allegheny37
Advanced
:down: Let's not turn this into a East West issue :down: :rant:IT'S TRUE...So what!!!
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
:down: Let's not turn this into a East West issue :down: :rant:IT'S TRUE...So what!!!
Actually, it is a grey area. Your under the impression that hp was the "only" game in town. Had hp not been interested, I might be working the "United Shuttle" today...Ya know, I don't really want to stir the pot, but why is this issue such a slap in the face to the east side? Is it not a fact that USeast was on it's way to liquidation within aprox 60days prior to the announcment of the merger? I am not saying HP did not have their own financial issues, but why is it so hard to accept the fact that the merger was a savior for USeast? Those of us who talk about this do not mean it to be derogitory (sp?), it's just a fact, like 2+2=4, its not really a 'grey' area, as far as I have learned.
Actually, no, its not true. Investors put this together so they could recoup the money they've poured into both carriers. The airline’s strong cash balance is expected to be created through a combination of current cash on hand at US Airways/America West, $350 million of new equity commitments (which may be supplemented with additional commitments), and proceeds from a contemplated $150 million rights offering. In addition, the merged airline will receive cash infusions of over $1.1 billion, principally from partners and suppliers (approximately $675 million), asset-based financings or sales of surplus aircraft (approximately $250 million) and release of certain cash reserves (approximately $200-300 million).IT'S TRUE...So what!!!
Well Said,Actually, no, its not true. Investors put this together so they could recoup the money they've poured into both carriers. The airline’s strong cash balance is expected to be created through a combination of current cash on hand at US Airways/America West, $350 million of new equity commitments (which may be supplemented with additional commitments), and proceeds from a contemplated $150 million rights offering. In addition, the merged airline will receive cash infusions of over $1.1 billion, principally from partners and suppliers (approximately $675 million), asset-based financings or sales of surplus aircraft (approximately $250 million) and release of certain cash reserves (approximately $200-300 million).
The $350 million of new equity is expected to be provided by four separate investor groups. The new investors are: ACE Aviation Holdings Inc., ($75 million commitment) a Canadian holding company that owns Air Canada, Canada’s largest airline with over $7.5 billion in annual revenues; PAR Investment Partners, L.P., ($100 million commitment) a Boston-based investment firm; Peninsula Investment Partners, L.P., ($50 million commitment) a Virginia-based investment firm; and Eastshore Holdings LLC, ($125 million commitment and agreement to provide regional airline services), which is owned by Air Wisconsin Airlines Corporation and its shareholders. The merged company also plans to conduct a rights offering that could provide an additional $150 million of equity financing.
Approximately $675 million of additional cash financing is being secured through a combination of refunding of certain deposits, debt refinancing (which reduces collateralization) and signing bonuses from companies interested in long-term business relationships with the merged airline. The companies have signed commitments or firm proposals for more than $425 million in additional cash liquidity from strategic partners and vendors, including over $300 million in a signing bonus and a loan from prospective affinity credit card providers for the merged company. Negotiations with credit card companies are still in progress. Another $250 million will come from Airbus in the form of a loan. The companies have also agreed that the merged company will be the launch customer for the Airbus A350, with deliveries scheduled from 2011 to 2013.
That said, my reason for stating what the West employee said was because it was the second thing out of the guy's mouth when I met him waiting for a seat assignment.
"...I am agreeing with the earlier post that had it not been for this merger, US would no longer be here today. They were with in hours of closing the doors and liquidation."
This is SO tired. Just so you know, the demise/liquidation of US was predicted probably a million times (ok at least thru every concession) by everyone from mgmt to the press. Somehow, it NEVER happened. PLEASE stop with your savior complex!!!!!
peace out.
but, what? that's exactly what would of happened.I'm not necessarily saying that HP bought US. I am agreeing with the earlier post that had it not been for this merger, US would no longer be here today. They were with in hours of closing the doors and liquidation. Ya, sure, someone else could have arranged for investors to gather together to join with US...but!
I met a west employee on a flight from FRA to CLT a couple of weeks ago (a customer service agent from IAH). My only memory was that he told me his company saved mine from going out of buisness. Hope that wasn't you.
We westies apologize for her...I have been here a mere 8 years...and from the start....we have always been taught to take care of our own....we practice this on a daily basis in my station...and continue too no matter whom the non revver is...we all "pay" for those "free" seats in one way or another-don't you agree?Well why did the other two f/a's appologize for you then, I asked. I then said, "you and I have no control over the decisions by our management to merge and I also feel your frustration and fear". When I tell ya I don't forget a face. Boy I will definately remember HERS. To her I say thanks and for the rest of you at US west that may work with this woman I say Sorry.
Actually, it is a grey area. Your under the impression that hp was the "only" game in town. Had hp not been interested, I might be working the "United Shuttle" today...