New early out offer coming?

[jimntx]

If they would guarantee the 150k they would get alot of takers. I don't see them getting any more take g to roll the dice on them not entering bankruptcy in this crazy world. Getting rid of a 30 yr employee to keep a new hire, the company could recoup the 150k in just a few years and have many, many years of benefits in
As the professor sang in My Fair Lady."He's got. By George, he's got it. Remember, you are dealing with a man who told all of you (shortly after I retired 3 years ago) that "American will never lose money again"

If they would guarantee the 150k they would get alot of takers. I don't see them getting any more takers since last offer, no one in their right mind is going to roll the dice on them not entering bankruptcy in this crazy world. Getting rid of a 30 yr employee to keep a new hire, the company could recoup the 150k in just a few years and have many, many years of benefits in multiple ways.

If they would guarantee the 150k they would get alot of takers. I don't see them getting any more takers since last offer, no one in their right mind is going to roll the dice on them not entering bankruptcy in this crazy world. Getting rid of a 30 yr employee to keep a new hire, the company could recoup the 150k in just a few years and have many, many years of benefits in multiple ways.

Sorry about this nonsense post. MS Edge and no mouse makes for an impossible post edit.

 

[jimntx]

Bad post due to trying to make MS Edge and an editing field work with no mouse. Just remember, you are dealing with a man who told all of you (shortly after I retired 3 y ears ago that "American will never lose money again." (and we are laying off employees to prove that point.

 

[wings396]

Bad post due to trying to make MS Edge and an editing field work with no mouse. Just remember, you are dealing with a man who told all of you (shortly after I retired 3 y ears ago that "American will never lose money again." (and we are laying off employees to prove that point.

Jim, I usually enjoy most of your feedback, but you're really beating his remarks to death on this one. Obviously, he was wrong to say it, and minus a pandemic that nobody could have it imagined, he was right. The industry was stable for the first time in 20 years, and capacity and fares were pretty well balanced.

 

[keepourpensions]

Every part of the VOEP is subject to bankruptcy and the courts would decide if you get to keep any part of the offer should AA go bankrupt.

 

[dfw gen]

Every part of the VOEP is subject to bankruptcy and the courts would decide if you get to keep any part of the offer should AA go bankrupt.

Is this a personal or professional opinion?

 

[keepourpensions]

Is this a personal or professional opinion?

This answer comes from the company, it was asked on the online seminar Q&A yesterday.

 

[dfw gen]

This answer comes from the company, it was asked on the online seminar Q&A yesterday.

Very good. Thank you

 

[CremaDiLimone]

Is this a personal or professional opinion?

it's all anecdotal. the general consensus is that BK judges try to leave retirees alone, or, only a slap..not a punch. discussed this with some union people the other day.

one way or another, worker on payroll or retiree, if aa files, you're vulnerable...likely, more so as a current worker.

anecdote - have a neighbor who worked at chrysler. retired decades ago. he said when chrysler filed for BK in 2009, he took a small, but annoying hit on dental/vision insurance..used for supplemental to medicare.

that anecdotal story fits the general feeling about health insurance money and a potential aa BK.

- we're hearing that united is offering 18 months salary/no compensation for sk time accumulated.
i didn't hear anything about a united health insurance offer.

if united offers 18 months salary (roughly $100k for fleet) and say..$50k for insurance, that would lag behind aa's offer of 12 months salary + sk time + vc time, plus health insurance money from $150k to $100k.

if united is offering 18 months + up to $150k for insurance - best offer out there. i don't believe that's the case though.

 

[Talos]

it's all anecdotal. the general consensus is that BK judges try to leave retirees alone, or, only a slap..not a punch. discussed this with some union people the other day.

one way or another, worker on payroll or retiree, if aa files, you're vulnerable...likely, more so as a current worker.

anecdote - have a neighbor who worked at chrysler. retired decades ago. he said when chrysler filed for BK in 2009, he took a small, but annoying hit on dental/vision insurance..used for supplemental to medicare.

that anecdotal story fits the general feeling about health insurance money and a potential aa BK.

- we're hearing that united is offering 18 months salary/no compensation for sk time accumulated.
i didn't hear anything about a united health insurance offer.

if united offers 18 months salary (roughly $100k for fleet) and say..$50k for insurance, that would lag behind aa's offer of 12 months salary + sk time + vc time, plus health insurance money from $150k to $100k.

if united is offering 18 months + up to $150k for insurance - best offer out there. i don't believe that's the case though.

They do tend to go easier on retirees, but that is still a maybe. I suspect active employees would get hit pretty hard if AA filed, unless they did some kind of merger deal which seems unlikely but not out of the question. If one airline files then some of the others could very well hop on the bankruptcy train. Hopeful that none file and all the early out people get what they should.

 

[V.O. Reason]

Again I’m not always optimistic when it comes to the airlines but I still think bankruptcy is off the table for now unless the idiot in the White House mandates domestic testing for travel then AA won’t be the only one filing .
If that happens the industry will be in serious trouble. All you have to do is look at what the international testing has done it’s all but dried up international travel from what I’ve noticed.
Yet another big blunder by China Joe

 

[dfw gen]

Again I’m not always optimistic when it comes to the airlines but I still think bankruptcy is off the table for now unless the idiot in the White House mandates domestic testing for travel then AA won’t be the only one filing .
If that happens the industry will be in serious trouble. All you have to do is look at what the international testing has done it’s all but dried up international travel from what I’ve noticed.
Yet another big blunder by China Joe

Look at the Saudi reaction to joe's condemnation of their yemen problem. Gas is uo 40 cents a gallon, once they shut down federal land exploration, who knows. And that idiot butterig should stick to smoking maypoles.

 

[dfw gen]

At this rate if theres anything left on 4 years and the Republicans can pick someone that will keep his mouth shut and not shoot himself in the foot in should swing back to the right

 

[swamt]

it's all anecdotal. the general consensus is that BK judges try to leave retirees alone, or, only a slap..not a punch. discussed this with some union people the other day.

one way or another, worker on payroll or retiree, if aa files, you're vulnerable...likely, more so as a current worker.

anecdote - have a neighbor who worked at chrysler. retired decades ago. he said when chrysler filed for BK in 2009, he took a small, but annoying hit on dental/vision insurance..used for supplemental to medicare.

that anecdotal story fits the general feeling about health insurance money and a potential aa BK.

- we're hearing that united is offering 18 months salary/no compensation for sk time accumulated.
i didn't hear anything about a united health insurance offer.

if united offers 18 months salary (roughly $100k for fleet) and say..$50k for insurance, that would lag behind aa's offer of 12 months salary + sk time + vc time, plus health insurance money from $150k to $100k.

if united is offering 18 months + up to $150k for insurance - best offer out there. i don't believe that's the case though.

I don't remember any insurance guarantees out of the United offer either. Maybe D757 could verify for us. I thought there was a coverage period or something but no $$$ guarantee, I think???
I would love to see an airline offer 18 months plus 150K guarantee...

 

[CremaDiLimone]

They do tend to go easier on retirees, but that is still a maybe. I suspect active employees would get hit pretty hard if AA filed, unless they did some kind of merger deal which seems unlikely but not out of the question. If one airline files then some of the others could very well hop on the bankruptcy train. Hopeful that none file and all the early out people get what they should.

right...the only reason i mentioned BK is because BK is being mentioned by those refusing an aa early-out: afraid they will lose the insurance fund.

the airlines should get another PSP from the govt. it's the govt. at state and fed levels who are doing all they can to discourage/ban travel.

aa beat earnings because more people flew than anticipated - and this was without a vaccine or therapeutic.

imagine when there is herd immunity?

 

[CremaDiLimone]

I don't remember any insurance guarantees out of the United offer either. Maybe D757 could verify for us. I thought there was a coverage period or something but no $$$ guarantee, I think???
I would love to see an airline offer 18 months plus 150K guarantee...

i'll ask some united guys. through the years, when info is shared/exchanged, i'd usually get 4 different explanations from 4 different ua guys.