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WorldTraveler said:I know you UA folks get real touchy about any criticism, but I might point out that UA's exit financing is all debt. No one was willing to put up equity in the company or at least UA decided they would rather have debt than equity. Not sure what the total amount of debt that UA is replacing but UA only had about $700M of unsecured debt going into bankruptcy. Even considering the reductions in pension liabilities (remember UA didn't walk free from those obligations since they issued the PBGC debt for about 15% of their obligations) and aircraft leases, UA's balance sheet is not going to be as light as so many here have predicted.
Sorry to rain on the parade but someone has to be the guardian of truth.
[post="309619"][/post]
WorldTraveler said:I know you UA folks get real touchy about any criticism, but I might point out that UA's exit financing is all debt. No one was willing to put up equity in the company or at least UA decided they would rather have debt than equity. Not sure what the total amount of debt that UA is replacing but UA only had about $700M of unsecured debt going into bankruptcy. Even considering the reductions in pension liabilities (remember UA didn't walk free from those obligations since they issued the PBGC debt for about 15% of their obligations) and aircraft leases, UA's balance sheet is not going to be as light as so many here have predicted.
Sorry to rain on the parade but someone has to be the guardian of truth.
[post="309619"][/post]
Albatroz said:Can any expert explain?
[post="309639"][/post]
Fly said:Community college doesn't count.
[post="309525"][/post]
WorldTraveler said:I know you UA folks get real touchy about any criticism, but I might point out that UA's exit financing is all debt. No one was willing to put up equity in the company or at least UA decided they would rather have debt than equity. Not sure what the total amount of debt that UA is replacing but UA only had about $700M of unsecured debt going into bankruptcy. Even considering the reductions in pension liabilities (remember UA didn't walk free from those obligations since they issued the PBGC debt for about 15% of their obligations) and aircraft leases, UA's balance sheet is not going to be as light as so many here have predicted.
Sorry to rain on the parade but someone has to be the guardian of truth.
[post="309619"][/post]
With all due respect, you don't have any idea what my credentials are. You might be surprised with the credentials I have if you knew.
WorldTraveler said:- UA simply is not removing significant amounts of debt from its balance sheet other than via pension liabilities.
[post="309791"][/post]