Us Airways Said To Be Pursuing Big Asset Sales

[oldiebutgoody]

Funny how the timing of this is after dave throws his temper tantrum and don't let facts get in the way, the ATSB loan gaurantee has the LGA and DCA slots as collateral, can't sell something that is pledged as collateral.

I was wondering about that. Also, wouldn't the ATSB have some say in a revision of the business plan of this magnitude? Personally, I think that Bronner has thrown away every penny he has invested in UAIR, and that HE and Siegel should leave. Maybe someone that understands the airline biz could give UAIR a fighting chance. If UAIR sells the shuttle, LGA gates, a hub (we know that they can't even GIVE AWAY PIT, so it would have to be PHL or CLT). If they did this, UAIR would IMMEDIATELY cease to exist. Either this is posturing for union negotiations, or the entire airline is being liquidated. Those are the ONLY options that make sense. :down:

 

[genejockey]

All of this is a crock of BS! On Monday Dave confirmed his plan included adding 60 aircraft to the fleet. And within two days, he says he has retained Morgan Stanley to seek buyer of major assets. This man clearly has no vision and is a blatant coward. "The unions refuse to hear my revised revised plan"...wha wha wha! Hey CEO Dave, how about sending one of those crafty letters to each employees homes so that each can make their decision on the Monday plan or the Thursday plan. What a joke! Your crediblity is ZERO. Management is posting on this board just to scare the rank and file. Good luck to all at US Airways!

 

[AOG-N-IT]

I see this news as a ploy to get the Unions to the negotiation table...and nothing else.

Closing a Hub by selling it would be a direct threat to at least 8,000 local jobs...and countless more via the shake-up it would cause to the entire system.

As it has been pointed out....nobody really wants to HUB PIT....even U itself has positioned itself for an exodus beyond 10 gates with the recent lease deal it's struck.

PHL even with the WN invasion coming has it's pluses....and NW is the only rumored suiter for such a move. Looking around the industry , who has the funding to spare for such a hub?.....then you take into consideration that most Legacy Carriers have already made statements about the industry being over hubbed to begin with.

CLT is just too much of a sweetheart from a cost and facility standpoint for U to try to sell it off. Should U try it?....it will have only handed a bargain to it's competition and further destroyed itself in terms of pissing away a very fine maintenance , distribution and training facility that could easily and cheaply absorb anything that PIT might happen to lose?

This brings us to the U Shuttle. The Shuttle is NOT the diamond it once was. The business traveler that this operation is so dependent upon , is not returning the way we had hoped. Business has found alternate methods since 9-11 to avoid last minute , high priced airline travel. U itself has rumored using smaller aircraft and less frequency on the Shuttle routes to match equipment with the actual demand.

I will stick with my initial feeling on this....This is Seigel making big noises to scare the labor unions to the bargaining table. It's a valid method too. Should U sell out PHL or CLT wholesale? This game is over now !! The loss of PIT is already in the planning or formative state....and two hubs 40 minutes apart is more than silly to begin with , when viewed beyond emotional ties only.

I believe if Seigel is serious about selling a hub or simply closing it? I would be PIT....I also see the Shuttle routes , not gates position as something we could survive if the Acft it would free up were utilized to un-tapped areas outside of our typical U mindset.

 

[ua767fo]

Former PSA/USAir employee here (remember CCR?.


P.S. I'm from the old school of air travel: Bring back the glassware and audio!!!

Sure do remember CCR!! I also remember SCK,BFL,FAT,SJO,OAK,MRY,SNA,PSP,LGB. And thats just California. I would get sick if I went on.

I too would love to go back to the old school of travel. It used to be prestigous and glamourus. Any wonder why many of us cant stand this industry any more?

DENVER,CO :down:

 

[PITbull]

if you take time to reflect on the contractual obligations....i think your theories are full of boosheet.
there are 279 ac provisions that will be honored unles he wishes for the atty''s to prosper.
there is the bus issue and its ramifications....
how many issues does it take for you people to realize that the end result of all this is a substatial DECREASE in your livelihood? :blink:

Delldude,

You are correct. Folks have been so victimized by this managment that they think they deserve NOTHING as a livlihood.
and
It is either we abrogate our own agreements by conceding yet again, or Dave's alternative is selling off our assets.

What I don't understand is that inspite of the continued improvement of the economy, this managment has not been able to use the cost savings given and the BK, and alliances to turn this airline around. And Dave just stated in the local papers yesterday that our position has improved and we have progressed.

SW announces to come into PHL, (they haven't done i yet) and these guys have absolutely "no confidence" even in themselves.

 

[USA320Pilot]

Dear Fellow Employee:

Here's the issue:

US Airways must cut its cost to survive, just like every other legacy carrier. The company has specific loan guarantee requirements that must be met and US Airways chairman David Bronner will not let his investment go into a Chapter 11 reorganization where he will lose his $315 million investment.

Thus, the alternative is to sell airline assets, most likely in pieces, pay off the ATSB loan guarantee, and then liquidate the company.

Either the unions go back to management and negotiate the work rule changes to permit the 60 new A320 aircraft and the transformation plan to go forward, or the company liquidates. We have a non-airline chairman who is quasi venture capitalist who will protect his investment first, regardless what some angry old airline workers think.

Bronner has a fiduciary responsibility to RSA first and we need to understand that.

Therefore, the union leadership must go listen to the transformation plan and let's move forward. There can be positive outcomes for the company going forward.

Just one more point, how many times have you seen an airline publicly offer assets for sale? Are they not normally sold and then announced?

Respectfully,

Chip

 

[Furloughedagain]

I'm confused as to how an entity can "sell" a hub.

An airport gains hub status by virtue of the fact that an airline chooses to run a hub operation from there.

They still lease gate-space... with the exception of a few airports (DCA, LGA,...) there are no "slots" to sell.

If US Airways were to vacate a hub any airline who chooses may come in there and establish a large presence. What exactly is there to "sell" as far as a hub is concerned with the exception of some ground equipment and a hangar or two?

 

[USA320Pilot]

Just one more point...

The ALPA MEC must now "eat crow" and lead by example and go see the plan – what other option do they have – the death of US Airways? We also need the other unions to do the same and soon. There is nothing we can do about the past and the past does not equal the future.

Respectfully,

Chip

 

[AOG-N-IT]

Just one more point...

The ALPA MEC must now "eat crow" and lead by example and go see the plan – what other option do they have – the death of US Airways? We also need the other unions to do the same and soon. There is nothing we can do about the past and the past does not equal the future.

Respectfully,

Chip

According to a certain poll I've been following....80% of those responding agree that the plan needs to be heard.

My thoughts are this. If Seigel had any testicular fortitude...He would lay they plan on us regardles of what the Unions say or think. Those that make the unions what they are would then make it known to those unions how they feel about responding to the plan.

By and large Dave has un-impressed the living crap out of me again on how he chooses to handle things. Threats to sell assets , or whines about nobody wants to talk to me is pure BS. I say let those stones drop little man....we shall decide if we desire to live with your plan and invisionments of OUR futures?

 

[WSurf]

"Free at last! free at last! thank God Almighty, we are free at last!"

 

[USAirBoyA330]

AOG-N-IT:

THANK YOU! Exactly how I feel. I for one don't even believe he has a "plan." So far he has "miscalculated" every move he has made. IF you want the rank and file to see the plan....THEN COME OUT AND TELL US WHAT "THE PLAN" is! We tell our unions what to do and NOT the other way around.

 

[AOG-N-IT]

"Free at last! free at last! thank God Almighty, we are free at last!"

Don't you have a 737 to fly?....or do you miss your DHC-8 ???

 

[Hope777]

Maybe now some of our non-employees can understand WHY we don't trust our management. If they don't get there way, they cry more then my 5 year old twins..............waaaaaaaaaaaa. Enough of this crap.....show us the plan don't back us into the corner. We all want to see your so called plan, or was this the plan all along? :down:

 

[fatburger]

If you haven't started yet, everyone should be looking for alternatives for life without USAirways. The slow bleed is picking up speed.

-fatburger-

 

[ua767fo]

I'm confused as to how an entity can "sell" a hub.

They can sell it the very same way TWA sold their hub at ORD to AMR, and sold their LAX hub.

DEN,CO