US Air Says Delay Risks Credit Card Deal

[PITbull]

They should have thought more responsibly when they allowed that $35 million to be given to these execs.
In their arrogance, they thought we would just quietly give in and not disturb any of their ruffles. They assumed since the pilots caved in so readily in their negotiations that in the end, they would cave-in on the pension issue as well. They over estimated themselves and their ability to "pounce labor to the ground".

"Those who control the thruttles, control the airline".
ALPA has just successfully exposed this mangement in court, and we will now see what this mangement team is made of.

I'm going to bed.

 

[chipmunn]

US Airways credit card processor, NPC of Cleveland, notified the airline pre-petition of its intent to permanently exit the business.

There are six credit card processors of which two perform high volume, low yield airline work. US Airways has held conversations with all six companies, but none of these business entities will sign an agreement with the Arlington-based airline until the carrier emerges from bankruptcy.

The NPC - US Airways processing agreement expires on March 31; however, the airline has an additional 45 days or until May 15 to find a new processor, during which time NPC will continue to provide this service to the carrier.

NPC is responsible for about 50 percent of the airline's revenue and at today's hearing Neal Cohen said, "If we don't emerge by March 31st the company will not have a credit card processor. If the company has no processor - the company will have to shut down."

Chip

 

[michael707767]

[blockquote]
----------------
On 2/24/2003 544 PM Upsgnr wrote:

Haven't fuel prices risen drastically and aren't they a huge part of the cost structure - You can't blame Dave for the cost of fuel? Who knew it was going to rise by 50%?

----------------
[/blockquote]

Evidently Southwest knew. 80% of their fuel costs for this year are hedged against rising prices.

 

[Upsgnr]

I suspect that USairways, in Chapter 11, would be unable to secure a hedging agreement for fuel.

 

[OldGuyinPA]

Dave Siegel is a winner. So are the rest the group at the Crystal Palace. That's why we're doing so well. What a waste of 27 years......Keep it up gang.

 

[oldiebutgoody]

I've got an idea for the credit card processing dilemma. Maybe Dave can make an arrangement with Paypal.