I'm not certain that is correct. But to tell you the truth I am not sure and why I am asking.DHC-1 Jockey wrote:And just so I'm understanding this right and to put it into layman's terms, Air Canada can say "we're going to lower your block hours and there's nothing you can do about it." Then, Jazz can either take their lumps and reduced flying, or say "Screw it" and close up shop?
Thanks for posting the wording Rudder. But you didn't explain anything. Reading isn't my problem...understanding is. As you can see from the post above not understanding may cause undue concern.
Is there not a Block hour Guarantee and a MADUG guarantee? How would unilaterally changing one metric negate the other? Or are the two metrics intertwined somehow? I have asked questions but it seems to me the straight answer is no one is completely sure as the actual wording of the CPA is confidential.
I realize I probably just exposed how much I don't understand. . However I think that goes for most.
Is there risk from the above wording in 2016? If so, how much?
Could it actually be as blunt an instrument as DHC-1 Jockey just posted?
Does he even update it more than 3x a year? They're pretty secretive these days. I haven't even heard a memo from doom and gloom (Joe) in ages!Full Ins wrote:Sounds like a good question to post to Steve L. on his blog on jazznet.
This makes for some interesting speculation. Somewhere in the public domain the % change in market share exists. I would be curious to see what that number is.rudder wrote:Fanblade wrote:
provides Air Canada with the right to revise the MADUG effective in January 2016 in the event Air
Canada’s domestic market share for the twelve month period from October 1, 2014 to September 30, 2015 has decreased by a
fixed percentage compared to its domestic market share for the twelve month period from August 1, 2008 to July 31, 2009. [/i]
According to AC investor relations
2008 was 57% domestic market share.
2011 was 55%
So we know AC's domestic market share is declining. At its current rate of decline it will be 4% lower in 2014 than 2008. Likely Encores start will accelerate the decline.
What we don't know is the trigger percentage. Even if triggered no one seems to understand (I think) the potential out come.
I left last summer after 4.5 years. You do get your pension money back however you must put it into a locked in RSP. I think the other option was to receive the pension money when you retire and get paid the monthly instalments.nottellin wrote:For someone who leaves Jazz early, do they get any money back from the pension contributions they have made? I have never been in a defined benefit plan so just curious how that works for you guys.
When I left everything was mailed to me from Jazz and I just sat down with a financial planner at my bank who filled out all the paperwork and 6 weeks later had the money in the locked in account, was pretty seamless actually.