What will happen?
God forbid, but if US went CH7 - what would happen?
Any chance one of the other biggies would pick up US via a pre-arranged bankrupcy (like AA picked up TWA)? UA is probably too weak, but would be the most logical. I can't image the FAA putting up the same anti-trust concerns that they did before (it's an election year, after all).
Obviously, there are some real assets - the shuttle, overseas slots, certain airport slots, etc... Will these all be sold piecemeal? Will it be an auction? Or will the FAA step in and resell the slots?
One more thought. Ford spun off Visteon (the parts company), so they could offload the expensive union force and purchase from any vendor that can come up with cheaper parts. Airlines tend to be inefficient vertical companies. Any chance US would become 'virtual'? Spin off the mechanics, the baggage handlers, the reservation center, etc., etc.. Each of these companies could then bid on competitor's work. It would be a lot more efficient if you had one company handling all bagage off loading at a small airport, rather than mutliple work forces from multiple airlines. Meanwhile, USAirways, as a virtual company, could persue whatever contracts are most cost effective - giving them the latitude to reduce costs. Any chance of this happening?
Any thoughts?