JetBlue Nosedives on U.S. Economic Weakness, Fuel

[lowecur]

We also have $5 billion in cash.
Bye Bye--General Lee

Can you post a copy of their last balance sheet? I just have to see that $5B for myself.

imp:​

 

[Tanker Clown]

Those things, and lowering pilot pay to less than Air Tran's.

Thanks for doing your part!

Amen! Oil's pushing $100 today...it's only a matter of time before mgt goes back to the trough...it will be interesting to see who gives. Looks like the boys at UAL and AMR are pretty p.o.'d these days...but the folks at DAL seem to still be slamming the Kool-Aid even after getting the shaft. I imagine when the company comes calling, G.L. (Heavy Set, 737 Pylt, or whatever he's logged in as at the time) will tell us how awsome the cuts are going to be because the company will let them fly more hours for less pay. And they will then proceed to roll over and take it.

 

[lowecur]

Back to JB - it required an equity investment from Lufthansa because it needed to bolster its cash position. Rising fuel and labor costs translate into more cash out than normal - hence the need for a cash infusion. Increased competition from Virgin America and Delta don't help because lower ticket prices also equate to less cash in the bank to pay for higher-cost expenses.

I believe they also have short term debt of $400M(baloon payment, I think) or so due in 2008. They were planning to refinance at higher rates, but Lufthansa gives them a few more options. S&P still has them at CCC, so it's still quite a bit below junk. Once the future deals with Lufthansa are finalized, this could help their rating quite a bit and make refinancing a little more palitable.

imp:​

 

[General Lee]

I believe they also have short term debt of $400M(baloon payment, I think) or so due in 2008. They were planning to refinance at higher rates, but Lufthansa gives them a few more options. S&P still has them at CCC, so it's still quite a bit below junk. Once the future deals with Lufthansa are finalized, this could help their rating quite a bit and make refinancing a little more palitable.

imp:​

I don't see ANY long term gain with Lufthansa (other than a slight credit bump upwards), since they really don't have many flights that would or could connect with Jetblue at any of their current bases. LH has 3 (count them) flights a day to JFK, and with slot restrictions and a 2 year freeze by the FAA of any slot transfers, there just won't be a lot of connecting. And, how many people on those 3 flights just want to go to NYC? I think this was a financial transaction because Jetblue (and all US Airlines) has a cheap stock and the dollar is low against almost every other currency. They have already lost half of their investment. How many flights does LH have to BOS? Two. And, they cannot park at the JB terminal inbound from Germany because all INTL flights have to go to the INTL terminal there. Very little connecting opportunities there. Looks like an investment that may go south for the Krauts.

Bye Bye--General Lee

 

[General Lee]

Can you post a copy of their last balance sheet? I just have to see that $5B for myself.

imp:​

I found this in Yahoo finance showing the assets for the DEC 31st, 06 statement, and that was the most current I could find. There are liabilities also in the charts, which is significant too, but you asked about cash on hand, and I threw in the current assets too. Those numbers are in Millions.

Assets
Current Assets

Cash And Cash Equivalents 2,784,000

Short Term Investments 614,000 -

Net Receivables 1,317,000

Inventory 181,000

Other Current Assets 489,000


Total Current Assets 5,385,000




Bye Bye--General Lee

 

[General Lee]

Amen! Oil's pushing $100 today...it's only a matter of time before mgt goes back to the trough...it will be interesting to see who gives. Looks like the boys at UAL and AMR are pretty p.o.'d these days...but the folks at DAL seem to still be slamming the Kool-Aid even after getting the shaft. I imagine when the company comes calling, G.L. (Heavy Set, 737 Pylt, or whatever he's logged in as at the time) will tell us how awsome the cuts are going to be because the company will let them fly more hours for less pay. And they will then proceed to roll over and take it.

With oil this high they are forcasting a POSSIBLE small operating loss. Sure doesn't sound like they have to go "back to the trough." Thank gawd we have guys like you on this board to "tell it like it is", even though you really have no clue. Yes, we took cuts, with a judge looking over our shoulder. Not much we could do about that, and that was after we took the pay scales to the highest they have EVER been for any airline (LCC or Cargo). How did we do that Tanky? A BK judge with the ability to impose whatever he wants is pretty significant in any "negotaition", and even though we did take a significant pay cut and pension cut (we made up a lot of that with the claim sale), we did keep most of our rules, which is something others did not do. But, you are sitting at your desk job thinking otherwise. Well, good for you. And you want to fly for Delta? Riiiight. Oh yeah, it will be a stopgap for your future job at Fedex or Southwest.......right.

Bye Bye--General Lee

 

[737 Pylt]

Amen! Oil's pushing $100 today...it's only a matter of time before mgt goes back to the trough...it will be interesting to see who gives. Looks like the boys at UAL and AMR are pretty p.o.'d these days...but the folks at DAL seem to still be slamming the Kool-Aid even after getting the shaft. I imagine when the company comes calling, G.L. (Heavy Set, 737 Pylt, or whatever he's logged in as at the time) will tell us how awsome the cuts are going to be because the company will let them fly more hours for less pay. And they will then proceed to roll over and take it.

You're pretty mistaken, and uninformed, as usual. But we've come to expect that from an 1800 hour mesa wonder. I NEVER touted paycuts were a good thing.
Hey, speaking of trough, how did the tire change go on the trailer?
I bet with the holidays you were able to upgrade to snow tires.:laugh:
What's even funnier is that this is a Jet Blue thread, yet spanky clown can't help himself that he has to drag old Delta into it. I can only imagine how pissed he is at himself that the best he'll be able to do is go jets! Those job rejections and that pathetic pay must really be bothering you sport!
737

 

[General Lee]

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Amazing Tanky---both General Lee and 737 pylt on at the same time. There must be two different computers, right? Where is Heavy Set when we need him too? Darn.


Bye Bye--General Lee

 

[Heavy Set]

Here I am. What's Tanker Dork saying now?

 

[General Lee]

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Here it is again, and where did 737 pylt go? Is Heavy Set there now? I think he is.


Bye Bye--General Lee

 

[General Lee]

Here I am. What's Tanker Dork saying now?

He still thinks we are the same person. That guy is soo out of it.

Bye Bye--General Lee

 

[Heavy Set]

I guess I'm psychitzophrenic...

 

[General Lee]

I guess I'm psychitzophrenic...

How's the corporate life treating you?

Bye Bye--General Lee

 

[Heavy Set]

That guy's a clown.

 

[General Lee]

That guy's a clown.

Yes, yes he is. He is a Delta/Fedex/Southwest wannabee. In reality, he is a desk warmer.


BYe Bye--General Lee