American Airlines and Labor Negotiations

[NYer]

That’s my understanding as well for fleet

Topped TWU Fleet CC gets a $2.09 Premium.

 

[Bin Stretcher]

That is up from a whopping $1.01/hr

 

[Bin Stretcher]

It's ok! I'll keep the holiday pay, sick pay and double time to more than make up the difference! Hope to get the rest of you guys onboard soon! However, no concessions to me!

 

[NYer]

your last sentence is all the money. the idea of buying back shares serves the shareholder.

shareholder value.

going on $12 billion, with another $2 billion committed by dec. 2020. $14 billion and the company is scrambling to deny us $40 million here or $22 million there. no one is asking for the whole store, but let's call stingy, what is stingy.

i just watched the jetnet stuff and someone asked about market cap. the fact that parker said dl & southwest earn more money is a cop out. they don't earn double the profits.

southwest dared to hedge (very tepidly) while dl owns a refinery. what has aa done...something proactive, something cutting edge to deal with being at the mercy of jet fuel prices? the fact that aa burns more jet fuel than anyone else should have compelled the company to be proactive in attacking this issue.

aa has done nothing of note..nothing worth x millions to this exec or x millions to that exec.

aa and crandall removed an olive from salads served to the flying public and saved x-amount. crandall decided not to fully paint aa planes to save on weight/jet fuel. sabre...aadvantage miles/credit cards.

are the current lot of leaders in the same conversation?

They were one of the first if not the first to stop hedging on fuel and it save them millions as oil prices fell. Most others airlines followed suit.

They also bought new planes that burn less fuel which also saves them on maintenance.

Crandall also brought regionals, Eagle Ground Services, A&B scales, Jr. FSC, brought in PTers, eliminated building cleaners, shuttered BNA, RDU and SJC, took the APA to the brink of bankruptcy, eliminated a F/A on flights, ect., ect.... He has years that made money and lost money mostly on the backs of Labor when he made money.

 

[ALUS78]

They were one of the first if not the first to stop hedging on fuel and it save them millions as oil prices fell. Most others airlines followed suit.

They also bought new planes that burn less fuel which also saves them on maintenance.

Crandall also brought regionals, Eagle Ground Services, A&B scales, Jr. FSC, brought in PTers, eliminated building cleaners, shuttered BNA, RDU and SJC, took the APA to the brink of bankruptcy, eliminated a F/A on flights, ect., ect.... He has years that made money and lost money mostly on the backs of Labor when he made money.

And the TWU and others agreed to a lot of that outside bankruptcy
Did they at least ger rid of a level or two of managment to show they were sharing the pain.Because you guys have a lot of managers alot

 

[Jester]

southwest dared to hedge (very tepidly) while dl owns a refinery. what has aa done...something proactive, something cutting edge to deal with being at the mercy of jet fuel prices? the fact that aa burns more jet fuel than anyone else should have compelled the company to be proactive in attacking this issue.

Hedging is no panacea, as it is expensive, especially if the bet goes the wrong way. Parker has stated he would prefer to increase fares with fuel price increases and avoid the overhead costs of hedges and wrong bets. Not sure about Delta's refinery as rumor has been the investment to be a money loser during most of its ownership, especially as it floods the NYC market with cheap(er) jet fuel which benefits other airlines who are "free riders" without their investment in the facilities. https://www.reuters.com/article/us-...rofits-for-lower-fuel-cost-memo-idUSKCN10E0EZ

My preference would be AA having a "Black Swan" hedging strategy in future options should there be a huge exogenous shock in the oil markets causing jet fuel prices to double in short order... but what do I know, as I just toss bags for a living.

 

[AANOTOK]

If you noticed yesterday, Parker's last comment was about rising fuel prices. I do not think that was insignificant.

 

[AANOTOK]

Are they even communicating with the company? The word Association is pretty much a joke when I hear it mentioned on the ramp. Between them and the greedy mgmt it's a tough pill to swallow.

Not sure, they're not even communicating with their members.

 

[P. REZ]

Update

The Association sat together yesterday in DFW and were together as one in our message to Doug and Robert. I want to praise the comments and questions made by TWU members in the town hall. After the town hall Robert Isom stayed for about 30 minutes to talk with Association members. We pounded him with all the bs proposals the company has made. We defended our scope, insurance and numerous other issues.

I do see section 6 as a very likely scenario moving forward.

P. Rez

 

[P. REZ]

Update

I believe Doug stated the company proposal cost the company 100's of millions, which included the money they already gave us. What he failed to disclose is that with the minimum of 5000 jobs they want to outsource, that saves them 200-300 million per year. He also failed to disclose that the removal of our pension and insurance will save them millions too.

P. Rez

 

[NYer]

If you noticed yesterday, Parker's last comment was about rising fuel prices. I do not think that was insignificant.

Rising fuel prices causes shareholders and analysts to pressure for keeping other expenses in line.

Parker did say they believe these rising prices are a short term trend. Hopefully so.

 

[AANOTOK]

Update

The Association sat together yesterday in DFW and were together as one in our message to Doug and Robert. I want to praise the comments and questions made by TWU members in the town hall. After the town hall Robert Isom stayed for about 30 minutes to talk with Association members. We pounded him with all the bs proposals the company has made. We defended our scope, insurance and numerous other issues.

I do see section 6 as a very likely scenario moving forward.

P. Rez

Well isn't that great news...so the TWU can get screwed a few years more while the IAM benefits.
Again, this Association is nothing but a joke and has been a "colossal" failure for the TWU. It has protected the IAM and their benefits (nothing personal guys) while the bankruptcy and it's contract remain in place for the TWU members. The frustration is mounting...

 

[P. REZ]

Well isn't that great news...so the TWU can get screwed a few years more while the IAM benefits.
Again, this Association is nothing but a joke and has been a "colossal" failure for the TWU. It has protected the IAM and their benefits (nothing personal guys) while the bankruptcy and it's contract remain in place for the TWU members. The frustration is mounting...

AANOTOK,

That's misplaced anger you have there. It's the company offering a bs contract that's put us in this situation. If we would have fought for representation, either the the TWU or IAM would be in the same position, with the company pitting the two groups against each other with this same bs proposal.

P. Rez

 

[AANOTOK]

All I can say P. Rez is if I were in the IAM position, I would be saying the same thing you are.

 

[AANOTOK]

And by the way P.Rez, none of my complaints or frustrations are being lodged at you or CB, I think you two have done your best in offering info.