Originally Posted by
fuzzball
Fact check contd.
Anti-merger sentiment was a clear-eyed look at the economics of AQ and knowing that a merger would have resulted in economic failure and everyone getting stapled somewhere. Even with $20million ASTB stabilization loan, AQ lost, what was it, $40 million? Still running 737-200s from the early '70s and hoping their competitor goes out of business wasn't working... We'd all have been career FOs, instead now the former AQ people are widebody captains at HAL, welcomed with open arms in 2008. Go figure.
Sorry, the above numbers are wrong. The ATSB loan was $40 million in 2003 and the net loss was $43 million.
So that was a $83 million deficit year (on revenue of, what 200M?) and management's hail mary was the merger. What happened next? 2004 bankruptcy, Banmiller, etc.
I say again: With the merger, none of our friends from AQ would be in the left seat of an A330 deciding where they're having ramen in Osaka tonight. So please don't describe the few wise men who organized against the merger as having been fuelled by hate, they were looking two moves ahead and wanted at least one local carrier to survive. Heck, as a newish guy I sorta thought the merger made sense, but when the numbers became available there was no ignoring the facts.