World Airways
12-27-2011 | 08:14 AM
#143
Rubber dogsh#t out of HKG
Joined: Jan 2008
Posts: 638
Likes: 2
From: Senior Seat Cushion Tester Extraordinaire
Of course, I'd rather we expand and hire. But those decisions are well above my pay grade.
12-27-2011 | 09:32 AM
#144
I have shiny jet syndrome
Joined: Jan 2008
Posts: 984
Likes: 0
From: ELACS, FACs and SECs. Who doesn't love 'em?
I was in the Bish back in November and ran into a World crew in the hotel lobby. It was the FAs last trip. All of them said they were being f'd when they got back stateside and mentioned several planes were being returned. Good luck to all the World crews!
12-27-2011 | 03:28 PM
#145
Moderator
Joined: Oct 2006
Posts: 13,088
Likes: 0
From: B757/767
Read below...........
12-28-2011 | 08:17 AM
#146
Gets Weekends Off
Joined: Sep 2008
Posts: 406
Likes: 0
From: seated beer curl
12-29-2011 | 12:06 PM
#148
Line Holder
Joined: Dec 2007
Posts: 83
Likes: 0
From: B744/8 CA at Atlas
I think your numbers are off a bit! I spoke to one of the FA union people and they said it was 172 FA furloughs. That should take us down to just under 300 FA's for the remaining 5 pax MD11's (takes a lot of FA's at 9 per crew).
Those 2 pax MD11's are leaving at the end of their leases to get holes cut in them for freight. That had been the plan since they were first leased - I don't know who is getting them as freighters.
It shows just how understaffed we were in the cockpit. Losing 4 airframes out of 20 total and we are now properly staffed!
Those 2 pax MD11's are leaving at the end of their leases to get holes cut in them for freight. That had been the plan since they were first leased - I don't know who is getting them as freighters.
It shows just how understaffed we were in the cockpit. Losing 4 airframes out of 20 total and we are now properly staffed!
12-29-2011 | 02:15 PM
#149
Line Holder
Joined: Apr 2008
Posts: 93
Likes: 0
The Appeals Court ruled against ATA and it's award from the FDX lawsuit. Based on what is stated in GAL's Q3 (10-Q) financial statement and it's restructuring plan, I would be concerned about the viability of the company. Below is an excerpt:
SEC Info - Global Aviation Holdings Inc - 10-Q - For 9/30/11
I truly wish you all the best of luck.
S
SEC Info - Global Aviation Holdings Inc - 10-Q - For 9/30/11
Our strategic initiatives are focused on, among other things, the cost savings described above, cash to be generated through capital restructuring options currently under discussion with key equity and debt holders, and progress on implementing our revenue initiatives, including increasing revenues through entitlement and rates from our AMC business. We believe that cash generated from operations and to be provided through capital restructuring options, coupled together with the timing of cash outflows and existing cash balances will be sufficient to meet our operating requirements and other obligations over the next 12 months; however, our ability to generate cash through the capital restructuring options under discussion will significantly depend on our ability to implement our strategic initiatives and the absence of adverse developments in the appeal of the judgment entered in favor of the ATA bankruptcy estate against FedEx. We cannot provide any assurances that we will be successful in accomplishing any of these initiatives on terms acceptable to us or at all, which could have a material negative impact on our financial condition or results of operations.
S
12-30-2011 | 07:43 PM
#150
Line Holder
Joined: Mar 2008
Posts: 87
Likes: 0
From: md11
If you take the time to read all the SEC filings for GAH over the last year (instead of just one paragraph), you can see the bigger picture of the ATA's Chapter 11 estate. 85% of any monies received in the judgment were to go into the estate and distributed to the "company" (World,NA,etc). After you would have deducted what MP would have taken for themselves, I assume the rest would have been to pay down debt or for operations. These monies were only one part of a restructuring plan. Many parts of this plan are already in effect, especially debt restructuring, which beside being paid off sooner, shouldn't be affected by this. While it would have been nice to have this money, I think GAH will survive without it.
Last edited by okbk; 12-30-2011 at 08:14 PM.
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