Comair headed for bankrupcy

[norskman2]

BINGO! \DO NOT DRINK THE COMPANY KOOL-AID!

Read the ACA thread http://forums.flightinfo.com/showthread.php?threadid=33535

Lear70 is right: more management scare tactics. NWA openly and very publicly threatened to take away the Avros from XJ to try and get the pilots to knuckle under in their contract talks.

This is nothing new and is as old as collective bargaining's been around.

 

[FSB99]

y'all bring up valid points, and good conversation. but don't beat the original poster, or call him stupid! it was indeed said by the 'esteemed ceo' of xjet. of course it's b.s., as explained by you folks above.
not all of us, myself included, are as informed as we should be on the state of affairs at other airlines. i knew comair was wholley own subsid, but, didn't realize that means it's not incorporated on its own.. i'm not an economics grad, but rather an ill-informed pilot! (or, as our faithful leader describes me, a poor silly pilot)
thanks for clearing up the typical management smoke!

 

[jarhead]

FSB99

Just to clarify......I did not call the original poster 'stupid'. I said the concept was beyond stupid. That would apply more to the CEO who mouthed the 'rumor'

 

[sleepy]

ASA and Comair are both incorporated. There is one sharehold that owns all of the ASA and Comair stock, DAL.

I agree though, I don't see how either one of us could file Ch 11 on our own.

 

[lazy8s]

Well, I heard from my brother's sister-in-law's cousin's uncle's ex-wife's daughter's dog that Comair was selling a fraction of an airplane to pay for new tires on the CFO's kid's high performance go-kart.

And you can take that to the bank!!



Lazy8s

 

[Ponchus pilot]

Ponchus, you are being played like a cheap fiddle. Your CEO is not too subtley trying to get you guys to lower your contract expectations

No I'm not. I usually dont believe anything management says.( I will research it non the less) I was merely trying to find out what the financial situation at Comair was. I did not even know that Comair was not a publicly traded company. Thanks for the info anyway.

 

[nimtz]

Unfortunately this typifies the ignorance the Xjet Pilot Group tends to have towards the industry. Reminds me of last year when many guys were asking me who Pinnacle was and whether it was true Pinnacle was only created by management to whipsaw Mesaba. Ever hear of a little airline called Express I fellas.

Take the time to read-up on what is going on around you. The actions of others (from politicans to teamsters) has gigantic ramifications on you're own career. Unfortunately there are probably still some out in our own group who are so clueless that they will start to buy the complete BS Ream is starting to feed us. Hey anything to help you out Jim, after all you'll help me pack my bags when I leave.

 

[DDpaysoff]

No I'm not. I usually dont believe anything management says.( I will research it non the less) I was merely trying to find out what the financial situation at Comair was. I did not even know that Comair was not a publicly traded company.

Apparently neither did your CEO. As far as the financial situation at Comair, lowest published casms in the industry and we have done a good job of cutting costs since those numbers were published and we are told by MEC that we will continue to work with managment regarding cost reductions wherever possible EXCLUDING our current PWA. Since profits vary greatly by quarter, based on my own DD I would guess 60 million for the two good quarters 40-48 for Q3 and 30-40 for Q1. Conservative estimate of 190 million a year exluding Capex which we really don't have for a.c. because delta finances the rj's. Looking at XJT numbers it doesn't look like you guys do either. Good luck in your negotiations, we are definately behind you guys, I have friends over there and they have been talking about your next contract since the beginning of 2001. I think it is your turn to run with the torch.

 

[AFELLOWAVIATOR]

There was an article in the Cincinnati Enquirer about the company (Comair) was trying to get those over-paid Comair pilots to take pay concessions. If the pay concessions were not agreed to, the company may be put into a position to declare bankruptcy sometime in the future.

Simply put..."We are making money hand over fist, and we want to make more money, so we will play the media tactics."

One of my local Comair friends said his nieghbor yelled at him for being an over-paid asshole trying to close down Comair and wreck the local economy. I guess the media Kool-aid works.

I write columns for several papers, but the Enquirer will not accept a truthful column or comment from me about the Comair situation.

There has been articles in the Cinn. papers about concessions, but NO ONE was ever quoted saying we might go bankrupt.

Your boss was meerly attempting to scare you with a lie.

I hope you see this for what it is.

 

[standaman]

Must be on some heavy drugs.

 

[Tim47SIP]

To amazing!

Why would a CEO tell such a blatent rediculous lie. He knows himself that Comair is a WO. He knows that this lie would be disputed. I just cant believe that a person in his position and status in his company would resort to such idiotic and outlandish statements. Surely he knows that he is responsible for statements he makes. That is about the same thing as saying that all of the regional carriers pilots have secretly decided to undercut Mesa, so for us to be competitive, we have to do the same or we will have to shut down CX. Wow! (Sort of sounds like Skerry )

 

[FDJ2]

Cmr will be as profitable or unprofitable as DAL wants them to be. DAL provides the revenue and DAL determines what costs Cmr pays. JMO, but I very much doubt DAL will bankrupt their WO subsidiary. Whether Cmr will get anymore growth, or be spunoff is a different question, but bankruptcy is very doubtful.

 

[AviatorTx]

Comair pilots are holding the line!

You guys and gals did yourselves and the rest of the industry a huge favor by not taking concessions. You have done your part. Hang in there. Be ready for the big Delta to come after you one more time for concessions when they get them from their pilots though...

It's now time for us XJT pilots to do our part and raise the bar even further. If our CEO thinks for one second I will settle for ANYTHING less than Comair, he can go fu*k himself!

 

[captjim]

Our CEO here at XJT said today that Comair is headed for bankrupcy and that what they offered us on our contract is what Comair will have after concessions. is there any truth to this. This was said at the shareholders meeting today.

Ream never said that Comair was going bankrupt. He did say that the network that Comair is in is headed towards bankrupcy(read Delta). Listen to the video on the CALALPA website.

Case closed!

 

[ShyFlyGuy]

How about using a question mark!

Isn't that a question? Shouldn't YOU use a question mark?