I was reading the paper today and though most of the story it was the same old same old until i got to the fas vote. It said that if the flight attendants fail to ratify again, they lose a bankruptcy claim worth about $18,000 per person. Does this mean if the fas vote no they get there old pay back????
WingnutMN From United States of America, joined Jan 2004, 658 posts, RR: 0
Reply 1, posted (7 years 8 months 2 weeks 18 hours ago) and read 2395 times:
No- It means that they keep the imposed pay, and lose out on the 180+ million bankrupcy claim. I also read somewhere that they would have to have a stand down in negotiations with the national mediation board or something like that, and also would lose the ability to strike for something like a year or more!
Jetjack would be the person to ask or hear from on this though.
Any landing you can walk away from is a good landing! It's a bonus if you can fly the plane again!!
Jetjack74 From United States of America, joined Jul 2003, 7440 posts, RR: 50
Reply 2, posted (7 years 8 months 2 weeks 18 hours ago) and read 2319 times:
Quoting WingnutMN (Reply 1): Jetjack would be the person to ask or hear from on this though.
We continue to work under the Terms And Conditions of Employment(TCE) which is what we work under as our contract. We were imposed the TCE by the bankruptcy court after the failed TA-2. We're currently voting on TA-3(I voted for it). If we vote this down, the bankruptcy claim is gone. It is distrbuted amongst the other unsecured creditors. Should we ratify the deal, we would recieve about 60% of the 1st 40%($18,000) of the claim as 35-40% of it is swallowed up in taxes. The rest of the 60% is deposited in a 401K account. It is currently trading at 70-74 cents on the dollar. It is still under the $195 million in pay and compensation cuts. Some FA's were spreading ridiculous rumours around that if we came out of bankruptcy without an agreement, that we would revert back to our previous agreement which is patently false. There are still some clowns out there online who still believe that although that myth was debunked almost 2 years ago. As far as us taking NWA to task? Doubtful. Our abilitly to seek self-help(strike) is hinged on whether we'll be released from talks and declare an impasse. That is looking increasingly dim and full of uncertainty. According to out AFA-CWA national president, Pat Friend, Bush said there will be no strikes in the airline industry(except for those that are adventageous to the airlines or would have little impact). I can't confirm or deny that was ever stated or not, but that notion is making us believe that the NMB won't release us from talk since 2 of the 3 NMB members are Bush apointees. But I highly doubt that a Democrat would allow an airline strike either, at least in the infancy of his/her administration. So the prospects for a strike is a long way off. I believe we're no different from the labour struggles that have taken place at AA, UA, US, DL or anywhere else. Same circus, different tent. We're all pissed with the way things have gotten, bu that's the business. I think our tentative agreement will pass and we'll move on reluctantly. The good news is, we're hiring, our flights are full, and we're making money again. I would like to see the same brisk expansion seen at DL, UA and others. I also expect us to announce a merger with DL in the next year or so.