Where's The Por?

[Falco]

Isn't today the deadline for the POR?

 

[delldude]

think you're missing an "o"........... 🙁
probably still reeling from 1st qtr report......scrambling if you will.

 

[dfw79]

Extended to May 31st thanks to GE and the HP deal.

 

[avek00]

Not quite - the COURT'S deadline is May 31st - the GECAS deadline of today still stands unless the parties have agreed otherwise. That said, GECAS is not likely to pull the plug as long as there is substantial progress in the talks with HP.

 

[ClueByFour]

Seth has it.

 

[avek00]

Seth has it alright, and he's probably stuck on a PHL-DCA flight which is delayed due to ATC...

 

[jimntx]

I'm not one to say "I told you so," but... on 15April, I said

My prediction of extension to 15May or 31May

 

[sfb]

Actually, I think Seth put it in his checked baggage to DCA and he connected in PHL.

 

[BoeingBoy]

According to the latest code-a-phone, the new POR deadling is May 6.

"Item 3. US Airways has reached an agreement with GE Capital Aviation Services (GECAS) and GE Engine Services (GEES) to extend the date for US Airways to file a Plan of Reorganization (POR) with the U.S. Bankruptcy Court. The date for filing the POR has been extended until May 6, and it may be extended further. The POR describes how the Company will restructure and emerge from bankruptcy and the amount and type of currency (cash or stock) that will be paid to its creditors. US Airways has already received a Bankruptcy Court extension until May 31, 2005, to have exclusive rights to file a POR."

Jim

 

[sfb]

Interesting bit of information there, Jim. So there have been two extensions of one month apiece, a third of 14 to 15 days, and a fourth of 6 or 7 days (depending on if you count from last Friday or Saturday). This is entirely conjecture on my part, but to me it looks like either GE thinks that a deal with AWA is very close at hand or they are ready to pull the plug.

 

[SpinDoc]

Interesting bit of information there, Jim. So there have been two extensions of one month apiece, a third of 14 to 15 days, and a fourth of 6 or 7 days (depending on if you count from last Friday or Saturday). This is entirely conjecture on my part, but to me it looks like either GE thinks that a deal with AWA is very close at hand or they are ready to pull the plug.

[post="266532"][/post]​

GE may give another extension, but will
certainly not pull the plug. They have US
hooked on their form of crack (aircraft
leases) and they will keep bleeding cash
from US as long as possible.

The announcement today that 10 more aircraft
are going back to GE may be the leverage and
collateral needed for another extension. That is,
unless a merger deal is worked out with HP and
GE by tomorrow. We'll soon have the answers.

 

[sfb]

The announcement today that 10 more aircraft
are going back to GE may be the leverage and
collateral needed for another extension.

Well, there was no specific announcement that these aircraft are GE's, only that the mainline fleet is being reduced. I'd expect that if they were GE's, we'd see some sort of press release to that effect along with, say, an extension of the GE POR deadline as consideration.

It seems quite strange to me that this announcement of reducing the mainline fleet by ten additional frames was buried at the end of a monthly traffic release.