CAL Risks Inadequate Liquidity

[InclusiveScope]

Reuters
Continental Risks Inadequate Liquidity
Thursday January 6, 10:37 am ET

CHICAGO (Reuters) - Continental Airlines (NYSE:CAL - News) on Thursday said failure to achieve $500 million in annual wage cost reductions by Feb. 28 could result in inadequate liquidity.

The Houston-based No. 5 U.S. carrier said in a government filing with federal regulators that it expects it would lose hundreds of millions of dollars in 2005 under current market conditions without cost cuts.

The airline, which had previously said it needed to trim the $500 million from its labor costs, warned that failure to cut costs could force the reduction of its fleet and employee furloughs.

 

[FlyChicaga]

Scare tactics.

 

[Insatiable]

That didn't take long, Gordon's been gone only five days

 

[I.P. Freley]

Continental Airlines (NYSE:CAL - News) on Thursday said failure to achieve $500 million in annual wage cost reductions by Feb. 28 could result in inadequate liquidity.

Oh, man, that's HILARIOUS. "Inadequate Liquidity"!?!?

How about:

"Our pile of money is of insufficient bigness"?

 

[On Your Six]

What about down payment on shiney, new 7E7s? Will that cover your liquidity problem?

 

[LJDRVR]

What about down payment on shiney, new 7E7s? Will that cover your liquidity problem?

EXACTLY!

 

[LoveGun]

Gordon is such a fake. He took control of CAL after previous management teams did all the wage and cost cutting in bankrupcy. Bethune took over CAL when it was the lowest cost legacy carrier in the nation and then rode the wave of the best economy in the history of the United States. His plan for surviving the industry downturn was to burn through cash generated from spinning off COEX, a subsidiary of CAL operated by B scale employees, and wait for another major airline to liquidate.

I wouldn't be surprised if Gordon took over at US Airways since the bankrupcy dirty work at U is nearly over.

 

[Dangerkitty]

Gordon is such a fake. He took control of CAL after previous management teams did all the wage and cost cutting in bankrupcy. Bethune took over CAL when it was the lowest cost legacy carrier in the nation and then rode the wave of the best economy in the history of the United States. His plan for surviving the industry downturn was to burn through cash generated from spinning off COEX, a subsidiary of CAL operated by B scale employees, and wait for another major airline to liquidate.

I wouldn't be surprised if Gordon took over at US Airways since the bankrupcy dirty work at U is nearly over.

I agree. I find it ironic that after 9/11 Gordon and CAL management went against all the policies and procedures that he claimed made them great in his BS book, "From Worst to First." The guy is a blowhard.

 

[RSRVWINDSURFR]

Gordon is such a fake. He took control of CAL after previous management teams did all the wage and cost cutting in bankrupcy. Bethune took over CAL when it was the lowest cost legacy carrier in the nation and then rode the wave of the best economy in the history of the United States. His plan for surviving the industry downturn was to burn through cash generated from spinning off COEX, a subsidiary of CAL operated by B scale employees, and wait for another major airline to liquidate.

I wouldn't be surprised if Gordon took over at US Airways since the bankrupcy dirty work at U is nearly over.

BINGO! Too bad CAL wasn't left with Brenemann.........