Chapter 11 Soon?

[USAirUnited]

USA320 You name wouldnt happen to be Clair...... as in clairvoyant..

 

[Light Years]

 

[Rico]

You know what, ya'll need to step off and give 320 a break.

We can all agree that US will not be doing a single thing that the ATSB, RSA, Airbus, GE, Embraer, and Bombardier do not want it to do, or have not already agreed to.

That is what "pre-packaged" means

IF they (the creditors) see their investment/debt owed as having a far better chance of payoff after one more trip through bankruptcy, then guess what...

It is the creditors that any BK judge is most concerned about, NOT employee groups. Mr Bronner made it clear that this whole affair would move ahead with or without the employees, but there is no way that anything can happen without the prior approval of the major Airways creditors.

Think for a second, remember when the credit rating dropped a few months back, and GE could have pulled the plug on further aircraft delieveries...? What exactly do you think they (US and GE) talked about, what exactly do you think that they agreed to that mollified GE enough to allow further EMB-170 and CRJs to be delivered...?

Do not kid yourself, the Money men have had their pow-wows, and they have their plans laid out and agreed to already. These plans have multiple optionsbased upon what we do, but all include Labor giving up something.

THE POINT IS, would you rather have a say in the matter, or not...? You have no say in BK. Only the major creditors get a real vote, and they have already signed off on things... With or without the employees.

 

[hp_fa]

Hey hp fa, cool avatar!

[post="166854"][/post]​

Thanks. I had to figure out how to do it (DUH) and how it would look. I also think it is cool-looking.

 

[700UW]

Dell computer shut down their India based tech support, it was not customer service and moved it back to the US.

Chalk up another wrong fact from you know who.

 

[hp_fa]

Dell computer shut down their India based tech support, it was not customer service and moved it back to the US.

[post="166869"][/post]​

When did this happen?

 

[Expectorant]

Dell computer shut down their India based tech support, it was not customer service and moved it back to the US.

Chalk up another wrong fact from you know who.

[post="166869"][/post]​

I read that DELL kept the India-based tech support for individual consumers, but routed their corporate clients' calls to a U.S.-based tech support center due to too many complaints over the accent thing.

 

[unit4clt]

Can someone Explain the reasons why the ATSB would allow US Management to make a mockery of the ATSB process shortly after turning down UNITED ? I think it will be very difficult and inappropiate for the ATSB to put their stamp of approval on this "prepackaged bk".

 

[oldiebutgoody]

I gotta disagree with 320 about creditors WANTING the company to go into chapter 11 (among other things). Even if they have something prearranged, which they would be stupid at this point not to, someone with an interest in the company could step in an squash their plans. The last thing GECAS, Embraer and Bombardier want or need is a couple of hundred cheap airplanes out on the market AGAIN and hundreds of delivery positions for RJs which are quickly falling out of favor. They STILL face virtually NO RISK to their money since it is guaranteed by the taxpayers. The ATSB itself is a much more thorny issue, as they are ONLY concerned with the ability of the company to repay the loans. In the case of a chapter 11 or 7 the chance of the ATSB being able to profit at all from this investment is nil. The company could FORCE a bankruptcy by accelerating repayment of these loans, leaving no operating cash, virtually guaranteeing chapter 7 liquidation unless a suitor is found to bail them out, in which case the RSA, unless it is that suitor, will likely lose control of the company. Yea, it would suck for the employees, but it would suck for the corporation and it's creditors as well. WAY MORE DOWNSIDE POTENTIAL THAN UPSIDE, I'm afraid.

 

[700UW]

I have been told it will occur on September 12. Could that change? Maybe, maybe not.
Respectfully,
USA320Pilot

[post="166850"][/post]​

Now lets see, you are not the CEO, a SR VP, VP, Director nor a manager. You are a REGULAR line pilot, maybe you think you are someone of importance, but in reality you are a rank and file employee and I seriously doubt anyone in management would risk their career and freedom and let you in on the company's secret plans.

You can try your line with someone else, but I see right thru it.

 

[zonecontroller]

New discipline procedures for the IAM Mechanics:
Instead of giving mechanics five days off without pay for minor work rule violations they will be locked in the cockpit with USA320Pilot for five hours.

Ultimately, this will test the strength and integrity of the new cockpit doors!

 

[cavalier]

Now lets see, you are not the CEO, a SR VP, VP, Director nor a manager. You are a REGULAR line pilot, maybe you think you are someone of importance, but in reality you are a rank and file employee and I seriously doubt anyone in management would risk their career and freedom and let you in on the company's secret plans.

You can try your line with someone else, but I see right thru it.

[post="166892"][/post]​

This guy has serious issues as was told to me by an expert, this topic only affirms what I was told. He needs someone to help him because his decline seems to be accelerating.

 

[RowUnderDCA]

I would think that creditors might agree to force a prepackaged bankruptcy to preserve their positions, if they believed that a succesful business plan could be implemented through a 'judicial restructuring' that would not otherwise be implemented. Certainly that would be preferrable to taking a irreversible turn to liquidation of the debtor and the return of aircraft, right? What I don't understand is the role of the ATSB and the guaranteed debt holders and the shareholders. But I guess the shareholders won't have a choice in an invol filing.

Could a bankruptcy proceeding provide a better return to ATSB debtholders, than would be available to them from the US guarantee? Clearly the ATSB does NOT want to pay off those loans; they want US to pay off those loans. So the ATSB goes to its guaranteed debt holders and puts together a plan... maybe.

Assuming that they believe that U will implement a plan for success, including lowered labor costs, I presume, I guess that makes sense in my head.

But then U will come out with nearly the same amount of debt, some rejected leases and lowered employee costs.

hmmmmmmm?

 

[700UW]

The ATSB is collateralized with enough assets to pay the loan off, all the LGA and DCA slots are part of the collateral.

 

[balloonguy]

I just have two questions for someone that has all the answers. Why must we accept 13.10 per hour, when there are many LCC that top out at a higher amount. And if it is true the Pit and Winston res offices COULD close, then the company must have a plan in the works already. An airline could not function without some reservations offices. I would love to know what that plan consists of.

[post="166826"][/post]​

Why don't all of you U.S. Air EE's just admit that there is no future at US. I have been a Loyal U.S. Airways traveller for the last 18 years, all at the Chairman's and Priority Gold Plus Levels, etc. Management DOES NOT CARE about its loyal customers so why would you ever think they would care about the EE's. Bite the bullet, take an initial pay cut, go out and get a good job with another airline that cares about its customers and EE's and knows how to run a business.

You will be much better off a year from now because US Airways will NOT be in existence!!