Ihateusernames

He ain't that dumb. Why would he want to hold the bag in times like this when he could theoretically sell all his stock and be done.


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MCDUmanipulator

If they don’t take the money and in turn furlough thousands. There goes their whole we treat our employees great and all the Luv stuff.

e6bpilot

That is not what I get out of that memo at all. Gary is an accountant. He is going to analyze every option available before making any public decisions. He is also beholden to the board and the shareholders, who would absolutely punish him if he turned down free money while his competitors took it. This is all about survival, which this company is very skilled at.
The info and final rules for the grants is not due out for 5 days. The loans 5 days after that. As a member of A4A, who lobbied heavily for this relief, it would look really bad if SWA didn't take it in some form or fashion.
Everyone needs to chill and take a deep breath. This WILL pass eventually and I highly doubt that furloughs will result unless there is a long term industry-wide crash that coincides with a severe economic depression like we have never seen before in history. Not saying it isn't possible, just highly unlikely.
In the meantime, life is going to suck. Word on the street from the union is the May schedule has severe cuts with no departures before 0700 and after 2000L. Commuting is going to be absolute hell. Enjoy the min guarantee months.

RJSAviator76

Nice post e6b.

I also don't see furloughs unless people just stop flying altogether once the virus threat subsides, and I just don't see that happening, but then again I've been wrong before.

My hunch from watching Gary's video is that we'll take the government money because not taking it would put us at a competitive disadvantage with those who take it, especially considering that the federal money also comes in forms of grants. Oil prices are also way depressed too.

One thing I'm somewhat hopeful for is that the tendency to overstaff has been exposed as flawed, wrong and unnecessary.

305808

Wasn’t that to prepare for sudden expansion due to MAX’s being dropped on property all at once? Expansion they no longer want or at the very least want to delay until demand returns.

at6d

I just don’t get how we can keep going. TUS just shut down. Texas is issuing 14-day quarantines for pax from NY, CT, and MSY. Hawaii is quarantining as well. Hotels are closing, food issues, bla bla bla etc. We have pilots testing positive according to SWAPA.

just read that northern AZ is already near ICU max capacity for this horse%#*t.

Starting to get pretty damn real, and starting to get disheartening.

Fifth year is starting to sound too junior for any comfort.

Somebody cheer me up.

majorpilot

Didn’t he buy BofA when it tanked in 2008? Believe it saved the company AND he did more than OK when things turned around.

“Being done” isn’t how he got where he is, I suspect.

All Bizniz

Yep.... He's sitting on over $120B in cash playing the long game...

If he believes the airline industry will rebound at some point, he could just wait until September (maybe even wait a little longer to make them sweat it out a bit) when his target airline(s) have burnt through their cash, and then make his move...

All Bizniz

Yep.... He's sitting on over $120B in cash playing the long game...

If he believes the airline industry will rebound at some point, he could just wait until September (maybe even wait a little longer to make them sweat it out a bit) when his target airline(s) have burnt through their cash, and then make his move...

e6bpilot

Yes to all of this.