Who will be next????

[flyinloki]

At this rate there won't be any better jobs and I took this job to get my 1000 pic in the first place. Unfortunately at this rate that won't happen but at least I am making salary. If I suddenly lost this job I would have to find a new one within a month or have to work at McDonalds because I got plenty of bills. Netjets ain't just going to call me a day after I submit a resume after all!

 

[Whale Rider]

Atlas Air

 

[Rouge Warrior]

Netjets ain't just going to call me a day after I submit a resume after all!

But FlexJet will

 

[landlover]

But FlexJet will

4 months till hiring picks up. believe me, i'm trying.

 

[belchfire]

Heard Frontier is almost out of cash.

Frontier has always lived with one foot on a banana peal and one in the grave, they don't know how to do it any other way-though they were better off with the all 737 fleet-at least IMHO...the airbii things will start nickle and dime-ing them to no end before long.

My guess is that since recovery from post 911 bankruptcy the majors will start crying foul again-they should have raised ticket prices for fuel costs two years ago-plead for more lenient merger considerations after getting the mandatory concessions from all their loyal employees yet again (while CEO's dust the wreckage of a once respectable company off their high dollar suits and leave with millions in their pockets ) then we see one of the smaller carriers-Jet Blue or someone close shop.

Mesa is another of the cockroaches that may survive the coming disaster but with pending lawsuits, an eminently crooked CEO, dissatisfied codeshare partners and encumbered with leases on increasingly inefficient RJ's they may very well be the next to fail-though JO probably needs some time off to polish the rims on his motorcycle collection anyway. While it would be tragic to think of one of those fine machines being damaged, were he himself to end up under the wheels of a truckful of illegals would indeed be poetic justice!

Meanwhile people that still have jobs will keep buying cheap crap from the PRC that due to short lead times will have to come by air-UPS and Fedex will do well but face increasing competition from non-aligned long haul airfreight haulers. Perhaps Southern Air flying in Wal Mart colors or something...

 

[AV80R]

My money is on Frontier.

Hope they'll pull it through but Frontier did file chapter 11.

 

[belchfire]

Hope they'll pull it through but Frontier did file chapter 11.

Gad, I was hoping to see Mesa go away first!

Regardless, I bet that the restructure sees a payscale degredation for the working stiffs and a payout in cash for the brain trust that led them there...

It really wasn't that long ago in Japan if a company fell upon rough times that the leaders would fall on their own swords instead of robbing the workers out of what was left of the company.

 

[cherry20's]

Hope they'll pull it through but Frontier did file chapter 11.

Here we go again... Who's next?

 

[dc10maniac]

DENVER, Colorado (AP) -- Frontier Airlines sought bankruptcy protection Friday, the fourth carrier to do so in the past several weeks as exorbitant fuel prices eat into earnings and a weak U.S. economy keeps more people grounded.

Frontier Airlines Holdings Inc. said Friday it has filed for Chapter 11 bankruptcy protection.

Frontier says it will continue operations as it reorganizes.
The low-fare carrier said it was forced into bankruptcy after its principal credit card processor said it would begin withholding a greater share of proceeds from ticket sales.
The Chapter 11 filing in U.S. Bankruptcy Court in New York prevents the credit card processor from increasing its "holdback," Frontier CEO Sean Menke said.
"By filing for Chapter 11, we will now have the time and legal protection necessary to obtain additional financing and enhance our liquidity. Fortunately, we believe that we currently have adequate cash on hand to meet our operating needs while we take steps to further strengthen our company," Menke said in a statement.
ATA Airlines, Skybus and Aloha Airgroup all have filed for bankruptcy in the past two weeks, but Menke said Frontier's reasons for doing so were different.
"Unfortunately, our principal credit card processor very recently and unexpectedly informed us that, beginning on April 11, it intended to start withholding significant proceeds received from the sale of Frontier tickets," he said. "This change in established practices would have represented a material change to our cash forecasts and business plan. Unchecked, it would have put severe restraints on Frontier's liquidity and would have made it impossible for us to continue normal operations."
He said Frontier Holdings Inc. was prepared to litigate, if necessary.
The creditor listed in bankruptcy court documents as having the largest general unsecured claim against Frontier by far was Wells Fargo, with $93.5 million. Frontier said it had fewer than 50 creditors.
At the end of last year, Frontier said, it had assets of $98.3 million and debts of $92.2 million.
A Frontier spokesman said earlier this week the airline had "no concerns about bankruptcy" but added that it was working on strengthening its cash position.
Last month, Frontier said it had agreed to sell four planes to counter rising fuel costs.
Frontier opened in 1994 with less than 200 employees and two planes that flew between its home base of Denver and three cities in North Dakota.
The airline now has about 350 flights to dozens of cities and employs about 6,000 people.
Menke took over Frontier last year and said the airline, like other struggling in the rough economic climate, would seek to boost revenues in new ways.
Menke said earlier this year that he would look into a la carte pricing, charging more for specific services.

Frontier competes with Delta Air Lines, Northwest Airlines, American Airlines, United Airlines and Southwest Airlines. Almost all of the carriers have sought new revenue sources, such as additional fees for checking a second bag.
Frontier shares lost most of their value in premarket trading Friday, tumbling $1.27 to 30 cents each

 

[TWA]

EOS just became another winner.