Pittsburgh Gets A One Year Extension.
- Thread starter Baret4
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PITbull
Veteran
- Dec 29, 2002
- 7,784
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Folks,
I am pretty relieved that there is an extension. I believe also, this may help PA and Pittsburgh airport with relief on the PIT debt with this extra extension. And I also believe that this puts U in a precarious situation with the future negotiations.
When, not if, they show a profit in 2004, how will they explain to Pittsburgh Authority and Delegation that U is broke???????
This will be interesting.
I am pretty relieved that there is an extension. I believe also, this may help PA and Pittsburgh airport with relief on the PIT debt with this extra extension. And I also believe that this puts U in a precarious situation with the future negotiations.
When, not if, they show a profit in 2004, how will they explain to Pittsburgh Authority and Delegation that U is broke???????
This will be interesting.
This "extension" is from the same guy who said US Airways would not terminate its' leases in Pittsburgh. From the same guy who said US Airways would not sub contract Airbus heavy maintenance. From the same guy who said US Airways didn't anticipate any station closings in 2003. If you believe him, I've got a bridge for sale that I'd love to have you take a look at.
Dilligas
Veteran
This is very disturbing to me. I hope this is something you made up because you think its somehow "amusing" or makes some sort of point.pitguy said:
If you did not make this up, I think its a shame that your child even knows the name of Siegel and is stressed enough to be praying for your family to be left alone.
Perhaps you would consider protecting your child from your adult worries and thinking about how you vent and what you say in the household affects the young and innocent. Kids should be allowed to be kids, and not having to stress over Daddy's job.
I'm not picking a fight, I just hate to think of a child under stress that adults are putting on him/her.
What you say on here pretty much stays here... but kids hear and internalize all your stresses. Good luck.
USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
In my opinion, Dave Siegel’s decision to keep the Pittsburgh hub operating at its current level for up to 11 months was due to one of two factors. Either US Airways has no intention of leaving Pittsburgh and is using its bankruptcy leverage to extract the best possible deal or the Company is not ready to move on the UCT.
If the reports that the Pittsburgh hub negotiations are being held hostage to United’s exit financing remain in play, then it makes sense for Siegel to buy some more time to allow United’s end game to unfold. United still must resolve the pension issue (which is likely being held hostage itself by Congress and a legislative solution), the Dulles/UAL/Mesa/ACA situation, resolve the UCT airport municipal bond litigation, EETC negotiations, finding exit financing/equity plan sponsor(s), and meeting the ATSB requirement for a projected 7% profit margin in 7 years.
These are all major issues for United to resolve, which will take time, therefore, I believe there is a valid argument that Siegel may be buying time to get the best possible deal for US Airways should United be forced to sell assets to survive.
Respectfully,
Chip
If the reports that the Pittsburgh hub negotiations are being held hostage to United’s exit financing remain in play, then it makes sense for Siegel to buy some more time to allow United’s end game to unfold. United still must resolve the pension issue (which is likely being held hostage itself by Congress and a legislative solution), the Dulles/UAL/Mesa/ACA situation, resolve the UCT airport municipal bond litigation, EETC negotiations, finding exit financing/equity plan sponsor(s), and meeting the ATSB requirement for a projected 7% profit margin in 7 years.
These are all major issues for United to resolve, which will take time, therefore, I believe there is a valid argument that Siegel may be buying time to get the best possible deal for US Airways should United be forced to sell assets to survive.
Respectfully,
Chip
ClueByFour
Veteran
- Aug 20, 2002
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Hmm. Or maybe when he was drawing up a schedule without PIT, he wondered why the block time on a PHL-DAY flight was 3 hours...... Off-peak.
Somebody just blinked. Notice that published reports are now noting that LUV is looking at PIT. Perhaps the state/county might be shopping that $263 million around to other airlines, and maybe had a nibble.
Somebody just blinked. Notice that published reports are now noting that LUV is looking at PIT. Perhaps the state/county might be shopping that $263 million around to other airlines, and maybe had a nibble.
Pacemaker
Senior
- Sep 3, 2002
- 475
- 0
At this point US Airways has nowhere to deply the 40 or so mainline jets dedicated to the PIT hub if they close it. Dave could just park them in the desert and furlough another 500 pilots but this would violate provisions in the pilots' LOA and with the company out of CH. 11 and no external force majure causal factor the company would have no case in court.
allegheny1
Member
- Oct 1, 2002
- 84
- 0
Is it as simple as this....
The company through s western pa. a bone less than 48 hrs. before the
hearing on the iam s tro.
I scratch your back now you scratch mine.
Hmmmmmmmm
The company through s western pa. a bone less than 48 hrs. before the
hearing on the iam s tro.
I scratch your back now you scratch mine.
Hmmmmmmmm
whatkindoffreshhell
Veteran
Well said!Dilligas said:
And to think we have people like the original poster perhaps coaching our kids in sports. Anyway, just to have a kid so you can hear those little prayers would be blessing enough for many many people.
Twenty years from now all this US/PIT ugliness will be long forgotten. But what will your kids most remember?
Good luck and God Bless.
I think Pacemaker said it best. Dave knew he had nowhere to run those 35-40 Jets without sending most of them to MHV. This is good news for our PIT employees, it gives you another year to work on schooling or career changes and not disrupt you families lives in the short term.
PITbull
Veteran
- Dec 29, 2002
- 7,784
- 456
Chip,
U is making public statements that the company has NO MONEY, and they have told Pittsburgh they canot compete in Pittsburgh under that lease strucure. They have told the employees there is NO MONEY. Dave told the PIT President of AFA that they need to make the ATSB payments and they need all the help they can get. What would ever make you think U has money to purchase UNITED'sassets? Are you saying that Bronner has much of that retirement fund money to keep dumping into U...an airline has always been a high risk investment. Is Bronner that percarious with other folks money he can continue to take high risk ventures, or does Bronner know something that was not reported to the SEC?
Are you implying that U finance and Dave are lying? That wouldn't be unusal.. But, is that what is happening. That U has much more hidden money than they are willing to report to the SEC? Wouldn't that be fruad?
U is making public statements that the company has NO MONEY, and they have told Pittsburgh they canot compete in Pittsburgh under that lease strucure. They have told the employees there is NO MONEY. Dave told the PIT President of AFA that they need to make the ATSB payments and they need all the help they can get. What would ever make you think U has money to purchase UNITED'sassets? Are you saying that Bronner has much of that retirement fund money to keep dumping into U...an airline has always been a high risk investment. Is Bronner that percarious with other folks money he can continue to take high risk ventures, or does Bronner know something that was not reported to the SEC?
Are you implying that U finance and Dave are lying? That wouldn't be unusal.. But, is that what is happening. That U has much more hidden money than they are willing to report to the SEC? Wouldn't that be fruad?
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