That's a fanciful narrative, but it's misleading.Chuck Schalk said:2012 AA pilots turned theirs down in bankruptcy and renegotiated with the company and settled for more.
Bullshit. Don't make things up. Why not stick to the facts?WeAAsles said:Yes the pilots were given more equity and a larger 401 contribution but that was because their retirement A plan was terminated in BK. That was the one where they were able to receive a lump sum payout on their exit from the company. For some top pay Captains that amount would have been over a Million dollars.
The pilots rejected Horton's offer. That much is factual.
After the judge ruled that AA could abrogate their contract, the pilots settled for the same wages they had earlier rejected and the same 401k contribution (14%) that they had rejected.
The improvements between what they rejected and what they ultimately got was the improved furlough protection (judge wouldn't let AA wipe that out entirely), less outsourcing (judge would not let AA have unlimited codesharing) and the A319s were included in the other single-aisle pay band (where AA had earlier wanted to pay A319 pilots less). The other irmprovement over the rejected offer included a 76-seat limit on large RJs instead of the 79 seats that AA had offered. As AA won't be giving the APA any 79-seat mainline planes to fly, this improvement is illusory.
Parker then offered the pilots the 16% 401k contribution (and higher hourly wages) as enticement to support the merger.
The pilots' equity (13.5%) was the same percentage that Horton offered them which they earlier rejected.
In short, it makes for a interesting tall tale that the pilots gained a lot by rejecting the LBFO from Horton, but the facts are that they settled for the same wages, the same 401k contribution and the same equity as they rejected earlier in the year.