Usairways Sells Erj-70's And Slots To Republic

the turtle said:
What a steal. Someone in CCY should be shot.
[post="278522"][/post]​

I'm assuming there is considerably debt being transferred with the assets, but why should they tell anybody a detail like that!

I note that US Airways will lease the slots and has the right to buy them back so in a way this is a short term secured loan. I'm guessing they desperately need cash before they exit Ch11, while most of the other money is post-exit.

So, US Airways will sell its slots to Republic and then pay Republic to fly its former airplanes using the slots it is now leasing from Republic.
 
Enirlia:

Enirilia said: "I note that US Airways will lease the slots and has the right to buy them back so in a way this is a short term secured loan. I'm guessing they desperately need cash before they exit Ch11, while most of the other money is post-exit."

USA320Pilot comments: Your guess is correct -- US Airways does require the money from the Republic deal to exit bankruptcy.

Regards,

USA320Pilot
 
PineyBob said:
To me the key phrase in the article was "Republic will assume the leases"
[post="278549"][/post]​


It's been fun here at MidAtlantic but now I guess the parties over! USAirways management just sold down the river it's most dedicated employee group to the lowest bidder. I just hope Mr. Lakefield can live on his "pimple" of a salary after it's all said and done and he is back playing golf with his 'Bama Buddy!

A320 Captain, any word on what ALPA is going to do for the MidAtlantic Pilots? I'm sure they will do the right thing(read heavy sarcasm here)

djadc9
 
djadc9 said:
I just hope Mr. Lakefield can live on his "pimple" of a salary after it's all said and done and he is back playing golf with his 'Bama Buddy!

A320 Captain, any word on what ALPA is going to do for the MidAtlantic Pilots? I'm sure they will do the right thing(read heavy sarcasm here)

djadc9
[post="278555"][/post]​

Lakefield and the rest of his cronnie's in CCY have never given a care or concern about any of the employees. Never have...Never will. They all can hardly wait to start counting the loot and hitting the golf course.
 
WestCoastGuy said:
Lakefield and the rest of his cronnie's in CCY have never given a care or concern about any of the employees. Never have...Never will. They all can hardly wait to start counting the loot and hitting the golf course.
[post="278561"][/post]​

Awwwww........

Sorry you're so bitter about this. Just remember
1 thing, this is a business decision pure and
simple. In business, there is no room for emotion,
and the proceeds from this sale will benefit the
ongoing survival of the business entity.
 
savyinvestor said:
This must not affect you! Savy :down:
[post="278568"][/post]​

SpinDoc replies:

The MDA asset sale does not directly affect me
personally, but it remains to be seen if the
overall merger plan will. I do feel sorry for
those MDA employees who will be displaced;
however, I was merely stating the company
position on the matter, and that is an
unemotional business stance.

If I am displaced for one reason or another,
I have a B.A. degree and will find something
else comparable to do before the severance
and unemployment run out.

I have come to the realization that I cannot
do a G - D thing about what is happening
to US, so I will roll with it until they pull the
rug out from under me.
 
I think it's very interesting that nothing was mentioned about the employees working the Embraer division, especially during the time between the sale and when Republic obtains their operating certificate.
 
phllax said:
I think it's very interesting that nothing was mentioned about the employees working the Embraer division, especially during the time between the sale and when Republic obtains their operating certificate.
[post="278586"][/post]​

I have not heard for sure, but I think that Republic Air would take some of them if they need f/as, but they will have to go through a hiring process.

However, remember, all the MAA f/as belong to us. And we want them back into the mainline fold where they came from and where they belong, with us.

Its only a matter of time before they start to recall the INVOLs back. Many f/as from mainline are attritting at a rapid rate and leaving USAirways for other opportunities. I am one of them. (70 f/as resigned betwee may and June alone) That's without any incentive, no VFLR nothing, they just quit.

We are making room for the INVOLs to come back. 477 are scheduled to retire by years end. 500 f/as are difintely leaving on the VFLR this year. Another VFLR is scheduled for next year. Historically one half of the VF that are scheduled to return never return, most don't even get their finger printing done.

Please don't fret about this sale. One door closes so another can open.

Stay tough, stay strong, and focused and keep flying the little bird until the last day. You'll be home before you know it. Just keep your current address up to date with Inflight.

I know...I SIT IN THE FRONT ROW; IN THE FRONT SEAT . :) B)