Us Airways And Atsb Restructure Loan
- Thread starter JayBrian
- Start date
I must say USA320Pilot's postings these days are simply... amusing. I actually laugh at loud when I read them now. I guess it is kinda sad when you think about it, but the disconnect between the reality of the situation and how s/he thinks a knight in shining armor (in the form of one merger or ICT/UCT or another) is just around the corner is hilarious.
Oh well, I guess we all deal with stressful situations in our own way. If it helps you get through the day, USA320Pilot, good for you!
Oh well, I guess we all deal with stressful situations in our own way. If it helps you get through the day, USA320Pilot, good for you!
USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
What I find interesting is that if my M&A comments are inaccurate than why do the United employees visit the US Airways board every day and comment on my reports?
If the comments are of no value than why waste your time responding?
Tic...Toc...Tic...Toc...Tic...Toc
Regards,
USA320Pilot
If the comments are of no value than why waste your time responding?
Tic...Toc...Tic...Toc...Tic...Toc
Regards,
USA320Pilot
1. See, that's what I love about your posts: the pure logic behind them shows a VERY disturb.... er, DISCIPLINED (yeah that's it) mind. By your reasoning, the fact that a UA employee posts on the U board proves to you that your M&A comments are accurate. I love it!
2. I never said your comments are of no value. To the contrary, they are of a very high ENTERTAINMENT value. So keep 'em coming.
3. Huh?
Respectfully,
Bear96
2. I never said your comments are of no value. To the contrary, they are of a very high ENTERTAINMENT value. So keep 'em coming.
3. Huh?
Respectfully,
Bear96
PITbull
Veteran
- Dec 29, 2002
- 7,784
- 456
Bob,
Hope your getting rid of your frequent flying miles. This managment didn't tell anyone they would buy down the loan to the tune of $250 million. AFA was told we are in a money crunch with a cash burn of over $1m a month. They are up to something, and this buy-down gave the co. flexibility and convenant relief. Final piece is all of labor to bring their wages and benefits in line with LCC,
then BIG BANG! Sell off of the airline with some LCC.
I said it first on these boards. Forget United. It will be a LCC .
Hope your getting rid of your frequent flying miles. This managment didn't tell anyone they would buy down the loan to the tune of $250 million. AFA was told we are in a money crunch with a cash burn of over $1m a month. They are up to something, and this buy-down gave the co. flexibility and convenant relief. Final piece is all of labor to bring their wages and benefits in line with LCC,
then BIG BANG! Sell off of the airline with some LCC.
I said it first on these boards. Forget United. It will be a LCC .
USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
A key component of the revised ATSB agreement is that the federal government gave US Airways flexibility to sell certain assets and eliminated the risk of default if independent auditors (KPMG) question the airline's future.
Regards,
USA320Pilot
Regards,
USA320Pilot
ClueByFour
Veteran
- Aug 20, 2002
- 3,566
- 37
Perhaps they are interesting in correcting the massive distortions, innuendo, and largely innacurate statements you make about their employer?USA320Pilot said:
That ticking noise you hear is your career dissapation light. U has $925 million. At a cash burn of a million a day, U will hit the revised loan covenant bogey ($700 million) before the end of the year.
Those who live in glass houses should not throw stones (or imply that one's own angry slumlord is going to buy somebody else's glass house, and the widebody car in their garage).
Reality at 11.
USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
Clue:
Now with ATSB EBITDAR relief, the ability to sell assets, and the new ALPA RJ scope relief, there is more reason to believe that PSA, Allegheny/Piedmont, possibly MDA and some RJ delivery positions will be sold.
The funds will boost US Airways' liquidity position and along with Pittsburgh facility changes, will permit the company to further restructure. New labor accords will be obtained in the next 90 to 105 days and then the company will be involved in a corporate transaction.
Moreover, let's not forget that Dave Siegel told Susan Carey of the Wall Street Journal this week his focus is on fixing the company on a stand-alone basis, "so we're a more attractive partner" when the "necessary, logical and inevitable" consolidation occurs.
Regards,
USA320Pilot
Now with ATSB EBITDAR relief, the ability to sell assets, and the new ALPA RJ scope relief, there is more reason to believe that PSA, Allegheny/Piedmont, possibly MDA and some RJ delivery positions will be sold.
The funds will boost US Airways' liquidity position and along with Pittsburgh facility changes, will permit the company to further restructure. New labor accords will be obtained in the next 90 to 105 days and then the company will be involved in a corporate transaction.
Moreover, let's not forget that Dave Siegel told Susan Carey of the Wall Street Journal this week his focus is on fixing the company on a stand-alone basis, "so we're a more attractive partner" when the "necessary, logical and inevitable" consolidation occurs.
Regards,
USA320Pilot
TheLarkAscending
Veteran
It does appear that you may actually mean: "What I find annoying is that those pesky United employees think they have the right to voice a dissenting opinion, and with ever more pervasive frequency, the nerve"!!
Why not reverse that statement and apply the same logic yourself? If they, as responders, have no validity, why are you so worked up when they do? Although it is extremely kind of you to consider the value of their time, I'm certain that they can decide how best to use or waste it.
Peace,
Lark
DorkDriver
Advanced
- Aug 28, 2002
- 128
- 0
From USA320: "Now with ATSB EBITDAR relief, the ability to sell assets, and the new ALPA RJ scope relief, there is more reason to believe that PSA, Allegheny/Piedmont, possibly MDA and some RJ delivery positions will be sold"
Why do you say there is more reason to believe PSA will be sold? With the ATSB allowing Group to be more flexable with our cash balance doesn't that diminish the need to sell off profitable parts of the company?
Why do you say there is more reason to believe PSA will be sold? With the ATSB allowing Group to be more flexable with our cash balance doesn't that diminish the need to sell off profitable parts of the company?
Walmartgreeter
Veteran
- Mar 6, 2003
- 1,430
- 1,143
Bear. This is not fair. The UAL forum is a wasteland. Nobody cares, nobody posts. And yet you continue to post here. Since U is doomed, what is the point...poking them with a stick for fun? I am sure that UAL has a much better chance of exiting BK with no ATSB backup and 6 mil a day loss, as does U out of BK with less than 2 mil a day and breathing room for what...another year? I could care less about either airline..but for gosh sakes, your kettle is a black hole. I demand equal reading on your forum. It is no fun! Get with it!Bear96 said:I must say USA320Pilot's postings these days are simply... amusing. I actually laugh at loud when I read them now. I guess it is kinda sad when you think about it, but the disconnect between the reality of the situation and how s/he thinks a knight in shining armor (in the form of one merger or ICT/UCT or another) is just around the corner is hilarious.
Oh well, I guess we all deal with stressful situations in our own way. If it helps you get through the day, USA320Pilot, good for you!
USA320Pilot
Veteran
- May 18, 2003
- 8,175
- 1,539
Dork:
The ATSB agreed to amend a covenant requiring US Airways to receive 85 percent cash for assets that it sells. It can now sell assets for a combination of financing methods, including all debt. Moreover, the company is not required to apply all the proceeds of asset sales to its loans, as its original covenant required. The board agreed to let the company keep 25 percent of sales up to $125 million.
In addition, today's ALPA RJ scope agreement resolved PSA CRJ-200 and CRJ-700 issues. There will be more news on this subject next week.
Regards,
USA320Pilot
The ATSB agreed to amend a covenant requiring US Airways to receive 85 percent cash for assets that it sells. It can now sell assets for a combination of financing methods, including all debt. Moreover, the company is not required to apply all the proceeds of asset sales to its loans, as its original covenant required. The board agreed to let the company keep 25 percent of sales up to $125 million.
In addition, today's ALPA RJ scope agreement resolved PSA CRJ-200 and CRJ-700 issues. There will be more news on this subject next week.
Regards,
USA320Pilot
