U.S. Airways to cut 600 jobs

ACL65PILOT

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IMHO if they do not get their financial house in order and quick, this is the tip of the iceberg.
 

OurMoney1

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IMHO if they do not get their financial house in order and quick, this is the tip of the iceberg.

Exactly....I dont think Airways has been in this much trouble since Siegel did his tour de give me everything I am asking for and a kidney. The collision alarms are sounding.
 

MK82Man

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so what's new

That's the East/USAPA mantra – bankruptcy before accepting the Nicola award. Management continues to milk the discord to the last day and the East guys are playing in the band. When the company goes into CH 11 again, there will be no comin’ out, hello CH 7. The 2500 East pilots will drag the other 26,000 employees down with them. The West is powerless to stop it since the East controls the union, truly the last time, there will be nobody else to blame. With the DFR language (USAPA is guilty) being finalized in Judge Wake’s court now; the East will be scrambling to put a good face on it. There is no reasoning with the East, the Majority out there has given up control to the angry few and further degradation in the work rules and pay are sure to follow, there will be no new contract in this environment, the Kirby modest increase is just a pipe-dream now. Bankruptcy III for the new US Airways. How sad for what was a great opportunity in May 2005 … 4 years ago. Thanks for nothing USAPA.
 

ACL65PILOT

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I agree, but this is bigger than pilot issues. They are in violation of their bankruptcy covenants. They are in default of some very large accounts. Solving the pilot issues would not solve this.
 

Colonel Savage

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I agree, but this is bigger than pilot issues. They are in violation of their bankruptcy covenants. They are in default of some very large accounts. Solving the pilot issues would not solve this.
LCC pays $800,000/day in debt service alone.
 

tzskipper

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I agree, but this is bigger than pilot issues. They are in violation of their bankruptcy covenants. They are in default of some very large accounts. Solving the pilot issues would not solve this.
Do you have a link to any facts backing up this statement? As far as I have read, LCC ended the quarter with roughly $2.25b in cash/receivables. Of that, approximately $1.7b is unrestricted. No substantial debt payments due until 2014.

S
 
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