Originally Posted by
CaptDave
I’ve seen something similar to this with republic back in 2016. Company was refusing to give a contract forever and ten days and then declared ch 11. Stocks/shares dropped overnight and they eventually were delisted from NASDAQ, too.
The debt that RAH had ran up was discharged and negated so the company was able to start showing profit margins in the black again. Then, the new contract was announced as a “Last, best, final offer” (take it or leave it) type thing.
Also, I don’t think furloughs are coming. If the company has or does stop hiring, it might be due to having no LCA’s available to get people signed off and flying the line.
Then again, I could very well be wrong. Guess time will tell.
That is not at all how that went down with Republic. The new contract was signed well in advance of the bankruptcy filing and not touched during ch. 11. The company wanted all labor disputes settled before filing in order to ease the restructuring process. VERY different game from what's going on with Atlas. Republic made it clear the pilots were very much part of the future success of the company while Atlas seems to be playing a much different game.