Old 05-24-2020 | 09:23 AM
  #18  
ERflyer
Gets Weekends Off
 
Joined: May 2012
Posts: 1,418
Likes: 0
Default

Originally Posted by Yoohoo1
They can try if they want - however, using history as a guide. Post 9-11, we were in an active contract and took three annual pay raises. Then pre-bankruptcy we took a 32 % pay cut and work rule concessions. In bankruptcy, another 14.5 % pay cut and more work rule concessions. The point is - until bankruptcy was a realistic and imminent threat, work rules and pay did not change. We are in a much stronger financial position than post 9-11 and will come out of this. No concessions!
Exactly.
- We will have $12B cash on hand by June 30th.
- We have access to another $12B cash from multiple sources if needed. (CFO: $7-8B unencumbered assets and the $4.6B US government loan.)
- The CFO says we will probably be break even on cash flow by December 31st.
Reply