chapter 7 liquidation
Dec 14, 2002, 6:31 pm
#2
Join Date: Dec 1999
Location: Matthews, NC
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Holly's analysis is always interesting, and well informed (although I haven't been a subscriber of her's in a while - and you should have been around for PlaneBusiness's message boards - the shutdown of those boards by Holly led to the creation of USAviation.com - and to further stray off topic - it used to be that the poisonous threads there were TWA-AA issues, where on USAviation it's US). And if US can't get the concessions they need from the remaining unions, then she may be right.
But everyone has an opinion - and her's is one of many.
But we all need to take a wait and see on this - the next few weeks are key, and then we'll all have a better idea of what's going to happen.
But everyone has an opinion - and her's is one of many.
But we all need to take a wait and see on this - the next few weeks are key, and then we'll all have a better idea of what's going to happen.
Dec 14, 2002, 7:27 pm
#4
Join Date: Nov 2000
Location: Greenfield, NH
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by no upgrade for u:
Holly Hegemon of Plane Business has predicted the imminent demise of US via Chapter 7 liquidation because of failure to meet revenue goals in the business plan</font>
Holly Hegemon of Plane Business has predicted the imminent demise of US via Chapter 7 liquidation because of failure to meet revenue goals in the business plan</font>
Dec 14, 2002, 8:44 pm
#6
Join Date: Jul 2000
Location: The First State, USA - Bonvoy Gold, Honors Gold, Hyatt Discoverist, IHG Gold - FWIW
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by TomBascom:
Missing revenue goals is no surprise -- they haven't lifted a finger to address the revenue side of the equation. Unless you count chasing away passengers with ever more arcane rules and restrictions...</font>
Missing revenue goals is no surprise -- they haven't lifted a finger to address the revenue side of the equation. Unless you count chasing away passengers with ever more arcane rules and restrictions...</font>
Dec 14, 2002, 9:11 pm
#7
FlyerTalk Evangelist
Join Date: Dec 2000
Location: PHL, NYC
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I though that the US Q3 earnings showing an operating profit to be promising. Get these labor deals hammered out and keep the shop lean. Then those operating profits may translate into net profits.
Dec 14, 2002, 9:27 pm
#8
Original Poster
Join Date: Dec 2002
Location: Okinawa, Japan
Posts: 85
sorry, but there was no operating profit in q3. There was a press release that stated they had an operating profit in October, but I think that is to be taken with a large grain of salt.
a. its unaudited, and never will be audited
b. who knows what kind of funky accounting they are using as a chptr 11 company in regards to leases, etc.
c. October is supposed to be the best month anyway, with a combination of high yields and traffic.
The yokel from Alabama is doing no one a service with his pompousness. He needs to shut his mouth. I'm glad he isn't investing my funds, regardless of what anyone says, this investment in U is very risky.
a. its unaudited, and never will be audited
b. who knows what kind of funky accounting they are using as a chptr 11 company in regards to leases, etc.
c. October is supposed to be the best month anyway, with a combination of high yields and traffic.
The yokel from Alabama is doing no one a service with his pompousness. He needs to shut his mouth. I'm glad he isn't investing my funds, regardless of what anyone says, this investment in U is very risky.
Dec 15, 2002, 12:30 am
#10
Original Member
Join Date: May 1998
Location: CT (NYC Suburbs), Gulf Stream, FL
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Posts: 3,089
If you simply read their press releases on operations, and specifically the amount of cash they report, then do the math with the same figure from the prior month, you can see the cash burn is beyond their current ability to bring revenue in the door. Failure to reverse that only leads one place.
Dec 15, 2002, 8:03 am
#11
Join Date: Dec 1999
Location: Matthews, NC
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by cure:
On such a bright note, by a very savvy lady, can US miles be transferred into the Hilton or Starwood programs? Does it have any partners with whom reward tickets could be reserved?</font>
On such a bright note, by a very savvy lady, can US miles be transferred into the Hilton or Starwood programs? Does it have any partners with whom reward tickets could be reserved?</font>
Dec 15, 2002, 11:42 am
#12
Join Date: Aug 2001
Location: Boston, Freefall: Chairman's Preferred -->Steerage Status
Posts: 667
You can only assume that US Airways is still in constant communication with the ATSB, and that the latest concessions from labor meet the ATSB's requirements for the loan guarantee.
This certainly argues against Chapter 7, and or a successful emergence from Chapter 11 in March (providing Labor plays along).
This certainly argues against Chapter 7, and or a successful emergence from Chapter 11 in March (providing Labor plays along).
Dec 15, 2002, 2:08 pm
#13
Suspended
Join Date: Apr 1999
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Posts: 4,129
IMHO, Holly is wrong on this one. US has already achieved additional labor concessions in light of the reduced revenue, and is wrapping up final agreements with the IAM, CWA, and the other workgroups soon to allow for a successful re-emergence from Chapter 11 sometime next year.
Make no mistake: At this point, UAL is by far the weakest member of the Chapter 22 Alliance.
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Thank you for choosing Continental Airlines, a proud member of the SkyTeam Alliance.
Make no mistake: At this point, UAL is by far the weakest member of the Chapter 22 Alliance.
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Thank you for choosing Continental Airlines, a proud member of the SkyTeam Alliance.
Dec 15, 2002, 11:22 pm
#15
Join Date: Aug 2001
Programs: CO Infinite Plat, UA Lifetime 1K, AA EXP, US(ex-CP), VX, DL, Hilton Diamond, Marriott Plat, SPG Gold
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Warrenlm:
Hmmm, given the thread and the time of year, anyone know what the IRS accepts as the value of donated miles?</font>
Hmmm, given the thread and the time of year, anyone know what the IRS accepts as the value of donated miles?</font>