you think frontier is only burins $70 Million/month? United CEO says they're burning (loosing) $100 Million/DAY!!! I bet Frontier is closer to $5-10 Million a day

 

Delta is burning up $50 million a day.

Delta Air Lines Internal Memo: We are burning $50M in cash a day ? IdahoReporter.com

 

Well, I did say it was my bar napkin math! But, im sure we burn less money than that a day. Our entire company is built on the principle of low cost operation.

 

There is a good write up on our FB page about a conference call today. Good info!

 

Mind posting or pm'ing me? I don't have facebook.

 

Stolen from Facebook

Zero demand at the moment
Cutting 90% in April.
Planning to run 35% in May.
Parking all aircraft except NEO at Roswell
Some of our partners fall into the “airline” but not all.
If we accept the grant, we will not furlough through September.
If you have taken a leave, they may come back to you with a better program.
Company is talking to ALPA about better programs for leaves.
“Expanded leave offering” within 24-48 hours
220 million for us, if we take the grant.
600 million for F9 if they take the loans. (Strings attached on the loans) “no free lunch” on the loans
Actively swapping HEPA filters on planes
Wear a mask if you want, F9 is providing
“Drawing down 90% of schedule should help in keeping people well”
Good cash position coming into this, but nothing coming in so need to preserve.
Biffle is getting no salary April May June
Tough times, but he’s optimistic
We had one of the highest margins and best cash positions of any airline
Lowest cost of any airline
“Our cost advantage, even after borrowing 600 million, is going to explode”
“Confident we will be back to 100% by fall, and there will be lots of opportunities for F9”

 

Ok.....PM sent

 

excellent recap. I just wanted to expand on the grants with the way I understood. Biffle said that the grants aren’t really a freebie. He said that the feds are basically giving the airlines the grant money instead of paying unemployment on the furloughed employees. So the feds would be paying that money either way. So every airline will take the grants. He was trying to reinforce the fact that it is not “free” money the way that it was advertised in the package from the media. So yes, my understanding is we will be using the grant money on the front end to keep payroll, instead of having it paid for unemployment.

 

I personally would be very surprised if Franke would give the Fed any chance to swindle any of Indigo’s prized equity in F9.......seems like a huge and avoidable risk. Just my opinion.

 

yea I totally agree. Based on the conference call sounds like we don’t need the loans nor will we take them. But they will use the grant money instead of paying unemployment.