APA Proposal Posted

[General Lee]

TWA Dude,

Just some observations:

1.Delta didn't buy a debt-ridden airline like TWA.

2.Delta has more cash on hand (most borrowed) than any other
Major---cash is king

3. Delta only has ONE union--ALPA---and can cut costs at any
other employee group without asking

4. We do not have hardly any exposure to the SARS epidemic in
ASIA---because we dumped most of our Asian routes except
1 flt---ATL-NRT. AA, NW, and UAL are hurting---the picture of
the AA 777 at SJC airport with a quarentine (SP?) doesn't help

5. We have plenty of CRAF flying to cover our Europe shortfalls,
as does AA and UAL

6. We have more RJ's and flexibility than any other airline

7. We have a plan to fight the LCC's, and will start flying it April
15th---well ahead of any major--and AA still doesn't have a
plan. Yes, our LCC name does suck--but the plan is solid

8. The War will be over soon---we are taking Baghdad Intl airport
right now

9. We will get some sort of aid from the Gov't---and it will help
somewhat--which is better than nothing--it all adds up on the
bottom line

10. Our stock price is higher than any other major (except SW),
which helps with our market cap.

I am not trying to to put anyone down here, but rather stating that while Chap 11 could come into play here at Delta, we are far better off than most airlines. Yes, our leadership didn't help the situation with the $$$ deals, but never the less we are better positioned than most.

Bye Bye--General Lee

 

[TWA Dude]

General Lee,

Yes, today of course DAL is in much better shape than the others. The point was that if it comes to it Mullin would take DAL into Chap 11 regardless of his personal financial stake. I wish y'all the best but I wouldn't bet that DAL pilots keep making 40% more than the rest for very long.

 

[General Lee]

TWA dude,

There is no way we will make 40% more than anyone else. Those days are over. But, we won't give anything away unless it is proven that we need to. But, we will give some back---no doubt.

Bye Bye--General Lee

 

[80drvr]

I don't think that APA should get 100% of our Capt. vacancies. one for one may work. I am going on four years with eagle and don't see an upgrade in sight. I am sure our MEC will vote this down.

Dude, I think you need to reexamine this statement in the context of what's going on in the world and at your company. We're at war, your employer is teetering on BK and thousand of AMR pilots are on the street. Everyone at AA is moving backward and taking a huge paycut if they're among the lucky to keep a job.

AMR/APA negotiated this TA as the framework for a restructuring. What that means to you is that without the flowback, this TA fails and the company files an 1113(e) in BK to negate your contractual provisions that interfere with the implimentation and you get it rammed down your throat. This TA passes and you get similar flowback provisions bet get to keep what little contractual protections you have. So, if it passes, your worst case scenario will be stagnation with furlough protection. If it fails, kiss the furlough protection goodbye in BK

The reason that what you'll see structurally is similar pass or fail, is that this restructuring is part of AMR's business plan now and it is fundamental to the terms of financing from Citibank to get us through 2003/4. This is a #$% sandwich for everyone in the airline industry right now.

Until the economy improves we're all along for the ride. This won't last forever and once AA starts involuntary widebody assignments and recalling again, you'll upgrade in a hurry!

 

[80drvr]

Just an observation: Don Carty also has mega-millions tied in to AMR stock. The BOD ordered him to take AMR into Chapter 11 on Monday afternoon. Only a delay in securing DIP financing prevented it from happening -- and then the APA came to an agreement.

TWA Dude,

The AMR BOD is Carty's lapdog. The APA decided to fold and is trying to save face.

 

[80drvr]

TWA Dude,

Just some observations:


6. We have more RJ's and flexibility than any other airline

7. We have a plan to fight the LCC's, and will start flying it April
15th---well ahead of any major--and AA still doesn't have a
plan. Yes, our LCC name does suck--but the plan is solid

Have you seen AA's TA? WE ARE A LCC NOW! Don't get me wrong...I'm not happy about it. I think our new mantra is going to be SWA +1%.

 

[flaps30]

stock price

Gen Lee, a stocks actual price per share cannot be compared to other airlines stock price. Its apples and oranges, you have to ask some other questions, how many outstanding shares are there, P/E ratio, ect. Comparing a $10 Delta stock, $4 AMR, and 30$ JBLU doesn't show anything.

 

[TWA Dude]

TWA Dude,

The AMR BOD is Carty's lapdog. The APA decided to fold and is trying to save face.

**YAWN**

Instead of making yourself feel better by bashing your own union, why not give some rationale for your opinion that life will be so much rosier with the bankruptcy judge and creditors' committee dictating the pilots' contract.

Numerous experts and advisors convinced the APA BOD that practically anything is better than Chap 11, so if it can be prevented then try to do it. What do you know that bankruptcy attorneys don't?

 

[80drvr]

I'm not bashing the union. I'm just calling it like I see it. The union is a political animal and covering one's ass is the nature of the beast. Only time will tell if APA made the right call or not. We'll never know whether they could have spent another hour on the equity/duration or not.

As far as the APA BOD goes, Carty calls the shots and the BOD rubber stamps it.

 

[Dennis Miller]

Have you seen AA's TA? WE ARE A LCC NOW! Don't get me wrong...I'm not happy about it. I think our new mantra is going to be SWA +1%.

Hate to asskick ya with a dose of reality but you guys couldn't afford SWA + 1%.