It's August 1st, What Happened?

[novaqt]

Oh Fishy? Are you about to become up in arms about the article below which specifically mentions Frontier and your low cost brethren? I guess your expenses are about to increase. Where will that put you??? The tables are beginning to turn bubba!

http://www.rockymountainnews.com/drmn/busi...3970534,00.html

 

[Borescope]

We did not file now at the request of the Creditors’ Committee.

[post="285353"][/post]​

This must mean that the creditors commitee doesn't have the confidence in managements proposal.

 

[novaqt]

No, Borescope, it simply means that United announced an aggressive plan to file its POR and the bankers and the lawyers want to make sure all the T's are crossed and I's dotted before emerging. Having worked with these large corporate law firms, this is nothing new. I frankly prefer this approach, since this will leave no stone unturned. When United emerges, you will have every confidence that United is a newly restructured company and a competitive force to be reckoned with. Northwest and Delta have waited and waited before filing their Chapt. 11's because whoever is in bankruptcy have the court behind them while they restructure and this give them the competitive edge. However, they may have waited too long. United wants to be absolutely sure to be a survivor.

 

[mrfish3726]

novaqt, what's that article got to do with UniTED'S reorganization delay? It even said in the article that your own company opposes the new government requirements. Everyone it looks like will have to bare the burden to put a system in place to meet the requirments, if they materialize. More cost for Frontier yes and even more cost added to UniTED also. We'll still be here, and the fish will still be here at F9. Fish has to sign off for a few days to go pick up his NEW Harley Night Train out east. But beleive me I'll be back!!!

 

[spacewaitress]

This board is a digression of spin in defense of this inept management team. It never ceases to amaze me.

It is what it is, another postponement...spin all you want. MOTSS.

 

[darkclouds]

This board is a digression of spin in defense of this inept management team. It never ceases to amaze me.

It is what it is, another postponement...spin all you want. MOTSS.

[post="285391"][/post]​

Spacewaitress,

The only spin I see is coming from FishFace...So the exit plan is postponed, what is the big deal? USair was out in six months the first time...Continental, AmericaWest had lengthy stays.

Better to do it right the first time...as much as I hate lawyers pay them what it takes to have a solid plan.

As for the inept management...hard to say right now...might take a few years to determine if they knew what they were doing in rebuilding the company structure.

As for management/employee relations, I agree...definitely inept!

 

[Fly]

I say let them sit as long as the judge will allow. It'll give us time to see if Delta or Northwest file and what they plan to cut.

 

[uafa21]

It looks to me that their may be something the company didn't expect. It will be interesting to say the least.

 

[UnitedChicago]

Come on everyone - this was Tilton and crew's plan all along. The announcement in July of the 8/1 timeframe was simply a PR move. I'm convinced they knew all along that 8/1 would never work, there would be objections raised by creditors et al, and that they could delay again the plan. All this and the creditors look like the bad guys...

This is neither a big surprise nor a huge setback.

It's good actually as it gives TPG or Greenwald's group more time to court creditors and employees.

Enough is enough with this management team. Get TPG IN HERE NOW! They're 2/2 for successful post CH11 airlines.

 

[spacewaitress]

Just last week the company told the employees it was filing the plan Aug 1. I agree with uafa...something unexpected came up. Of course that's speculation.

And from what I've read lately...we don't have the financing.

Fly I'm surprised you'd say wait to see what Delta and Northworst do...all this airline has EVER done is REACT. They are supposed to be making a plan and acting. Obviously, for whatever reasons that remain a mystery, they aren't able to do that.

With oil at 62$ today I wonder if that wasn't in "the plan."

 

[novaqt]

Like I said before, looks like the Creditors Committee and United want to wait until mid-September to file the POR until Delta, Northwest, Independence Air and others, who may want to take advantage of the current bankruptcy laws, decide if they will file. After September, the new bankruptcy laws take effect and are much less favorable file under. There may be a rash of filings from those who want to take advantage of the current bankruptcy law. Best to wait and see for now.

http://money.cnn.com/2005/08/02/news/fortu...on=money_latest

 

[gatemech]

Come on everyone - this was Tilton and crew's plan all along. The announcement in July of the 8/1 timeframe was simply a PR move. I'm convinced they knew all along that 8/1 would never work, there would be objections raised by creditors et al, and that they could delay again the plan. All this and the creditors look like the bad guys...

This is neither a big surprise nor a huge setback.

It's good actually as it gives TPG or Greenwald's group more time to court creditors and employees.

Enough is enough with this management team. Get TPG IN HERE NOW! They're 2/2 for successful post CH11 airlines.

[post="285414"][/post]​

Court employees for more cuts. I hope I am wrong. I hope someone flames me later if it doesn't happen. As oil goes up our wages will go down.

 

[767jetz]

But beleive me I'll be back!!!

[post="285390"][/post]​

Maybe not...

Here's an article from Rocky Mountain News:

Frontier takes 'corrective action'

"an internal inquiry determined mechanics inspecting an airliner forgot to reinsert an oil plug, causing the aircraft to lose oil pressure soon after it took off from Denver"

and this...

"The Denver-based carrier, citing company policy, declined to say whether any employees were fired or reassigned following its investigation. "

Looks like maybe Fishy was working that day!

Hey Fish, if you spend less time obsessing over UAL and paying more attention to your own airline, stuff like this could be avoided.

Maybe this is how he got some time off to go pick up his new Harley.

 

[eolesen]

Spacewaitress,

The only spin I see is coming from FishFace...So the exit plan is postponed, what is the big deal? USair was out in six months the first time...Continental, AmericaWest had lengthy stays.

[post="285399"][/post]​

The big deal is that UAL management has gone after labor and aircraft leases, and they've dumped your pensions on the taxpayers. All this and they're still losing money faster than any other airline except perhaps for Independence Air.

What's most alarming to me is that US Airways was pretty upfront about being able to get people lined up to invest in the new company. Even before HP stepped up to the plate, they had Republic and Air Wisconsin putting money on the table.

If someone is looking to put new money into UAL, then it needs to be made public. The deafening silence out of Jake's office leads me to believe that there either isn't anyone at all interested, or that the level of interest doesn't go beyond smaller players (like Mesa?), therefore the creditors don't believe the POR will actually succeed.

The only known fact at this point is that UAL is well on track for setting the record for one of the longest trips thru bankruptcy court.

 

[willyloman]

How much did UAL loose in the 2nd quarter? Perhaps that's the reason for the delayed POR/exit plan.