USA320Pilot
Veteran
- May 18, 2003
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US Airways, flight attendants deal near
Pittsbrugh Post-Gazette reported: John Luth, Seabury Group CEO, testified that "it's going to be challenging process" for the airline to attract the $250 million in additional funds it needs to stay afloat. But Luth said he believed it was possible to find investors if the airline is able to cut labor and other costs.
USA320Pilot comments: With $1.1 billion in total labor cuts there are Equity Investors available to provide exit financing.
Pittsbrugh Post-Gazette reported: US Airways is nowhere near an agreement with the International Association of Machinists (IAM), which represents mechanics and cleaners, according to testimony presented yesterday and Thursday. One former executive and a current executive said they are frustrated with the lack of progress in talks with the IAM.
USA320Pilot comments: No kidding. Like I have said before, the IAM would rather see "imposition" and its members take a "painful" hit versus having to make a difficult decision.
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Regards,
USA320Pilot
Pittsbrugh Post-Gazette reported: John Luth, Seabury Group CEO, testified that "it's going to be challenging process" for the airline to attract the $250 million in additional funds it needs to stay afloat. But Luth said he believed it was possible to find investors if the airline is able to cut labor and other costs.
USA320Pilot comments: With $1.1 billion in total labor cuts there are Equity Investors available to provide exit financing.
Pittsbrugh Post-Gazette reported: US Airways is nowhere near an agreement with the International Association of Machinists (IAM), which represents mechanics and cleaners, according to testimony presented yesterday and Thursday. One former executive and a current executive said they are frustrated with the lack of progress in talks with the IAM.
USA320Pilot comments: No kidding. Like I have said before, the IAM would rather see "imposition" and its members take a "painful" hit versus having to make a difficult decision.
See Story
Regards,
USA320Pilot