Search

Notices

SWA to go at it alone

Thread Tools
 
Search this Thread
 
Old 08-19-2020 | 06:15 AM
  #1  
Thread Starter
weekends off? Nope...
 
Joined: Apr 2014
Posts: 2,407
Likes: 134
Default SWA to go at it alone

Per today’s 8-k filing, Southwest has decided not to participate in the federal secured loan program based on its current liquidity
and belief that it can secure additional financing at favorable terms.

Time to break from the pack!
Reply
Old 08-19-2020 | 06:16 AM
  #2  
biigD's Avatar
Line Holder
15 Years
 
Joined: Oct 2010
Posts: 1,970
Likes: 127
Default

Sounds like a good move to me!
Reply
Old 08-19-2020 | 06:33 AM
  #3  
WHACKMASTER's Avatar
Gets Weekends Off
 
Joined: Jun 2010
Posts: 7,573
Likes: 283
From: DOWNGRADE COMPLETE: Thanks Gary. Thanks SWAPA.
Default

Indeed this should be a good sign. So just to be clear, we took the payroll grants but not the loans of the Cares Act. Is that correct?
Reply
Old 08-19-2020 | 06:34 AM
  #4  
biigD's Avatar
Line Holder
15 Years
 
Joined: Oct 2010
Posts: 1,970
Likes: 127
Default

Originally Posted by WHACKMASTER
Indeed this should be a good sign. So just to be clear, we took the payroll grants but not the loans of the Cares Act. Is that correct?
Yeah, that’s my understanding. No reason not to take the handout!
Reply
Old 08-19-2020 | 08:20 AM
  #5  
On Reserve
 
Joined: Jun 2016
Posts: 121
Likes: 0
Default

Originally Posted by biigD
Yeah, that’s my understanding. No reason not to take the handout!
We already took the handouts. They were called grants. No airline has taken the loan side of cares act, yet.
Reply
Old 08-19-2020 | 08:23 AM
  #6  
Gets Weekends Off
 
Joined: Nov 2019
Posts: 1,256
Likes: 0
Default

ok dumb question but if Payroll Support Program is extended past Sept-30, is SWA going to accept it / participate ?
Reply
Old 08-19-2020 | 08:27 AM
  #7  
pangolin's Avatar
Gets Weekends Off
 
Joined: Jul 2017
Posts: 4,083
Likes: 0
From: CRJ9 CA
Default

Originally Posted by Smooth at FL450
Per today’s 8-k filing, Southwest has decided not to participate in the federal secured loan program based on its current liquidity
and belief that it can secure additional financing at favorable terms.

Time to break from the pack!
One more blow to PSP extension. SWA benefits from the industry carnage if there’s no extension.
Reply
Old 08-19-2020 | 08:39 AM
  #8  
On Reserve
 
Joined: Jun 2016
Posts: 121
Likes: 0
Default

Originally Posted by senecacaptain
ok dumb question but if Payroll Support Program is extended past Sept-30, is SWA going to accept it / participate ?
Yes. Gary Kelly helped write the Cares Act, and he is actively lobbying for Cares 2. Im guessing the airlines are confident that
Cares 2 will pass since it has support in Congress.
Reply
Old 08-19-2020 | 08:43 AM
  #9  
Gets Weekends Off
 
Joined: Dec 2017
Posts: 381
Likes: 0
Default

Originally Posted by Black Coffee
Yes. Gary Kelly helped write the Cares Act, and he is actively lobbying for Cares 2. Im guessing the airlines are confident that
Cares 2 will pass since it has support in Congress.
^^^^^^
Yes. This exactly.
Reply
Old 08-19-2020 | 08:55 AM
  #10  
On Reserve
 
Joined: Jun 2016
Posts: 121
Likes: 0
Default

Originally Posted by HulkaBurger
^^^^^^
Yes. This exactly.
I actually read my company email, and look at the Ask Gary news instead of making things up.
Reply
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Brakes Set
Southwest
10
06-25-2012 10:03 PM
MatthewAMEL
Southwest
120
11-28-2011 10:26 AM
Sr. Barco
Southwest
44
10-12-2011 07:39 PM
Metal121
Major
20
02-04-2008 08:31 PM
SWAjet
Major
44
01-19-2006 12:21 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



Your Privacy Choices