American looking to "right-size" the company and staffing levels for the Fall and 2021

[eolesen]

Saw an email yesterday where one of AA's competitors is going to be letting certain groups rescind their voluntary separations because of the uncertainty over an extension of federal payroll grants and changing the point of when layoffs would be permissible to sometime in 2021.

That would hint that their HR department agrees with my earlier stated opinion that changing the no-layoff date is screwing over those who agreed to leave based on the original 10/1 date.

 

[La Li Lu Le Lo]

Pretty certain that T5Towbar works at UA, not AA... but I might be wrong about that.

At any rate I hate to hear of anyone losing their job, competitor or not.

 

[swamt]

I beg of you all, please do not depend on Congress to extend payroll support.

Start working on an exit strategy NOW.

Divest yourself of expenses if you can.

Analyze your monthly expenses and think of ways to save money or reallocate resources.

Try to have something to slide into October 1'st or develop a self improvement plan. If possible leverage your time to come back stronger. Learn a trade. Go to school. Finish that degree.

Do not allow hope to override good judgement, paralyzing you from taking steps to protect yourself. I know that seems like an obvious thing but when they shut down Fleet Service at TULE I saw so many people do nothing, waiting for the axe to fall due to false hope and fear. I don't want to see that sh*t show again.

Please, be proactive.

I certainly applaud what you are encouraging and suggesting and in 100% agreement with you. It is unfortunate that some folks haven't done this since the begging of the year, or better yet, when in good times have put forth the extra effort to become debt free prior to all this. I am very fortunate to have become debt free some years back. And yes I took the Dave Ramsey approach but never sent him a dime. Just constantly listened to his radio shows while driving home from work every single day, after about 2-3 weeks of just listening in, he has let out enough info that I took off and ran with it. Ran with it for 3 years then ran across an opportunity to sell house and pay off all outstanding bills and pay cash for a much much smaller home. Having no mortgage, no vehicle payments, no loan payments etc; really is a huge stress relief. So yes I too encourage what you are saying. But, the prob is they should have been doing all this in the past say, 5 years when they economy has been boosting. BUT, instead what did most do? They all (most) went out and spent like they were millionaires, trying to outdo their neighbors with houses, vehicles, the lawn, their lawn equipment, their little golf carts they use to get around the hood etc, you get it, and now they have bills up to their eyeballs. All the while they should have focussed paying everything off to become debt free.

Note: It amazes me about the Dave Ramsey plan. He cannot tell nor suggest anyone to do payments on vehicles, buy new, go into debt for anything, but yet he turns around and will finance someone to get thru his 9 month program and sells so many upgraded items as you go thru his system. Pretty sad as he sits back making millions upon millions off of folks in very dire and depressed situations, go figure huh???

Pretty certain that T5Towbar works at UA, not AA... but I might be wrong about that.

Yes he is at UAL.

 

[eolesen]

Ramsey is an interesting business model... I interviewed with them about 7 years ago, and they don't just sell the kool-aid on personal debt, they fully expect the employees to live it by example. But the basics of his plan are solid. We worked a debt snowball years ago and it works. I wish I'd discovered it sooner.

 

[NewHampshire Black Bears]

Dave Ramsey DOES give good advise.

HE ALSO Likes to Mix-In GOD and CHRISTIANITY !

Religion has NO PLACE in Business or POLITICS !

 

[eolesen]

Dave Ramsey DOES give good advise.

HE ALSO Likes to Mix-In GOD and CHRISTIANITY !

Religion has NO PLACE in Business or POLITICS !

How is that any different than companies advertising their stance on social justice issues like Black Lives Matters, Pride Month, or recently, their policies on wearing masks?

It's his business, not a publicly traded company. He can run it however he sees fit, and say whatever he wants. Given their interview process, potential employees should have no doubt about what the company's values are, and what's expected of them. It's not for everyone, but you have the freedom not to go to work there.

 

[Filter]

Dave Ramsey DOES give good advise.

HE ALSO Likes to Mix-In GOD and CHRISTIANITY !

Religion has NO PLACE in Business or POLITICS !

You do realize that religion is a business, right?...also you have a constitutional right of freedom of religion, but that doesn’t give you freedom FROM religion...if you don’t like it, don’t listen to it...full disclosure, I’m not a very religious person...

 

[mike757]

You do realize that religion is a business, right?...also you have a constitutional right of freedom of religion, but that doesn’t give you freedom FROM religion...if you don’t like it, don’t listen to it...full disclosure, I’m not a very religious person...

You left out two important words: TAX & EXEMPT

 

[JREwing]

The three of you should continue this at the water cooler.

 

[Rogallo]

Article posted on www.local591.com:

American Airlines VEOP / VLOA Info Sessions

American Airlines VEOP / VLOA Info Sessions

Frontline Team Member Information Sessions: VEOP/VLOA Programs

Airport Teams

We invite you to participate in informational sessions to learn more about our VEOP/VLOA programs. The meeting will be hosted by Laura Dove from the People Team. Meeting details are provided below:

Friday, July 31

1:00 pm - 2:00 pm CST

Call in number (audio only)

1-866-240-1897

Access Code: 130 612 3045 (When asked for attendee ID, press #)

Audio & Video Click Here: Join meeting


Monday, August 03, 2020
4:00 pm - 5:00 pm CST

Call in number (audio only)

1-866-240-1897

Access Code: 130 033 2237 (When asked for attendee ID, press #)

Audio & Video Click Here: Join meeting

Tuesday, August 04, 2020
3:00 pm - 4:00 pm CST

Call in number (audio only)

1-866-240-1897

Access Code: 130 848 3780 (When asked for attendee ID, press #)

Audio & Video Click Here: Join meeting

Wednesday, August 05, 2020
3:00 pm - 4:00 pm CST

Call in number (audio only)

1-866-240-1897

Access Code: 130 340 2223 (When asked for attendee ID, press #)

Audio & Video Click Here: Join meeting

Thursday, August 06, 2020
10:00 am - 11:00 am CST

Call in number (audio only)

1-866-240-1897

Access Code: 130 771 2499 (When asked for attendee ID, press #)

Audio & Video Click Here: Join meeting




Read More...

 

[Insp4]

So, How are outside investors looking at AA?....... Interesting article. Your thoughts?
Bankruptcy Risks Mount for Embattled American Airlines
https://investorplace.com/2020/07/a...AgXuHXCxvh4UbvK8xlcCrtmmgtyBKwMvHUORQtYng0JtM

 

[jimntx]

So, How are outside investors looking at AA?....... Interesting article. Your thoughts?
Bankruptcy Risks Mount for Embattled American Airlines
https://investorplace.com/2020/07/a...AgXuHXCxvh4UbvK8xlcCrtmmgtyBKwMvHUORQtYng0JtM

I think I'm gonna be sick!
Back in the Spring when the powers that be were predicting that 1 of the majors could go under before airline finances (in general) settled down. At the time I was sure that United would be the line to go under. I clung to that thought because I couldn't imagine AA failing. My bad. I also ignored the debt level of AA. At this point I'm grateful that my financial advisor sold my AAL holding by mistake. I told her to sell the AAL stock when it reached $50/share, Since it never got above $40, she thought I said sell at $40 which she did.
Insp4, Thanks for posting the article. I've pulled a few quotes out of it that I think may be the Doomsday for AA.

Airline traffic is not returning to normal anytime soon.
However, the average daily cash burn rate in Q2 by AA was $55 million, the highest among its peer group. Delta Air Lines (NYSE AL) has brought down its cash burn to $27 million in June; United Airlines (NASDAQ:UAL) is burning $25 million per day as per the quarterly report.
The airline doesn’t have the cash to keep paying the debt in a prolonged slowdown. It’s looking more and more likely that it will have to file for Chapter 11 sometime in the future. None of its debt matures before 2022, but high-interest costs could force its hand.

There is nothing to suggest that operating low-income yielding hubs will lead to long-term profits or heightened morale. (Ya think?) I loved that quote.

I think the "outside investors" that are creating all the investment volume on AAL are the ones who buy at $11.10 and sell at $11.35 then brag about the profit percentage on the sale. I'm just glad that DP promised that AA will never lose money again. I mean, he wouldn't lie to us, would he?

 

[dfw gen]

I think I'm gonna be sick!
Back in the Spring when the powers that be were predicting that 1 of the majors could go under before airline finances (in general) settled down. At the time I was sure that United would be the line to go under. I clung to that thought because I couldn't imagine AA failing. My bad. I also ignored the debt level of AA. At this point I'm grateful that my financial advisor sold my AAL holding by mistake. I told her to sell the AAL stock when it reached $50/share, Since it never got above $40, she thought I said sell at $40 which she did.
Insp4, Thanks for posting the article. I've pulled a few quotes out of it that I think may be the Doomsday for AA.

Airline traffic is not returning to normal anytime soon.
However, the average daily cash burn rate in Q2 was $55 million, the highest among its peer group. Delta Air Lines (NYSEAL) has brought down its cash burn to $27 million in June; United Airlines (NASDAQ:UAL) is burning $25 million per day as per the quarterly report.
The airline doesn’t have the cash to keep paying the debt in a prolonged slowdown. It’s looking more and more likely that it will have to file for Chapter 11 sometime in the future. None of its debt matures before 2022, but high-interest costs could force its hand.

There is nothing to suggest that operating low-income yielding hubs will lead to long-term profits or heightened morale. (Ya think?) I loved that quote.

I'm just glad that DP promised that AA will never lose money again.

Or outside forces like United or Delta, they would fall like dominoes.

 

[jimntx]

Given the quotes above, we now start the employee lottery entitled "what benefit will the company eradicate in bankruptcy this time?" They froze the pension plan last time around, what say you as to what's next to go on the chopping block. I've been gone just long enough to not have a good grasp on the employee benefits and which ones will/will not be eliminated.

 

[jimntx]

Dave Ramsey DOES give good advise.

HE ALSO Likes to Mix-In GOD and CHRISTIANITY !

Religion has NO PLACE in Business or POLITICS !

To a certain point SCOTUS disagrees with you. They've already ruled that religious institutions--such as parish schools--are free to deny certain benefits such as birth control medications and/or abortion to lay teachers. And, I have to say that I have no problem with that ruling. As noted elsewhere, the employee does not have to work there if that benefit is all that important to him/her.