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Take The Money And Run  
User currently offlineScotron11 From United Kingdom, joined Feb 2004, 1178 posts, RR: 3
Posted (9 years 10 months 3 weeks 3 days 23 hours ago) and read 1706 times:

Report in NYTimes that 229 Pilots at DL have opted for retirement, locking in their benefits prior to a 32.5% pay cut scheduled to go into effect today. 197 of these were early retirements.

These pilots will receive retirement benefits based on their salaries before the pay cuts. They can also elect to receive half their benefits a lump sum and the other half as an annuity later, thus ensuring they receive at least some payout even if DL files for bankruptcy. The carrier only expected 100 pilots to opt for retirement.

694 DL pilots have retired this year and as of last month 2000 of the carriers roughly 7000 active pilots were eligible to retire.

8 replies: All unread, jump to last
 
User currently offlineJumboJim747 From Australia, joined Oct 2004, 2464 posts, RR: 44
Reply 1, posted (9 years 10 months 3 weeks 3 days 21 hours ago) and read 1631 times:

Who will fly the planes from now till they sort out the mess ??


On a wing and a prayer
User currently offlineAa777jr From , joined Dec 1969, posts, RR:
Reply 2, posted (9 years 10 months 3 weeks 3 days 21 hours ago) and read 1611 times:

Who will fly the planes from now till they sort out the mess ??

the DL pilots

I am glad to see this at DL, hopefully this will help out their finances.

AA777jr


User currently offlineMoman From United States of America, joined Aug 2004, 1054 posts, RR: 4
Reply 3, posted (9 years 10 months 3 weeks 3 days 21 hours ago) and read 1606 times:

Delta worked out a deal with their pilots that they could continue to fly after they retire for a limited time until they can get the rest of their crew to staff the flights. This prevents a work shortage and a guaranteed bankruptcy filing.

Moman



AA Platinum Member - American Airlines Forever
User currently offlineN1120a From United States of America, joined Dec 2003, 26593 posts, RR: 75
Reply 4, posted (9 years 10 months 3 weeks 3 days 21 hours ago) and read 1594 times:

>I am glad to see this at DL, hopefully this will help out their finances.<

I can see it ripping DL apart. DL planned on the cost/benefit of 100 early retirements, with double that number, they will be short pilots to fly equipment and have to pay out a lot more cash than they can afford in lump sum payments. Additionally, they will likely have to pay more overtime to staff the cockpits while they are short pilots, or they will have to recall pilots on furlogh who may or may not want to return to DL with the major cuts



Mangeons les French fries, mais surtout pratiquons avec fierte le French kiss
User currently offlineDalMd88 From United States of America, joined Jul 2000, 2571 posts, RR: 14
Reply 5, posted (9 years 10 months 3 weeks 3 days 14 hours ago) and read 1531 times:

Rumor has it not many have opted to continue flying after they retire. Sounds like we are going to be short in the 777A and 767A positions for a while.

User currently offlineBobnwa From United States of America, joined Dec 2000, 6489 posts, RR: 9
Reply 6, posted (9 years 10 months 3 weeks 3 days 7 hours ago) and read 1473 times:

All those pilots returing at once is NOT good for Delta. How will that help out Delta's finances. Believe me, Delta did not want this!!!

User currently offlineN79969 From , joined Dec 1969, posts, RR:
Reply 7, posted (9 years 10 months 3 weeks 3 days 7 hours ago) and read 1443 times:

As bad as it is for Delta, this certainly was a foreseeable consequence following the drastic reduction in pilot salaries. Delta did what it had to do to keep its finances in order. These senior pilots are doing the exact same thing.

Frankly these pilots would be dumb not to jump ship right now.


User currently offlineMTChemNerd757 From United States of America, joined Feb 2004, 230 posts, RR: 2
Reply 8, posted (9 years 10 months 2 weeks 6 days 3 hours ago) and read 1341 times:

Give me a driver's license, er, pilot's license, and I'll go be a Delta pilot. It's gotta pay better than what I make in the lab now...

Brad



Fight Terrorism - Ride a Bike!
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