Funguy2:
The entire industry is in flux and what is true today could be different tomorrow, but I agree with your last post.
Separately, the Wall Street Journal reported today "an appeals court dealt a blow to United, ruling repossessions of 14 jets could proceed unless the airline made full rental payments".
"Apparently United has interim lease agreements with mutliple investors who own 175 of the planes it leased, and last year it tried to reach a global settlement with the group. The airline's creditors committee objected to the interim deal, claiming the aircraft investors had extracted rich terms and the promise of stock in the reorganized company. Since then, the dispute has become mired in multiple courts, aircraft-rental values have risen, due in part to growing overseas demand, and some investors being paid low rates by United are growing impatient -- hence their demand last year for the return of 14 of the planes unless the airlien agreed to pay more." the WSJ said.
United had today's pre-trail hearing and tomorrow it has the pension termination hearing. In addition, ALPA has objected to the PBGC-United deal because it violates the pilots contract. If my memory serves me correctly, the United-ALAP agreement calls for the government to take over the mension funds in May, but the PBGC-United agreement says the government agency will take over the funds in December. The difference is about $140 million in benefits.
Then you have the United AFA S.1113(e) filing, the S.1113© trial against the IAM, AFA, & AMFA that begins on Wednesday, and tomorrow's pension termination hearing tomorrow against the IAM, AFA, & AMFA.
The IAM and AMFA have said they will stirke and the AFA will conduct CHAOS if their pensions are terminated or the contracts cancelled. Will it happen? Probably not, but it takes only one union to make the whole airline blow up, not to mention passengers booking away from the company and the appelate court aircraft lease ruling.
Regards,
USA320Pilot