Not quite. The point is to get enough cash to pay the first few installments of the loan while also maintaining the required "cash on hand" balances. That, from my understanding, is the major issue facing US at this point.
Us Airways Said To Be Pursuing Big Asset Sales
- Thread starter Jon153
- Start date
:huh: It will all be over very soon unless you get 15 % from mainline express
and 20 to 24% from mainline. That is whats left of them.
and 20 to 24% from mainline. That is whats left of them.
CLT-Douglas
Advanced
- Feb 12, 2003
- 179
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whatkindoffreshhell
Veteran
Nobody is buying anything. Just because an item is for sale doesn't mean the merchandise will be purchased. Just ask Ted.
Haven't you people learned anything?
To all the good people at USAir: thank you, good luck and good health.
Haven't you people learned anything?
To all the good people at USAir: thank you, good luck and good health.
luv2fly
Veteran
Other than the pilots, Delta could unilaterally impose wage cuts tomorrow on all of its employee groups if it wanted to. Why haven't they done so??7.5victim said:
7.5, do you work for DL?
If U is that close to the brink, would it not make sense for the other 6 to just wait and not buy any of the assets. If U folds completely, then they can scoop them up.
Just a different strategy
Just a different strategy
Hey phillyguy, You don't belong on this post, Because you make too much sense !!phillyguy said:
But the problem in the way you see things is that there is no DRAMA if the potential buyers of assets (if there are any) just wait until liquidation, and GET A BETTER DEAL.Before anyone draws the proverbial line in the sand and stands up and declares with finality that the "concession stand is closed", it would seem prudent to hear the "plan" and what it means to everyone. The employees must be allowed to make up their collective minds which may conflict severely with the pride of some union leaders. Nobody likes give backs of any form or anything that results in fewer employees, but I think you owe it to yourselves to have a good idea what you are being asked for. So far, all that seems to be available in the way of information would appear to be rumors and posturing. Nothing new here, sometimes as the saying goes you have to hit the donkey in the butt with a 2 X 4 to get his attention.
yes, I am a newbie, but what I have read in the last few days....Ligt Years makes the most sense of all.
It doesn't matter. You don't get it! We gave not once but twice to the tune of millions and millions and many many jobs. Why should anyone care anymore. I know I don't. They can stick it right where the sun don't shine. Your attitude is beyond reasonable, if this sick pup is going to die regardless, let it die and set us free.L1011Ret said:
Umm, not taking sides here, but ... you're free now if you want to leave to find something new. If US goes Chapter 7, don't expect any severance pay either. I believe all they are obligated to pay is wages for work already done, assuming enough cash remains on hand.cavalier said:
ITRADE
Veteran
Ummm Cav, there is a thing called the Thirteenth Amendment. You are not a slave. You can quit your job. Any. Time. You. Want.cavalier said:
Thanks for the complement!WorldTraveler said:
I also think that selling the assets pre-bankruptcy is a benefit to US and the acquiring carrier... US gets more control over the money generated + a small premium for selling something whole and intact vs. an auction of individual items (i.e. auction of the CLT gate leases, auction of the CLT hanger lease, auction of INT rez, auction of each aircraft one at a time, etc). Plus, the cost of selling outside of BK court should be less than getting all the BK lawyers and courts involved.
The acquiring airline gets the benefit of knowing they get everything they need for one lump price, as opposed to being forced to bid competitively for each individual item and having one critical piece fall to another carrier, or other shenanigans.
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