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Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by tyingq on Tuesday May 05, 2020 @08:41AM (#23079360)
~$29 on January 1st, 2020. A $1 target is pretty brutal. Though, for airlines, bankruptcy isn't all "bad". It invalidates their labor contracts, and allows them to renegotiate in an environment where they have a lot more leverage.
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by turbinerneiter on Tuesday May 05, 2020 @08:45AM (#23079409)
Awesome, another industry that was paying living wages will now stop doing that. Minimum wage aircraft mechanics and pilots. I guess flight attendants are already there.
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by fennecfoxen on Tuesday May 05, 2020 @09:04AM (#23079565)
According to Glassdoor, American Airlines flight attendants paid hourly average $30/hr, and $38,500 when salaried.

(Their pilots average ~$167,000 a year. The mechanics make ~$70,500. Reviews say the health insurance is pretty good, there is a modest 401(k) match, and of course you get to fly free on standby).

Please bring only meaningful in-depth critiques to HN, and leave the fact-free axe-grinding elsewhere.

Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by tyingq on Tuesday May 05, 2020 @09:11AM (#23079624)
"paid hourly average $30/hr"

I wouldn't make a direct comparison of that with other jobs. There are many work hours they aren't paid for, or are paid at a lower rate.

Oversimplified, but they are paid nothing or almost nothing for waiting around for late flights, security, etc. Full pay for "block hours" where the plane has pushed back, less for pre/post flight work. And lower seniority f/a folks can have a harder time getting hours at all, and they are well below average pay. Seniority is everything.

It's not a bad job considering the fairly low qualifications, but it's not really $30/hour. New flight attendants generally end the year around $20k gross. And that's at the majors.

Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by fennecfoxen on Tuesday May 05, 2020 @09:13AM (#23079643)
Maybe not! However, our poster upthread said that he guessed flight attendants were already at minimum wage it would need to take literally half their time before we're even to the $15/hr level that was pitched as a "living wage" in New York City, their hub city with the most expensive cost of living. (Other AA hubs: Charlotte, Chicago, Dallas, LA, Miami, Philadelphia, Phoenix, Washington, DC/Arlington. Some of these are cheaper than others.)
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by slumdev on Tuesday May 05, 2020 @09:15AM (#23079659)
This is technically correct but dishonest. These numbers are true only for American Airlines.

Every time you step on to an "American" plane that is "operated by xyz", you are not flying American Airlines. You are flying an American Eagle branded subcarrier like Republic or SkyWest. These subcarriers fly a very large percentage of "American" flights.

The pay and benefits at the subcarriers are dismal.

Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by fennecfoxen on Tuesday May 05, 2020 @09:34AM (#23079853)
This is a very interesting point in the general sense, but American Airline's impending bankruptcy is not going to affect labor agreements with Republic and SkyWest employees, because American is not a party to those agreements.
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by 0xfaded on Tuesday May 05, 2020 @08:58AM (#23079510)
Pretty much every entry level pilot job is near minimum wage.
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by fennecfoxen on Tuesday May 05, 2020 @09:06AM (#23079586)
My understanding is that American Airlines doesn't actually hire many entry-level pilots, and by the time you're experienced enough to be hired by any major passenger airline, you'll be making okay money.

The regional airlines, on the other hand — the ones running those little connector flights with CRJs and the like, branded "American Eagle" or "Delta Connection", with a four-digit codeshare and inferior snacks and entertainment — those are a lot less picky, and their pay is a lot more questionable.

Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by LargeWu on Tuesday May 05, 2020 @09:19AM (#23079706)
This is absolutely true. The university I went to is known for its commercial aviation program, and draws students from all over the nation and world to learn to be airline pilots. So many of them end up with huge debts, because flight school is crazy expensive, and eventually take non-aviation related jobs out of school because they just can't afford not to. Only those that were probably already very well off, or have connections, or are extremely driven, will ever sit behind the stick of a commercial jetliner for one of the bigs.
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by tyingq on Tuesday May 05, 2020 @08:59AM (#23079518)
It's a pretty interesting space. Pilots can make good money with seniority, but if they switch to another airline, they start at the very bottom again.

On the other hand, they do have collective leverage, as airlines can't quickly replace them.

Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by anthony_r on Tuesday May 05, 2020 @08:57AM (#23079504)
Bankruptcy is only really bad to whoever is the "bagholder". This pretty much always includes share-holders, and then depending on the extent of the event, may also include less-secured debt-holders.
Re:American Air’s $1 Price Target at Evercore Implies 92% Co... by formercoder on Tuesday May 05, 2020 @08:44AM (#23079394)
Bankruptcy is simply a tool in the restructuring toolbox.