AWAC Sells All US Airways Shares
 

This was posted on our Forum a few days ago.....apparently our owners (East Shore Aviation) have sold off the remaining 13.5 % of our Airways shares...and we have given up our seat on the board of directors. Guys have already "informed" opinions as to what it means....either they are looking to sell us...or its got something to do with the alleged merger with Airways and Yo-nited.

Any thoughts from pilots outside of AWAC???

I did hear talk of talks between AWAC and UAL. Not sure it is worth listening to this banter, but I am sure the UAL is planning for a possible post-Mesa future.

I mean is this such a good thing? Why wouldn't we want to keep our guaranteed flying? I don't get it, are we that strapped for cash? any thoughts?

Something's gotta be going on behind the scenes with this deal. Not sure if it's good or bad, but I don't think they would sell the remaining shares AND give up the seat on the BOD just for the heck of it. I guess time will tell.

My concern is that the owner's are looking to get out of the contract. Why wouldn't Airways throw a bone at AWAC to park some planes. Parker has said for the past two years they would love to get rid of the excess 50 seat flying. Considering this company has not taken a new airplane in 4 yrs, I beleive anything is possible.

I would like to get excited about a possible UAL contract again but that got stolen from us in 2005 from this same ownership. We have not been able to secure any flying when the mega RFP's were out in 05 and 06.

Our owners are in this to make money and the profit margin is not what they got back in 2001 from UAL. Who knows what they are making from Airways... They did not show us that in our concession arbitration. All of that information was not provided to ALPA as the arbitrator was a pro company guy.

Oil at $123... I would place my money on the owners are getting out and the contract is on shakey ground. AWAC does not pay for the gas but Airways does so getting rid of expensive 50 seaters is a matter of time. I would think if this were a cost neutral for the owners they would sell or park jets.

I guess that is my half empty look at AWAC but there has not been any good news here since 2004.

The contract should not be on shaky ground. I have no idea of the details. But I think they are just cashing out. Their shares and the seat on the BOD should not have an impact on the contract.

Keep in mind that my recollection is that the contract states something to the effect that "AWAC may place up to seventy 50-seat aircraft into service" with US Airways. That doesn't mean the owners have to place that many.

I hope our contract is secure, but I wouldn't be surprised at all if there are some changes in the offing, especially if a merger goes ahead and/or if Mesa is truly in dire straits.

Brace yourselves for a big turn. This is leading up to something big.

Question is good or bad? What does everyone feel?

Giving up your shares and your BOD seat means AWAC is just like every other regional now. They are subject to the open bidding process when their contract expires. I hope they find a home for their planes if Airways decides to reduce 50 seat flying through AWAC.

I used to work for ZW on the ramp at ORD, I would love to see some of their planes and crews back in Chicago picking up the pieces for Mesa. That is of course, after my own company gets our share first!

Is it official that AWAC did in fact give up the seat, I haven't checked the company boards yet, but can anyone confirm this?