Dave's Message
- Thread starter BoeingBoy
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robbedagain
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- Oct 13, 2003
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My question is why is the bankruptcy option wayy farr off the horizon if the company claims that the next 30 to 90 days are critical to USAIRWAYS' survival???
OP
BoeingBoy
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- Nov 9, 2003
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Robbedagain asks
"My question is why is the bankruptcy option wayy farr off the horizon if the company claims that the next 30 to 90 days are critical to USAIRWAYS' survival???"
The ATSB loan covenants say we can't file for bankruptcy.
Jim
"My question is why is the bankruptcy option wayy farr off the horizon if the company claims that the next 30 to 90 days are critical to USAIRWAYS' survival???"
The ATSB loan covenants say we can't file for bankruptcy.
Jim
repeet
Veteran
Does anybody remember when " the next thirty to ninety days" wasn't critical?
repeet
Veteran
Negative?
Since when does pointing out that "the next thirty to ninety days" aren't critical, negative?
Not that they aren't important, mind you. It's just that if contracts are honored, and the business is run, the company certainly won't fold.
28yearsnojob
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- Jan 2, 2004
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:unsure: THE sale is on which pieces will go nobody knows but a few at
the top
the top
USA320Pilot
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- May 18, 2003
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The next 30 to 90 days is critical because without new labor accords the S&P credit rating could drop to C+. If that occurs, then GECAS will pull the MDA RJ financing and we could then likely fall into default of the ATSB loan -- without the MDA RJ revenue.
If that occurs there will be additional asset sales, which is why Siegel reiterated that the airline is considering selling assets, but he said: "While everything is on the table, it is not inevitable that the company will have to spin or sell assets off." Further, Siegel said, he doesn't see another bankruptcy filing from US Airways "in any kind of relevant time horizon."
Without labor accords the company will not enter bankruptcy, it will just sell chunks of the company to protect Bronner's investment and prevent a default on the loan guarantee, which could provide an involuntary bankruptcy filing where Bronner would lose about $650 million.
As I have said countless times before, if US Airways can stabilize its finances and Untied will emerge there will be a corporate combination.
Respectfully,
USA320Pilot
If that occurs there will be additional asset sales, which is why Siegel reiterated that the airline is considering selling assets, but he said: "While everything is on the table, it is not inevitable that the company will have to spin or sell assets off." Further, Siegel said, he doesn't see another bankruptcy filing from US Airways "in any kind of relevant time horizon."
Without labor accords the company will not enter bankruptcy, it will just sell chunks of the company to protect Bronner's investment and prevent a default on the loan guarantee, which could provide an involuntary bankruptcy filing where Bronner would lose about $650 million.
As I have said countless times before, if US Airways can stabilize its finances and Untied will emerge there will be a corporate combination.
Respectfully,
USA320Pilot
- Banned
- #15
Get your resumes in order, because the IAM Mechanic and Related will not open thier contract.USA320Pilot said:
Plus thru two rounds of concessions Dave told us this is all he needs, so what he did not get in negotiations he and his management team tried to steal.
The man can't be trusted.
