UAL777flyer
Veteran
- Aug 20, 2002
- 730
- 0
Chip,
I understand where you're coming from and don't doubt that the very scenario you've proposed is being discussed. This is why from the beginning I've been an advocate of airlines doing ALL that they can to fix their problems WITHOUT going hat in hand to the feds. Because you can bet that the feds will use the opportunity to push their own agenda, which may end up doing more harm than good to the industry in the long run. Basically, the Bush Administration, FAA and DOT have no clue what is best for the industry. In fact, had the FAA and DOT been doing their jobs, many of the industry's problems wouldn't even be an issue. The ATSB as formed was meant as a vehicle to stabilize the industry through loan guarantees. It wasn't meant to be used to dictate consolidation and bankruptcy as they see fit. However, I realize that with the feds you get politics. And anyone who doubts that the ATSB process is political is crazy.
If UA has the ability to restructure outside of bankruptcy, it should be allowed to do so. For the ATSB to dictate that UA declare Ch.11 because they can shape an outcome to their liking is a travesty. However, I firmly believe that is what is going on. A lot will become known this week when UA's unions release their restructuring proposal and how Tilton reacts to it. If it is a sincere, hard-hitting proposal that has the potential to restructure UA successfully, than it's a good start to a final agreement. However, if it's laden with politics and unrealistic demands or if Senior UA Mgmt scoffs at it no matter what it includes, than UA might as well meet the unions on the courthouse steps because that is indeed where we will end up.
I understand where you're coming from and don't doubt that the very scenario you've proposed is being discussed. This is why from the beginning I've been an advocate of airlines doing ALL that they can to fix their problems WITHOUT going hat in hand to the feds. Because you can bet that the feds will use the opportunity to push their own agenda, which may end up doing more harm than good to the industry in the long run. Basically, the Bush Administration, FAA and DOT have no clue what is best for the industry. In fact, had the FAA and DOT been doing their jobs, many of the industry's problems wouldn't even be an issue. The ATSB as formed was meant as a vehicle to stabilize the industry through loan guarantees. It wasn't meant to be used to dictate consolidation and bankruptcy as they see fit. However, I realize that with the feds you get politics. And anyone who doubts that the ATSB process is political is crazy.
If UA has the ability to restructure outside of bankruptcy, it should be allowed to do so. For the ATSB to dictate that UA declare Ch.11 because they can shape an outcome to their liking is a travesty. However, I firmly believe that is what is going on. A lot will become known this week when UA's unions release their restructuring proposal and how Tilton reacts to it. If it is a sincere, hard-hitting proposal that has the potential to restructure UA successfully, than it's a good start to a final agreement. However, if it's laden with politics and unrealistic demands or if Senior UA Mgmt scoffs at it no matter what it includes, than UA might as well meet the unions on the courthouse steps because that is indeed where we will end up.
