WorldTraveler
Corn Field
- Dec 5, 2003
- 21,709
- 10,662
- Banned
- #61
if you want to use the word "dump" go ahead.
It is neither accurate nor can you find it in any description of the BK process.
BK (C11) is a restructuring process.
You dump trash or day old coffee - which means you attempt to exchange nothing.
You restructure debt in BK.
And the legacy airlines still have managed to overcome the cost advantage that the low cost carriers enjoyed as a result of paying their employees far less as a result of deregulation - which began in 1978.
If you take pride in the fact that your employees were much lower paid for years and were able to endure the dramatic drops in revenue as a result of 9/11 because of low labor costs, then by all means rub in the fact that you didn't have to declare BK.
In the meantime, WN's cost advantage is quickly disappearing which is why anyone who looks at the industry with any kind of objectivity recognizes that WN is no longer a low fare carrier or has a cost advantage.
Unless AA and DL are low fare carriers relative to UA
BTW, take a look at DOT press releases on the industry and you will see they no longer break out the industry into low fare carriers and legacy carriers because they recognize there is little difference.
It is neither accurate nor can you find it in any description of the BK process.
BK (C11) is a restructuring process.
You dump trash or day old coffee - which means you attempt to exchange nothing.
You restructure debt in BK.
And the legacy airlines still have managed to overcome the cost advantage that the low cost carriers enjoyed as a result of paying their employees far less as a result of deregulation - which began in 1978.
If you take pride in the fact that your employees were much lower paid for years and were able to endure the dramatic drops in revenue as a result of 9/11 because of low labor costs, then by all means rub in the fact that you didn't have to declare BK.
In the meantime, WN's cost advantage is quickly disappearing which is why anyone who looks at the industry with any kind of objectivity recognizes that WN is no longer a low fare carrier or has a cost advantage.
Unless AA and DL are low fare carriers relative to UA
BTW, take a look at DOT press releases on the industry and you will see they no longer break out the industry into low fare carriers and legacy carriers because they recognize there is little difference.