Dayton Rumor
- Thread starter repeet
- Start date
It says the Dayton based carrier is closing crew and maintenance bases in PIT and CAK. It caught me off guard, at first, as well..........
You know, just speculation,
But closing unwanted bases, and shedding unwanted aircraft...
Added to the strange item in the last management proposal that would deny "mainline" recall rights (be taken off the APL) to any Pilot trained at MidAtlantic, that then leaves for another job (ie jetBlue)... But only at MidAtlantic, and not at PSA (nor any other outside JFJ comapnies)... :unsure:
And then the proposal to allow LOA 91 provisons to extend to 90 seat aircraft such as the EMB-190, and the CRJ-900 (allowing them in house or off)...
Then the Do-328 Turboprops are going to be parked for good in early Sep...
Would not be surprised at a possible asset sale of PSA coming up to raise some cash (25%), and pay off debt with the remainder to buy some additional breathing room.(other 75%).
Without the unwanted bases and planes, it is a perfect fit for Mesa Air Group to pick up additional flying in the 70/90 seat range.
Just speculation on my part, but it seems strange that they would make allowences for MidAtlantic while ignoring attrition at PSA...
But closing unwanted bases, and shedding unwanted aircraft...
Added to the strange item in the last management proposal that would deny "mainline" recall rights (be taken off the APL) to any Pilot trained at MidAtlantic, that then leaves for another job (ie jetBlue)... But only at MidAtlantic, and not at PSA (nor any other outside JFJ comapnies)... :unsure:
And then the proposal to allow LOA 91 provisons to extend to 90 seat aircraft such as the EMB-190, and the CRJ-900 (allowing them in house or off)...
Then the Do-328 Turboprops are going to be parked for good in early Sep...
Would not be surprised at a possible asset sale of PSA coming up to raise some cash (25%), and pay off debt with the remainder to buy some additional breathing room.(other 75%).
Without the unwanted bases and planes, it is a perfect fit for Mesa Air Group to pick up additional flying in the 70/90 seat range.
Just speculation on my part, but it seems strange that they would make allowences for MidAtlantic while ignoring attrition at PSA...
BoeingBoy
Veteran
- Nov 9, 2003
- 16,512
- 5,865
Rico,
I won't disagree with you. Paying down the ATSB loan with the proceeds of asset sales could be a way to get them to go along with another BK.
But we gave up the right to keep 25% of the proceeds the last time we needed something from the ATSB (July 12, I think).
Jim
I won't disagree with you. Paying down the ATSB loan with the proceeds of asset sales could be a way to get them to go along with another BK.
But we gave up the right to keep 25% of the proceeds the last time we needed something from the ATSB (July 12, I think).
Jim
Well, that being the case...
It is not that the company does not need cash (they do), rather they really need flexibility around the strict covenants with the ATSB. Applying proceeds from an asset sale directly towards our our balance might buy that needed time/breathing room.
I would not discount the additional possibility of Piedmont, and even Midatlantic also being on the block. Piedmont's aircraft and flying would again be a good match into Mesa Air Group. (esp with the new found interest in Florida).
Not so sure about MDA though, it seems to be the least likely of the three possible asset sales, as MDA serves as a bargaining tool/form of leverage with mainline labor where PSA and PDT do not. And MDA is still directly part of the Mainline, without a separate certificate at the moment (while PSA and PDT are turnkey and ready fit operations). There is no doubt that MDA could be spun off and sold as well, and it might very well be, but IMHO it is the least likely of the three to do so.
But back to PSA, it does seem to be a much more attractive item to sell now that the 328's are about gone, and the bases/mnx are consolidated. PDT as well has been completing the consolidation of ALG, recently closing some bases, and parking unwanted aircraft..., so it too has become a much more attractive asset for sale.
Like I said, just speculation
It is not that the company does not need cash (they do), rather they really need flexibility around the strict covenants with the ATSB. Applying proceeds from an asset sale directly towards our our balance might buy that needed time/breathing room.
I would not discount the additional possibility of Piedmont, and even Midatlantic also being on the block. Piedmont's aircraft and flying would again be a good match into Mesa Air Group. (esp with the new found interest in Florida).
Not so sure about MDA though, it seems to be the least likely of the three possible asset sales, as MDA serves as a bargaining tool/form of leverage with mainline labor where PSA and PDT do not. And MDA is still directly part of the Mainline, without a separate certificate at the moment (while PSA and PDT are turnkey and ready fit operations). There is no doubt that MDA could be spun off and sold as well, and it might very well be, but IMHO it is the least likely of the three to do so.
But back to PSA, it does seem to be a much more attractive item to sell now that the 328's are about gone, and the bases/mnx are consolidated. PDT as well has been completing the consolidation of ALG, recently closing some bases, and parking unwanted aircraft..., so it too has become a much more attractive asset for sale.
Like I said, just speculation
hehe, you got that right,
But unlike fantasy football, or discussion forums on some hobby, this all has to do with what we do to make a living... FUN!!!
One good thing, I guess we will find out about this and a lot of other questions in a few weeks time...
Peace B)
But unlike fantasy football, or discussion forums on some hobby, this all has to do with what we do to make a living... FUN!!!
One good thing, I guess we will find out about this and a lot of other questions in a few weeks time...
Peace B)
Phoenix
Veteran
Rico said:
In all my years I have watched employees think that they will know something in a few weeks. Funny thing is that by the time employees find out anything, it is already old news and what they learn don't measure up to a hill of beans.
