Mda News From Forbes Int'l

[BlackOps]

AFX News Limited
US Airways expects to raise 100 mln usd from jet, airport slot sales - report
06.24.2005, 12:57 AM

HONG KONG (AFX) - US Airways Group Inc expects to raise 100 mln usd from the sale of some of its regional jets and the lease of some airport slots to Wexford Capital LLC, an investment firm that controls commuter airline Republic Airways Holdings Inc.

The funds will bolster US Airways' liquidity as it moves to win the approvals needed to step out of bankruptcy-court protection and merge with America West Holdings Corp.

Under the terms of the asset sale agreement, Republic will buy or assume the leases of 28 Embraer 170 aircraft from US Airways.

Until Republic receives its operating certificate from the Federal Aviation Administration, which is expected on Sept 1, US Airways will lease the aircraft back from Republic and continue operating them.

US Airways will also sell, and then lease back from Republic, 113 commuter slots at Ronald Reagan Washington National Airport, and 24 commuter slots at New York LaGuardia Airport.

Too bad for the CEL pilots that out of the 24+ pages in LOA 91 Attachment B, only one sentence was devoted to flow-back.

 

[flyin2low]

Too bad for the CEL pilots that out of the 24+ pages in LOA 91 Attachment B, only one sentence was devoted to flow-back.

What does it say??????????

 

[passed_over]

as i stated in a previous post about mda the cel pilots i am sure will get the royal screwing that the wo pilots have always recieved from the mainline mec. however it makes one wonder had the mainline mec/pilot group not been so greedy as to have to a new divisionset up and worked to get the erj 170 family of aircraft placed at one of the w/o's the cel/furloughed mainline pilots who now work at mda may not be in the situation that they will soon find themselves in, which is out of work

 

[fr8tmastr]

flyin2low,

B-3 as it pertains to WO's

Pilots employed by a Participating Wholly Owned Carrier who
become MDA pilots or US Airways pilots under this Attachment B, may
flow back to their respective Participating Wholly Owned Carriers. US
Airways pilots employed by MDA, if furloughed from MDA, may displace
into positions at Participating Wholly Owned Carriers in order of their
seniority as US Airways pilots in accordance with the Flow Through
Letter of Agreement (LOA #_tbd__) to be agreed to by the Company and
the Association.

 

[xoxo]

What sucks is some of these U furloughed pilots had 16 years......I really do not consider that junior. The flight attendants were only 4 years or less that were furloughed.

 

[luvn737s]

Regardless of the sale of the jets to Republic, until they are operated as a feeder for an airline other than USAirways, it seems like a change of control. As for the WO carriers, with Air Wisconsin coming to the table with money to fly USX routes, I would say the hand writing is on the wall for these WO airlines. It seems the company is willing to give your flying to the lowest bidder or sell it to the highest, unfortunately.