AWA was close to Bankruptcy

[skyflyr69]

So, it comes out today FINALLY that AWA had a plan to file bankruptcy if the investors didn't put the 2 airlines together.
It's called Zanzabar.

 

[as the prop turns]

We on the east have been telling the west that for a year and a half, but they wouldn't believe us....the cat is finally out of the bag!

 

[BuffaloJoe]

We on the east have been telling the west that for a year and a half, but they wouldn't believe us....the cat is finally out of the bag!

Just like their leader DoUgIe, Its called Denial!

 

[AWA320]

We on the east have been telling the west that for a year and a half, but they wouldn't believe us....the cat is finally out of the bag!

What Cat?? Because you merger atty tells some tale of a zanzibar project?? Sounds more like a movie to me than a real deal! Maybe we can have Steven Speilberg direct the movie.

This is the biggest joke of the day, Fat lady singing boys and girls...

 

[CactusFlyr]

Can you post a copy of Zanzibar, I would love to see it.

 

[phlus2]

So, it comes out today FINALLY that AWA had a plan to file bankruptcy if the investors didn't put the 2 airlines together.
It's called Zanzabar.

And this is a surprise to anyone?

 

[beachboy]

And this is a surprise to anyone?

To the AW coolaid drinkers YES.

 

[phlus2]

To the AW coolaid drinkers YES.

Must be some great kool aid!

 

[algflyr]

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 Zanzibarâ€￾ for AW in 2005 and that the legal
papers for a Chapter 11 filing had been prepared and a plan developed for AW’s bankruptcy in
the event that the merger failed to come to fruition. Project Zanzibar was AW’s 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 carrier’s 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.

 

[PBI2FLL]

Just like their leader DoUgIe, Its called Denial!

Doug has never denied that HP was getting ready to file bankruptcy had this merger not taken place in September '05. AS a matter of fact, he has always been very candid about it. He also mentioned that US Airways as it existed then, would have certainly liquidated.

 

[A320Driver]

Must be some great kool aid!

Now just be sure that your attorney presents this fact during the arbitration hearings. Didn't matter then, doesn't matter now. I like the kool aid on the East that thinks they wouldn't have filed Chapter 7 in October 2005. That, in fact, there was a secret white knight. I'm sure it would've happened.
Heck, not only was AWA close to BK, we were in it!1991-1993. And very close to it in 2001. And, according to the big Z document, close in 2005. Close is a subjective word. How close? probably the document doesn't say. They had a plan though, by gum, a plan. Certainly having a plan, doesn't mean certainly filing for BK. But, I grant you, (and this came from DP) had things not turned around in the industry, and pricing power hadn't improved, and if fuel prices had gone much higher, and we hadn't been able to line up additional financing,and if we couldn't get concessions from our employees, then we would've had to file BK (ch11). For Sure!

But hey, if it makes you feel better, AWA was certainly not in the position to buy USAir. They needed outside money to pull that off. And, AWA certainly was no Southwest. They had no good long term business plan. It wouldn't have lasted forever by itself either.

Ugly married Ugly (pretty much shotgun style)

 

[ussnark]

Just so that everyone is on the right page AW was doomed to fall off the map. Why would anyone with so much as a brain not think otherwise. Great show of support this is truly a changing world and maybe we as pilots are finally catching on.

 

[A320Driver]

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 Zanzibarâ€￾ for AW in 2005 and that the legal
papers for a Chapter 11 filing had been prepared and a plan developed for AW’s bankruptcy in
the event that the merger failed to come to fruition. Project Zanzibar was AW’s 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.

wow. perhaps never to emerge. That sounds iron clad!
almost binding!

In light of this new disclosure from the carrier’s 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.

Then the entire case must be retried!!! Or else I will throw another tantrum and keep holding my breath!

 

[CactusFlyr]

So AWA was doomed, but you guys had it wired, huh?

 

[CaptainZitface]

Wow, almost two years after the merger was announced, Scott Kirby happens to mention "Zanzibar". Not only that, he mentions it for the first time on the day that he presents his insulting"cost-neutral" pay proposal to the JNC, only 5 days after the seniority arbitration award.

An honest, upstanding, selfless citizen like Kirby couldn't possibly have any alterior motives for doing so, would he?

Oh wait....divide and conquer.....page 5 in Tsin Tsu's "Art of War", page 37 in Machiavelli's "The Prince"

Almost 2 milleniums old and it still works.