Eagle Life
11-15-2011 | 05:32 PM
#4451
Gets Weekends Off
Joined: Aug 2008
Posts: 545
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Heads up... here come the fear grenades 
I could post an entire thread worth of fear grenades that have turned out to be duds...many directed at me personally. What have I learned: don't listen to the crusty, jaded, "I hate my life" types who use internet forums as release valves.
I could post an entire thread worth of fear grenades that have turned out to be duds...many directed at me personally. What have I learned: don't listen to the crusty, jaded, "I hate my life" types who use internet forums as release valves.
11-15-2011 | 05:32 PM
#4452
Gets Weekends Off
Joined: Feb 2011
Posts: 820
Likes: 0
Why? So they can continue to loose money quarter after quarter until its all gone? Or because they want to give union workers bigger contracts just so they end up screwing creditor and employees when they file? That cash on hands gives them more leverage to emerge from bankruptcy then if they entered with nothing. If they go into BK with nothing they run the risk of full liquidation. You got to have assets and cash or they will not be able to restructure and attract exit financing. No cash or assets, no airline, plain and simple. Plus they can screw the employee’s into lower wages, terminate the pensions, and force all creditors to take a haircut on their notes. BK is a win win for AMR. In 2004 they hired Goldman to studying the airline and they suggested filing then. They said no way the airline will survive under its current model. They were right, we are weeks or months away from AMR walking into a federal court near you.
It does not work like that, when you go BK that money becomes the courts and is used towards debt and the restructuring, the court if they wanted to could put it toward pensions. Also top management is going to lose a lot in bk.
11-15-2011 | 05:39 PM
#4453
Gets Weekends Off
Joined: Feb 2007
Posts: 117
Likes: 0
Lol, "before start checklist?" that again? We get it, you've been here longer than 5 years, you want a trophy?
Probably the same reputation among family too, they'll all give you the same smile to your face too.
Whatever though, I don't know you, just what I hear about you.
Before start checklist.Probably the same reputation among family too, they'll all give you the same smile to your face too.
Whatever though, I don't know you, just what I hear about you.
11-15-2011 | 05:42 PM
#4454
Gets Weekends Off
Joined: Aug 2008
Posts: 545
Likes: 0
Lol, "before start checklist?" that again? We get it, you've been here longer than 5 years, you want a trophy?
Probably the same reputation among family too, they'll all give you the same smile to your face too.
Whatever though, I don't know you, just what I hear about you.
Probably the same reputation among family too, they'll all give you the same smile to your face too.
Whatever though, I don't know you, just what I hear about you.
I have seen it far too often, both in the airlines and at my previous 135 and CFI jobs.
11-15-2011 | 05:53 PM
#4455
Gets Weekends Off
Joined: Dec 2007
Posts: 618
Likes: 0
The judge using the cash to fund the pension over the creditors, bond holders, and share holder? You smoking crack?
Top Management? Right why do you think they keep delaying the inevitable.
11-15-2011 | 08:48 PM
#4457
Gets Weekends Off
Joined: Sep 2011
Posts: 100
Likes: 0
Financial Times online:
“The absence of progress this week in contract talks between AMR management and the Allied Pilots Association raises the risk that American Airlines will be forced into a Chapter 11 bankruptcy filing,” Bill Warlick, a senior director with Fitch Ratings, wrote on Tuesday.
“While AMR’s liquidity position is adequate to allow the company to avoid a bankruptcy filing in the short run, we regard the achievement of competitive pilot wage and benefit levels as key to American’s long-term survival,” Mr Warlick added.
Link to full article:
American Airlines in new approach to pilots - FT.com
“The absence of progress this week in contract talks between AMR management and the Allied Pilots Association raises the risk that American Airlines will be forced into a Chapter 11 bankruptcy filing,” Bill Warlick, a senior director with Fitch Ratings, wrote on Tuesday.
“While AMR’s liquidity position is adequate to allow the company to avoid a bankruptcy filing in the short run, we regard the achievement of competitive pilot wage and benefit levels as key to American’s long-term survival,” Mr Warlick added.
Link to full article:
American Airlines in new approach to pilots - FT.com
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