Its sort of a sad day. Yea the rank and file should have taken some more cuts, but then again lets not forget that Bonner put up 240 mil for a sizeable chunk of the carrier. How much of that was he willing to forgive? (As head od a pension fund). What about the the taxpayers how much are we are the line for , lets not forget the 900 mil loan that the Govt backed( I think only a portion of that has been taken used. The govt has to wait to see where it sits in line that a judge will decide0. Im very interested to see where Bonners group sits. As much as I bash the unions(and rightly so) I cant help but feel that Bonner wont come out losing on this.
Then theres the ol story that still applies, just too many carriers providing the same product and they all arent needed any more. there has to be some Chap 7s that will happen. No different than musical chairs when the music stops someone will be OUT. I guess the only way to prevent it will be to go back to Regulation something that nobody wants. America West did a GREAT job in changing itself and so far surviving. ATA is in big trouble so being a discounter doesnt mean you'll be at the finish line. I just dont see the need for US, especially after WN went into PHL, the only place that will need a new domiant carrier will be CLT, Im sure the sharks are gathering on the sides for that one.
dont get me wrong its a pity when any corp goes under. Look at the car companies, we really only have left GM & Ford over here as US comps. The Unions did a great job in making sure that happened as did mgmt who thought they would NEVER see the day when a Japan etc would over take 'em. Mgmt and the Unions killed the auto industry and if they keep it up they will repeat history and add the airline industry to that. When will they ever learn.