scotron11
Posts: 1181
Joined: Tue Feb 10, 2004 4:54 pm

Take The Money And Run

Thu Dec 02, 2004 8:29 am

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.
 
jumbojim747
Posts: 2425
Joined: Sat Oct 16, 2004 8:05 pm

RE: Take The Money And Run

Thu Dec 02, 2004 10:03 am

Who will fly the planes from now till they sort out the mess ??
On a wing and a prayer
 
aa777jr
Posts: 2269
Joined: Tue Feb 17, 2004 12:03 pm

RE: Take The Money And Run

Thu Dec 02, 2004 10:16 am

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
A liberal is a man who is right most of the time, but he's right too soon.
 
moman
Posts: 708
Joined: Tue Aug 10, 2004 7:17 am

RE: Take The Money And Run

Thu Dec 02, 2004 10:19 am

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
 
N1120A
Posts: 26467
Joined: Sun Dec 14, 2003 5:40 pm

RE: Take The Money And Run

Thu Dec 02, 2004 10:21 am

>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
 
Dalmd88
Posts: 2390
Joined: Fri Jul 28, 2000 3:19 am

RE: Take The Money And Run

Thu Dec 02, 2004 4:52 pm

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.
 
bobnwa
Posts: 4460
Joined: Fri Dec 22, 2000 12:10 am

RE: Take The Money And Run

Fri Dec 03, 2004 12:18 am

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!!!
 
N79969
Posts: 6605
Joined: Tue Jan 29, 2002 1:43 am

RE: Take The Money And Run

Fri Dec 03, 2004 12:28 am

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.
 
MTChemNerd757
Posts: 224
Joined: Thu Feb 05, 2004 5:17 am

RE: Take The Money And Run

Tue Dec 07, 2004 3:46 am

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!