SO MANY THINGS THAT DO NOT ADD UP
1. LATEST SHUTTLE STATS SHOW GREAT O/T PERFORMANCE. 70.5% LOAD FACTOR VS
54% MAY 2002. WE HAVE OPERATED SEVERAL EXTRA SECTIONS OVER THE LAST
2 WEEKS DUE TO OVERSALES...GREAT STUFF.
MARKETING RESPONSE....JUNE SKD...MIX MAINLINE AND SHUTTLE AIRBUS EQUIP.
ADD SOME MAINLINE 737-300 S , ELIMINATE SHUTTLE SPARES AND LEAVE 1
AIRBUS IN LGA TO SHARE BETWEEN MAINLINE AND SHUTTLE. ELIMINATE ALL...
I REPEAT ALL...STANDBY CREWS. LEAVE THE 5 POINT CUSTOMER GUARANTEES
INTACT.
2. PRESIDENT BUSH SIGNS A LARGE TAX CUT PACKAGE THAT ALMOST ALL ECONOMISTS
AGREE WILL SPUR GREATER BUSINESS ACTIVITY IN THE 2ND HALF OF 2003.
MARKETING RESPONSE....CUT THE SEPTEMBER SCHEDULE BY 5%.
3. COMPANY DEMANDS COST REDUCTIONS AT PIT / PHL THEN 3 DAYS LATER DOUBLES
THE AMOUNT ASKED FOR. WHEN PA. GOV. RENDELL SAYS O.K. IF YOU MOVE
HEADQUATERS TO PA. WE SAY NO CAN DO...MGT CONTRACTS WILL NOT ALLOW A
MOVE GREATER THAN 35 MILES FROM CURRENT LOCATION......3WKS LATER THE
COMPANY THEATENS TO MOVE OUT OF DCA TO SEVERAL LOACATIONS MANY HUNDREDS
OF MILES FROM CURRENT LOCATION.
4. UA CLAIMS, IN STATEMENTS RELATING TO DIP FINANCING, THAT REVENUES HAVE
RETURNED TO PRE IRAQ WAR LEVELS.
U MGT CLAIMS, THROUGH ADVISORY BOARD MTG, NOTHING BUT GLOOM AND DOOM.
HOW CAN BUSINESS TRAVEL REVENUE BE MEASURED WHEN WE INCREASINGLY LEAVE
BUSINESS ROUTES AND INCREASE LEISURE TRAVEL ROUTES.
5. MGT THROUGH ACTIONS AND STATEMENTS APPEARS TO VIOLATE EVERY UNION
CONTRACT ON THE PROPERTY. WHAT IS WORSE IS THAT THEY LEAVE THE
IMPRESSION THAT THEY REALLY DON T CARE.
O.K. THAT S ENOUGH FOR NOW.
CAN ANYONE MAKE SENSE OF THESE ACTIONS. FOR A COMPANY THAT IS LOOKING TO
INITIATE AN I.P.O. YOU WOULD THINK THAT THEY WOULD WANT TO PORTRAY A VERY
DIFFERENT SET OF CIRCUMSTANCES.
DO YOU THINK THEY WILL INCLUDE IN THE PROSPECTUS THE FOLLOWING STATEMENT.
IF WE DON T GET BETTER CO OPERATION FROM THE EMPLOYESS WE WILL GIVE THE
ATSB LOAN MONEY BACK AND LIQUIDATE.
1. LATEST SHUTTLE STATS SHOW GREAT O/T PERFORMANCE. 70.5% LOAD FACTOR VS
54% MAY 2002. WE HAVE OPERATED SEVERAL EXTRA SECTIONS OVER THE LAST
2 WEEKS DUE TO OVERSALES...GREAT STUFF.
MARKETING RESPONSE....JUNE SKD...MIX MAINLINE AND SHUTTLE AIRBUS EQUIP.
ADD SOME MAINLINE 737-300 S , ELIMINATE SHUTTLE SPARES AND LEAVE 1
AIRBUS IN LGA TO SHARE BETWEEN MAINLINE AND SHUTTLE. ELIMINATE ALL...
I REPEAT ALL...STANDBY CREWS. LEAVE THE 5 POINT CUSTOMER GUARANTEES
INTACT.
2. PRESIDENT BUSH SIGNS A LARGE TAX CUT PACKAGE THAT ALMOST ALL ECONOMISTS
AGREE WILL SPUR GREATER BUSINESS ACTIVITY IN THE 2ND HALF OF 2003.
MARKETING RESPONSE....CUT THE SEPTEMBER SCHEDULE BY 5%.
3. COMPANY DEMANDS COST REDUCTIONS AT PIT / PHL THEN 3 DAYS LATER DOUBLES
THE AMOUNT ASKED FOR. WHEN PA. GOV. RENDELL SAYS O.K. IF YOU MOVE
HEADQUATERS TO PA. WE SAY NO CAN DO...MGT CONTRACTS WILL NOT ALLOW A
MOVE GREATER THAN 35 MILES FROM CURRENT LOCATION......3WKS LATER THE
COMPANY THEATENS TO MOVE OUT OF DCA TO SEVERAL LOACATIONS MANY HUNDREDS
OF MILES FROM CURRENT LOCATION.
4. UA CLAIMS, IN STATEMENTS RELATING TO DIP FINANCING, THAT REVENUES HAVE
RETURNED TO PRE IRAQ WAR LEVELS.
U MGT CLAIMS, THROUGH ADVISORY BOARD MTG, NOTHING BUT GLOOM AND DOOM.
HOW CAN BUSINESS TRAVEL REVENUE BE MEASURED WHEN WE INCREASINGLY LEAVE
BUSINESS ROUTES AND INCREASE LEISURE TRAVEL ROUTES.
5. MGT THROUGH ACTIONS AND STATEMENTS APPEARS TO VIOLATE EVERY UNION
CONTRACT ON THE PROPERTY. WHAT IS WORSE IS THAT THEY LEAVE THE
IMPRESSION THAT THEY REALLY DON T CARE.
O.K. THAT S ENOUGH FOR NOW.
CAN ANYONE MAKE SENSE OF THESE ACTIONS. FOR A COMPANY THAT IS LOOKING TO
INITIATE AN I.P.O. YOU WOULD THINK THAT THEY WOULD WANT TO PORTRAY A VERY
DIFFERENT SET OF CIRCUMSTANCES.
DO YOU THINK THEY WILL INCLUDE IN THE PROSPECTUS THE FOLLOWING STATEMENT.
IF WE DON T GET BETTER CO OPERATION FROM THE EMPLOYESS WE WILL GIVE THE
ATSB LOAN MONEY BACK AND LIQUIDATE.
