Us Airways Seeks Deadline Extension

[speedbird86]

The unforeseen developments are the higher than expected fuel cost. The money is probably going out faster than first thought.

[post="257957"][/post]​

I'd say that's a given fact. I'd also guess there's no POR based on that fact. They're probably coming up with a song and dance show for their judge buddy to beat up labor a little more.

 

[funguy2]

I'd say that's a given fact. I'd also guess there's no POR based on that fact. They're probably coming up with a song and dance show for their judge buddy to beat up labor a little more.

[post="257999"][/post]​

Or... CCY was not clever enough to come up with the idea of asking their Express partners to fund the BK exit... So when Eastlake/Air Wisconsin came on the scene, and likely shocked CCY, they had to redo everything because, well, that wasn't the plan.

 

[BoeingBoy]

It's not worth starting a new thread for, but there were a few other interesting filings over the course of the last few days.....

I've mentioned here and there the 24 Boeings that US has filed to reject the leases on with dates "to be announced". Two have had dates announced via filings. N587US, a 737-300, is to be rejected on April 10 and N437US, a 737-400, is to be rejected on April 17. Since I haven't seen a list of tail numbers for the 11 airplanes scheduled to be removed in May, I can only presume that these are the first of those and not in addition to them.

A listing of payments made to "ordinary course professionals" for the period 9/12 thru 1/10 was filed. These appear to be the run of the mill outside people that a company hires in the ordinary course of business and not bankruptcy related expenses. The list is here. The one that really caught my eye was a real estate broker in PIT. Paid them over $156 thousand per month since entering BK. That's almost enough to pay the lease cost on 2 737's.

An amendment to the GE deal was filed, the second. Both are because the aircraft sale/leaseback arrangement in that deal did not proceed as quickly as envisioned in the original deal. This meant that US paid monthly installments on the 2001 credit facilitylonger than envisioned and the changes allow US to draw an equal amount back out.

Finally, on the US/UA "fight" over the AirWis deal. Apparently, the BK court handling UA's case continued the hearing till this Friday pending a resolution between the parties, so the hearing in US's BK court was also postponed till Monday.

Jim

 

[USA320Pilot]

In addition to BoeingBoy's comments, US Airways has more work to do to complete its exit financing discussions. The company is holding talks with a number of parties and management is attempting to obtain the best deal possible.

Once management selects the exit financier, then it can complete the investment agreement and required documents for the bankruptcy court.

Regards,

USA320Pilot

 

[pitguy]

A320 Driver Yesterday, 05:09 PM

"""While from CCY we have:

New investments from Air Wisconsin and Wexford/Republic.
More interested parties in talks regarding investment.
Three days last week where the load factors exceeded 90%.
Strong booking for spring and beyond.

Who's right???

The people with the facts or the former employee with so called "connections".

Give it a rest Pitguy...nobody wants to hear it anymore.

A320 Driver"""

___________________________________________________________________

To soon to be Ex-A320 Driver,

Go ahead and say it. You were ...............ww............rrr..............ooo............nnnn.....
......ggggg...........!!!!!!.....................Go ahead...........It won't hurt.............

 

[pitguy]

A320 Driver Posted: Apr 28 2004, 01:07 AM

It was a mistake ... It was a bigger mistake for me ... I am deeply sorry...I have no knowledge or clue what happened...

I'm placing myself in the cornfield for good. You folks have at it. I've had enough.


Over and out.


-------------------------------------------------------------------

Your still here though!

 

[USA320Pilot]

MEC CODE-A-PHONE UPDATE - March 23, 2005

This is Jack Stephan with a US Airways MEC update for Wednesday, March 23rd, with one new item.

US Airways filed a motion in bankruptcy court on March 21st requesting to extend the exclusive period for filing a Plan of Reorganization, or POR. The POR describes how the Company will restructure and emerge from bankruptcy and the amount and type of currency (cash or stock) that will be paid to its creditors. Under the bankruptcy code, a company filing under Chapter 11 automatically has 120 days from the bankruptcy filing as an exclusive period to file a POR, and it is common in large bankruptcy cases for the debtor to file a motion requesting one or more extensions of the exclusivity period. In its filing, the Company asked that the exclusivity period be extended until May 31, 2005. The Company has stated that it still intends to file its POR on or before April 15, 2005.

US Airways' motion states that the Company plans to emerge from Chapter 11 on or before July 1, 2005.

Regards,

USA320Pilot

 

[the turtle]

A reliable source believes JO won't pony up any money for U. He plans on parking a bunch of ERJ's and furloughing @500 pilots(30%). Plus he wants all employees to take a 10% cut.

Maybe he's just playing hardball w/ the pilots and CCY.....we'll see.

 

[Finish or Ignore]

The unforeseen developments are the higher than expected fuel cost. The money is probably going out faster than first thought.

[post="257957"][/post]​

This was unforseen?

 

[Finish or Ignore]

Select???? Don't you mean beg?

[post="258056"][/post]​

Bob,
Make fun if you want but, I have had several jumpseat riders on my riding lawnmower. Investors are lining up for a chance at US.

 

[hp_fa]

Bob,
Make fun if you want but, I have had several jumpseat riders on my riding lawnmower. Investors are lining up for a chance at US.

[post="258136"][/post]​

Don't you mean scavangers, not investors?

 

[A320 Driver]

PROFANITY DELETED BY MODERATOR

 

[pitguy]

You said it. Are you not a man of your word?