Frontier will ground 7 planes and reduce by 17%

[stratus72]

By no means am I wishing to put a damper on your chances of survival. I read that you have seen some numbers that indicate you have a good chance of making through this.

The only caution I would add is that you ask yourself if you believe in the business plan going forward. Who is giving you the information and do you really believe them.

I too, used to work at an airline that went head to head with SWA. In the end I hung around waiting for some grand plan (as we were told) to be enacted that would save us. Even after I left, I still never believed that their liquidation was a possibility. But there I was a few months ago staring a the news ticker reading about the demise of a great group of guys.

By waiting around, all I really did was waiste about of year hanging on when I should have been moving on. Unfortunately, now, there doesn't seem to be too many places to move on to.

I'm sorry if my pessimism adds to you anxiety. I'm not picking on F-9, I think we are all in deep sh!t right now. Maybe you guys will get bought out and see a fair integration somewhere. I really do hope that fuel prices drop and the economic conditions dictate that we all get to keep out jobs (with better contracts). I'll be in Vegas next week, should I bet on oil dropping?

I'd like to believe we have a shot; however, i could see what happened to your former airline happening to us. I don't think our management and Union is feeding us a line of crap. They never once said we were out of the woods. Infact, what little we hear isn't super positive, but does point to us surviving. That in itself says alot to me. We're all unsure of the future. Just hoping for the best but expecting the worst.

 

[Old School 737]

Buddy of mine is a CPT there at Frontier and he had the new CEO on his jumpseat a while ago. Buddy asks if they are going to sell more airplanes than the original 3. Response was that they were not going to shrink their way to profitability. Now they are selling more aircraft and my buddy has lost confidence and is looking for a overseas job before the rest of the pilots snag them up.

 

[bluepost]

From an outsider looking in....everyone at F9 should be looking for a job. Not an attack...I like Frontier and know a couple guys there...but your too close to the fire. If Frontier goes down it will be lucky to be front page news on the money section, except in Denver they will dissappear without a trace.

F9 SIC = 8 Track repairman in 1982...took my dad until 1993 to believe 8 tracks were not coming back...

 

[Fubijaakr]

I was in the Navy using the F9 CV-580 sim the day they busted the first time. We were there on day 3 of a 5 day program.

The first two days were ops normal. No indication that anything was wrong at F9. Day 3 we showed up at 6 am and the gates were locked.

 

[T-prop]

Nevermind

 

[Donsa320]

I was in the Navy using the F9 CV-580 sim the day they busted the first time. We were there on day 3 of a 5 day program.

The first two days were ops normal. No indication that anything was wrong at F9. Day 3 we showed up at 6 am and the gates were locked.

Wow, never knew there was a simulator for the CV-580. We did everything in the airplane at North Central. What level sim was it, if you know? Full motion, landing credits, etc.?

DC

 

[Lampshade]

Operating loss for the month of May was $16.5mil, with a net loss of $22.0mil.

Cash on hand at the end of May was $110.1mil, up from $99.8mil from the end of April, and reflects a $59.1mil gain from the sale of property. Of the cash and cash equivalents, $100.5mil is considered restricted. (10 mil unrestricted )

This loss is in addition to previously reported $16.5mil foss for the last 20 days of April.

Can anybody confirm this?

 

[radarlove]

That's two weeks of unrestricted cash left at the current burn rate.

$110 million seems like a lot of money, but not when you have to get creditor permission to spent $100 million of it and you're burning almost $17 million per month.

I think the fat lady just left the dressing room.

 

[Lampshade]

They may have some cash in assets that they can sell and they have there leases paid 60 days out I think. So we'll see.

 

[labbats]

I hate to see F9 do poorly. I've jumpseated a few times with them and spoken with several others over the years. Great people and a great airline.

Yet it seems to me that selling airplanes after going bankrupt is a lot like selling off Park Place and Reading Railroad in Monopoly. You are buying time but the odds are against you. Nevertheless it would be great to see Frontier make it.