suupah
Well-known member
- Joined
- Jan 31, 2004
- Posts
- 1,779
The short version is you are either going to be merged into another carrier or shut down in bankruptcy. Colgan is burning through Pinnacles cash way to fast. Which means if Pinnacle can't acquire another profitable carrier to merge Colgan into (Mesaba? Commute Air?, Peidmont?), or sell Colgan, they will park your Saabs and and fold the Q's into Pinnacle. They may need to use the chapter 11 bankruptcy process to park all of the Saabs. There are no new contracts to bid on and there won't be any in the future - the industry is shrinking and trying to shed contracts, codeshares, and aircraft. The only other option is to put Colgan into chapter 7 and shut it down. Since Pinnacle corp totes the notes for the Q's they won't do that unless they have a buyer for the AC prior to the BK. In that case the pilots won't go with the AC.
It is called 'merge or die' and the entire industry is looking down that barrel. A student of airline history would tell you history is repeating itself - again.
thats the picture i am seeing unless something major takes place.