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So post the increases, all we have you're hearsay, no facts, nothing but you saying it happened.
Since June 20, 2012 and at the end of this year DL's pilots would have gotten nearly 20% in a 2 1/2 year period, did any other employee groups get that high of a raise in the same 2 1/2 year period?
Put up or shut up, and the what is greater, a percentage of 200,000 or 40,000?
And what happened to the DL non-union pension?
It was taken away also now wasnt it?
Funny thing is we all know about Leadership 7.5, what about "Operation Clockwork" that happened before chapter 11?
The non-union employees had their pensions frozen, so they dont get any future accural from it, now do they?
And Delta had to give the PBGC stock to make up for the shortfall and ALPA and DL negotiated a replacement pension, something you cared to post.
http://www.pionline.com/article/20130829/ONLINE/130829877/delta-air-lines-picks-wurts-as-outsourced-cio
Since June 20, 2012 and at the end of this year DL's pilots would have gotten nearly 20% in a 2 1/2 year period, did any other employee groups get that high of a raise in the same 2 1/2 year period?
Put up or shut up, and the what is greater, a percentage of 200,000 or 40,000?
And what happened to the DL non-union pension?
It was taken away also now wasnt it?
Funny thing is we all know about Leadership 7.5, what about "Operation Clockwork" that happened before chapter 11?
The non-union employees had their pensions frozen, so they dont get any future accural from it, now do they?
And Delta had to give the PBGC stock to make up for the shortfall and ALPA and DL negotiated a replacement pension, something you cared to post.
Its pension plans are permanently frozen, and the carrier did enjoy relief from federal government that allows a longer funding period for commitments prior to freezing of the plan and favourable discounting rates. Yet its pension commitments remain hefty, prompting many investors to question how Delta will fund its requirements.
Presently, depending on the discount rate, Delta’s pension funding commitments could range from USD8 billion to USD13 billion. The carrier has stated it plans to make up to USD1 billion of incremental contributions to the plan during the next five years in addition to the USD650 million to USD700 million in minimum annual required contributions. Mr Bastian admitted that Delta realises the pension risk is a “bit of an overhang” but the carrier believes the minimum pension requirements over the next decade combined with 9% return on assets should create sufficient cash flows for its pension funding.
http://www.pionline.com/article/20130829/ONLINE/130829877/delta-air-lines-picks-wurts-as-outsourced-cio
Delta had $8.2 billion in defined benefit plan assets as of Dec. 31, and $21.5 billion in projected benefit obligations, for a funding ratio of 38.1%, according to the company's most recent 10-K filing
Under the settlement agreement, the PBGC will make a final decision whether to accept the PBGC staff’s recommendation that the Pilot Plan meets the statutory criteria for distress termination. If the agency agrees that the Pilot Plan meets all legal criteria for distress termination, the PBGC will become the Plan’s trustee, establishing a Sept. 2, 2006 termination date for the Plan. In settlement of its claims against Delta and its affiliates, the PBGC will be allowed a pre-petition unsecured claim against Delta of $2.2 billion, and the debtors’ proposed plan of reorganization will provide for the distribution to the PBGC of $225 million in senior unsecured notes.
The Bankruptcy Court previously determined that Delta could not reorganize or emerge from Chapter 11 unless the Pilot Plan was terminated.
As previously announced, retired Delta pilots will receive in excess of $800 million in allowed claims in respect of their lost non-qualified pension benefits. Delta’s current pilots are now covered by a defined contribution pension plan previously negotiated with the Air Line Pilots Association, the union representing Delta’s more than 6,000 current pilots.