USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
Bear96:
One more point...
The reason the UCT and then the ICT failed was that Glenn Tilton did not have any interest in a deal. Why? According to the Post-Gazette he was too distracted by (United's) own struggles in bankruptcy.
Furthermore, Tilton recently told the AP's Dave Carpenter United was close to liquidating. As I indicated above, Dave Siegel told US Airways F/O Tim Caroe and I on our jumpseat between DCA & LGA that if the Iraqi War or SARS last just a little longer and United missed its DIP/EBIDAR requirements that US Airways' chairman of the board David Bronner would fund with RSA asets.
If you remember, on February 7 the Charlotte Observer reported "We don't run from fights," said David Bronner, chief executive officer of Retirement Systems of Alabama, which is US Airways' principal partner in bankruptcy court and principal owner if it emerges. Bronner speculated that United has a 50-50 chance of surviving a war. He said that if United were to sell assets, he would consider backing the purchase of some "if it would be beneficial to US Airways."
Could it have been a fight and a hostile attempt to acquire United assets? Maybe, maybe not. I truly do not know what went on in Bronner's mind. I only know what has been reported in the news media and what Tim and I were told by Siegel.
Best regards,
USA320Pilot
One more point...
The reason the UCT and then the ICT failed was that Glenn Tilton did not have any interest in a deal. Why? According to the Post-Gazette he was too distracted by (United's) own struggles in bankruptcy.
Furthermore, Tilton recently told the AP's Dave Carpenter United was close to liquidating. As I indicated above, Dave Siegel told US Airways F/O Tim Caroe and I on our jumpseat between DCA & LGA that if the Iraqi War or SARS last just a little longer and United missed its DIP/EBIDAR requirements that US Airways' chairman of the board David Bronner would fund with RSA asets.
If you remember, on February 7 the Charlotte Observer reported "We don't run from fights," said David Bronner, chief executive officer of Retirement Systems of Alabama, which is US Airways' principal partner in bankruptcy court and principal owner if it emerges. Bronner speculated that United has a 50-50 chance of surviving a war. He said that if United were to sell assets, he would consider backing the purchase of some "if it would be beneficial to US Airways."
Could it have been a fight and a hostile attempt to acquire United assets? Maybe, maybe not. I truly do not know what went on in Bronner's mind. I only know what has been reported in the news media and what Tim and I were told by Siegel.
Best regards,
USA320Pilot