Originally Posted by
Puros
Bankruptcy is a real possibility for USAirways and it is surprising none of the east pilots understand what is going on around them. From what it seems here, there is no recognition at all of an impending bankruptcy as speculated by many analysts, and the evasion of their seniority arbitration seems to be immortal (in their minds). When your revenue is down 21% yoy there aren't many quarters you can keep this up, and LCC's cash is getting low. I bet they are chapter 11 by December with a bankruptcy judge combining the pilot group- the one remaining part of a merger announced four years ago- by the early spring. Forget contract ratification and all of the silly arguments about ALPA vs. USAPA. If you are a USAirways pilot, two events are on the horizon: pay cuts and Nicolau seniority.
I believe there is a third possibility. US Airways is sold in pieces - the Shuttle, the West operation and the East operation. Parker wants consolidation and he wants to bring shareholders some cash. Look at all the Wall Street raiders - they split a struggling company in pieces to get the most out of the deal.