PHXFLYR
USAir by default
- Joined
- Feb 5, 2003
- Posts
- 2,177
Cactus73 said:PHXFLYR,
I think you are starting to believe Parker's (the real one) speeches lately. Just two months ago he was saying that we were no where near bankruptcy and he had plenty of access to the financial markets for cash if we got into a crunch later in the year. He clearly needs to paint a dire picture at this point in order to get the ATSB and the Court to approve his merger.
Don't write off our profit just because it was based on fuel hedges. Southwest would have lost a significant amount of money if it weren't for their fuel hedges.
I would agree that we aren't in the best of financial shape, but I don't think we are as close to bankruptcy as Parker claims.
Our cash position has actually been building over the first six months. It doesn't matter that this is happening due to fuel hedges. We have more cash than we owe on our ATSB secured loan. USAir has significantly less cash than they owe on their loan. This balance sheet difference is substantial.
Would we be bankrupt in six months? Only Parker and his team have access to the books. Let's let our investment bankers determine if he is correct or not before you buy his line.
The recent statements by Parker are so opposed to what he has said in the past that you must question his motives.
As for the Doug Parker guy on this board. He's an ass to suggest a staple or anything unfair. He's no different though than the furloughed guys on here claiming some sort of career expectation to be in the top 5% in the next 5-10 years.
We need a fair and equitable list with fences. We have to all be able to work together when the dust settles. The only way this is going to happen is if we all sit back and let our merger committee's and/or and arbitrator work out a new list.
Who knows, maybe Southwest will offer a billion of their cash up for gates and planes and scuttle the deal. PLEASE Southwest, help us!
No I'm not. I've been here for 8 years now and I just can't help but wonder why we haven't been profitable on a consistent basis. I mean these people don't pay the going rate for anything, be it employees,infrastructure,aircraft leases, heavy checks,facilities, etc. You would think that would translate into boo-koo bottom line over and over,but it never really did. I really think this thing is structured alot like TWA was in the 50's and early 60's where it was all owned by Howard Hughes. Only our "Howard Hughes" was David Bonderman and his cronies at TPG who sunk just enough money in this thing over the years to keep it "above the water mark". Now he is using this merger to cut his losses and run. You know, I'm reaching the point whereI don't give a damm where I end up on the senority list. Just watching these USAir folks getting used to the AWA of doing business might be worth the aggravation and heartbreak in sheer "entertainment value" alone .
PHXFLYR
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