While just about any scenario you could dream up is possible, I don't view a CO purchase of UA as anywhere close to likely happening. I think UA has a better than 50-50 chance of avoiding Ch.11 altogether. Any incentive the remaining unions need to reach deals to avoid bankruptcy should have come when they read about Ornstein, Soros and Davis being interested in bidding for control of UA in a Ch.11 filing. Doesn't take a genius to figure out what would happen then. They would attempt to crack labor in half. So it behooves the AFA, IAM, Dispatchers, and Engineers to quickly reach their restructuring agreements. I believe those T/A's simply have to be reached by about the end of next week at the latest, in order for UA to have a good chance at gaining approval of the ATSB loan guarantee application and avoiding Ch.11.
CO to buy UAL.....its a possibility
- Thread starter UAL777flyer
- Start date
Check out this article from the Chicago Tribune. Looks like there are a few parties interested in UAL if it does go BK...including CO. [BR][BR][A href=http://www.chicagotribune.com/business/chi-0211060309nov06,0,2716586.story?coll=chi%2Dbusiness%2Dhed]http://www.chicagotribune.com/business/chi-0211060309nov06,0,2716586.story?coll=chi%2Dbusiness%2Dhed[/A]
pacemaker,
There is reason to believe that sources close to the CO situation have actually decided to use a third party purchase plan. Herein referred to as the TPP. It will involve a unique corporate transaction that also, according to listening devices implanted at a Federal Courthouse in Virgina, will involve a band of Croatian businessmen and a large ox. The information from high level sources close to the situation say the ox is extremely lactose intolerant and at any moment could spew forth the plan and ruin the secrecy of the whole mess.
From what I have been told it would actually have CO buying UAL with the TPP and then wrapping UAL in a large bow and presenting it to Chip Munn as a Christmas Present. This will allow Chip to spend most of the first part of the year ripping and shredding UAL to pieces as has been his wont for sometime
There is reason to believe that sources close to the CO situation have actually decided to use a third party purchase plan. Herein referred to as the TPP. It will involve a unique corporate transaction that also, according to listening devices implanted at a Federal Courthouse in Virgina, will involve a band of Croatian businessmen and a large ox. The information from high level sources close to the situation say the ox is extremely lactose intolerant and at any moment could spew forth the plan and ruin the secrecy of the whole mess.
From what I have been told it would actually have CO buying UAL with the TPP and then wrapping UAL in a large bow and presenting it to Chip Munn as a Christmas Present. This will allow Chip to spend most of the first part of the year ripping and shredding UAL to pieces as has been his wont for sometime
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There is basically zero chance of CO acquiring any substantial portion of UA's assets either inisde of Chapter 11 or out. Gordon doesn't have the cash on hand, and is obsessed with East Coast expansion anyways.
CO is parking planes, why on earth would it buy all/fraction of UAL. They don't need the people, planes, labor turmoil. Only reason is the gates, but I would just think its easier to pick them up in bankruptcy.
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On 12/4/2002 11:53:33 PM AirwAr wrote:
Does this thread need to be revisted? Is there anyway that CO to partner up with someone with deep pockets to provide DIP for UA?
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Baffoon makes for good TV, but I'd be surprised if any deep pockets had any real respect for him anymore. CAL is leveraged to the hilt, ironically WAY more than UAL, and is only competative because of really low wage rates.
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On 12/4/2002 11:53:33 PM AirwAr wrote:
Does this thread need to be revisted? Is there anyway that CO to partner up with someone with deep pockets to provide DIP for UA?
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Baffoon makes for good TV, but I'd be surprised if any deep pockets had any real respect for him anymore. CAL is leveraged to the hilt, ironically WAY more than UAL, and is only competative because of really low wage rates.
Does this thread need to be revisted? Is there anyway that CO to partner up with someone with deep pockets to provide DIP for UA?
Bare minumum after CH 11 I expect us to add IAH/EWR flights with dirtcheap fares,lets call them Gordos Rant and Rave Fares.
