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From the Q2 ir:
While the revenue decline exceeded the cut in cost by 18%, it doesn’t paint the whole picture . 2019 revenue yielded record profits. The margin to break even is not 18%, it lower. Is management looking to break even, make a profit, or slow the bleeding enough to get to a recovery? So far I think we know the answer. |
Originally Posted by MasterOfPuppets
(Post 3117902)
Mitch I don’t have the time time respond to your huge post but I’ll try later. For now, we don’t have to retire aircraft to keep them parked in ROW Indefinitely. Right now our 777 fleet and 767 fleet are as good as gone until they are need again consider them retired. The company is just keeping the asset.
and as far as why DL and AA are furloughing smaller numbers? Because they mitigated more furloughs than we did. DL early outed 1800 pilots we got 500 IF they all sign the waiver. It’s not a big conspiracy, we just had a more restrictive mitigation. Blame the union, blame the company, blame the pilots that didn’t take it. Doesn’t really matter....our furlough numbers went UP because not enough people voluntarily left, 3000-4000 pilots are leaving all three majors one way or another. |
Originally Posted by RJDio
(Post 3117915)
From the Q2 ir:
While the revenue decline exceeded the cut in cost by 18%, it doesn’t paint the whole picture . 2019 revenue yielded record profits. The margin to break even is not 18%, it lower. Is management looking to break even, make a profit, or slow the bleeding enough to get to a recovery? So far I think we know the answer. |
Originally Posted by MiLa
(Post 3117870)
yes after October 1 the cash burn will go up because UAL will have to cover payroll expenses again which isn’t part of the current cash burn. It was stated by BQ during a townhall.
It looks like PSP money was not included in the cash burn according to the ir. |
Originally Posted by Andy
(Post 3117919)
They're just trying to slow the bleeding right now. And things are worse now than when that earnings report was released.
Now will the winter be worse than q2? Maybe. Travel slumps in the winter historically. But there are also multiple vaccines on the horizon slated for a winter release that may have a positive impact on travel. |
All I know is, once that first person is furloughed, no more help, no more FDP extensions, no more premium pay, no more open time pick ups, no more nothing! Time to make it hurt as much as possible!
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Originally Posted by RJDio
(Post 3117926)
Not sure how things are worse now? The ir is a look back at the q2 result. A period that had lower tsa numbers than today. And by their own admission PSP proceeds were not included in the cash burn.
Now will the winter be worse than q2? Maybe. Travel slumps in the winter historically. But there are also multiple vaccines on the horizon slated for a winter release that may have a positive impact on travel. So the $25M/day cash burn in Q3 will end up being too optimistic. You're glossing over other problems that are starting to surface. Take a look at loan delinquencies. Main street is showing severe economic distress. https://www.mba.org/2020-press-relea...%20Delinquency Note: The nearly 4 percentage point jump in the delinquency rate was the biggest quarterly rise in the history of MBA's survey, Worst increase in the history of MBA's survey. That goes back to 1990. |
Just got my CCS notice :(
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Originally Posted by 130drvr
(Post 3117927)
All I know is, once that first person is furloughed, no more help, no more FDP extensions, no more premium pay, no more open time pick ups, no more nothing! Time to make it hurt as much as possible!
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Originally Posted by NavyGimp
(Post 3117936)
Just got my CCS notice :(
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