Originally Posted by
Finessed
You crack me up kid. He told us all what exactly? Nobody in the forums was predicting BK for American until earliest June/July 2021? The Boeing CEO prediction was non sense from the start once you open the books.
This is the problem with American, they have maxed out all of their liquidity and by doing that have killed their business. How are you suppose to make money paying back interest rates on over 42 billion dollars of debt with some as high as 10%?
Currently they are burning 25-30 million a day sitting on 14 billion of liquidity. Debtors would NEVER let them run through all of their liquidity. But doing the simple math that gives them 1 year and 195 days to burn through it all.
You may be right, but as a fellow double-breasted admiral I hope you’re wrong. American going into bankruptcy would be disastrous for everyone across the industry. Delta would immediately come crying to our MEC saying they needed lower pay rates to compete with AAs bankruptcy contract. We should be drinking a toast to all the legacies financial health, regardless of who we work for.