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Delta Bankruptcy Here it Comes

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I cannot imagine another major in bankrupcy would be good for the public or the employees, save a couple of things: 1) bring into parity the legacy carrier costs (whether high or low), which would ultimately (long-term [for this industry, <10 years]) benefit the consumer and let airlines compete on service, just like pre-1978; 2) give a NWA/DL merger a better chance though it would have questionable benefits and obstables to both parties and consumers; 3) allow carriers to seek better terms from creditors without having to resort to more financial shenanigans on employees or their benefits.

On the whole, no more bankrupcies would be preferable, as would the the passing of the pension funding bill proposed in Congress (extends catch-up payments), lessening fuel and user taxes on carriers (as passed thru expenses to consumers), streamlining the TSA and using the tax dollars for increasing ATC and airport capacity (better use of trust fund), and closing loop holes or questionable provisions in the GAAP that allow for so much financial maneuvering that does nothing but hurt all stakeholders in times of retricted business capital.
 
I'm not excited about this!

I found the the info on yahoo airline news.

Hell I've been here 7.5 years and have 16 left until I have to retire. I thought ASA was my last stop. This weekend I updated my resume and filled out the Continental app. I'm looking for a place to go!

701EV
 
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VABB said:
But at least everytime I open my mouth, I'm not excited and giddy about a major airline going out of business. You guys need to realize and learn who buttering your bread. Delta goes, you go. And probably straight to Mesa.
So can you quote one line or even a word in this thread that hints that anyone is actually looking forward to or is excited about Delta going bankrupt? Or was this just something you pulled out of your @ss?
 
Just because an airline goes bankrupt does NOT mean doom for that airline or its regional affiliates!!! It is a way to reorganize your finances - PERIOD! There will, of course, be changes. If a carrier comes through in better shape, then there is more hope for the future. However, regional pilots are already affordable due to our already low C-scale wages, and our companies still provide an absolute necessary service to our mainline partner. Everyone needs to stop getting their undies in a bundle!
 
That is true. IF IT HAPPENS,(I have to put that in there) sure, there will be some pay cuts and parking of unprofitable or gas guzzler airplanes, but there will also finally be some lease renegotiations and some creditor concessions. The employees have given $2.3 billion so far, and the creditors have given $100 million. The pension problem will either go away (gone) or we will get an extension from Congress. That will be an elephant off of our back. The debt will be trimmed, and ASA/Comair will be sold, but retained as lift. The debt associated with all of the RJs will be gone. Management will be held accountable to the judge. And, it will give us time to pay off some bills (credit card companies etc). But, again, I will see another pay cut, and that is the way it is.


Bye Bye--General Lee
 
79%N1 said:
It is a way to reorganize your finances - PERIOD!
"reorganize" is a fancy word for "go back on your word to creditors." Sure, I told you'd I'd pay you that much every so-and-so, but I've changed my mind. It's too hard now. From now on, I'm only gonna pay you this much, and only every this-and-so often.

Oh, really? You mean if I cut my payments to you, you won't be able to meet your obligations? Well, let me tell you about this "reorganize" trick. :rolleyes:






.
 
It's an excuse for airline managements to extract as much from the pilots and others as possible. If they really wanted to avoid bankruptcy, they would raise fares. It is informal collusion between all the managements, and as soon as they have what they want- wham- they're raising fares, and making money. The pilots won't see what they lost for many years. ALPA should strike now. All of us. Peace out-
 
;)I think that VABB only comes out to play when he forgets to take his MEDS! What a jack@ss!
 
Oakum_Boy said:
It's an excuse for airline managements to extract as much from the pilots and others as possible. If they really wanted to avoid bankruptcy, they would raise fares. It is informal collusion between all the managements, and as soon as they have what they want- wham- they're raising fares, and making money. The pilots won't see what they lost for many years. ALPA should strike now. All of us. Peace out-

That's exactly right. Don't forget to mention the round of bonuses and pats on the behinds they'll all get!
737 out!
 

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