Tue, Nov 20, 2012
Court Issues Section 1113 Decision Regarding Pilot Cost Savings
Pinnacle Airlines said late last week that, in accordance with Section 1113 of the United States Bankruptcy Code, the United States Bankruptcy Court for the Southern District of New York has issued a ruling providing Pinnacle Airlines and the Air Line Pilots Association (ALPA), the legal representative of the Pinnacle Airlines pilot group, a clear path to a consensual agreement.
The Court noted three "very limited exceptions" that prevented it from granting Pinnacle's motion at this time, characterizing them as "relatively easy to fix." The court concluded that significant modifications to the CBA are needed.
"(The) ruling gives Pinnacle a brief opportunity to reach an agreement that will provide the savings we need," said John Spanjers, president and CEO of Pinnacle Airlines Corp. "Although the Court did not approve our proposed modifications in full, the Court gave the parties a clear road map to arrive at cost savings necessary for Pinnacle to emerge from bankruptcy as a viable, competitive company. We are hopeful that the Court's decision will facilitate a consensual resolution, and we will continue to devote every effort to that goal. Pinnacle continues to face severe financial challenges requiring urgent cost savings, but we now believe there is a path to achieving a competitive cost structure necessary to survive in our challenging industry."
Also: Boom Supersonic, Boeing 747-8, Boeing Grant, IKE's 300,000th, Rocket Lab, Duncan Aviation, Xplorer Mini Continental Motors seems to have a lot of faith in the future of aviat>[...]
Also: Safety Focus, Aero-Calendar, Mechanic Pay, Alaska Airlines, GAMA, CA Aviation Hall Of Fame, Gogo Biz 4G Dynon’s new dual band SV-ADSB-472 receives ADS-B traffic via 978>[...]
Scratches The Airplane From National Air Race In Reno The iconic World Cup winner and Formula 1 Air Racer "Hot Stuff", flown by Thom Richard will not be participating in the 2017 R>[...]
New Technical Cooperation Project Managed By EASA Unveiled The European Union (EU) and South Asian states recently celebrated the launch of a new project to enhance their ties in c>[...]
AD Number: 2017-06-09 Product: Certain Boeing Model 787-8 airplanes.>[...]