DC9 CAPT HAD HIS FLT TIME ADJUSTED BY THE COMPANY TO MAKE HIM LEGAL TO FLY THE TRIP SEQUENCE.

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I WAS SCHEDULED TO FLY 4 FLTS TOTALING 7 HRS 38 MINS BTWN REST PERIODS. ON SECOND FLT; WE HAD AN ATC HOLDING DELAY THAT WAS GOING TO MAKE US OVER 8 HRS OF FLT TIME FOR THE DAY. TO VERIFY MY LEGALITY; I CHKED ON THE HISTORIC FLT TIMES FOR MY REMAINING FLTS; AND DISCOVERED THAT THE COMPANY HAD REDUCED THE SCHEDULED TIMES ON THE PREVIOUS DAY. ON MAY/XA/00; MY SCHEDULE WOULD HAVE BEEN 8 HRS 26 MINS -- AN ILLEGAL SCHEDULE. I NOW HAD TO DECIDE WHETHER I WAS LEGAL TO CONTINUE FLYING. BY FAR 121; TO EXCEED 8 HRS WITHOUT REST; IT HAD TO BE DUE TO CIRCUMSTANCES BEYOND THE COMPANY'S CTL (ATC DELAY QUALIFIES); AND THE SCHEDULE HAD TO 'NORMALLY BE EXPECTED TO COMPLETE WITHIN THE LIMITATIONS.' I COULD NOT DETERMINE A BASIS FOR THE ARBITRARY REDUCTION IN FLT TIME SCHEDULED; AND CONCLUDED THAT I DID NOT MEET THE SECOND CRITERIA. I THEN DISCUSSED THE MATTER WITH A FLT LEADER; THE ASSISTANT CHIEF PLT AND FINALLY THE SENIOR VICE PRESIDENT OF FLT OPS. THEY ASSURED ME THAT THE NEW SCHEDULED TIMES WERE LEGITIMATE; SO I ACCEPTED THE TRIP. HOWEVER; IN FLYING THE TRIP; MY ACTUAL TIMES WITH NO FURTHER DELAYS WERE MUCH CLOSER TO THE OLD SCHEDULE; AND EXCEEDED 8 HRS SIGNIFICANTLY. THUS; I BELIEVE THAT MY COMPANY GAVE ME AN ILLEGAL SCHEDULE; AND I LET THEM TALK ME INTO FLY IT. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: PLT RPTS THE COMPANY IS NOW USING A REALISTIC SCHEDULE TIME. THE FAA HAD EXPRESSED A CONCERN THAT THE RECORDS REFERRED TO WERE UNREALISTIC. BECAUSE OF PLT COMPLAINTS THE COMPANY HAS STOPPED REVISING CREW SCHEDULES.