Tampa? Us Airways Employees

[menyou]

I didn't see anyone else stepping up to the plate to try and undercut AWA when they had the chance to put in their bid. There was a 60 day period that was specifically for that reason, to allow anyone else a chance.

 

[700UW]

AWA did not bid or buy US, it is a merger of two companies funded by outside investors.

Is that so hard to understand?

May 19, 2005 – America West Holdings Corporation [NYSE: AWA] and US Airways Group, Inc. [UAIRQ.OB] today announced an agreement to merge and create the first full-service nationwide airline, with the consumer-friendly pricing structure of a low-fare carrier. Operating as the first national low-cost (LCC) hub-and-spoke network carrier, customers can look forward to simplified pricing, international scope, access to low-fare service to over 200 cities across the U.S., Canada, Mexico, the Caribbean and Europe, and amenities that include a robust frequent flyer program, airport clubs, assigned seating and First Class cabin service.

America West Holdings Corporation Chairman, President and CEO Doug Parker said: “Building upon two complementary networks with similar fleets, closely-aligned labor contracts and two outstanding teams of people, this merger creates the first nationwide full service low-cost airline. Through this combination, we are seizing the opportunity to strengthen our business rather than waiting for the industry environment to improve. A combined US Airways/America West places the new airline in a position of strength and future growth that neither of us could have achieved on our own.â€

US Airways President and CEO Bruce Lakefield said: “US Airways has a strong franchise and great employees that will be enhanced by America West’s strengths and success in the low-fare, low-cost marketplace. That we have secured such an impressive slate of equity investors and partner support in a period of such industry uncertainty is a strong indication of the prospects and enthusiasm for this transaction. It has been my objective to ensure the long-term viability of US Airways and the security of our outstanding employees; this merger with America West will accomplish that objective.â€

Financing
The merger is expected to create one of the industry’s most financially stable players, with over $10 billion in annual revenues and a strong balance sheet that includes approximately $2 billion in total cash at closing with which to weather the current industry environment and fund further growth strategies. 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.

 

[menyou]

I never stated that AWA bid or bought US Airways

 

[menyou]

But there was an auction period that other airlines could come and buy all or part of US Airways. Because it was in Bankruptcy protection.

 

[delldude]

But there was an auction period that other airlines could come and buy all or part of US Airways. Because it was in Bankruptcy protection.

[post="301059"][/post]​

yes and no one bid.....so think about that.

 

[FlyUs]

I didn't see anyone else stepping up to the plate to try and undercut AWA when they had the chance to put in their bid. There was a 60 day period that was specifically for that reason, to allow anyone else a chance.

[post="300961"][/post]​

I believe that a deal with ual would have been arranged.

 

[menyou]

I believe that a deal with ual would have been arranged.

[post="301077"][/post]​

They had a chance and nothing happened. The closest thing happening was Alaskan talking about buying AWA and US. But nothing happened. Noone bid to put in for slots, planes, nothing.

 

[linemech]

Per that Alleghany Mohawk (spelled wrong I know) that is in both our contracts, neither union will be dead ended. It will be a fair intergration. So it is better to go with the union that has the most benefits for us and not worry about the senority issue because it will be the same outcome no matter what union we choose.

[post="300017"][/post]​

Every AMT from PSA, Piedmont and US Airways watched their seniority change with each merger. Some saw a change for the better and some moved back by thousands of numbers.

Even those that moved back due to seniority integration knew it was the only fair way to deal with the seniority issue. US Airways and the IAM have always treated everyone the same during mergers and seniority issues and by doing so avoided dividing a workforce that must work together.

If America West employees really cared about fairness as they claim too, it wouldn't be a "one way 3 for 1 fairness." :down:



linemech.

 

[DR.EVIL]

All this is going to do is create hatred among both mechanic groups. What good is that going to do? Why cant we all get along because someday we might just end up switching stations and working with each other. I wouldn't mind going to Charlotte.

[post="300824"][/post]​

Come on to CLT, we will welcome you. But you'll need over 16 years to hold the station! The only hatred that it sounds that you'll have is when I'm granted ALL of my seniority, which of course I deserve.

 

[FlyUs]

They had a chance and nothing happened. The closest thing happening was Alaskan talking about buying AWA and US. But nothing happened. Noone bid to put in for slots, planes, nothing.

[post="301162"][/post]​

The deal would have been worked out before this deal ever came to fruition.

 

[menyou]

Well all I can say is you are crying about something that affects now...not the future. We go with your union, then we all take a pay cut. We all get screwed on sick time. We out source more. So yeah lets go with a union that sucks. Screws its people time after time after time. Smart move

 

[700UW]

You really need to stick with the facts.

Does HP do any heavy checks?
NOPE!

Does US do heavy checks?
YES, All C and S checks on the Airbus and 50% of the Q-checks on the 737s and all the C-checks on the 737s.

Sick time does suck for the first 5 days unless hospitalized and US mechs make slightly more then AWA on base rates.

 

[AP Tech]

Plus the IAM will let you cross a picket line!!!!! :down: :down:

 

[menyou]

You really need to stick with the facts.

Does HP do any heavy checks?
NOPE!

Does US do heavy checks?
YES, All C and S checks on the Airbus and 50% of the Q-checks on the 737s and all the C-checks on the 737s.

Sick time does suck for the first 5 days unless hospitalized and US mechs make slightly more then AWA on base rates.

[post="301415"][/post]​

Question 9: What is the Teamsters Union’s position on outsourcing, subcontracting and heavy maintenance?

Answer 9: The Teamsters Union intends to retain all heavy maintenance performed in-house as of the signing and completion of the merger, and to bring as much outsourced heavy maintenance in-house as possible. The outsourcing of America West Airlines heavy maintenance took place in 1995, prior to the Teamsters organizing of the America West AMTs, and was in fact a major reason why the AMTs chose to organize with the Teamsters Union.

 

[700UW]

I am talking right now, not in the future.

HP does not do heavy maintenance under the IBT contract, if you read the IBT it will keep the heavy mtc under the IAM contract as the IBT does have the scope language to do heavy mtc.

HP uses Timco in Macon, GA and TACA in San Salvador for ALL heavy maintenance.

Don't let the facts get in your way.