CJ,
US Air was in a lot worse situation than HP in 2005. We had 6-7 year upgrades, hiring hundreds of pilots to the stagnation we face today. It is of no coincidence that priorities shifted East.
I think someone benefited, it was not the West or ALPA.
Henry Hubschman
We lost a friend and a very good man this week. Henry Hubschman, the former chairman and CEO of GE Capital Aviation Services (GECAS) died of cancer at the age of 63. Henry built GECAS into the world's largest aircraft leasing firm and was one of the most influential people in the history of commercial aviation. He also played an enormous role in the success of US Airways and for that we are extremely grateful.
Henry was instrumental in helping America West receive a government loan guarantee after 9/11. He aggressively supported our application with members of the Federal Reserve and the Treasury department, bringing the full support of GE to our cause.
Without Henry's hard work, I do not believe America West would have received a loan guarantee and without that guarantee, America West would not have survived.
America West did survive, though, and was there to help US Airways avoid liquidation in 2005 through our historic merger.
Henry led GECAS' support of that merger, which enabled us to attract capital from a number of other sources and fund the transaction. More recently, Henry and GECAS played a role in helping us raise nearly $900 million in late 2008, which allowed us to manage through another difficult time in aviation history.
As you review that history, I think it's fair to say that none of us would be working here if weren't for Henry Hubschman.
Of course, Henry didn't do these things out of benevolence to US Airways; he was a smart and tough-minded GE executive who made these decisions because he believed they were in the best interest of GE, which leases airplanes and sells engines. However, he took the time to understand the drivers behind our circumstances and had the foresight to understand what was needed to address them.
Most importantly, he had faith in our team. He believed we could do what we said were going to do, while our competitors and some skeptics were suggesting we could not. I have always worked very hard to make sure we validated that confidence - largely because that's our job - but also because I didn't want to let Henry down.
Thanks to all of you, we have proven him right and I know he appreciated your hard work. Please take a little time to pause and thank Henry this week and send your positive thoughts and prayers to his wife, Joanne, and their four children.
Thank you, Henry, from all of US. Safe travels, my friend.
Doug
