Delta pilot's union orders lockers cleared out

[ducklite]

Yeah, I was betting at least one of the GE arms had a piece of this. Wonder if any of the "holders of the purse strings" are putting any pressure on the pilot's union behind the scenes to modify their stance and get the contract resolved? I can't believe they'd sit back and just wait for Delta and the pilots to come to a resolution that essentially saves their investment, can you??

GE tends to work in strange ways. I sometimes think that the arms sometimes have no idea what the hands are doing. But my guess is that most of their cash investment is backed with collateral--planes--as well as some sort of underwriting in performance bonds. In that respect there have to be some reinsurance companies who are lobbying on Delta's behalf as well.

Anne

 

[ducklite]

Actually the avg age of the DL pilot probably is not as old as you might imagine. LOTS of them took early retirement last fall when they could take thier pension in cash and run. There have been several waves of that happening which have hit DL's senior pilot ranks pretty hard.

Plus remember pilots HAVE to retire at age 60 or 65 under federal law.

Interesting. The younger pilots can hedge bets that they will be picked up by other carriers. The older ones are probably in good shape as they should be able to collect a pension. It's the guys in their late 40's and early 50's who are in trouble in this scenario. Although depending on their living standard, if they are collecting a miliatry pension and have saved a nest egg, they might not be as bad off as we'd be left to believe.

Anne

 

[mrsmom]

My ex-DIL just called me from work, she is a gate agent at PVD. She told me to watch flights start being cancelled for no reason, pilots being sick, etc.
I have tickets for May 4th with Delta and she is going to let me know if she needs to refund them so I can get on another airline.
I feel so bad for all the employees. It will be disaterous for all.

Please let us know ,i have tickets for May6th-13th
Kim

 

[CarolA]

Interesting. The younger pilots can hedge bets that they will be picked up by other carriers. The older ones are probably in good shape as they should be able to collect a pension. It's the guys in their late 40's and early 50's who are in trouble in this scenario. Although depending on their living standard, if they are collecting a miliatry pension and have saved a nest egg, they might not be as bad off as we'd be left to believe.

Anne

Actually the older ones who didn't get in on the last wave are the ones screaming the loudest. Their is some type of two tier pension and this group is the last that has a good chunk... However, IF DL goes under it's gone. The Gov't takes it over and their guantee is not as good as DLs was.....

The other thing is that there are a lot fewer of the 20 year military pilots then there used to be. That 40 to 50 group is my age...that group did not tend to stay in 20 plus years before going to the airlines. (Not to mention that if they are exactly my age or a little older they were Carter Presidency graduates...miltary was DOWNSIZING.)

 

[goofy4tink]

This is giving me a very upset tummy!!! I wish we could fast forward a week to see where we stand. I have tickets on May 15 and then back again on the 21st. I really don't want to have to spend more money in order to get to WDW to spend more money!! Hopefully, if they do strike, I'll still be able to get to Florida, then I'll worry about getting home. I can always stay with my ds in Tampa since that's where I'm supposed to fly out of!!!

 

[ducklite]

Actually the older ones who didn't get in on the last wave are the ones screaming the loudest. Their is some type of two tier pension and this group is the last that has a good chunk... However, IF DL goes under it's gone. The Gov't takes it over and their guantee is not as good as DLs was.....

The other thing is that there are a lot fewer of the 20 year military pilots then there used to be. That 40 to 50 group is my age...that group did not tend to stay in 20 plus years before going to the airlines. (Not to mention that if they are exactly my age or a little older they were Carter Presidency graduates...miltary was DOWNSIZING.)

Carol, we're the same age roughly. I didn't realize they had a two tier system. My FIL was RIF'ed by IBM about 12 years ago--he was 58--not a good age to be an out of work prgrammer. Fortunately between his package and a little belt tightening they were OK, the house was paid for, kids moved out, and property taxes are very low where they live. But I can't imagine being in my mid to late 50's, with kids in college and a hefty mortgage and being in their position. I'm sure in that case they have the wisdom which comes with age about biting off your nose to spite your face...

Anne

 

[CarolA]

You know the other thing I was thinking is that these older pilots would be Vietnam era ages.... The military was not exactly having great retention then...

I don't recall all the details on the two tier system, but I do know that the older pilots have a much sweeter deal then folks my age!

 

[ducklite]

You know the other thing I was thinking is that these older pilots would be Vietnam era ages.... The military was not exactly having great retention then...

I don't recall all the details on the two tier system, but I do know that the older pilots have a much sweeter deal then folks my age!

Saigon fell in 1975, a 25 year old pilot then would be in his mid-50's now. If he hadn't stuck it out with the military, hopefully he falls inot the better tier as far as Delta's pension plan goes.

Anne

 

[CarolA]

Saigon fell in 1975, a 25 year old pilot then would be in his mid-50's now. If he hadn't stuck it out with the military, hopefully he falls inot the better tier as far as Delta's pension plan goes.

Anne

I know lots of those pilots didn't stick it out... my dad was in the Air National Guard and they had lots of "weekend warrior" pilots at the base. Now you do get a pension and benefits if you complete your 20 in the reserves, but it's not near as much as the full time guys get. (The big benefit for my dad's 20 has been health care and he wasn't eligible for that until he turned 65 unlike a full time retiree)

 

[ducklite]

I know lots of those pilots didn't stick it out... my dad was in the Air National Guard and they had lots of "weekend warrior" pilots at the base. Now you do get a pension and benefits if you complete your 20 in the reserves, but it's not near as much as the full time guys get. (The big benefit for my dad's 20 has been health care and he wasn't eligible for that until he turned 65 unlike a full time retiree)

I hear you. My BIL left the USAF for private sector--the income was simply too lucrative to not do so. He went into the USAFR and is now a full bird, he hits his twenty this year or next, but because of his rank and posting (minimal chance of ever seeing combat or anywhere except the base he's posted to due to his particular specialty), he'll probably reup for another hitch.

Anne