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London Jets
17th Dec 2004, 09:33
Hi All

I spoke with Rachael at Moore Stephens yesterday and she told me that they are just waiting of confirmation of what we are owed (these figures come from ERA Soloutions) before they will start writing any cheques.

They should be in possesion of enough cheques and cheque writers as well as the amout of what we are owed by the beginning of next week.

EAAC have released 500,000 to Moore Stephens (the second half million will be released in May 2005) and we will be paid at 3p in the pound this time around with the balance in May also to be paid at 3p in the pound. It still works out at 6p in the pound - it is just that the figures have been halved thats why it is 3p in the pound.

However if EAAC profits are more than 1million while operating under the protection of the CVA, for example if they make 1.5 million pounds then in May, Moore Stephens will be given an additional 1million as they would have already been given 500K (this total makes 1.5 million pounds - EAAC's operating profit while operating under the CVA). But if EAAC's profits are less than the second installment of 1million Moore Stephens will still get 500,000 in May as the second 1million is a garrunteed amount, (500,000 now and 500,000 in May totals the second 1million payment that has been promised)

So expect a cheque within the next couple weeks, though I doubt it will be for that much!

L J

Mods - I know I have posted this in the Cabin Crew forum as well, but I just want it to be read by as many Ex-EAAC staff as poss so they know what is going on and what to expect.

jordan
17th Dec 2004, 09:40
How does one "right" a cheque?

London Jets
17th Dec 2004, 09:51
Thank you for your spelling and grammar check Jordan, I have corrected it now.

I the intention of this post is quite important - especially for the 560 of us ex-EAAC employee's that were laid off in March of this year, without pay of notice. You will know the story if you have been reading it on pprune.org or on this site http://eaac.proboards3.com there has also been alot of talk about it in the industry this year. I was just trying to get the message to as many ex-EAAC staff as poss, this is a rumours and news forum for Flight Deck, this is news for Flight Deck - as well as the other crew that were with EAAC.

Once again thanks for your input, but I hope you can appreciate the nature of my post.

L J

fourplay
17th Dec 2004, 09:52
Bee Nice, I'm shore it was a typo!

;) ;) ;)