View Poll Results: Will AA declare bankruptcy?
Yes
219
70.65%
No
91
29.35%
Voters: 310. You may not vote on this poll
Bankruptcy
01-07-2021, 04:05 PM
#31
Banned
Joined APC: Nov 2020
Posts: 459
Originally Posted by sanicom3205
https://www.forbes.com/sites/tedreed...h=17a77b125b7e
American accepted another federal loan, while Delta took on debt backed by SkyMiles. This is after taking a $5.4 billion federal loan through the CARES act. You're truly concerned about how one airline financed debt versus another? I don't know what you're trying to argue here.
Attacking my grammar doesn't make you look smart. It's yet another example of your pathetic fabrication when you're backed into a corner and can't think of anything else to say. Anyone reading can judge my grammar for themselves. You look like a fool
American accepted another federal loan, while Delta took on debt backed by SkyMiles. This is after taking a $5.4 billion federal loan through the CARES act. You're truly concerned about how one airline financed debt versus another? I don't know what you're trying to argue here.
Attacking my grammar doesn't make you look smart. It's yet another example of your pathetic fabrication when you're backed into a corner and can't think of anything else to say. Anyone reading can judge my grammar for themselves. You look like a fool
Oh btw that Forbes article is from MAY 2020. You’re such a sorry clown 🤡 .
Last edited by Finessed; 01-07-2021 at 04:16 PM.
01-07-2021, 04:55 PM
#32
Gets Weekends Off
Joined APC: Nov 2011
Position: A320 Capt
Posts: 5,293
Originally Posted by Finessed
Not hoping for them to fail, but getting tired of the morons living in denial, and would love the conversation pointed towards restructuring plans rather than idiotic “flow” talk.
01-07-2021, 05:22 PM
#34
Eating A Gruben
Joined APC: Feb 2020
Posts: 1,065
Originally Posted by Finessed
Oh btw that Forbes article is from MAY 2020. You’re such a sorry clown 🤡 .
“Airline Shares Ended 2020 Down, But The Sky Did Not Fall And American Bankruptcy Chatter Turned Out To Be Nonsense”
Same author, writing this to essentially say “I told you so”. Sorry the date he wrote the first article didn’t please you though. Hopefully two weeks old is fresh enough for your liking?🤡 🎩 🤡 🎩 🤡 🎩
https://www.google.com/amp/s/www.for...-happened/amp/
01-07-2021, 06:38 PM
#35
Banned
Joined APC: Nov 2020
Posts: 459
Originally Posted by sanicom3205
“Airline Shares Ended 2020 Down, But The Sky Did Not Fall And American Bankruptcy Chatter Turned Out To Be Nonsense”
Same author, writing this to essentially say “I told you so”. Sorry the date he wrote the first article didn’t please you though. Hopefully two weeks old is fresh enough for your liking?🤡 🎩 🤡 🎩 🤡 🎩
https://www.google.com/amp/s/www.for...-happened/amp/
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.
Last edited by Finessed; 01-07-2021 at 07:01 PM.
01-07-2021, 09:11 PM
#36
Gets Weekends Off
Joined APC: Jul 2014
Posts: 257
Originally Posted by Finessed
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.
The problem is now they've got double digit bond yields, they need something to which to refinance that. That's not sustainable.
01-07-2021, 11:39 PM
#37
Gets Weekends Off
Joined APC: Mar 2019
Posts: 930
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.
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.
01-08-2021, 05:11 AM
#38
Gets Weekends Off
Joined APC: Jul 2014
Posts: 257
Originally Posted by 20Fathoms
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.
Or, all of the USAir guys demanding super seniority over regional pilots.
Or, all the APA stapling the TWA guys.
Funny how perspective changes when the machine gun splashes are walking up to your lifeboat.
01-08-2021, 05:41 AM
#39
Eating A Gruben
Joined APC: Feb 2020
Posts: 1,065
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.
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.
Finessed, it's clear to everyone why you're here. At the end of the day, no one knows how this will play out. Regardless of that fact, you "would love the conversation pointed towards restructuring plans". You believe our company is going to go away, that we are all going to lose our livelihoods, lose our source of income that is essentially the foundation of our lives. This is your opinion, and because you believe it with conviction we must all have this conversation on your terms.
It's bad enough that you come onto AA threads and do everything in your power to make us feel like our jobs are at risk. It's really pathetic that you feel the need to constantly do it to the young pilots just starting out at regionals. You relish in making them squirm.
Originally Posted by Finessed
I made a statement months ago in this thread that I thought this airline would find a way to survive. I believe with what I’ve read recently I was wrong.
Get the resume updated
Get the resume updated
Originally Posted by Finessed
The WO’s are finished and they don’t even know it.
Originally Posted by Finessed
American will not survive that long if that’s the case. Inevitably they’ll be forced into chapter 7, game over.
Originally Posted by Finessed
When American Airlines inevitably goes under and everything is wiped out, including the flow, will you finally give it up?
01-08-2021, 07:20 AM
#40
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,232
Originally Posted by TransWorld
This is spot on. The debtors and the company are pretty much those in charge, to work it out amongst themselves. The judge just basically sits back and lets it happen, only getting involved like a football referee does. If someone commits roughing the passer, the judge will get involved.
Yes. But what's significant is that the laws have changed since the last round of airline BK's.
BK is now less palatable for routine business purposes of escaping inconvenient obligations. The creditors are now more in control, as opposed to the DIP (the management team).
The good news with that (for labor) is it's riskier for management to file BK, they might lose the whole enchilada and their jobs and stock.
Bad news is that if they do file, it's easier for creditors to force liquidation if they think that will get them the most pennies on their dollar.
Good news, right now, is that airline assets are worth about their weight in crushed beer cans, so creditors might be more inclined to let the company re-organize and hope for a better return down the road, vice cash out while they'd be hard-pressed to give away the assets.
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