Bankruptcy Emergence...

[Air conditioned]

Just curious...if the paycut agreements are reached and all of the other "requirements" of the new plan are met, what would be the soonest we could emerge from bankruptcy? :unsure: What sort of time frame? :blink:

 

[cavalier]

Just curious...if the paycut agreements are reached and all of the other "requirements" of the new plan are met, what would be the soonest we could emerge from bankruptcy? :unsure: What sort of time frame? :blink:

[post="190390"][/post]​

Go back to bed, you're sleep walking, it's only a dream my son. U is toast, the kind you can't eat.

A Heads Up: The captain will be right behind me saying as soon as you all bend over a little further.

 

[Reservation Agent]

If USAIRWAYS gets everything it is asking for in bankruptcy court, after giving managers 4 percent raises in April, I don't believe the airline will survive past the Christmas holidays....

I believe either the mechanics, the flight attendants or some group will shut down the airline.....

You can't keep treating people like crap forever....

 

[CynicalResAgent]

how long will you have to wait till U comes out of Bankruptcy? ummmm how do I do a sideways 8?

 

[ALCARLOS]

If USAIRWAYS gets everything it is asking for in bankruptcy court, after giving managers 4 percent raises in April, I don't believe the airline will survive past the Christmas holidays....

I believe either the mechanics, the flight attendants or some group will shut down the airline.....

You can't keep treating people like crap forever....

[post="190404"][/post]​

Do you think USAirways could get thru the winter season if Reservations were outsourced to India on January 1?

 

[bobcat]

Air conditioned

I do have to agree with the above. US will never come out of this one. If the judge grants managements demands, it will just prolong the agony until the inevitable.

 

[CynicalResAgent]

Do you think USAirways could get thru the winter season if Reservations were outsourced to India on January 1?

[post="190411"][/post]​

sure, they'd be able to train them in no time....and the public would understand them despite their accents.....yeah, the Chairmans will love em.......

 

[CynicalResAgent]

Do you think USAirways could get thru the winter season if Reservations were outsourced to India on January 1?

[post="190411"][/post]​

sure, they'd be able to train them in no time....and the public would understand them despite their accents.....yeah, the Chairmans will love em.......

 

[WestCoastGuy]

I think most of us agree....the end is slowing approaching. US will not come out of BK but go into Chapter 7 and cease operations. It would be nice if it was done with some dignity toward our customers and the employees with notice, but that wont happen. We'll just come to work some morning the the place with be shut down and a sign posted written in pencil on some printer paper that the airline is shut down. Regardless of what kind of give backs we are forced to take, it wont survive for more than 6 months tops. Im planning an extended trip in March and counting on the company to be gone by then.

 

[OldGuyinPA]

You know the song....

I'll be home for Christmas.....if only in my dreams......

Bank on it......Sorry to be so negative.

Respectfully, Respectfully, Respectfully, Respectfully,

 

[EyeInTheSky]

Bankruptcy court this time around is like a roach motel: They check-in but they won't check-out. This whole thing really BUGS me :blink:

 

[UseYourHead]

First (now thru the end of the year) there will be the perm cost cutting contracts nego or imposed, along with structual changes in where and how we fly.

Dip financing will be addressed next (first half of next year).

Finally, the exit after that(June 05 or later).

Can and will this happen? Yes, for those who are not ready for change you best strap in...get onboard or be left behind.

It is about time, lets get on with it!

Just curious...if the paycut agreements are reached and all of the other "requirements" of the new plan are met, what would be the soonest we could emerge from bankruptcy? :unsure: What sort of time frame? :blink:

[post="190390"][/post]​

 

[Long Gone]

First (now thru the end of the year) there will be the perm cost cutting contracts nego or imposed, along with structual changes in where and how we fly.

Dip financing will be addressed next (first half of next year).

Finally, the exit after that(June 05 or later).

Can and will this happen? Yes, for those who are not ready for change you best strap in...get onboard or be left behind.

It is about time, lets get on with it!

[post="190634"][/post]​

The rest of the story-

Enron wasn't given enough time.
Nixon was innocent.
Monica Lewinsky will be Secretary of State.
Gasso earned his 158 million.
Pete Rose is a choir boy.
The bullets in Iraq are not real.
The Moon is made of Cheese.
The Three Stooges were chief architects of the Manhattan Project.

 

[BoeingBoy]

"Finally, the exit after that(June 05 or later)."

U is in the position of those attempting to stop another terrorist attack on U.S. soil. What's that saying - we have to be right 100% of the time and they have to be right once.

For U to emerge, everything must go just right. The judge must rule on every motion in the company's favor. Fuel must come back down. Passengers must stop booking away in excessive numbers. Etc, etc, etc...

Where are we right now.

Oil is higher than in the company's cash forecast, which determined the cash on hand requirements of the new ATSB agreement. If oil stays this high, everything else going correctly won't matter - the ATSB can pull the loan and we liquidate.

The company says that there is a bigger drop in bookings than forecast. If this doesn't correct itself, see above for the possible outcome.

If the judge rules that the pre-petition contributions to the DB pension plans must be made, we don't meet the ATSB requirements - see above for the possible outcome.

If the judge takes much longer to rule on the pay cuts, the forecast of cash on hand is out the window. The forecast was based on savings starting next week - see above for the possible outcome.

If the judge rules that against the 23% paycut (say he gives 18%), there goes the forecast of cash on hand - see above for the possible outcome.

If the judge rules that U must put money aside to protect the EETC holders against a decrease in the value of the underlying asset, there goes the cash forecast - see above for the possible outcome.

And on and on and on.....

In other words, the company not only needs to be right 100% of the time but external factors and entities beyond the company's control have "cooperate" as well.

It's been said that 9/11 was the final piece in a "perfect storm" that allowed the company to "do what we needed to do" in Gangwal's words. That is probably true.

What we are in now is a second "perfect storm". Only this time it is not in the company's favor. This combination of events is almost perfectly suited to finishing U off.

Jim

 

[USA320Pilot]

UseYourHead:

I agree with your comments, but I believe the company will emerge sooner.

Management is now refining the 9000+ non labor contracts for renegotiation or rejection and has told the court it would like to submit its POR in mid-December.

Then the company would need to schedule the meeting with creditor's committe early next year to have the disclosure statement approved.

With S.1113(e) imposition and if all new/permanent labor accords are complete before the first of the year, the company may not have to reject aircraft (the decision is due mid-November) and the company could emerge in early spring.

Regards,

USA320Pilot