GECAS...not US Airways and not ALPA is driving this decision.
The move will reduce US Airways debt, will reduce the company's chance of having its credit rating dropped, and permit the company to pay off the federal loan guarantee sooner.
GECAS wants to diversify their risk, improve their chance of obtaining a capital gain on their 5% ownership of the company, ensure their power-by-hour CFM engine overhaul contract remains in place, and protect their $4 billion in investment (about $2 billion in mainline aircraft and $2 billion in RJ financing).
The move strengthens US Airways balance sheet, reduce its forward debt obligations, and keeps the RJ revenue within US Airways Group, which will help the airline meet its loan guarantee EBITDAR requirements this summer.
In my opinion, there will be a new LOA next week, the new "hardline" MEC will endorse the proposal and then the LOA will receive membership ratification by a 4 to 1 margin.
Moreover, there are reports United Airlines is trying to obtain US Airways' RJ delivery positions as a means to fix Dulles and unless ALPA gives in to GECAS' demands, the financier could strip US Airways of RJ delivery positions and move them to United Express.
Speaking of United Express, part of the Dulles situation could be solved with AirTran's decision to end its pact with Air Wisconsin.
See Story
Respectfully,
USA320Pilot