I need some explanation,
i looked on the worldairways site there is a pressrelease : (
http://www.worldairways.com/news/20060130-1.html ) which sounds pretty good to me.
The company offered our pilots two compensation options,” said Charlie McDonald, World Airways chief operating officer. “The first provided a 10 percent signing bonus and a pay increase of 3 percent in the first year and 4 percent annually for each of the next two years. The other option offered a 7 percent signing bonus and a 5 percent pay increase in the first year, followed by 3 percent annual increases for each of the next two years. Given the circumstances in the airline industry today, we believe we provided an attractive, comprehensive offer that addressed the major concerns expressed by the pilots during negotiations.”
Other provisions in the contract offer included:
• A commitment to add Boeing 747s to the World Airways fleet
• Qualified furlough protection for 90 percent of current pilots for the duration of the contract
• Preferential hiring at other World Air Holdings subsidiaries
• The addition of training pay
• Doubling guaranteed days off to 12 per month, coupled with a new volunteer system for additional flying
• Doubling basic life insurance
• Continued profit sharing
• Increasing the company contribution to retirement plans
The company did ask for increased contributions to its medical plan based on dramatic cost increases in recent years.
Have these guys been under payed (for some years) ? Is this offer a slab in the face???