Any news on the APA/ AA negotiations?
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Sorry, this maybe redundant since I am not sure if my first message got sent.
This is not to fan flames so please don;t take it as such.
I recently overheard a CA, F/O, and a crew of 5 f/a discussing the APA contract talks. The f/o chimed in and said he overheard that over at UA, the company was attempting a major overhaul of the Pilots pension funds (a and B).
Essentally, he understood that UA wanted to end the defined plan Fund A and simultaniously reduced their obligated matching contributions to fund B (e.g. the percentage of matching to the 401k.
Of course the Captain (who was very senior and close to retirement.. lucky him
said he would quit/retire instantly and it would p**s him off if he heard AA say the same thing. Well, one of the crew asked how much was contributed to the defined plan and the response was appox. $4500.00 per month per pilot. (totalling 45 mil per month.) Mind you, I know of no other work group getting pensions like this.
At that comment, a slightly offened f/a jumped in and said some pretty pointed comments like 'With the money Pilots are paid, why shouldn;t pilots save for retirement like every other work group especially since they make so much more." and that pension money is almost a third of AA's cash burn every day. blahh blah blah... Regardless.... I think to each their own... you guys won that in past contracts and then should get it regardless of what anyone else thinks.
Okay. so can anyone tell me.... is that $4500.00 per month correct? and would anyone in this recession/industry really quit if AA threaten and succeeded in taking it away.
Thanks
This is not to fan flames so please don;t take it as such.
I recently overheard a CA, F/O, and a crew of 5 f/a discussing the APA contract talks. The f/o chimed in and said he overheard that over at UA, the company was attempting a major overhaul of the Pilots pension funds (a and B).
Essentally, he understood that UA wanted to end the defined plan Fund A and simultaniously reduced their obligated matching contributions to fund B (e.g. the percentage of matching to the 401k.
Of course the Captain (who was very senior and close to retirement.. lucky him
said he would quit/retire instantly and it would p**s him off if he heard AA say the same thing. Well, one of the crew asked how much was contributed to the defined plan and the response was appox. $4500.00 per month per pilot. (totalling 45 mil per month.) Mind you, I know of no other work group getting pensions like this.At that comment, a slightly offened f/a jumped in and said some pretty pointed comments like 'With the money Pilots are paid, why shouldn;t pilots save for retirement like every other work group especially since they make so much more." and that pension money is almost a third of AA's cash burn every day. blahh blah blah... Regardless.... I think to each their own... you guys won that in past contracts and then should get it regardless of what anyone else thinks.
Okay. so can anyone tell me.... is that $4500.00 per month correct? and would anyone in this recession/industry really quit if AA threaten and succeeded in taking it away.
Thanks
