US Airways Files for Bankruptcy Protection

[vc10]

Continental went twice---and almost a third time.

http://www.transformingusairways.com/html/restructuring/index.html

he states that:


None of the above went Ch.11 TWICE (to my knowledge)

good luck to the employee's

 

[Reelbigfish]

"
Honest question: what's $2.5 billion of Goodwill?

My wife's an accountant, and she said that it can also occur if US Airways bought another company and paid more than the fair value of that company's net assets-net liabilities. The $ amount paid above that number becomes goodwill on the purchasing company's books.

 

[Billy Madison]

Who files Chapter 11 on a Sunday anyway?

Oh yeah, they did it on a Sunday last time too.

Billy

 

[satpak77]

indeed it did

and many thanks to Bethune's leadership

 

[sf3boy]

Well, I for one hope that the US Airways survives, even if it means having the pilots, fa's, and ground crews working for $0.00/hour. The $718 million of the $900 million out of the taxpayers pockets' needs to be returned.

Management at US Airways has shown that it can not be trusted with the keys to the safe. Time for the creditors to appoint new management over there.

 

[satpak77]

Bronner - nice guy - circa August 2004

Back in August, Chairman Bronner himself had little hope for the airlines continued existence in a second bankruptcy.

http://www.post-gazette.com/pg/04231/363350.stm

 

[squall line]

contract flying

So what is your take on the contract flying being done by MESA, TSA and the like? In my mind, Airways cannot afford to let them go, but in CH 11, they do have the ability to drop those contracts, right? Any ideas???

Thanks

SL

 

[V-1]

Good luck to all who have connections with UsAir.

 

[Justino]

So should I not apply to Colgan? Or other US Air regionals?

 

[lowecur]

So what is your take on the contract flying being done by MESA, TSA and the like? In my mind, Airways cannot afford to let them go, but in CH 11, they do have the ability to drop those contracts, right? Any ideas???

Thanks

SL

UAIR will go after a major overhaul. If any airline is still interested, the Shuttle and various other assets will be for sale. UAIR can keep $125M cash from the sale, but the remaining notes will be used to keep Bombardier and Embraer happy as they will continue to supply a/c. The new pilot contract will include the addition of the 190/195 for MidAtlantic. This would be an additional order of 25-50 a/c. They will keep the Airbus fleet, but the Boeings will be going.

The final picture should have a fleet of Airbus' flying under UAIR banner, and the RJ70's and E-jets under the MidAtlantic heading. I have my doubts that UAIR will keep the proprietary regional ownership. I think they will continue to use the contract carriers for any regional flying into PHL and Charlotte. I think this is very profitable business for them, and mgt wants to shrink their exposure to union membership for the pilots, mechanics, and FA's.

As usual, the only winners from the pilot group will be the senior people. Many of the existing CA's for the Airbus' could be bumped by more senior people from the Boeing a/c as they are retired. These people will be offered jobs with MAA at a substantial reduction in pay. You think maybe those 4 discenting MEC members from PIT just might be senior enough to avoid MAA? Now you know why male tigers eat their young.