Waggy122

First thing to stop is the hiring, then come the furloughs if necessary... Why? Too many retirements. Doesn't make sense to cut from the top (via retirements) and bottom (via furlough) at the same time while still trying to run an operation and make revenue. So yeah I'd say he's pretty safe with 2,000 below him. Cool?

Profane Kahuna

I hope so...... but didn’t they furlough over 2,000 after 9/11?

Waggy122

Maybe but I'm not sure they had to deal with 1,000 retirements at the same time. And also, that was 9/11... things would have to get really really bad. I'm sure a recession will come like they've been calling for 3 years now but if it does I'm going to go out on a limb and say it won't be a gut punch like the dot-com bubble bust or '2009. Also, consolidation has made this industry more stable. All the doom and gloom at AA and the "debt issue" is a bit overplayed. AA also carries the most cash than any of the majors which helps to service the low interest debt they owe when they are in a pinch. Call me crazy but even though the other airlines are financially outperforming AA, I think the retirement numbers serve as the most effective moat for furlough protection and the AA retirement numbers are staggering compared to all others.

Profane Kahuna

That’s true, and if he goes to American he won’t have to worry about the company stealing pensions again.