robbedagain
Veteran
- Oct 13, 2003
- 11,125
- 2,676
and how does usa320pilot think that rsa is still going to maintain control of usair if and when they go ch11?
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WorldTraveler said:jimntx,
The only salvation for the other legacies will be if they choose NOT to follow US and UA's pattern of confrontational employee relations as part of cutting costs while moving very slowly, if at all, to transform the business model.
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WorldTraveler said:jimntx,
Don't count on ATA to bail out anyone. I take it you have seen ATA's statement that it could be out of cash by early 2005. Less than $200M is pretty slim to have right now.
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USA320Pilot said:PineyBob:
PineyBob said: "Just curious, because this guy has a ego the size of small planets and IMO he ain't going quietly."
USA320Pilot: As you know, the company has hired bankruptcy financial and legal consultants. According to Bruce Lakefield at last week's MEC meeting, the more union's that participate in the new business plan the better the odds of the airline surviving, whether in or out of bankruptcy.
Dependent on how negotiations go during the next few weeks, as well as the IRS pension waiver (where the company said the odds are not good for government approval), will determine ownership, but I can tell you this, you're right about David Bronner and I have been told there is a plan(s) to not cancel the security and for RSA to maintain control of the airline.
Respectfully,
USA320Pilot
[post="169845"][/post]
If US Airways files for bankruptcy in less than a month, airline chairman David Bronner predicts that no one, including himself, will be willing to rescue the nation's seventh-largest carrier from oblivion.
"Bankruptcy means we probably lose control, and we lose our money. And I will say 'Thank you very much for the lesson' and go home."
EyeInTheSky said:What a jerk! "Newly hired workers earned lower wages and didn't burden the airlines with hefty pensions." WTF! RSA is a pension fund!!! I don't know about you but I wanted to puke after I read this.
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