Midwest getting new aircrafts????

[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.

 

[jravi8tor]

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

same here! i believe this is their way of informing us we're still on furlough. they could at least send a "care" package of cookies every now and then!

 

[FlyWolf]

I really hope TPG sends in the Bobs (or take any action at this point).

 

[CitationLover]

same here! i believe this is their way of informing us we're still on furlough. they could at least send a "care" package of cookies every now and then!

yes it is the ole timmay reminding us of what losers we are.

flywolf: are the senior wh0res still picking up OT and bragging about their 100+ hours of credit? someone should smack their momma's.

 

[jravi8tor]

I really hope TPG sends in the Bobs (or take any action at this point).

i second that! send in the bobs to replace all the BOOBS....

 

[FlyWolf]

yes it is the ole timmay reminding us of what losers we are.

flywolf: are the senior wh0res still picking up OT and bragging about their 100+ hours of credit? someone should smack their momma's.

FO wise there is no open time at all, but it is a totally different story in the Capt side, a capt told me they have two pages of open time, I am sure the wh0res from the left seats are picking up open time, they are ja'ing captains a lot also.

 

[deadstick]

they could at least send a "care" package of cookies every now and then!

After seeing that jibjab video, I never want to see another Midwest cookie. You just never know where they've been.

 

[FlyWolf]

lol , its nasty

 

[Propsync]

I really hope TPG sends in the Bobs (or take any action at this point).

Wow, Wolf, you sound really down. Hang in there as much as you can, if it's the end I hope for all yous guys sake that make it fairly quick and painless. Doubtful, but that's what I hope for.

CL- At this point, I don't think picking up opentime really matters. I agree with the principal of not doing it, but I don't think it will change the outcome. If Tim and the crew can't restructure 40 aircraft and whatever Skywest does at this point, I don't see where this firm will do anything more than find buyers for Midwest's assets (NW).

 

[CitationLover]

Wow, Wolf, you sound really down. Hang in there as much as you can, if it's the end I hope for all yous guys sake that make it fairly quick and painless. Doubtful, but that's what I hope for.

CL- At this point, I don't think picking up opentime really matters. I agree with the principal of not doing it, but I don't think it will change the outcome. If Tim and the crew can't restructure 40 aircraft and whatever Skywest does at this point, I don't see where this firm will do anything more than find buyers for Midwest's assets (NW).

the point of not picking up open time is nothing about operations but simply the fact of a simple notion of coming together of the pilot group.

and yes JA'ing HURTS midwest more than OT as we have NO OT premium versus a 50% premium for JA'ing.

 

[Propsync]

the point of not picking up open time is nothing about operations but simply the fact of a simple notion of coming together of the pilot group.

and yes JA'ing HURTS midwest more than OT as we have NO OT premium versus a 50% premium for JA'ing.

I know, CL. I'm just saying that most see the end here, and it doesn't make a difference. What good is unity if you have nothing to be unified about?