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Originally Posted by Big5
(Post 3136587)
Serious question: come May what are we going to do for our potential furloughs? Pandemic TA-2? How will be able to cut them loose then if we’re not prepared to do so now...and I’m not suggesting or advocating we chop them now.
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Originally Posted by MasterOfPuppets
(Post 3136617)
If we furlough next June we will be bankrupt. Period end of story.
This 100% |
Originally Posted by MasterOfPuppets
(Post 3136617)
If we furlough next June we will be bankrupt. Period end of story.
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Originally Posted by MasterOfPuppets
(Post 3136617)
If we furlough next June we will be bankrupt. Period end of story.
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Originally Posted by vipereaglebus
(Post 3136744)
Bold statement. If that’s the case, why did the company negotiate for the ability to furlough 2000 and still keep the TA going? If what you say is true, the company could have just left that part out since bankruptcy triggers termination of the TA anyway. Am I missing something?
No inside info, but my thoughts are the union wanted to prevent furloughs...a noble effort....and the company just said, “look, here is the pot of money we have for pilots until June. If you guys can figure out a way to prevent furloughs, we’re all ears.” Then the union dutifully went about cutting MPG to manage the company. |
Originally Posted by HiPlaneDrifter
(Post 3136790)
No inside info, but my thoughts are the union wanted to prevent furloughs...a noble effort....and the company just said, “look, here is the pot of money we have for pilots until June. If you guys can figure out a way to prevent furloughs, we’re all ears.” Then the union dutifully went about cutting MPG to manage the company.
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Originally Posted by vipereaglebus
(Post 3136744)
Bold statement. If that’s the case, why did the company negotiate for the ability to furlough 2000 and still keep the TA going? If what you say is true, the company could have just left that part out since bankruptcy triggers termination of the TA anyway. Am I missing something?
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Originally Posted by MasterOfPuppets
(Post 3136842)
If the airline isn’t at a place by next summer that’s north of 70% of 2019 the company will only have a few months of cash left until they must go bankrupt. If next summer is a bust we won’t make it through next winter.
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Originally Posted by MasterOfPuppets
(Post 3136842)
If the airline isn’t at a place by next summer that’s north of 70% of 2019 the company will only have a few months of cash left until they must go bankrupt. If next summer is a bust we won’t make it through next winter.
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Originally Posted by Big5
(Post 3136871)
That’s really some sound fundamental analysis. 70% of what? Revenue? LF? Block hours? Regardless even at our most recent qtr daily cash burn of $26 mil a day, that’s $.8bil a month. We have over $17bil on hand. We won’t be bankrupt in June. You realize the company can negotiate debt down outside bk? That’s most likely happening. We have cares 2 on the way - more cash. But hey - lets vote post haste and give them a handout.
come June the company will either furlough Zero or will furlough more than 2007. They won’t be looking to reduce cash burn or break even. They will be looking to start making money again. They will not carry dead weight. The TA 2007 number means very little in my opinion and was there to show the dire circumstances we face. I believe it’s sole pourpose was to scare up yes votes. If CARES 2 happens then this TA doesn’t mean jack so why even stress about it? |
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