Taking a picture of my "YES" vote now
12-09-2012, 08:12 AM
#121
Banned
Joined APC: Jun 2008
Position: A320 Cap
Posts: 2,282
OK, the UAL pilots bring to the LTD program no cash and many liabilities . They take from the monies allocated to the retro payment allotment to make up some of their shortfall. Meanwhile the CAL pilot's LTD program was funded with $100 Million CAL PILOT AFTER TAX WAGE dollars and supports far fewer pilots drawing benefits.
L-CAL pilot's portion of retro is too small, because LUAL torqued this portion of the TA.
"On Aug. 3, 2012, the company announced it had reached an agreement in principle with respect to a new joint
bargaining agreement with the Air Line Pilots Association (“ALPA”), representing pilots at United and Continental. The company recorded $454 million of expense in the third quarter associated with lump sum cash payments that would be made in conjunction with the ratification of the contract and the completion of the integrated pilot seniority list. This charge also includes costs associated with changes to existing pilot disability plans negotiated in connection with the agreement in principle."
L-CAL pilot's portion of retro is too small, because LUAL torqued this portion of the TA.
"On Aug. 3, 2012, the company announced it had reached an agreement in principle with respect to a new joint
bargaining agreement with the Air Line Pilots Association (“ALPA”), representing pilots at United and Continental. The company recorded $454 million of expense in the third quarter associated with lump sum cash payments that would be made in conjunction with the ratification of the contract and the completion of the integrated pilot seniority list. This charge also includes costs associated with changes to existing pilot disability plans negotiated in connection with the agreement in principle."
You just added 2+2 and got 14. Nowhere does it say that there was $454 Million in RETRO that was then re-allocated. It merely says the $454 Million in costs were recorded for retro AND LTD.
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