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USCtrojan

KolobWestwind
Joined
Feb 26, 2004
Posts
1,942
From the Majors Board....Discuss. Granted, rumor, but certainly a likely possibility...


UAL Rumor
I have no idea how much truth there is to this.

"Also according to Washington insider law firms, United has retained bankruptcy counsel. (Again) Thoughts are that it will be a Chapter 7 filing possibly as early as late 2009 or early 2010, with most assets going to STAR Alliance partners in such a fashion so as to avoid disruption of the Mileage Plus program (and others), the financial integrity of the STAR Alliance, and allow for transfer of other assets (aircraft, etc.) in such a fashion so as to avoid union “involvement” or interference. United owns very little at this point so it would merely involve termination of leases which is easy in either Chapter 11 or 7. Such transfers could involve number levels below “fragmentation policy” triggers (20%?), and would be done so as to transfer zero or an absolute minimum number (if any) of aircraft related pilots to the surviving airlines. Transfers could also be made to other entities such as the proposed IAD to Madrid outsourced airline. Any such transfers would be made on a seat by seat process as opposed to sen iority with either United or USAir. Neither airline has airplanes that are deemed valuable. Other non-pilot transfers would also be held to a minimum. There probably would be no “merger” in a traditional airline sense. The administration and the “loyal opposition” seem to have accepted that either United, USAir, or both are not survivable entities. Interestingly enough, American is considered to be the next worse off airline. If American were to file Chapter 11, AND attempt to dump its pensions on the PBGC, the PBGC believes that it can go back 5 years and reclaim those pensions paid out to pilots. Highly speculative thoughts, however interesting. These ideas have come from sources that are currently associated with the two carriers in one form or another and admit that their thoughts are “speculative” in nature. Changes to these concepts would change as the political realities come to a head.
 
My question to our higher-ups at this point has been, "So, uh, how's our relationship with Continental these days?".

All signs seem to point to another UAL BK within the year; the first thing that should go when Ch. 11 is filed: Glenn Tilton. I keep hearing that UAL has a pretty good cash position, which one can assume would be helpful in a Ch. 11 filing, but this is the first time I've heard the words "Chapter 7 filing". Who knows considering Tilton and his cronies seem dead-set on destroying and dismantling the airline.



This message brought to you by the glory and greatness that is Troy's BBQ in St. George, Utah. Holy hell, those ribs were good...
 
...the first thing that should go when Ch. 11 is filed: Glenn Tilton. I keep hearing that UAL has a pretty good cash position, which one can assume would be helpful in a Ch. 11 filing, but this is the first time I've heard the words "Chapter 7 filing". Who knows considering Tilton and his cronies seem dead-set on destroying and dismantling the airline.

Tilton has to get his multi, multi million dollars before he goes you know. Isn't that the way it works?
 
My question to our higher-ups at this point has been, "So, uh, how's our relationship with Continental these days?".

All signs seem to point to another UAL BK within the year; the first thing that should go when Ch. 11 is filed: Glenn Tilton. I keep hearing that UAL has a pretty good cash position, which one can assume would be helpful in a Ch. 11 filing, but this is the first time I've heard the words "Chapter 7 filing". Who knows considering Tilton and his cronies seem dead-set on destroying and dismantling the airline.



This message brought to you by the glory and greatness that is Troy's BBQ in St. George, Utah. Holy hell, those ribs were good...




Why wait... If Tilton left now they might be able to get their act together and stay out of Ch. 7 or 11 !!
 
Truly rediculous. United- who would have thought they would have been in this sad of shape ten years ago? This only affirms my thought and opinion that no airline is safe- total crap shoot when it comes to longevity, employment, and "career expectations". I really hate it for the United guys............
 
I am sure all the UAL contracts would be re-bid and would go straight to MESA or PNCL.

-Never a shortage of bottom-feeders.
 
From the Majors Board....Discuss. Granted, rumor, but certainly a likely possibility...


UAL Rumor
I have no idea how much truth there is to this.

"Also according to Washington insider law firms, United has retained bankruptcy counsel. (Again) Thoughts are that it will be a Chapter 7 filing possibly as early as late 2009 or early 2010, with most assets going to STAR Alliance partners in such a fashion so as to avoid disruption of the Mileage Plus program (and others), the financial integrity of the STAR Alliance, and allow for transfer of other assets (aircraft, etc.) in such a fashion so as to avoid union “involvement” or interference. United owns very little at this point so it would merely involve termination of leases which is easy in either Chapter 11 or 7. Such transfers could involve number levels below “fragmentation policy” triggers (20%?), and would be done so as to transfer zero or an absolute minimum number (if any) of aircraft related pilots to the surviving airlines. Transfers could also be made to other entities such as the proposed IAD to Madrid outsourced airline. Any such transfers would be made on a seat by seat process as opposed to sen iority with either United or USAir. Neither airline has airplanes that are deemed valuable. Other non-pilot transfers would also be held to a minimum. There probably would be no “merger” in a traditional airline sense. The administration and the “loyal opposition” seem to have accepted that either United, USAir, or both are not survivable entities. Interestingly enough, American is considered to be the next worse off airline. If American were to file Chapter 11, AND attempt to dump its pensions on the PBGC, the PBGC believes that it can go back 5 years and reclaim those pensions paid out to pilots. Highly speculative thoughts, however interesting. These ideas have come from sources that are currently associated with the two carriers in one form or another and admit that their thoughts are “speculative” in nature. Changes to these concepts would change as the political realities come to a head.

This looks like something Holly Hegemon (sp?) would write. Recall, she predicted UAL would go Ch 7 within a year after 9/11.

I don't see how Star could get UAL's assets since Star isn't an airline, and half of its carriers are foreign (and Lufthansa is the only one with any money).

This whole thing sounds like a far fetched scare tactic put out by UAL management through a third party to scare the union into concessions.
 
This looks like something Holly Hegemon (sp?) would write. Recall, she predicted UAL would go Ch 7 within a year after 9/11.

I don't see how Star could get UAL's assets since Star isn't an airline, and half of its carriers are foreign (and Lufthansa is the only one with any money).

This whole thing sounds like a far fetched scare tactic put out by UAL management through a third party to scare the union into concessions.

There is no way in he|l that Obama is going to let United fail. There is a rather large connection here, follow me....Obama...Chicago....Chicago....United! Do you see the connection!??
 
There is no way in he|l that Obama is going to let United fail. There is a rather large connection here, follow me....Obama...Chicago....Chicago....United! Do you see the connection!??

Yeah- right...

Just wait and see. Airline workers are overpaid and they don't really have hard jobs-at least not in liberal democrats' eyes. You will see no bailout-airline workers have it too easy.

Obama is all about class warfare (the proverbial "one-trick pony.") Just ask anyone on the street what they think you make, and you will find out that you are really rich. People wil also gladly tell you that you don't really work for a living and that your time off amounts to about 3 weeks a month. (We are all just a bunch of overpaid "button-pushers"-except for Scully-of course.)

-Obama will not lift a finger to save a single "rich airline employee." Count on that!
 
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