Looks like I get some time off

[DirtyComanche]

My employer filed for creditor protection a couple days ago, and the actual ramifications of it have become much more clear today.  Already there is lessors demanding their assets (aircraft) back, and the owned aircraft that were collateral for loans are likely to be seized shortly as there is very real risk of them being devalued.  Without aircraft the operations tend to grind to quite a halt, or even if we have aircraft they need to be turned around to leave the country for winter work, which costs money (that they don't have to spend) and puts them at risk of not being able to be seized (creditors won't allow that either).

 

So it looks like I'm out of a job.  At the very least I'm not going back to work even if they want me, as there is a very good chance I won't be paid for anything since once the aircraft are gone the company doesn't have much.  I'm not looking to accept a pat on the back and a plane ticket home as payment, if that would even be offered at that point.

 

In light of all of this, I booked some flights to Maui.  Screw it.

[Pete M]

7 hours ago, DirtyComanche said:

In light of all of this, I booked some flights to Maui.  Screw it.

 

that sounds like an excellent time for a vacation.    

[mjeff87]

Well, that sucks, but you seem to be in a decent mood about it.  What's it take to cheeze off one of you Canuck's anyways?

 

Not to be a Debbie downer, but.....you do know there's a hurricane heading straight for Hawaii right now, yes?

 

(I'm not one to laugh.....it's looking like my location might be ground zero for a monster hurricane come this time next week, too.  LOL)

 

 

[gogmorgo]

One of the guys I'm in school with right now is a "dual ticketed aviation mechanic" (never asked what specifically that meant) who had a similar thing happen from the sounds of it. So now he's "upgrading" to heavy equipment tech like the rest of us plebes.

 

Does this newfound free time mean you'd be up for some rocker panel solidification? Lol. 

[HOrnbrod]

That sucks Dirty. How long have you worked for this outfit? What are chances of a job with another company? Will a skill set like you have I would think you would be in high demand.

[DirtyComanche]

2 hours ago, mjeff87 said:

Well, that sucks, but you seem to be in a decent mood about it.  What's it take to cheeze off one of you Canuck's anyways?

 

Not to be a Debbie downer, but.....you do know there's a hurricane heading straight for Hawaii right now, yes?

 

(I'm not one to laugh.....it's looking like my location might be ground zero for a monster hurricane come this time next week, too.  LOL)

 

Helicopter companies go broke all the time, so you always have to make sure you've got some cash away for when it happens.  No point crying about it, at least they timed this so it looks like I should get paid everything I'm owed, which was the big thing that mattered to me.

 

I should be there well after the hurricane passes.   But they've had some impressive storms this year it seems, oh well, can't be worse than -40 and sideways snow.

 

1 hour ago, gogmorgo said:

One of the guys I'm in school with right now is a "dual ticketed aviation mechanic" (never asked what specifically that meant) who had a similar thing happen from the sounds of it. So now he's "upgrading" to heavy equipment tech like the rest of us plebes.

 

Does this newfound free time mean you'd be up for some rocker panel solidification? Lol. 

 

Yeah, it's common.  No idea what he meant by dual ticketed, could be anything, since there's basically 5 licenses, unless he was an American.  Many of my friends have jumped ship over the years in search of more stable work or better conditions, of course a few of them have gone back too because the money is a little too good to turn down when it gets really busy, but overall most guys don't do it that long because it is so unstable.

 

And maybe?  I've got a ton of stuff lined up that I need to do around here but you never know.

 

53 minutes ago, HOrnbrod said:

That sucks Dirty. How long have you worked for this outfit? What are chances of a job with another company? Will a skill set like you have I would think you would be in high demand.

 

Just over a year with these guys, I'd finally got fed up with the people I was with before (was there almost 6 years).  There's going to be a big shock while this gets worked out, since they're one of the largest helicopter companies in Canada.  I'm not looking to go back to work tomorrow, since I actually do want to take a break for a bit, but the problem is likely everywhere else will be flooded with applications for a while.  However, this company actually was profitable other than they had a bunch of debt left over from 2008/2009 when they really screwed up, they finally just admitted that rolling loans over at unfavourable interest rates wasn't really working, the payments were too much to ever really get ahead on them; so with that in mind there is a good chance that the machines will be bought up or leased to other companies and they will need people.

 

2 hours ago, Pete M said:

 

that sounds like an excellent time for a vacation.    

 

Yup.  Might as well.

[Keyav8r]

Sounds like management may have made the right decision in closing down before the employees got screwed over.  That rarely happens.  They usually cash everything out and leave the folks doing the work holding the dirty end of the stick.

 

Enjoy Maui (we did) and good luck on the job hunt when you get ready to look.