US' Alliance Partner: United CEO says airline faces critical week

[chipmunn]

[P][BR]Deleted by author and reposted below.[/P]
[P]Chip[/P]
[P] [/P]

 

[chipmunn]

[BR][FONT face=Times New Roman][FONT size=3][SPAN class=t]United Submits New Application for Federal Loan Guarantee[/SPAN][BR][BR][SPAN class=t][A href=http://biz.yahoo.com/djus/021023/1455000852_1.html]http://biz.yahoo.com/djus/021023/1455000852_1.html[/A][/SPAN][BR][/FONT][/FONT]

 

[chipmunn]

[BR][FONT face=Times New Roman size=3]Chicago Tribune takes hard stand against UAL and its unions in an article titled Time to force change at United.[/FONT][BR][BR][A href=http://www.chicagotribune.com/news/opinion/chi-0210230238oct23,0,6199230.story?coll=chi%2Dnewsopinion%2Dhed][FONT face=Times New Roman size=3]http://www.chicagotribune.com/news/opinion/chi-0210230238oct23,0,6199230.story?coll=chi%2Dnewsopinion%2Dhed[/FONT][/A][BR][BR][FONT face=Times New Roman][/FONT]

 

[chipmunn]

[P][FONT face=Times New Roman size=3]United to Cut 12% of Flights[!--plsfield:stop--] - Revised Business Plan Is Bid to Avoid Bankruptcy [/FONT][/P]
[P][A href=http://www.washingtonpost.com/wp-dyn/articles/A7462-2002Oct23.html][FONT face=Times New Roman size=3]http://www.washingtonpost.com/wp-dyn/articles/A7462-2002Oct23.html[/FONT][/A][BR][/P]

 

[chipmunn]

[BR][BR][FONT face=Times New Roman size=3]UAL's ATSB loan guarantee application consists of:[/FONT][BR]
[UL]
[LI][FONT face=Times New Roman size=3]Labor cuts of $5.8 billion over 5 years or $.16 billion per year; however, there has been no agreement on how to divide these concessions, there is no signed TA's, and now the AFA now desires equity.[/FONT][BR]
[LI][FONT face=Times New Roman size=3]Non-labor profit improvements of $1.4 billion annually. [/FONT][BR]
[LI][FONT face=Times New Roman size=3]12 percent reduction in capacity including of elimination of service to Caracas, Santiago, Düsseldorf, and Milan and five domestic cities will become United Express stations.[/FONT][BR]
[LI][FONT face=Times New Roman size=3]Starting a process to cut an additional $400 million in unspecified cuts including furloughing 1,250 employees.[/FONT][BR]
[LI][FONT face=Times New Roman size=3]reducing capital spending by $1.2 billion from 2003 to 2005.[/FONT][BR]
[LI][FONT face=Times New Roman size=3]Changing service on international routes, with B767s replacing B767s on the Paris-Washington, Paris-San Francisco and Miami-Buenos Aires routes. It also will switch B747s with B777s on the Osaka-San Francisco route, its second daily Seoul-Tokyo flight and its second Tokyo-Chicago flight.[/FONT][BR]
[LI][FONT face=Times New Roman size=3]The company continues to work with its vendors, lessors and lenders on unspecified additional measures to improve its financial position, but this was one of the major reason US Airways filed for bankruptcy. [/FONT][/LI][/UL]
[P][FONT size=3][FONT face=Times New Roman]Chip asks: [/FONT][FONT face=Times New Roman]This ATSB loan guarantee application is vague, does not have signed tentative labor restructuring agreements or any other stakeholder cuts, provides for an unspecified 12 percent reduction in capacity, and does not provide details of its revenue improvements, although additional RJ feed and the US Airways alliance are part of the revenue improvements. However, if the Delta, Northwest, & Continental alliance are approved, some of this revenue improvement would no longer be available. The question is, is that enough of a bottom line change for the ATSB to grant the loan guarantee?[/FONT][/FONT][BR][BR][FONT face=Times New Roman size=3]Meanwhile, United has retained Rothschild Inc. as a financial consultant. Rothschild advised Trans World Airlines on its Chapter 11 filing last year and subsequent sale to American Airlines parent AMR Corporation.[/FONT][/P]
[P][FONT face=Times New Roman size=3]Chip[/FONT][/P]

 

[chipmunn]

Black Wind:

Chip said: I rarely view the UA board, infrequently post, and normally only post a breaking news event. 767, if you look closely you can count on one or maybe both hands the number of times I have posted discussion comments on the UA boards.

Balck Wind said: you started this thread and have posted 14 of 19 replies you dont need to go to the UAL board youve made one here.

Chip comments: Black Wind, UA & US are business partners who now have a vested interest in each others success. A UA bankruptcy filing could have dramatic impacts both in WHQ & CCY; therefore, I started this thread to provide US employees with a one-stop source for UA news.

Chip

 

[chipmunn]

[P][SPAN class=t][FONT face=Times New Roman size=3]S&P may still change UAL, United Air Lines CCC rtgs[/FONT][/SPAN][/P]
[P][A href=http://biz.yahoo.com/rf/021024/airlines_ual_s_p_2.html][FONT face=Times New Roman size=3]http://biz.yahoo.com/rf/021024/airlines_ual_s_p_2.html[/FONT][/A][/P]

 

[Black Wind]

[BR][BR][BR]Chip comments: I rarely view the UA board, infrequently post, and normally only post a breaking news event. 767, if you look closely you can count on one or maybe both hands the number of times I have posted discussion comments on the UA boards. [BR][BR][BR][BR][BR][BR][BR][STRONG]you started this thread and have posted 14 of 19 replies you dont need to go to the UAL board youve made one here[/STRONG]

 

[chipmunn]

[BR][FONT face=Times New Roman][FONT size=3][SPAN class=t]United Names Pete McDonald Executive Vice President[/SPAN][BR][BR][/FONT][/FONT][A href=http://biz.yahoo.com/bw/021025/252168_1.html][FONT face=Times New Roman size=3]http://biz.yahoo.com/bw/021025/252168_1.html[/FONT][/A]

 

[chipmunn]

[P][SPAN class=h09][FONT face=Times New Roman size=3]UAL mechanics to update members[/FONT][/SPAN][/P]
[P][SPAN class=h09][A href=http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7BAA9328FE%2D0C9B%2D436D%2D90E4%2D8EC786557F88%7D][FONT face=Times New Roman size=3]http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7BAA9328FE%2D0C9B%2D436D%2D90E4%2D8EC786557F88%7D[/FONT][/A][/SPAN][/P]

 

[chipmunn]

[P][FONT face=Times New Roman][FONT size=3][SPAN class=t]New United CEO received $3 mln signing bonus[/SPAN][/FONT][/FONT][/P]
[P][A href=http://biz.yahoo.com/rc/021025/airlines_united_ceo_1.html][FONT face=Times New Roman size=3]http://biz.yahoo.com/rc/021025/airlines_united_ceo_1.html[/FONT][/A][/P]

 

[chipmunn]

[P][FONT face=Times New Roman][FONT size=3][SPAN class=t]United Works to Extend Nov. Debt Payment[/SPAN][/FONT][/FONT][/P]
[P][FONT face=Times New Roman color=#000000 size=3][A href=http://biz.yahoo.com/rb/021025/airlines_united_debt_1.html]http://biz.yahoo.com/rb/021025/airlines_united_debt_1.html[/A][/FONT][/P]
[P][FONT face=Times New Roman size=3]Chip comments: KfW this is the same bank who refused to provide US Airways with relief on 17 F100s, which lead to our bankruptcy filing.[/FONT][/P]
[P][FONT color=#800080][/FONT][A href=http://biz.yahoo.com/rb/021025/airlines_united_debt_1.html][/A] [/P]

 

[chipmunn]

[BR][FONT face=Times New Roman][FONT size=3][SPAN class=t]Singapore Air CEO says United seeking cooperation[/SPAN][BR][BR][/FONT][/FONT][A href=http://biz.yahoo.com/rc/021025/airlines_united_singaporeair_1.html][FONT face=Times New Roman size=3]http://biz.yahoo.com/rc/021025/airlines_united_singaporeair_1.html[/FONT][/A]

 

[chipmunn]

[P][FONT face=Times New Roman][FONT size=3][SPAN class=t]United Airlines sees $1.5 bln charge for pensions[/SPAN][/FONT][/FONT][/P]
[P][A href=http://biz.yahoo.com/rc/021025/airlines_united_pensions_1.html][FONT face=Times New Roman size=3]http://biz.yahoo.com/rc/021025/airlines_united_pensions_1.html[/FONT][/A][/P]

 

[Black Wind]

[BR][STRONG]chip loses mind on internetr message board[/STRONG][BR]