PenAir

ASpilot2be said:
It's a sad day for all of us. A lot of good people are gonna be out of a job. :(
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I mean this in the most respectful way I really do, but is this anything to be sad about? Nobody is really out of a job here, there are tons of pilot jobs out there.
 
Inverted said:
I mean this in the most respectful way I really do, but is this anything to be sad about? Nobody is really out of a job here, there are tons of pilot jobs out there.
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In addition to the ground people, switching jobs sucks in this industry. It’ll probably be an overall win for those who were looking to move on anyway, but I’m sure there will be a fair amount of suck to be passed around.
 
Inverted said:
I mean this in the most respectful way I really do, but is this anything to be sad about? Nobody is really out of a job here, there are tons of pilot jobs out there.
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That is a point. But it does suck having to make a lateral move. Especially for all the people just upgrading, or are right on the verge of upgrade. But it is nice everybody is able to land on their feet.
 
Not sure what happened here but there a lot of places that would rather declare bankruptcy and cancel flights; rather than raise pilot salaries and keep employees.
 
alaskadrifter said:
Pilot salaries were raised.
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They had trouble finding pilots so that means the pay and benefits weren't high enough. In order to compensate for not having big jets to fly, some companies are just going to have to raise pay. That is just market reality right now.
 
Mavmb said:
They had trouble finding pilots so that means the pay and benefits weren't high enough. In order to compensate for not having big jets to fly, some companies are just going to have to raise pay. That is just market reality right now.
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I get that. But the ch 11 isn't to stiff the pilots.
 
Plata said:
Sure it is. Raising salaries to retain key people is commonly done during bankruptcy.
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AFTER you file Chapter 11 and have secured keep-it-going financing. It requires approval from the bankruptcy judge as a reasonable and prudent thing to do. Which, at that point, it may well be.

But my point is that prior to filing BK, you usually don't have the cash to do so. At that point, people have been known to do stupid and desperate things :aghast:.
 
I offer that many of the regionals don't have the financial white space to go raise salaries. It's one thing when your revenue is set by your ticket prices. Its quite another when your revenue is set by a single monolithic customer like Delta or the DOT.
 
hook_dupin said:
I offer that many of the regionals don't have the financial white space to go raise salaries....
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I love the new euphemism. Is "financial white space" the same as "Green Space" or "Black Ink" on a financial statement?

But we certainly agree on the content of the statement!
 
hook_dupin said:
I offer that many of the regionals don't have the financial white space to go raise salaries. It's one thing when your revenue is set by your ticket prices. Its quite another when your revenue is set by a single monolithic customer like Delta or the DOT.
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I offer that if you can't afford market prices, maybe you shouldn't be in the market.
 
z987k said:
I offer that if you can't afford market prices, maybe you shouldn't be in the market.
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The counter to this is that "market price" 2-5 years ago when some of these contracts were agreed was very different than now.

The "you should have seen it coming" arguement has some validity. At the same time, I can't imagine an analyst saying "I think our labor costs are going to double and that recruiting will be our top priority for 2017" to his CFO back in 2013 or 2014. Change has been very rapid in this industry.
 
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