Any SkyWest coming to Envoy
#11
Gets Weekends Off
Joined APC: Feb 2016
Posts: 602
#12
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Joined APC: Apr 2014
Posts: 311
No sheep feeding going on. Look it up if you don't believe it.
#13
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Joined APC: Mar 2011
Position: 737 FO
Posts: 2,485
#14
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Joined APC: Dec 2009
Posts: 94
#15
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Joined APC: Mar 2016
Posts: 1,111
#17
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Joined APC: Sep 2010
Posts: 2,648
Actually, Skywest loaned United the cash with credit card interest to pay for the 787s a few years back when United was in a bind at the time. The collateral......all United gates in ORD. If United defaulted on the loan, Skywest would take the gates. United paid off the loan on time.
No sheep feeding going on. Look it up if you don't believe it.
No sheep feeding going on. Look it up if you don't believe it.
#18
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Joined APC: Apr 2014
Posts: 311
#19
I don't think they had a lot of options. SKW did it because it was in THEIR best interest that UA survive... but UA's survival was at stake.
#20
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Joined APC: Jun 2015
Posts: 200
Actually, Skywest loaned United the cash with credit card interest to pay for the 787s a few years back when United was in a bind at the time. The collateral......all United gates in ORD. If United defaulted on the loan, Skywest would take the gates. United paid off the loan on time.
No sheep feeding going on. Look it up if you don't believe it.
No sheep feeding going on. Look it up if you don't believe it.
Yeah, no. Skywest loaned UAL $80. in cash with a $45 million deferment on contract payments. It provided liquidity to United which had a cash crunch due to obvious issues during Ch. 11, such as the need to rid itself of aircraft on lease. Many people don't understand how large United was when it filed, it was a larger airline in many ways than it was after the merger with Continental. $80 million is likely close to the operating budget of a single major hub for 24 hours.
In no way were the primary DIP financiers going to put at risk ALL of United gates in its most valuable hub for $80 million, some deferred payments and 13 airplanes for ASA. In fact even the article posted indicates collateral was a few landing slots and some ground equipment. It was a shrewd business move for SkyWest, no doubt, but to conflate that to "United wouldn't exist" or another favorite I hear "our partners need us more than we need them"....well, it's just hard to keep a straight face.
It's good to be proud of your company, and SkyWest certainly is worthy of pride at times, but.
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