CNN reports UA may liquidate when war starts

[retread]

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On 3/19/2003 11:48:33 AM retread wrote:

I give our (AAA) survival about a 50/50 chance. Lets all just hope that we are still around. Prayers to our soilders.

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soldiers.

 

[Bear96]

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I do believe that last sentence said "solid progress in restructuring" .
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Fly, you cut and pasted a UAL press release. How else do you think they would describe their own restructuring?

 

[Busdrvr]

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On 3/20/2003 12:05:46 PM Cosmo wrote:

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On 3/20/2003 11:46:16 AM Busdrvr wrote:

Laws were changed after EAL''s first brush with BK.
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Minor correction to a detail, not the main point. The laws were changed after Continental''s first bankruptcy experience (in 1983, IIRC), not Eastern''s.

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Noted, thanks for the clarification

 

[Borescope]

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On 3/20/2003 1:16:37 PM Fly wrote:



Since filing for Chapter 11 protection on December 9, 2002, United has made solid progress in restructuring its business, achieving several significant milestones including:

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I do believe that last sentence said "solid progress in restructuring" .
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I miss read you post. I thought you mean the DIP financing had been restructured. They can still pull the plug and if we don''t go along with the program and they see that the company isn''t going to meet the loan covenants thay may just do that. I say the management has screwed up enough, so full pay to the last day.

 

[PITbull]

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On 3/19/2003 12:51:04 PM Bear96 wrote:

Fliboi,

Speculating about the future is fine.

Chip on the other hand presented his speculations as fact; a done deal; based on secret inside information that he couldn''t share with the rest of us schlumps.

In any case they are two different discussions. This thread is about U taking over some of UA''s routes and assets and independently operating what are parts of the UA system today, with UAL Corp. totally out of the picture. Chip''s "unique / interesting corporate transaction" threads had to do with a combined US/UA corporate entity of some sort, with some sort of continued existence of UAL Corp. in some form or another.

And to those who are wondering, as a UA employee, it doesn''t really bother me to see people speculating about picking over our carcass. Hey, it''s just a job, and a company; life will go on whatever happens, so have at it.

However it does amuse me that the U people were so sensitive about it not too long ago and seem to have forgotten that. Also I don''t seem to recall too many UA people speculating all that much about taking over U''s world a few months ago when the respecitve roles of the airlines were relatively different-- certainly not to the degree that I see U folks doing it now over the past couple of weeks.

And though I think UA will not survive the war and its aftermath, I am not too sure U will either. So it seems a bit premature and optimistic to talk about U setting up their own NRT hub (and have you taken a look at the Japanese economy and stock market lately?).

But, good luck to us all!

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UAL and U will all be here next year...same time, same station, and the only difference between now and then is Labor will show proof positve that they are much poorer than today.

Just watch.

 

[Busdrvr]

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On 3/20/2003 6:29:27 PM PITbull wrote:

UAL and U will all be here next year...same time, same station, and the only difference between now and then is Labor will show proof positve that they are much poorer than today.

Just watch.




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I think you are right. Ole Jim bob Higgins from CS now says that AMR has three months and CAL has 4 months until "liquidity issues" unless something happens. to all those TX conspiracy theorist, do you really think GWB will let BOTH TX hub airlines go BK? Any "package" would likely include a nice little cash grant that would vastly improve the cash balances at U and UAL and/or lower/subsidized fuel cost whic would also benefit the least hedged airlines (UAL, U).

 

[Busdrvr]

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On 3/20/2003 11:42:58 PM FA Mikey wrote:

I doubt you will see anything from the White house until AA has the employee concessions in hand. Negotiations should be through in 1 or two more weeks.

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I don''t know Mike, I''ve seen a lot of outright (justified) anger on the part of the AMR pilots. The level of requested concessions is unbelievable, especially considering they never got a raise and are sitting on an open contract. I think the union will play ball, but that timetable is pretty darn optimistic.

 

[FA Mikey]

I doubt you will see anything from the White house until AA has the employee concessions in hand. Negotiations should be through in 1 or two more weeks.

 

[smfav8r]

AMR pilots are not justified in any anger....what comes around goes around...and the gave the TWA pilots the short end of the stick in my book!
Hate to be negative, but as a furloughed U pilot...the AMR pilots need to a good look around and get out of the fantasy world they live in!