actually is. Then make an informed decisions so you're not burdened with debt the rest of your life like many of us are now.
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