the "L" word?

[Jetjockey]

We all live in glass houses. (Some more like a house of cards). Precarious times indeed.

Wait to the European carriers push for phase II of open skies.

 

[Cardinal]

Sheesh, come home from a trip only to discover that the CW has declared the emminent demise of my employer, and the stock is off another 14% just for the heck of it.

FRNT:
Just ended the quarter running at about 170 mil in cash. Lost 30 mil last quarter with a bad operation and ramping up fuel. Slated to do much better operationally over the next few quarters with a smaller fleet and better network/utilization, but higher fuel will totally offset that improvement. Assume a 30 mil loss for the next three quarters, total of 90 million. Sold four aircraft, if there was an average of 7.5 mil in equity per, that's a net of 30 mil. (perhaps a generous number, average fleet age is only 3.6 years) Change in cash position of -60 mil, thus ending the year at 110 million, which is a hair under 10% of revenues. That is without any other cash generation efforts, and significant equity remaining in owned aircraft. Slim, but not disastrous, and I don't know of any big items that would need to be refinanced and thus cause heartburn or crisis during the period. Credit markets are certainly fubar, but EETCs and other vehicles of aircraft financing are about the furthest thing from a subprime loan, and the worldwide aircraft market is extremely robust. Aircraft are very good collateral at the moment.

It'll be tight, but we can survive the year and the obstacles which are visible.

 

[Terry Hunter]

Sorry Colonel, I just cant keep the link up here...

Wow... my link was just a parody; I didn't actually think that it was an actual site.

 

[JoeBoy26]

After the presentation from the TRB, some people were talking and most agreed they thought the airline being referred to was Delta. Since nothing was official, I see everything as being heresay at this point. However, I there was this post a couple days ago referring to some "suspicious activity" w/DAL's balance sheet.

http://forums.flightinfo.com/showthread.php?t=110721

Who knows what it's actually all about....but I agree with Jester, all 121s seem to be in trouble. cheers

 

[Andy]

Who knows what it's actually all about....but I agree with Jester, all 121s seem to be in trouble. cheers

After seeing what happened to CAL's cash on hand, there's not a single 121 carrier save Southwest that's safe.

 

[Skank]

fair enough. This was from a CAL V.P.

At least it's more specific than Gordon's accusation that we smoke "ragweed." That one had me wondering for a while...