Originally Posted by
vtx531
y" furloughs? I think they did because this place is going to liquidate if they follow the Bloch award. Otherwise they would have been better off just keeping the status quo or maybe looking for more growth to offset the losses on the Saabs and Qs.
I think this place is going to die otherwise and I don't think the banruptcy judge will allow that. But maybe. Who knows...
Why do you think they would liquidate?
The company has $30 million in cash and EVERY fleet type as of 4/02/2012 is making a profit. From the bankruptcy declaration PNCL has a new rate agreement with Delta for the 900 wind down, 140 200s and the original Mesaba 900's which produced higher margins.
The United wind down agreement called for higher margin as well in the understanding that PNCL would continue operating the Q400 until the wind down was complete.
So in 1 day the company solved their liquidity crisis and negative cash flow crisis.
Everyone keeps freaking out about 600 Colgan guys coming to fly RJs and the training that will take. Only 300 guys in reality are going to the RJ from Colgan. The other 300 will be furloughed.
300 * 25k/training even = $7.5 million.