Report Says Sunday Is Bk Filing
- Thread starter 700UW
- Start date
The fact of the matter is that when they file there will be a huge amount of fallout and I would imagine the first to go would be the cleaners and stores personel. It doesn't take a rocket scientist to do either job and they can get it done for much less with others.
28yrsnojob said:i hope tey file by the end of business today
[post="178094"][/post]
http://funwavs.com/wavfile.php?quote=3690&sound=253
- Thread Starter
- #49
US Airways Group Inc.:
-- Faces second trip to bankruptcy court in less than two years, and possible liquidation, if it cannot quickly cut costs by $1.5 billion a year
-- Has laid off more than 18,000 since end of 2001 and achieved more than $1 billion in annual concessions during bankruptcy restructuring in 2002-03
-- In last-ditch talks with labor over proposed $800 million in concessions, including $295 million from pilots
-- In danger of violating terms of government loan package, which requires carrier to have $700 million in cash on hand at the end of each month
-- Faces second trip to bankruptcy court in less than two years, and possible liquidation, if it cannot quickly cut costs by $1.5 billion a year
-- Has laid off more than 18,000 since end of 2001 and achieved more than $1 billion in annual concessions during bankruptcy restructuring in 2002-03
-- In last-ditch talks with labor over proposed $800 million in concessions, including $295 million from pilots
-- In danger of violating terms of government loan package, which requires carrier to have $700 million in cash on hand at the end of each month
Keep dreaming.. this freakin company will never go away. Its like a cockroach, no one can kill it.. it will never die. USAir has been on the ropes for years, and somehow makes it through the worst of it all. I would not give back a dime, because somehow it will still survive anyway. Hell.. I'd ask for big raises and see what happens.
PITbull
Veteran
WorldTraveler said:
World Traveler,
Now here is were we don't agree.
I have been sitting in the front row on the inside of this thing...and I can tell you that the downward spiral of U had more to do with the past managment (Wolf) who took his eye off the ball in 1999 in his attempt to secure a merger with United. Before that, this company had enjoyed prosperity of billions from 1995-end of 1999. Not only that, this airline and this business model has kept U alive for 50 years...its employees and their families. To imply that U's woes have been around for many years is short cited and a "flipped" answer, IMO. This business is cyclic, and is extremely volitle and vulnerable to enconomic conditions.
The reason U and the industry is having such a hard time has more to do with fuel prices and slow job growth, leaving many Americans only able to afford cheap- o- fares. Rest assured, many of the low cost carriers who will run out of their lower fuel cost hedge, will eventually be in this perdicament if fuel does not start to decline.
The U employees are ready to engage negotiations in BK.
Regards,
PITbull
Veteran
MrAeroMan said:
They were getting rid of everyone anyway. Furlough creation was the biggest part of these proposals and that is where most of U's cost savings are. Whether we conceded to this as a union or they take it...the net result is the same...a reduction of 30% across the board.
EyeInTheSky
Veteran
Doc said:
Doc, I've hit the Rolling Rock, what should I move onto next? Jack Daniels on the rocks, to go with the impending doomsday scenerio? Better make that a double...
PITbull said:
Will they use BK II to get rid of key union opposition and strong voices like you? Can union leaders be fired straight out? Are there limits in bankruptcy if the goal is to get rid of unions?
Who will stand up for the rank & file?
Please excuse my ignorance about bankruptcy.
