Is it me or do I smell merger?

gilbertguy

Senior
Aug 29, 2002
368
0
You may not be too far off....talk over at UA side of this website is US planning to sell off assets, including giving our Airbii''s to UA....
 
It seems we have returned to the days of Wolf and gang when these guys had no intention of running an airline. With Dave and company going around putting out fires in Philly and other places, it seems to me no one is taking care of the day to day operations. Our on time depts are down as well as arrivals with in 15.. Our cancels are up all be it a small percentage. We just dont seem to be a class airline with intentions on being the best and growing. We were to be poised after BK to become a lean mean fighting machine. It seems that it is all being squandered. Im assuming were going to wait around till others revamp their finances while we spin in the wind.I have a hunch that Dave has a plan and it doesnt include a bunch of proud employees who want nothing better than to work for a company their proud of.. ARE YOU LISTNING DAVE? Act like you care man ... Wheres that energy you had ?wheresthat im here for the long haul attitude you had when you first arrived. What are you doing up there? Please let us know..... Give us a clue on what you do in a days time.... Tell us again please what the ____ your plan is because we sure have no clue anymore? Were you brought in to break the unions threaten PIT? It doesnt makes sense.. Not one soul on here including me has a clue. We can pretend we do or guess or even have an opinion. In the mean time you have employees (the few that are left) that are tired worn and just plain SICK.....I have a feeling you do have a plan but i think it includes sell and run before its all over with.
 
They are on drugs, UA is parking planes, our Airbii and theirs have differant engines and US has to maintain the fleet at 279, according to Maintenance Records the six airbii returned to Phillip Morris might return to the fleet.

Plus if we are sold the Mechanic and Related Contract snaps back to the preconcession contract and we get all of our givebacks returned.
 
Plus if we are sold the Mechanic and Related Contract snaps back to the preconcession contract and we get all of our givebacks returned.
 
Gilbertguy:

When has an airline in bankruptcy ever bought another company or its assets?
United is having difficulty finding an Equity Plan Sponsor, they have no exit financing, they have not submitted a Plan of Reorganization (POR), they violated the 180-day court POR submission requirement and had to seek an extension), their pensions are underfunded by a whopping $7.5 billion, the Bush Administration is fighting pension legislative relief, and their business plan is generic and some observers believe it has more wholes in it than a piece of Swiss cheese.
Moreover, reports indicate their emergence is dependent upon obtaining a loan guarantee that will be necessary to repay the DIP financing. For example, if the company seeks another loan guarantee for $1.8 billion, they must repay up to $1.5 billion in DIP financing, leaving just $300 million in secured loan guarantee funds.
United is still likely losing money and September bookings are weak, according to the ATA, for the entire industry due post Labor Day seasonal travel decline and passenger fear associated with the September 11 anniversary. In October, United must be cash flow positive or it will violate its DIP financing covenants where the lenders could repossess their assets, although that would appear unlikely given the state of the used aircraft market.
US Airways ended the first quarter with $1.86 billion in liquidity and received a $216 million one-time federal bailout on May 16, which increased liquidity to $2.076 billion +/- the Q2 earnings, therefore, US Airways is hardly in a cash crisis and controls its own destiny versus United, who requires unsecured creditors committee and bankruptcy court approval for any financial transaction.
As N230UA said, "Chip, your writing style, rhetoric, and online persona is being mocked. In fact, 737nCh11 has mimicked your post format to the T," which I believe was 737nCH11's intent versus writing anything of substance.
On another note, I find it interesting that NW filed a shelf registration statement with the SEC for $2.5 billion, which the company said would be used for general corporate purposes.
Best regards,
Chip
 
I bet the ontime performance is down more due to the weather than anything else. Charlotte has been getting pounded with thunderstorms at the airport and in the vicinity for what seems like an eternity. I understand the Northeast has had some weather as well. We are actually ahead of last year''s record pace for 100% completion days. To tell you the truth, I am shocked the stats are not much worse.

As for the UA talk, could this be a tongue in cheek response to someone that regularly posts on both boards?
 
...."Our itinerant management is only using your ''agreement'' as a lolly to pacify the worker bees until it is too late to do anything.".........

Bingo.
 
UA predicts that it will leave BK in Q4 ''03 or Q1 ''04....this is not too far off. Money? UA plans to get that U.S loan and it CAN be used to purchase another carrier. US is destined to be what Dave wants it to be. A regional carrier feeding UA and Star Alliance....
 
Tug slug says>Flynomore,

Keep in mind that the concessions we just gave were done while U was in bankruptcy, beings that's not the case anymore and the fact Dave has proven time and again that he cant be trusted I seriously doubt any of the labor groups are going to want to work with management to help this airline in any way shape or form
 
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On 7/17/2003 1:02:47 PM High Iron wrote:

...."Our itinerant management is only using your ''agreement'' as a lolly to pacify the worker bees until it is too late to do anything.".........

Bingo.

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My conspiracy theory goes a bit further. What with all the union types on the BOD at UA, and all the high-priced legal talent U unions brought in at BK, I don''t believe for a second the union powers that be didn''t know what was coming. They weren''t snookered; they protected their dues structure as best they could. Now they''re blaming a perfidious management, but methinks they doth protest too much.
 
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On 7/17/2003 2:37:46 PM tug_slug wrote:

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On 7/17/2003 12:21:27 PM flynomore wrote:

Plus if we are sold the Mechanic and Related Contract snaps back to the preconcession contract and we get all of our givebacks returned.​
 
Chip,

I wasn''t mocking you. I was serious. Once again, I have nothing to gain by bashing USAirways. I''m simply telling you what I see.

Maybe USAirways won''t sell assets to UAL, but it sure looks like they are becoming Atlantic Coast''s replacement as a UAX feeder.
 
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On 7/17/2003 12:21:27 PM flynomore wrote:

Plus if we are sold the Mechanic and Related Contract snaps back to the preconcession contract and we get all of our givebacks returned.​
 
I would look to the Star Alliance as a US purchaser, but not UA. Now that foreign carriers may own up to 49%, it opens the door to LH, or one of the other alliance carriers. It would be quick and easy for Bonner to drop RSA's piece of US in one transaction.

Recently Virgin Atlantic's Branson announced he wished to get into the US market. He said he wanted to start a low cost carrier from scratch but if the price is right who knows...........

I have been mulling over why we are not selling our brand, my guess is we are changing our brand/name in the near future.
 
Group:

There is more to the rumor that nycbusdriver discussed. A LH investment in a U.S. airline is a possibility, similar in context to the previous BA investment in US.

In regard to UA buying assets or an airline, the company is on life support, never before in the history of aviation has a bankrupt company ever bought assets or a company. For that matter, there have been only three successful in-court restructurings: CO, HP, & US.

UA does not have exit financing, an equity plan sponsor, and must repay up to $1.5 billion in DIP financing, and convince the ATSB it can meet its $7.5 billion underfunded pension. How can they acquire assets or a company with these financial hurdles?

In regard to the thoughts of US becoming a regional airline, the company is implementing significant Caribbean and Latin American expansion from BOS, PHL, PIT, & CLT and added two European seasonal destinations to the network this year. Does this sound like Regional Jet flying?

The business plan calls for using RJs for three purposes: using RJs in long-thin markets, operating these aircraft in markets that do not support a 120-seat aircraft, and replacing turboprops. This should not come as a surprise and will give US a competitive advantage.

Best regards,

Chip