2015 Pilot Discussion.
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luvthe9
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CactusPilot1 said:
America West Airlines Inc. 10-Q 06/30/05 restrict our ability to take certain other actions, including mergers and acquisitions, investments and asset sales.
http://www.secinfo.com
America West Airlines Inc. 10-Q 06/30/05
Our obligations also impair our ability to obtain additional financing, if needed, and our flexibility in the conduct of our business. Our existing indebtedness is secured by substantially all of our assets, leaving us with limited collateral for additional financing. Moreover, the terms of the government guaranteed loan restrict our ability to incur additional indebtedness or issue equity unless we use the proceeds of those transactions to repay the loan, require prepayment if our employee compensation costs exceed a certain threshold, require us to maintain a minimum cash balance of $100 million, and restrict our ability to take certain other actions, including mergers and acquisitions, investments and asset sales.
luvthe9
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"AWA, on the other hand, wont likely have the cash to buy assets"
"For example, if an airline were to go under, its assets (aircraft, gates, slots, etc.) would likely go up for sale. America West competitors with stronger cash positions could buy those assets. AWA, on the other hand, wont likely have the cash to buy assets. That means other airlines could get stronger, while America West would retain the status quo, and in that world, the status quo wont guarantee stability or success."
America West Airlines Inc, et al. · 10-K · For 12/31/04
Filed On 3/14/05 9:54pm ET · SEC Files 0-12337, 1-12649 · Accession Number 950153-5-517
In spite of our diligent work to contain our costs, we believe revenues will continue to reflect the excess capacity that exists across the domestic system and fuel prices will remain at, or exceed, record highs. Given these conditions, we anticipate significant losses for full year 2005.
Project Zanzibar
"At the May 9 session of the Joint Negotiating Committee, Scott Kirby, President of the Company, revealed to the assembled representatives of both pilot groups and ALPA National that he had headed a project code-named Project Zanzibar for AW in 2005 and that the legal papers for a Chapter 11 filing had been prepared and a plan developed for AWs bankruptcy in the event that the merger failed to come to fruition. Project Zanzibar was AWs only Plan B. It is now beyond dispute that the junior AW pilot, Dave Odell, and 300-400 other AW F/Os hired in 2002-05 would have been furloughed absent the US merger, as AW went into Chapter 11, perhaps never to emerge. In light of this new disclosure from the carriers President, there is clearly no support for the explicit premise of the Nicolau Award that these AW pilots had more job security and better promotional prospects than US pilots hired in 1988, including hundreds who had never been furloughed for a single day."
Just be glad your here now, remember we saved Dave and you!
"For example, if an airline were to go under, its assets (aircraft, gates, slots, etc.) would likely go up for sale. America West competitors with stronger cash positions could buy those assets. AWA, on the other hand, wont likely have the cash to buy assets. That means other airlines could get stronger, while America West would retain the status quo, and in that world, the status quo wont guarantee stability or success."
America West Airlines Inc, et al. · 10-K · For 12/31/04
Filed On 3/14/05 9:54pm ET · SEC Files 0-12337, 1-12649 · Accession Number 950153-5-517
In spite of our diligent work to contain our costs, we believe revenues will continue to reflect the excess capacity that exists across the domestic system and fuel prices will remain at, or exceed, record highs. Given these conditions, we anticipate significant losses for full year 2005.
Project Zanzibar
"At the May 9 session of the Joint Negotiating Committee, Scott Kirby, President of the Company, revealed to the assembled representatives of both pilot groups and ALPA National that he had headed a project code-named Project Zanzibar for AW in 2005 and that the legal papers for a Chapter 11 filing had been prepared and a plan developed for AWs bankruptcy in the event that the merger failed to come to fruition. Project Zanzibar was AWs only Plan B. It is now beyond dispute that the junior AW pilot, Dave Odell, and 300-400 other AW F/Os hired in 2002-05 would have been furloughed absent the US merger, as AW went into Chapter 11, perhaps never to emerge. In light of this new disclosure from the carriers President, there is clearly no support for the explicit premise of the Nicolau Award that these AW pilots had more job security and better promotional prospects than US pilots hired in 1988, including hundreds who had never been furloughed for a single day."
Just be glad your here now, remember we saved Dave and you!
snapthis
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America West Holdings Corporation was an Arizona-based company whose primary holding was America West Airlines. On May 19, 2005, America West Holdings Corporation announced it would acquire the Arlington, Virginia-based US Airways Group.
The merged company adopted the more well-known US Airways Group name and was based in America West's former corporate offices in Tempe. US Airways Group corporate offices in Arlington were closed, and most US Airways management were laid off. America West CEO Doug Parker became CEO of the merged company. The merger was completed on September 27, 2005. A merger of the two airlines' FAA operating certificates occurred on September 25, 2007 (the US Airways certificate survived), ending the 24-year history of the America West Airlines name.
Don't let the facts confuse you, Luv.
The merged company adopted the more well-known US Airways Group name and was based in America West's former corporate offices in Tempe. US Airways Group corporate offices in Arlington were closed, and most US Airways management were laid off. America West CEO Doug Parker became CEO of the merged company. The merger was completed on September 27, 2005. A merger of the two airlines' FAA operating certificates occurred on September 25, 2007 (the US Airways certificate survived), ending the 24-year history of the America West Airlines name.
Don't let the facts confuse you, Luv.
luvthe9
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark one)þ
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
or
o
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
US Airways Group, Inc.
(Exact name of registrant as specified in its charter)
(Commission File No. 1-8444)
54-1194634 (IRS Employer Identification No.)
54-1194634 (IRS Employer Identification No.)
111 West Rio Salado Parkway, Tempe, Arizona 85281
(Address of principal executive offices, including zip code)
(Address of principal executive offices, including zip code)
US Airways, Inc.
(Exact name of registrant as specified in its charter)
(Commission File No. 1-8442)
53-0218143 (IRS Employer Identification No.)
53-0218143 (IRS Employer Identification No.)
111 West Rio Salado Parkway, Tempe, Arizona 85281
(Address of principal executive offices, including zip code)
(Address of principal executive offices, including zip code)
On September 26, 2007, as part of the integration efforts following the merger of US Airways Group and America West Holdings Corporation (“America West Holdings”) in September 2005, America West Airlines, Inc. (“AWA”) surrendered its Federal Aviation Administration (“FAA”) operating certificate. As a result, all mainline airline operations are now being conducted under US Airways’ FAA operating certificate. In connection with the combination of all mainline airline operations under one FAA operating certificate, US Airways Group contributed one hundred percent of its equity interest in America West Holdings to US Airways. As a result, America West Holdings and its wholly owned subsidiary AWA are now wholly owned subsidiaries of US Airways. In addition, AWA transferred substantially all of its assets and liabilities to US Airways. All off-balance sheet commitments of AWA were also transferred to US Airways. This transaction constituted a transfer of assets between entities under common control and was accounted for at historical cost.
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snapthis
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luvthe9 said:
UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-Q(Mark one)
þ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the quarterly period ended March 31, 2008
oro Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the transition period from to
US Airways Group, Inc.(Exact name of registrant as specified in its charter)(Commission File No. 1-8444)
54-1194634 (IRS Employer Identification No.)111 West Rio Salado Parkway, Tempe, Arizona 85281
(Address of principal executive offices, including zip code)US Airways, Inc.(Exact name of registrant as specified in its charter)(Commission File No. 1-8442)
53-0218143 (IRS Employer Identification No.)
111 West Rio Salado Parkway, Tempe, Arizona 85281
(Address of principal executive offices, including zip code)
On September 26, 2007, as part of the integration efforts following the merger of US Airways Group and America West Holdings Corporation (“America West Holdings”) in September 2005, America West Airlines, Inc. (“AWA”) surrendered its Federal Aviation Administration (“FAA”) operating certificate. As a result, all mainline airline operations are now being conducted under US Airways’ FAA operating certificate. In connection with the combination of all mainline airline operations under one FAA operating certificate, US Airways Group contributed one hundred percent of its equity interest in America West Holdings to US Airways. As a result, America West Holdings and its wholly owned subsidiary AWA are now wholly owned subsidiaries of US Airways. In addition, AWA transferred substantially all of its assets and liabilities to US Airways. All off-balance sheet commitments of AWA were also transferred to US Airways. This transaction constituted a transfer of assets between entities under common control and was accounted for at historical cost.
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Sept 26, 2007 does not change facts concerning the acquisition in 2005.
UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS
US Airways Group, Inc. (“US Airways Group”) is accounting for the merger, which occurred on September 27, 2005, as a “reverse acquisition” using the purchase method of accounting in conformity with accounting principles generally accepted in the United States of America. Although the merger was structured such that America West Holdings Corporation (“America West Holdings”) became our wholly owned subsidiary at closing, America West Holdings is treated as the acquiring company for accounting purposes under SFAS No. 141, “Business Combinations” due to the following factors: (1) America West Holdings’ stockholders received the largest share of US Airways Group’s common stock in the merger in comparison to the unsecured creditors of US Airways Group; (2) America West Holdings received a larger number of designees to the board of directors; and (3) America West Holdings’ Chairman and Chief Executive Officer prior to the merger became the Chairman and Chief Executive Officer of the combined company. The following unaudited pro forma condensed combined statements of operations for the year ended December 31, 2004 and nine months ended September 30, 2005 are based on the historical consolidated financial statements of US Airways Group and on the historical consolidated financial statements of America West Holdings, included in US Airways Group’s and America West Holdings’ respective Annual Reports on Form 10-K for the year ended December 31, 2004 and US Airways Group’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2005, giving effect to the merger and other transactions that were effective upon completion of the merger.
luvthe9
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"AWA’s Results of Operations / In 2004, AWA realized operating losses of $16 million ...In 2005, AWA realized operating losses of $120 million ...In 2006, AWA realized operating losses of $35 million [1 Attachment]"
AWA’s Results of Operations
In 2006, AWA realized operating losses of $35 million and a loss before income taxes and cumulative effect of change in accounting principle of $33 million.
In 2005, AWA realized operating losses of $120 million and a loss before income taxes and cumulative effect of change in accounting principle of $195 million.
In 2004, AWA realized operating losses of $16 million and a loss before income taxes and cumulative effect of change in accounting principle of $85 million.
America West Airlines Inc, et al. · 10-K · For 12/31/06
Filed On 2/27/07 9:54pm ET · SEC Files 0-12337, 1-08442, 1-08444 · Accession Number 950153-7-433
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As Of Filer Filing As/For/On Docs😛gs Issuer Agent
2/28/07 America West Airlines Inc 10-K 12/31/06 13:468 Bowne of Phoenix Inc/FA
US Airways Inc
US Airways Group Inc
http://www.secinfo.com/dsVs6.uDu.htm#_tocpage
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AWA’s Results of Operations
In 2006, AWA realized operating losses of $35 million and a loss before income taxes and cumulative effect of change in accounting principle of $33 million.
In 2005, AWA realized operating losses of $120 million and a loss before income taxes and cumulative effect of change in accounting principle of $195 million.
In 2004, AWA realized operating losses of $16 million and a loss before income taxes and cumulative effect of change in accounting principle of $85 million.
America West Airlines Inc, et al. · 10-K · For 12/31/06
Filed On 2/27/07 9:54pm ET · SEC Files 0-12337, 1-08442, 1-08444 · Accession Number 950153-7-433
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As Of Filer Filing As/For/On Docs😛gs Issuer Agent
2/28/07 America West Airlines Inc 10-K 12/31/06 13:468 Bowne of Phoenix Inc/FA
US Airways Inc
US Airways Group Inc
http://www.secinfo.com/dsVs6.uDu.htm#_tocpage
Your a lucky boy to be here now.
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