Us Airways And Atsb Restructure Loan

[USA320Pilot]

D328pilot:

You will not need to.

Regards,

USA320Pilot

 

[USA320Pilot]

By the way...who first said on this message board that US Airways' loan guarantee terms would be renegotiated?

Regards,

USA320Pilot

 

[767jetz]

If the comments are of no value than why waste your time responding?

Because after all the BS you've spread over the years, it's fun to watch you squirm!

 

[AP Tech]

The writing is now on the wall.....which was the last airline to sell assets and still survive, not counting the ones which were required to sell due to anti trust concerns? :down:

I hope the IAM sticks to their word and refuses to meet with the company about further concessions. Its really nice to know some of the monies realized from the last two concessionary contracts went toward the purchase of the new regional jets that soon to be furloughed mechanics and related will not be entitled to work on.....

All I can say is bring on that so called painful clause in the IAM contract we are told about by someone in the know........

 

[USA320Pilot]

767jetz:

Right. Why do you continually post on the US Airways board and not the United board? The United board is dead with little interest. I find it very interesting that you and other United posters have more interest in US Airways than United.

But, maybe I shouldn't.

Let's do a comparison:

United -- rejected by the ATSB. In addition, the company has failed to submit a business plan, a POR, has no exit financing, continues in municipal bond litigation, no pension relief, no specific Dulles RJ aircraft to replace Atlantic Coast and the very real possibility the ATSB will reject the company's new loan guarantee application. Moreover, after all of the cuts the airline burned through $6 million per day in January.

US Airways -- approved by the ATSB. In addition, the company was the second airline to receive ATSB relief, had a 7-month formal reorganization, now has new tentative RJ scope relief that could raise more funds, an equity investor with $25 billion in liquid assets, and a CEO who ways consolidation is inevitable. Moreover, after all of the cuts the airline burned through about $1.6 million per day from January 1 through March 12.

Now there are reports that US Airways could merge with another airline and dump the United and Star alliances, although I believe the Arlington-based company could be involved in a UCT, UCT derivative, or merger and keep its current alliances.

Regards,

USA320Pilot

 

[Bear96]

Bear. This is not fair. The UAL forum is a wasteland. Nobody cares, nobody posts. And yet you continue to post here. Since U is doomed, what is the point...poking them with a stick for fun? I am sure that UAL has a much better chance of exiting BK with no ATSB backup and 6 mil a day loss, as does U out of BK with less than 2 mil a day and breathing room for what...another year? I could care less about either airline..but for gosh sakes, your kettle is a black hole. I demand equal reading on your forum. It is no fun! Get with it!

What's not fair about challenging USAir320Pilot and pointing out his true motives?

And what does the UAL forum being a wasteland have to do with it? Yes the UAL forum is usually pretty dull and there are more interesting conversations going on over here. So I post here, as I am certainly allowed to do as a registered member of the USAviation Forums (as opposed to just being registered to post in the USAviation UAL forum, for example). Why this is so fascinating to USAir320Pilot is beyond me. If anyone here would like to start a forum where just U employees can post, they are certainly free to do that. However this is not such a forum.

With one exception, I certainly do not mean to come across as poking any U employees with a stick for fun. If any another U employee feels I have been doing that, I apologize; please tell me what I wrote that comes across that way and I will try to be more sensitive.

BTW you quoting USAir320Pilot's intentionally misleading numbers are a perfect example of why many UA employees are here disputing him and pointing out the holes in his logic and reasoning. He repeats things often enough and people start to believe them, and often they are just wrong and detrimental to our employer.

 

[Bear96]

US Airways -- approved by the ATSB. In addition, the company was the second airline to receive ATSB relief, had a 7-month formal reorganization, now has new tentative RJ scope relief that could raise more funds, an equity investor with $25 billion in liquid assets, and a CEO who ways consolidation is inevitable. Moreover, after all of the cuts the airline burned through about $1.6 million per day from January 1 through March 12.

So, let me get this straight...

You are saying U's trip through Ch.11 and the performance of the company since emerging has been an unparalleled SUCCESS???

 

[DorkDriver]

In addition, today's ALPA RJ scope agreement resolved PSA CRJ-200 and CRJ-700 issues. There will be more news on this subject next week.

Regards,

USA320Pilot

Its funny how the mainline MEC thinks it can negotiate for a pilot group that it doesn't even represent, or care about. If PSA is sold, spun off, or taken apart you will only be hurting the 120 J4J pilots that have found a decent place to call their "soft landing".

 

[USA320Pilot]

Bear96:

Bear96 asked: "You are saying U's trip through Ch.11 and the performance of the company since emerging has been an unparalleled SUCCESS?"

USA320Pilot comments: Bear, the success was the company made it through bankruptcy, obtained the loan guarantee, and then the airline was able to renegotiate the loan terms with the ATSB. This has bought the company time to deal with the relentless LCC pressure.

US Airways chief financial officer Neal Cohen, who worked directly with the ATSB, said Friday in an interview, "The immediate risk is lessened. But the company has to take actions to implement improvements to the business by midyear in order to lower losses in 2004 and be profitable in 2005."

Can US Airways do it? Absolutely. Will it? I do not know, but it should be interesting to see.

In regard to the United Airlines and US Airways comparison, the purpose of my post was in response to some other United posters who visit the US Airways board and "shoot the messenger". All I did was post facts, which was the intent of my previous post.

Regards,

USA320Pilot

 

[Bear96]

In regard to the United Airlines and US Airways comparison, the purpose of my post was in response to some other United posters who visit the US Airways board and "shoot the messenger". All I did was post facts, which was the intent of my previous post.

Oy, back to the "shoot the messenger" rhetoric.

And you didn't simply "post facts." You posted a few carefully selected numbers comparing different items in a certain way to further your exhausting and plodding agenda.

 

[atlmd80]

The idea that U will only sell "non core assets," like the commuter operations, does not make sense. The amount of cash U can get from those sales is not worth the loss of those assets. How much can one get for a group (like 40) turboprops these days?Lets be generous and say 100mil for Piedmont. That will only add 25mil to U's cash reserve (75% of the sale goes to the ATSB). At the current rate of cash burn that is 2 weeks of life.

I think if You look at this in reverse they can sell up to 500mil of assets. I came up with that number because 25% of 500 million is 125 million. 125 being the max gain U can realize from any asset sales. So one can ask themselves what assets U can sell that will total 500 million?

The really scary thing is how little real benefit U will get from any asset sale. Also scary was the point that if U did not restructure the loan they would have been in default yesterday. Here are some good articles on the loan and U.

NYT:http://www.nytimes.com/2004/03/13/business/13air.html
WasPost:http://www.washingtonpost.com/wp-dyn/articles/A54770-2004Mar12.html

 

[Cosmo]

USA320Pilot:

You know, I was going to rebut in detail most of what you said in this post, but then I decided that you're just not worth that amount of my time. Suffice it to say that when you discuss United, your posts are mostly full of unsubstantiated rumors, innuendo and/or outright falsehoods, as is the case here. And the few facts that actually do make it into your posts are usually taken out of context. So while you may get some perverse pleasure out of posting in this childish manner, be aware that I (and others) will continue to set the record straight by posting facts that you usually ignore. THAT'S why we post on the US Airways board! Indeed, I find it "interesting" that you haven't been able to figure that out yet.

 

[Cosmo]

In regard to the United Airlines and US Airways comparison, the purpose of my post was in response to some other United posters who visit the US Airways board and "shoot the messenger". All I did was post facts, which was the intent of my previous post.

USA320Pilot:

When the messenger lies or obfuscates, he deserves to be "shot" (figuratively speaking only, no actual violence is implied or intended )! And as to facts (at least regarding United), for the most part you wouldn't know a fact if it slapped you in the face!

 

[NeedForSpeedNFS]

Here's the kicker statement ladies and gentlemen:

"The company and the ATSB also agreed to modify other terms and provisions, including lifting certain restrictions on the company's ability to pursue asset sales."

THANK YOU, This is what i have been saying for some time UNITED/USAIRWAYS WILL merge. They are making both organizations palatable to govt. regulators

 

[Walmartgreeter]

What's not fair about challenging USAir320Pilot and pointing out his true motives?

And what does the UAL forum being a wasteland have to do with it? Yes the UAL forum is usually pretty dull and there are more interesting conversations going on over here. So I post here, as I am certainly allowed to do as a registered member of the USAviation Forums (as opposed to just being registered to post in the USAviation UAL forum, for example). Why this is so fascinating to USAir320Pilot is beyond me. If anyone here would like to start a forum where just U employees can post, they are certainly free to do that. However this is not such a forum.

With one exception, I certainly do not mean to come across as poking any U employees with a stick for fun. If any another U employee feels I have been doing that, I apologize; please tell me what I wrote that comes across that way and I will try to be more sensitive.

BTW you quoting USAir320Pilot's intentionally misleading numbers are a perfect example of why many UA employees are here disputing him and pointing out the holes in his logic and reasoning. He repeats things often enough and people start to believe them, and often they are just wrong and detrimental to our employer.

Hello again Bear. The "no fair" was with a wink, but I hate using those little sideways symbols. I pretty much consider everything I read here to be kind of like Drudge, not all of it turns out to be true, but just about every story eventually leads to at least another one, sometimes even a better one. I was not quoting U320, nor did I mean to. Where did I go wrong...the less than 2 mil a day for U, the 6 mil a day for UAL, or the fact the ATSB has yet to give UAL a shot? I have made the mistake on this forum of attacking an individual because I did not like what he said, and apologized. In truth, I welcome your comments on U and UAL. I could just care less what you think of someone personally. I did not like reading my own comments when I did it, and I do not enjoy anybody else doing it. That's what I meant to say!