kommutrdog
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Republic wins the auction!!!
- Thread starter stratus72
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joevollers
rockingthenotsofreeworld
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arjayeffo
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to some
To the few SWA pilots who have given us a genuine 'good luck' I hope to hell I can still buy you a beer at one of our shared hotels someday. I was never an enemy of any pilot, only skeptical of the true intent of the deal. In the beginning it looked promising...in the end it got too ugly to ever be a good thing for either pilot group. This really is the best result for both of us.
I have no idea what's in store for me in the 'New Republic' but since I am fairly certain that stapled, furloughed F/O at SWA didn't pay very well, I will take the 'promise' from BB for 3 more years at my current contract and do what I can to make it five or ten.
With that now said, the most entertaining part of this news BY FAR, is reading all of these other SWA pilots who (unfortunately by the fact that they are the loudest) give the rest of your great pilot group a black eye. They are practically knocking themselves out trying to impress anyone who will listen, what a huge mistake we made, what we passed up, and what's in store for us in a year. They seem unable to type fast enough how much luck we are going to need. They are like the guy who thinks he is the shizzle and just got turned down by the dumpy little fat chick at the bar... "You'll never know what you missed, baby..."
I may still be dead in a year, but as of this afternoon I can die with some dignity.
To the few SWA pilots who have given us a genuine 'good luck' I hope to hell I can still buy you a beer at one of our shared hotels someday. I was never an enemy of any pilot, only skeptical of the true intent of the deal. In the beginning it looked promising...in the end it got too ugly to ever be a good thing for either pilot group. This really is the best result for both of us.
I have no idea what's in store for me in the 'New Republic' but since I am fairly certain that stapled, furloughed F/O at SWA didn't pay very well, I will take the 'promise' from BB for 3 more years at my current contract and do what I can to make it five or ten.
With that now said, the most entertaining part of this news BY FAR, is reading all of these other SWA pilots who (unfortunately by the fact that they are the loudest) give the rest of your great pilot group a black eye. They are practically knocking themselves out trying to impress anyone who will listen, what a huge mistake we made, what we passed up, and what's in store for us in a year. They seem unable to type fast enough how much luck we are going to need. They are like the guy who thinks he is the shizzle and just got turned down by the dumpy little fat chick at the bar... "You'll never know what you missed, baby..."
I may still be dead in a year, but as of this afternoon I can die with some dignity.
MILF Hunter
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your talking about 5 maybe 10 people
inflightboi175
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- 151
heres another article from the chicago tribune
JOSHUA FREED AP Airlines Writer 8:42 p.m. CDT, August 13, 2009
Republic Airways Holdings won the bankruptcy court auction for Frontier Airlines on Thursday, buying the Denver-based carrier for almost $108.8 million after Southwest Airlines Co.'s rival bid was rejected.
Southwest said its $170 million bid was deemed unacceptable because the carrier would not back down from a requirement that its pilots and Frontier's work out their integration before the deal would close.
Frontier said Republic made several improvements to its original June bid and has already received federal antitrust approval for the deal. A bankruptcy judge had approved Republic's earlier bid but left open the door for another bidder.
Frontier said the plan calls for it and regional unit Lynx "to maintain normal operations" as a stand-alone Republic subsidiary. Because of that, Denver travelers may see little change. But the deal is huge for Republic.
Until now, Indianapolis-based Republic has strictly been an operator of regional jets for big airlines like Delta, United, and US Airways. Now, between Frontier and its recent purchase of Milwaukee-based Midwest Airlines, it's jumping into the business of competing for passengers and setting its own schedules and prices.
That may not be so bad, said Jesup & Lamont Securities Co. airline analyst Helane Becker.
Republic is well-run, she said, and anyway the old regional airline model is suffering as big carriers squeeze their regional partners and cut capacity, including regional flights.
"The major airlines can just crush these guys like a bug" in the regional business, she said.
Republic's bid has it buying all of Frontier Holdings when that company emerges from Chapter 11 protection, which is expected later this year. It also agreed to waive any recovery on its $150 million general unsecured claim. The plan calls for current Frontier shareholders to receive nothing.
"Frontier has made impressive strides in returning to sustained profitability in a challenging and uncertain economic environment," Republic Chairman, President and CEO Bryan Bedford said in a written statement.
Republic had loaned money to Frontier during its Chapter 11 reorganization, which began in April 2008. In June it offered to buy Frontier out of bankruptcy.
Southwest's surprise bid, which eventually reached $170 million including repayment of Republic's loan, looked likely to win. Southwest had enough cash to simply write a check for Frontier, and it had the motive. Southwest has turned Denver into one of its key airports, but it faced strong competition both from Frontier and UAL Corp.'s United, which has a hub there. Buying Frontier would have eliminated one of those competitors outright.
In a written statement, Southwest Chairman, President and CEO Gary Kelly called the potential Frontier deal "a great opportunity that required us to act fast. A lot of people worked very hard with every intention of making this work."
But in making its bid Southwest insisted that pilots agree first on how they would integrate their so-called seniority list, the ranking that determines pilot scheduling and layoff order.
The same issue delayed Delta Air Lines Inc.'s purchase of Northwest last year, and it has held up the integration of US Airways Group Inc., which was purchased out of bankruptcy protection in 2005 by America West but still doesn't have a merged pilot workforce.
Negotiations between Southwest and Frontier pilots took place by video-conference on Wednesday, according Carl Kuwitzky, president of the Southwest Airlines Pilots' Association. They broke off around midnight. Kuwitzky said the Southwest pilots wanted the Frontier aviators put at the bottom of the seniority list. For pilots in an airline merger, that's considered the worst possible outcome.
"Seniority is all-important. Seniority is life," Frontier Airline Pilots Association President John Stemmler said on Thursday night after Republic won the bidding.
"I'm pleased that the process worked the way it did. I think both of the options had their advantages for the pilot group," he said. "The Republic deal allows for our entire active pilot group to remain employed, and that's a good thing."
JOSHUA FREED AP Airlines Writer 8:42 p.m. CDT, August 13, 2009
Republic Airways Holdings won the bankruptcy court auction for Frontier Airlines on Thursday, buying the Denver-based carrier for almost $108.8 million after Southwest Airlines Co.'s rival bid was rejected.
Southwest said its $170 million bid was deemed unacceptable because the carrier would not back down from a requirement that its pilots and Frontier's work out their integration before the deal would close.
Frontier said Republic made several improvements to its original June bid and has already received federal antitrust approval for the deal. A bankruptcy judge had approved Republic's earlier bid but left open the door for another bidder.
Frontier said the plan calls for it and regional unit Lynx "to maintain normal operations" as a stand-alone Republic subsidiary. Because of that, Denver travelers may see little change. But the deal is huge for Republic.
Until now, Indianapolis-based Republic has strictly been an operator of regional jets for big airlines like Delta, United, and US Airways. Now, between Frontier and its recent purchase of Milwaukee-based Midwest Airlines, it's jumping into the business of competing for passengers and setting its own schedules and prices.
That may not be so bad, said Jesup & Lamont Securities Co. airline analyst Helane Becker.
Republic is well-run, she said, and anyway the old regional airline model is suffering as big carriers squeeze their regional partners and cut capacity, including regional flights.
"The major airlines can just crush these guys like a bug" in the regional business, she said.
Republic's bid has it buying all of Frontier Holdings when that company emerges from Chapter 11 protection, which is expected later this year. It also agreed to waive any recovery on its $150 million general unsecured claim. The plan calls for current Frontier shareholders to receive nothing.
"Frontier has made impressive strides in returning to sustained profitability in a challenging and uncertain economic environment," Republic Chairman, President and CEO Bryan Bedford said in a written statement.
Republic had loaned money to Frontier during its Chapter 11 reorganization, which began in April 2008. In June it offered to buy Frontier out of bankruptcy.
Southwest's surprise bid, which eventually reached $170 million including repayment of Republic's loan, looked likely to win. Southwest had enough cash to simply write a check for Frontier, and it had the motive. Southwest has turned Denver into one of its key airports, but it faced strong competition both from Frontier and UAL Corp.'s United, which has a hub there. Buying Frontier would have eliminated one of those competitors outright.
In a written statement, Southwest Chairman, President and CEO Gary Kelly called the potential Frontier deal "a great opportunity that required us to act fast. A lot of people worked very hard with every intention of making this work."
But in making its bid Southwest insisted that pilots agree first on how they would integrate their so-called seniority list, the ranking that determines pilot scheduling and layoff order.
The same issue delayed Delta Air Lines Inc.'s purchase of Northwest last year, and it has held up the integration of US Airways Group Inc., which was purchased out of bankruptcy protection in 2005 by America West but still doesn't have a merged pilot workforce.
Negotiations between Southwest and Frontier pilots took place by video-conference on Wednesday, according Carl Kuwitzky, president of the Southwest Airlines Pilots' Association. They broke off around midnight. Kuwitzky said the Southwest pilots wanted the Frontier aviators put at the bottom of the seniority list. For pilots in an airline merger, that's considered the worst possible outcome.
"Seniority is all-important. Seniority is life," Frontier Airline Pilots Association President John Stemmler said on Thursday night after Republic won the bidding.
"I'm pleased that the process worked the way it did. I think both of the options had their advantages for the pilot group," he said. "The Republic deal allows for our entire active pilot group to remain employed, and that's a good thing."
And just what were your expectations when you took your job as Delta's Bitch????? Bitch!
Richard Gozinya
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CA Calypso
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Heavy Set,
No one that I know viewed any of the F9 pilots as "lowly." Almost everyone here would have welcomed them and their work ethic with open arms. However, we were not willing to sacrifice one SW pilot in the process. Why should our most junior pilots be among the first to be furloughed when we are only purchasing 80% of Frontier? The pilots of the carrier being auctioned should bear that risk.
Say what you want about SWA: They may be ruthless competitors - but they take care of their own. Perhaps if your last carrier did the same, you would not be "thanking goodness that you got out of the airline business." Enjoy the challenger and your new life - I hope it brings you great happiness.
The Victors...get your facts straight!!!
Republic was not fired from F9 due to terrible customer service, F9 could no longer afford to pay for the service.
F9 will not fly for Regional, they are owned by a holding company, who happens to owns regional and national airlines
Welcome to the Republic Family Frontier!!! And has a Chautauqua employee and aviation geek, I am glad your airline will live on, and I will continue to see the beautiful Animal tails, instead of the WN tails
Republic was not fired from F9 due to terrible customer service, F9 could no longer afford to pay for the service.
F9 will not fly for Regional, they are owned by a holding company, who happens to owns regional and national airlines
Welcome to the Republic Family Frontier!!! And has a Chautauqua employee and aviation geek, I am glad your airline will live on, and I will continue to see the beautiful Animal tails, instead of the WN tails
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