My unofficial take on the situation is that the Company cannot survive without the ASTB loan. The loan is needed so that U can reconfigure its self. So without the loan it cancels out U's business plan. Since the Company is bankrupt, meaning expenses/debt are greater than assets, and they cannot continue to operate with out the funds. The creditors will then demand payment from the court. What assets are left are then sold to pay the creditors off.
How long can they continue to operate without the money. Picture if you can that the Company is currently on life support right now, how long can it contine to breathe if it is taken off of the machine. It could be an overnight shut down or it could linger a couple of weeks if there is anyone willing to buy U as an enity. Like the TWA deal. Since the economy sucks and all the other airlines (except Southwest) really aren't in a positon to buy U, I suspect the assets will just be sold off. My best guess is if it all falls apart, I predict September 30th is the date that one can expect the lights to be turned off.
Midway shut down overnight and Consolidated Freightways just filed Chapter 11, but laid off all its employees. I dont' think U will hang on for much longer. The creditors want their money and although they are giving U some time right now to work things out...time is slowly running out. It becomes less important what management Dave thinks he can do, but what the creditors want. And the employees are no longer in the equation, as we had our shot. I believe that September 26 is the magic day for those on the outside to start offering money for our assets (and employees are usually not part of the deal).
The USAirways is currently running on life support. Unless it gets a transplant (Money), it will soon cease to exist. Simple and very painful for all.[img src='http://www.usaviation.com/idealbb/images/smilies/8.gif'] [img src='http://www.usaviation.com/idealbb/images/smilies/8.gif'] [img src='http://www.usaviation.com/idealbb/images/smilies/8.gif'] [img src='http://www.usaviation.com/idealbb/images/smilies/8.gif'] [img src='http://www.usaviation.com/idealbb/images/smilies/8.gif'] [img src='http://www.usaviation.com/idealbb/images/smilies/8.gif'] [img src='http://www.usaviation.com/idealbb/images/smilies/8.gif']