If it's merger, doesn't that give the YX folks a leg up from being assimilated? $450M loss in, what, 2 years? Yea...I dunno. I don't think we've seen the last act of the DAL/NWA/TPG/MEH saga.
Happy to see some people agree with me. TPG/NWA don't spend $450 million to block AirTran, write-off over $400 million in losses and then give the keys to a large regional airline for $31 million.
Just write-off the last 6.8% and be done with it.
The reason Independence Air failed was that they lost to much money building a market. Republic is being handed the MKE market with 25 years worth of loyal customers, a marketing department, reservations system, gates, slots into LGA-DCA, ...
Why help Republic become a national airline?
guess:
1. to make a low cost competitor for AirTran that feeds the Delta system.
2. build a new regional feeder system to get around the 76 seat scope language
You speak as if you have read the fine print. If so, CITE YOUR SOURCE, otherwise its a flawed opinion.
I'm just a pilot, but I can read the new SEC reports being released by Republic. The closed doors are coming open because Republic is a public company.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Completion of Acquisition or Disposition of Assets.
On July 31, 2009, pursuant to the terms of the Agreement and Plan of Merger, dated as of June 23, 2009, among Republic Airways Holdings Inc. (the “Company”), RJET Acquisition, Inc. and Midwest Air Group, Inc. (“MAG”), as amended (the “Merger Agreement”), RJET Acquisition, Inc. merged with and into MAG (the “Merger”)
Upon consummation of the Merger and pursuant to the Investment Agreement, on July 31, 2009, the Board of Directors of the Company voted to increase its size from five to six members and appointed Richard P. Schifter, a managing partner at TPG, to the Board of Directors of the Company
The principal business of Advisors V is serving as the sole ultimate general partner of related entities (including the TPG Midwest US V, LLC, a Delaware limited liability company (“TPG Midwest US”) and TPG Midwest International V, LLC, a Delaware limited liability company (“TPG Midwest International” and, together with TPG Midwest US, the “TPG Funds”)) engaged in making investments in securities of public and private companies.
Wow! I had no idea that there were so many levels to this. This is starting to read like a novel. I hadn't really paid that much attention to what went on on these boards for a long time, and I've obviously missed a lot.
This is going to be interesting. I have no idea whether Frontier, Midwest, and Republic will integrate or not. I've recently heard that Republic's pilot union is in total disarray, and yet Republic is getting ready to be part of the Star Alliance. I didn't know that much about the competing interests in all of this. I am now only hoping not to find a horse head in my bed.
Very much so, ACL. Kinda scarey. And I believe the game is afoot by the Reverend. Good luck all. Enjoy the rest of the weekend. Take care and KEEP SMILING!!
Yes, this RJET is very complicated and there are a lot of implications to what is going on. IMHO 95% of them are not good.
Does ALPA National and DALPA understand this deal ?
I mean... how much profit does Delta make on the connect flying done by Republic? If the answer is not alot...
...why not have Republic be a separate national airline (with no scope limits) feeding the Delta system and responsible for their own fuel costs. The Midwest code-share deal with Delta (only one-way) is the only one like it in the industry. Does it limit the "New Midwest" to serving Delta.
Why not have Republic pay Delta a fee for all passengers that connect into the Delta system and Republic keeps all the money on direct flights.
ALPA National needs to understand this deal because it could be undermining our profession.... it doesn't even make the fastread!!!
Does ALPA National and DALPA understand this deal ?
I think ALPA national is still either wondering how they allowed a contract to be ratified that had no enforceable scope language, or they don't care.
Let me ask, Assume you hired an attorney to represent you in a home closing. A few years after you had moved into and had been paying on the home, the original owner came and took it from you citing some closing document language that wasn't enforceable. Would you hire that attorney again?
I do not speak for ALPA, but IMO the errors made have not gone unnoticed.
The hope is that BB has bitten to much from the apple, and will not be able to deal with all that he has bought.
ALPA has a way to right this with the merger and integration with F9 and republic. If I were a RJET pilot, I would be working very hard to get away from the teamsters, but that is just me.
ALPA has a way to right this with the merger and integration with F9 and republic. If I were a RJET pilot, I would be working very hard to get away from the teamsters, but that is just me.
Assuming ALPA was brought on property, combined with the usual dragging out of contract talks, BB could have bought and sold F9 in that time period making it all a wash anyway. ALPA would not have been able to do a single thing about it.
All true, but the ALPA pilots fare better if he goes and sells republic tp a ALPA carrier and keeps F9 and MEH.
That or he can sell it all make a ton of cash and walk away. I am sure there are two or three airlines that would love to buy that mess.
Being ALPA would help you in an integration with everyone.
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