Originally Posted by
DAL4EVER
Sorry if you took my "best of luck" to be a terrible post.
9E has nearly $300m in cash and short/long term investments. They have one of the strongest cash positions of any regional as I recall. That's where the money is "dude".
Now, tell me Rama, if 9E doesn't have money, what kind of position are you in to get an "industry leading" contract that I've heard the 9E pilots advocate for FIVE years? Where will the money come from?
Perhaps I misread the financials on 9E, and if so, please correct me. You're either in a position to extract additional cash from Pinnacle because they have it or you're not. I think they have it. But that also means, they could ride out a strike if mother Delta tells them to play hardball. That was my post. Either way, my only care is not for you, but for your pilot group. I want you industry leading. Bring the industry up. Sorry if that's terrible.
9E does not have $300M in cash/liquid investments. Read the latest 10K. We DID have $300M about 18 months ago before purchasing Colgan, stock buybacks at a cost basis of $16/shr (now trading around $2.50) and dumping $120M+ into Auction Rate Securities that are now illiquid. There was also some bond issuances for some -900's, and losses absorbed from Colgan until they could become profitable (which only happened last quarter or the one prior). I think the actual number is closer to $50-60M without pulling up the 10K. There are also some issues with striking built into the ASA so mgmt has some problems if they just let us storm off.
Of course nothing official has been issued by the NMB yet.