Midwest getting new aircrafts????

[Ty Webb]

After reading 9 pages of this crap, let me state the obvious:

• That was 15 minutes of my life I will never get back

• AirTran reportedly paid in the $30M range for the aircraft, and at an interest rate of "less than 5%" (believe it or leave it). Selling those options in today's environment is probably a smart move, much like selling a boat in the summer, before a Fall furlough.

• Last time I checked, we're all pilots, and anyone who thinks they are somehow wiser, smarter or more virile simply by virtue of which airline hired them is not an "idiot savant", but just a "garden-variety" idiot, in my book.

• A rising tide lifts all ships, and the current environment is lousy for all pilots. We're all in this together; how about treating your colleagues with respect . . . . you've got a lot more in common with them than you do the management responsible for this Industry buffoonery.

Over and Out.

 

[carl p]

After reading 9 pages of this crap, let me state the obvious:

• That was 15 minutes of my life I will never get back

• AirTran reportedly paid in the $30M range for the aircraft, and at an interest rate of "less than 5%" (believe it or leave it). Selling those options in today's environment is probably a smart move, much like selling a boat in the summer, before a Fall furlough.

• Last time I checked, we're all pilots, and anyone who thinks they are somehow wiser, smarter or more virile simply by virtue of which airline hired them is not an "idiot savant", but just a "garden-variety" idiot, in my book.

• A rising tide lifts all ships, and the current environment is lousy for all pilots. We're all in this together; how about treating your colleagues with respect . . . . you've got a lot more in common with them than you do the management responsible for this Industry buffoonery.

Over and Out.

Well said!

 

[jravi8tor]

inlight of everything going on in our industry wth a lot of uncertainty and speculation.... the cookie monster is always here to brighten your day!

http://www.jibjab.com/sendables/share_view/3S8XzXAuNrWAUcgjntSPKMxW

enjoy!!!

 

[CitationLover]

inlight of everything going on in our industry wth a lot of uncertainty and speculation.... the cookie monster is always here to brighten your day!

http://www.jibjab.com/sendables/share_view/3S8XzXAuNrWAUcgjntSPKMxW

enjoy!!!

enjoy the big raise today fellow 6/11er's. enjoy it for 3 more days.

 

[FlyWolf]

inlight of everything going on in our industry wth a lot of uncertainty and speculation.... the cookie monster is always here to brighten your day!

http://www.jibjab.com/sendables/share_view/3S8XzXAuNrWAUcgjntSPKMxW

enjoy!!!

lol, nice

Thanks for the laugh jravi8tor

 

[Lowrider717]

And just what did nine pages accomplish.

Thats what I thought.

 

[CitationLover]

And just what did nine pages accomplish.

Thats what I thought.

you just described 99.9% of the threads on here.

 

[GOULET!]

Midwest Airlines explores restructuring plans

Consultant firm to create plan to help cut costs

By TOM DAYKIN
[email protected]

Posted: June 13, 2008

Oak Creek-based Midwest Airlines Inc., facing record prices for jet fuel, is working on a comprehensive restructuring plan that could result in additional service and job cuts.

Midwest has hired aviation consultant Seabury Group to help create the plan, according to a memo to employees from Chairman and Chief Executive Timothy Hoeksema. He told employees the restructuring work will be completed within several weeks.
Midwest and other airlines “are facing extremely difficult times,” Hoeksema said in the memo.
Airline spokesman Michael Brophy said Friday that details of what Midwest is considering would not be released at this time.
“Just like every airline in America, we’re having to take a look at everything in our operations,” Brophy said.
Midwest and other carriers are reducing routes and trimming jobs because of soaring fuel costs. In April, Midwest said it would cut 109 employees, amounting to a 3.5% work force reduction. Most of the service cuts are scheduled to take place after the peak summer travel season.
Hoeksema, in his memo, said Midwest began dealing with fuel price increases several months ago. “We had a good plan in place at that time, and we made initial progress,” Hoeksema said. “But our situation, driven by rapid and unpredictable spikes in oil prices, worsened. So we are accelerating the development and execution of a comprehensive restructuring plan.
“I remain confident that we are up to this challenge. But it requires an ongoing commitment to execution and a sense of urgency among each and every employee when it comes to customer service, operations and every area of the airline,” he said.
New York-based Seabury Group provides investment banking, financial advisory, restructuring and other consulting services for the transportation and logistics industries, according to the firm’s Internet site.
In the restructuring area, Seabury’s record includes serving as investment banker and principal restructuring adviser to Northwest Airlines Corp. from 2005 to 2007 in its restructuring and emergence from Chapter 11 bankruptcy. Northwest owns a 47% stake in Midwest Air Group Inc., the corporate parent of Midwest Airlines, with investment firm TPG Capital owning the majority stake.
Seabury also was an adviser to US Airways Corp. in its emergence from Chapter 11 and merger with America West Airlines in 2005.
The Seabury plan for Midwest could include a negotiation for lower lease rates on Midwest’s aircraft, said aviation industry consultant Scott Hamilton. Midwest’s main fleet is leased from aircraft maker Boeing Co.
Also, there will likely be additional service cuts, particularly Midwest flights to less profitable leisure destinations, said Hamilton, who operates Leeham Co. of Issaquah, Wash.
Midwest may not have much room for additional flight cuts, said Capt. Jay Schnedorf, chairman of the Air Line Pilots Association’s Midwest unit.
“The airline has already downsized,” Schnedorf said. “I have serious concerns as to their ability to downsize much further and realistically expect to remain a viable operation. You can’t shrink to profitability.”
The pilots union has asked for detailed financial information to prepare for a presentation by Seabury, Schnedorf said. But Midwest executives haven’t been willing to provide that information, he said.
The company wants to suspend its contributions to the pilots’ pension plan for at least one year and impose a wage freeze, Schnedorf said.

 

[IdRtherBsailing]

I strongly feel that this is TPG sending in the Bobs (office space). I don't think Tim would hire these guys, its like admitting failure.

 

[CitationLover]

i've got one cost saving suggestion. every two weeks i get a check for $0 mailed to my house. is this really necessary?

usually bringing in a consultant for efficiency is a sign of an impending merger or sale. eagle brought bain in and a year later they were for sale. perhaps it ain't TPG but NWA/DAL bringing them in.